BEST GROCERY LTD
Best Grocery is an independent online Grocery store that focuses on Turkish products and food. They maintain a 4.6-star rating on Trustpilot with over 400 reviews, denoting the impression they’ve left on their customers. Their inventory includes over 3000 different products from some of the most popular Turkish brands. Food and groceries are their focus, but they also offer a range of health and household goods as well.
To provide easy access and exposure for Turkish groceries on the British market.
At Best Grocery, we present a secure, user-friendly, and technologically innovative website to facilitate quick and easy market purchases. Alternatively, customers can place orders through our 'Best Grocery' app. Online purchases are delivered conveniently and securely to client's doorsteps. The professional logistics team at Best Grocery meticulously prepares each package with care. Our product offerings boast the highest quality brands at the most competitive online prices. We pride ourselves on offering affordable quality products and brands.
Aspiring to be the premier online grocery shop in the UK, our mission at Best Grocery is to provide customers with swift, convenient deliveries without the need to leave the comfort of their homes or offices. Our primary objective is to bring the finest items to the market as promptly as possible. Regardless of our customer's location in the UK (England, Wales, Scotland & Northern Ireland), we bring over 3,000 products from Turkey's most renowned brands. We have built a reputation of excellence which is showcased in our 4.6-star rating on Trustpilot. We are delighted to bring you this opportunity to invest and join us on our growth journey.
The director Nergis Atail is providing a personal guarantee, which means should the business fail and have insufficient assets within the business to repay the loan, we can look to the guarantor(s) to repay any shortfall on repayment. There have been no CCJs for the business or director. Whilst the director is not a homeowner which is an exception stated in our credit policy. The mitigants are the company's strong establishment, evidenced by a substantial TNW and EBIDTA. With a DSC ratio exceeding 1, it is evident that the company has the financial capacity to meet the loan requirements. Our risk assessment relies on the Equifax score and grade, from the March 2023 filed accounts. The latest financial accounts show a pre-tax profit of £100,987 and a net equity of £180,252. The bank statements confirm reasonable affordability, and the accounts consistently maintain a positive balance.
The company has experienced a minor impact from increased costs, but they have recently implemented cost-cutting measures, improving their overall gross margin. Given that the majority of their loans are at a fixed rate, the business is not immediately susceptible to interest rate hikes. While the company anticipates a potential sales decline due to inflationary pressures, they believe it will be manageable and not on a scale that would affect its sustainability.
Where will the funds go?
"To provide easy access and exposure for Turkish groceries on the British market."