As accountants, we believe in adding value to our clients’ businesses. We’re not just here to crunch the numbers, but to work alongside business owners as critical friends.
Here’s just one example of how we’ve worked closely with a client and seen his business go from strength to strength.
Chris Phillips, Managing Director of Bearings Plus in Cirencester, contacted us five years ago, when his business, which had been part of a franchise, became independent.
Bearings Plus is a bearings and transmission parts supplier to a wide range of industries, including agricultural machinery, cycle shops, quarries, packaging companies and mining, right through to Rolls Royce.
“Optimum was a recommendation from a member of our staff. When I had taken the business on it was a franchise, but I then bought it out and needed my own accountant.”
Chris became a client of our Accounts Director Michael Blaken, who has been instrumental in helping Chris, his Company Secretary and partner Emma, and his team to grow the business.
“He has been much more hands on and involved in different aspects of the business than the average accountant,” said Chris. “We were initially in a small unit in Cirencester, but in 2019 we moved into larger premises. This was really on the back of speaking to Mike, of him understanding what we wanted to achieve, and him reassuring us that we were ready to make the move.”
Within two years, Bearings Plus was growing again, this time expanding into the neighbouring unit of the Love Lane site, giving the company more space to increase its range and to run a small shop for walk-in trade.
“We wanted to know from Mike if the move and the later expansion were affordable. When you move, costs increase; we needed to carry more stock, the premises cost more, and we needed to increase staffing. We also expanded our product range, so that now we have in the region of 30,000 lines.
“Mike has been hugely involved and has become a real friend. We are in regular contact, especially when it comes to end-of-year accounts.”
Since moving to Love Lane, the Bearings Plus’s turnover has increased by around 50% and the team have grown from three to six.
Chris said: “Without Mike’s advice, we would have grown but not to the extent we have. His help has been invaluable.”
Michael added: “Chris’s business has performed brilliantly, and it has been a pleasure to help him along the way. We think we were particularly helpful when talking through the cost of growing, in terms of buying in more stock, and a wider range. Not only has he gone into bigger premises, he has added product lines, and every time there is a change, he is happy to talk it over with us, as a sounding board. His is a real success story.”
If you run a business and would like to speak to proactive accountants who will help you to grow your business, please get in touch with Accounts Director Michael Blaken.