BLUEMATCHBOX POTTERS SUPPLIES LTD
Family-run business, established in December 2003, by Pelin and Grant Pratt. They had worked as potters, artist and arts and crafts educators since 2000. Bluematchbox Potters Supplies started as a part-time business retailing clay and other potter’s supplies to local potters and Colleges. In 2009, they established their current shop and opened 6 days a week, growing the business 3300% in the 19 years since inception. They've built a reputation of excellence with over 4k reviews and a 5 star rating on Facebook and Google. They are seeking funds for stock and refurbishment.
Provide a leading potters supplies solution
The pottery supplies market in the UK is a fast growing market. It is a specialist market where knowledge and experience is key. We estimate the market to be worth around £30-40 million per year. Our history in the sector and expertise, means that we stand out from many of our competitors. We value our customers, their satisfaction has always been a priority for us. Providing a seamless experience to our clients, offering expert advice and going above and beyond to find the best pottery solution is our mission.
With our decades of experience in pottery, pottery supplies and equipment sales we have attracted a loyal and growing customer base. We are located in a prime area of the country on the M4 corridor with huge communities of professional, semi-professional and hobby potters within our ‘catchment’ area. To attract the 150% growth in customers we believe is possible we need to be able to compete in terms of showroom and product range. We are excited about the opportunity to expand and this new phase of growth.
The directors are providing a personal guarantee, this means that if the business fails, the directors become personally liable for the loan. The directors are homeowners, however, this does not ensure there are sufficient assets should the loan need to be recovered. There have been no CCJs against the business or directors. The Equifax score and grade, on which we base our assessment of risk, are based on the 2021 accounts. We have performed our assessment on recent financial information, including 2022 management accounts, which were not available to Equifax. The year-to-date draft account shows that profit after tax is £97,743 and net equity is £14,991. The bank statements demonstrate reasonable affordability and the accounts remain well in credit.
The business advised that they will be affected by higher energy prices, although this can be offset by their kiln firing prices. As the majority of lending to the business is at a fixed rate, they will not be immediately affected by interest rate increases. The directors do not expect to draw money from the business all capital is vital for the growth of the business. Bluematchbox Potters Supplies advised that they are less likely to be impacted by inflationary pressures as long as they can pass on the price rises.
Where will the funds go?
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"Provide a leading potters supplies solution"