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!”
