The Flowerpot has long been a cherished establishment, renowned for its Real Ale and live music. Under the guidance of Terri Evans, it has transformed into a thriving business with a promising future.
Challenges and a New Beginning
In 2008, Terri faced an unexpected challenge. Following the sudden loss of her husband, John, she inherited two public houses in Derby—the Smithfield and the Flowerpot. Managed remotely for years while John and Terri lived overseas, the pubs had suffered from a lack of on-site development and were left in poor condition. Terri, with no prior experience in running a pub or managing a small business, faced the daunting task of turning things around.
Strategic Intervention by Sibbalds
Recognizing the urgent need for support, Terri engaged Sibbalds for expert advice and guidance. Together, we implemented a strategy to rationalize and streamline the business, ensuring it became manageable and poised for growth.
- Streamlining Operations: The Smithfield pub was sold, with Sibbalds providing step-by-step assistance throughout the negotiation process, including addressing tax implications and winding up the business.
- Short-Term Measures: To stabilize the Flowerpot, we recommended a team of consultants to manage day-to-day operations and took over the preparation and oversight of monthly management accounts.
Building for the Future
With the business on a steadier footing, our relationship with Terri evolved into one of mutual trust and collaboration. Sibbalds played a key role in evaluating and confirming the viability of Terri’s expansion plans, ensuring each decision aligned with the business’s long-term goals.
- Major Refurbishments: The addition of letting rooms required significant investment, including bank funding, which Sibbalds helped secure.
- Ongoing Upgrades: Refurbishment of the pub’s frontage reflects its growth and renewed vision.
A Flourishing Partnership
Today, the Flowerpot is a profitable and healthy business. Our discussions with Terri are focused on future opportunities, long-term planning, and business succession. Terri’s understanding of her business’s financials has grown significantly, and her confidence in making informed decisions is evident.
This transformation is a testament to Terri’s determination and vision, as well as the collaborative approach taken by Sibbalds. We’re proud to have played a part in this success story and to witness the Flowerpot continue to “bloom.”