by Conrad Robins | Dec 22, 2020
Background – From family joke to flourishing Thai food brand
“Chuck it in” was one name suggested for Amy and Peter Nixon’s Thai catering business when they first started out three years ago. This was based on a family joke affectionately used to describe Amy’s relaxed cooking style and an expression that she often used herself in jest.
One of Amy’s customers suggested Punk Thai as a punchier alternative and this brand has indeed captured the public imagination!
Challenges – Turning a catering opportunity into business growth
The business began when Amy, who’s from Thailand, was asked by business neighbours of Peter in the Old Bakery Studios business hub in Truro if she would provide them with occasional lunches on site. Expansion followed rapidly to other on-site functions, pop-ups, events and festivals, most notably the successful Tunes In The Dunes on Perranporth beach.
Punk Thai quickly gained traction until, quite by chance at a catered dinner for the owners of Lily’s Café in Truro, it was mentioned that a family crisis had obliged them to seek a sale of their business.
Solution – Securing finance and expert support from ASC
Peter approached Conrad at ASC, whom he knew from a previous business discussion and for whose wife Punk Thai had catered very successfully at a “big” birthday party.
Conrad recognised that a share purchase was the appropriate way for his clients to proceed and, despite some lenders in the market proving incapable of recognising this fact as no physical security was available, he was able to identify a high street source that was willing to assist.
With the assistance of a specialist commercial solicitor recommended by Conrad, the deal was concluded but not without some of the all too familiar difficulties being encountered currently.
“Without the professionalism and commitment of Conrad and his team at ASC, this deal would never have happened” admitted Peter who was indeed on the verge of ”chucking it all in!”.
Outcome – A thriving café and plans for future expansion
Lily’s Café has continued to trade successfully in its original format but with the addition of a Saturday Thai lunch and a couple of small additions to the day time menu. Also, evening takeaways have proved so popular during restricted trading that these will continue indefinitely.
Once the pandemic has eased, Peter and Amy will review trading and assess the demand for weekend dining and expand the takeaway business.
“Quite simply, we couldn’t have managed any of this without Conrad” confirmed Peter gratefully.
by Conrad Robins | May 18, 2020
Background – A business dream takes shape
At ASC, we always strive to find the right lenders for our clients and the right finance for each business.
Four years ago, Aimee Trigell and Simon James looked westwards from Hampshire for a pub/eating place with rooms. They wanted to to fulfil their ambitions of business ownership. With a good background in pub management, they found a business opportunity that, to quote Aimee, “ticked all the boxes”.
Challenges – Financing the perfect pub
The Masons Arms in Williton, Somerset, a 16th century inn and restaurant in a village location, was their choice. Unfortunately, mainstream lending sources weren’t able to help. Not wishing to lose the opportunity, they were able to obtain facilities through a peer-to peer lender but the terms were not generous.
Nonetheless, they were able to hit the ground running. With some adjustments to menus and trading hours, they consolidated and further developed existing business.
Solution – Partnering with ASC for better finance
Three years later they reviewed their finance arrangements. They remembered their conversations with ASC and approached local Director Conrad Robins, who was delighted to hear from them again.
Conrad and Anthony identified a high street lender who they knew would be supportive and offer the terms and flexibility their clients needed and a deal was quickly agreed.
Despite the intervention of coronavirus, ASC continued to offer a personal, hands-on approach. They coordinated the various parties involved to get the deal done. Aimee and Simon were impressed by Anthony’s enthusiasm to assist at all times, noting that emails were answered “within minutes!”.
As well as the dedicated support of a personal lending manager, the new deal had a massive cashflow benefit for the business, as well as flexibility in the loan payments.
Outcome – Thriving through crisis and community spirit
At the time of writing, the Masons Arms is offering substantial support to the fight against the virus and the local community. It provides accommodation for NHS staff working at the nearby hospital and a delivery service for locals. This includes full-time catering for a 97-year-old.
One particular Sunday, over 70 meals were prepared for the community. They are grateful to Aimee and Simon for their ongoing assistance and efforts to help.
All in all, it’s a wonderful example of teamwork and community support that highlights how unity of purpose can benefit everyone!
by Conrad Robins | May 9, 2019
Background – From Scilly to a new business dream in Cornwall
3 certainly proved to be the magic number for Nicky Pender when looking for a business in Cornwall!
Having decided some years ago to move onto the mainland from her childhood home on the Isles of Scilly, Nicky had enjoyed a successful career in counselling mental health and well-being at a local Community College. The job was rewarding but also very demanding and Nicky felt the time was right to move on.
Growing up on the Scillies, Nicky’s early career focused on tourism and leisure and this seemed a natural choice for a change in direction. After extensive searching, Nicky identified the highly rated 3 Tees Guest House in Newquay as being ideal for her, given its location in the vibrant Cornish resort and close to both Lusty Glaze beach (chosen by the Sunday Times as Britain’s best) and the popular South West coastal path.
Challenges – Financing a fresh start in hospitality
After two abortive (and expensive!) attempts at raising the necessary finance, Nicky told local Estate Agent Bradley Start that she was about to withdraw from the purchase. Bradley knew from previous successful client introductions that ASC would be the ones to help and so third time lucky it proved to be for Nicky!
Solution – ASC helps turn the plan into reality
Local Director Conrad Robins and colleague Anthony Booker were more than happy to assist and helped Nicky to create a credible business plan that illustrated well the move from a seasonal business to year-round operation. Nicky welcomed Anthony’s supportive approach and together they rewrote the business plan to reflect Nicky’s proposed changes to trading. The plan represented part of ASC’s comprehensive submission to a chosen local banker who readily agreed to assist, offering a bespoke loan taking account of the previous seasonal nature of trading and Nicky’s future cash flow forecasts.
Outcome – A thriving guest house with a bright future
The 3 Tees will continue to serve its existing customer base, which includes frequent visits from continental hikers but also widen scope to reflect Nicky’s own values by introducing an emphasis on families and a dog-friendly policy and generally a unique, more boutique ambience. Plans are also in place to market the 3 Tees to Nicky’s fellow participants in the very popular Cornish sport of Pilot Gig rowing!
Based on her own experience, Nicky says “I can thoroughly recommend ASC to anyone who is looking to fund their business dream”. Bradley Start agreed that “Conrad and ASC have arranged finance for many of our Clients in the past and I knew that if anyone could help, it would be ASC!”
by Conrad Robins | Dec 14, 2018
Background – From idea to rural renovation project
When Carl Scott approached his financial adviser Claire Smith of SFM Mortgages Ltd in Ipswich in March 2009 he was quite despondent, having already tried his own and several other banks unsuccessfully to raise finance to develop land and buildings at his 16th Century Grade 2 listed farmhouse in the heart of rural Suffolk. His property includes a 300-year old Grade 2 listed granary barn of particular historical interest and an existing camp site on which Carl planned to erect 5 more eco-friendly barn-style units to create a holiday let complex. Claire suggested he speak to ASC.
Challenges – Funding setbacks and lender rejections
The Granary Barn previously had permission for use as a holiday let, but this had lapsed and the barn still needed complete renovation and conversion. As Carl wanted to run the whole complex himself once completed and had experience of similar period property renovation projects and a successful property letting track record, we urged Carl to prepare a detailed business plan and financial projections, which were to run in tandem with an “in principle” agreement he had received for a grant to cover 50% of the funding from the local Rural Development Agency. While Carl continued to pursue the two planning applications for the barn and the land, we presented the case to ASC’s panel of lenders to try and attract some interest in the proposition.
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Solution – ASC’s persistence and tailored approach
Frustratingly several lenders showed strong interest and support locally, only to have the application declined once it was fully assessed by their centrally-based underwriters. They clearly didn’t appreciate the potential of the business situated as it is, right on the Suffolk Tourist Trail, and the fact that it had the support of his local MP and Council Leader who, along with East of England Tourism, felt it should generate up to half a million pounds of annual revenue for the region as a boost for other trades and businesses.
Not one to give up easily, our persistence finally paid off and we managed to find a lender who, unlike most these days, had some local discretion to agree lending themselves at the levels Carl needed. They understood the benefits of the venture and its green credentials, but as a condition needed the planning in place first. This proved to be extremely problematic and time-consuming however after much debate the plans were finally approved. A few weeks later, and nearly 2 years after originally seeing ASC, the funding was released. The barn is now completed and receiving bookings, with the remaining 5 units to be developed over the rest of this year.
Outcome – Funding success and project completion
4Carl says; “Having been introduced to ASC about two years ago, I have been impressed by the sheer determination with which he worked on my behalf. Having fought to secure funding for half the development costs, we thought it was going to be fairly easy to gain support, but this was not the case. I have thrown everything into this project in order to create a boost for tourism in the region, and ASC just kept on until we struck gold. It is simple; if it wasn’t for the strength of ASCs reputation and relationships with the lenders and his tenacity this would not be happening.”
