Case Study – PAD Services Limited
PAD was a commercial painting and decorating company in South London, which had a well established footprint in the area and some very well established contracts with local building firms. The directors identified a potential opportunity for expansion – providing services directly to the local authority who had substantial work available, but only for contractors on their panel. PAD wanted to get on this panel and pitch potentially lucrative work…but needed to understand what they had to do and what the cash implications might be.
What Happened?
We helped the business with panel acceptance and as part of the process produced a formal business plan/pitch for presentation to both the local authority and lenders. We identified that the business would need additional working capital to fund this business due to the longer terms required by the local authority and the higher wage bill due to the need for additional contractors. Thus the business plan included forecasts showing the need and incorporated a lender pitch for the funding. We then successfully sourced the funding from a new lender.
Success!