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Vivid Finishes
Background
Vivid Finishes are a commercial painting, spraying, and decorating contractor within Central London that operates nationwide to a range of offices, construction companies and large shop fitters.
The business provides high-spec artistry with a personal touch, supplying some of the largest businesses in the UK. With a solid business model, investment and structure in place, the company came to us wanting to take that next step to increase profitability, whilst also developing software and furthering innovation in their field.
The Challenge
The business had plans to reach a specific level of turnover and came to us seeking advice on how best to reach this figure.
The business was very well established, turning over £8-9 million pre-pandemic, which increased to approximately £12 million after COVID. As well as their plans to reach a specific level of turnover, Vivid had plans in place to develop software that could be used across the sector, however, this required additional funding through a Research & Development (R&D) application.
After sitting down with the business owners and directors and really gauging the future vision of the business, we drew up meticulous plans to align with the direction they envisaged. We wanted to build on the established platform that the business had already created, so we conducted in-depth R&D applications around the software development whilst also maintaining good cashflow practices and implementing an efficient credit control system to ensure the business was stable and healthy.
We also used our extensive contact list to put the business in touch with a range of investors and partners to aid with trademarking and patenting, which the owners were keen to sort.
The Results
Our latest forecasting and guidance in achieving those targets predicted the business to have a significant increase in turnover, a massive step up in a small amount of time.
As well as this, the growth strategy we set at the start of working with them has completely exceeded itself as the business grew extensively over a short period.
Usually, this comes with difficulties, however with the foundations and strategies in place, the business has gone from strength to strength and is in an amazing position to grow even further.
They’ve hired lots of additional staff, whilst the software development side of the business has been cleverly separated from the day-to-day running of the commercial side of the company. This has provided the due level of care, attention, and funding to be directly funnelled into the software development, without any effect on commercial operations.
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