Every publican who assumes control of a new or existing pub must undertake the completion of a Business Plan.
This is now a requirement under the statutory Pubs Code which is included in the Small Business, Enterprise and Employment Act of 2015.
Your Business Plan is possibly the single most important document that you will prepare when embarking on a new business venture. To this end, we complete a thorough overview of your business and its current trading style, before helping you to incorporate your Vision for the next five years.
All of our Accountants at eLTA have been involved in the Licensed Trade industry; with some even having run pubs themselves – your personal Accountant will therefore be able to help you to formulate the most effective plan for your business, in line with your Vision. We visit your pub, and look at how your company has quantified the fair maintainable rent of the premises. We also look at the recent trading results, before producing an accurate financial forecast for you.
Your eLTA Accountant will help you translate the information you have about your pub, and your operational & marketing plans, into a Projected Profit & Loss Account; complete with Cash Flow Forecasts and a Summary Report.
We can advise and guide you on the ideal business structure, taking into account your personal requirements and objectives.
Often the most critical decision in planning your business is whether or not the pub you are thinking of taking on is financially viable. These can be very difficult decisions and need to be considered with a balanced and realistic view of the venture.
We understand that planning and developing your business doesn’t stop with the decision to take on a particular pub, so, after each year in the business, we will work with you to prepare a personalised Projected Profit & Loss Account and Cash Flow Forecast for the following year.
Your tailored Business & Financial Forecasting Plan covers the following areas:
- Summary of ingoing costs and sources of funding
- Summary profit and loss account for the first year
- Detailed monthly profit and loss account for the first year
- Detailed monthly cash flow forecast for the first year
- Detailed monthly balance sheet for the first year
- Sensitivity analysis using various rates of % increase and decrease in turnover and overheads, and the possible impact on the business
- Five year plan of profits and cash
To find out more information about how we can help you, contact us today.