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It was all worth the wait for Sue and Robert
Our support helped affirm the direction and planning for the business, helping to build confidence and gravitas in the small business community Peter Mitchell, Yorkshire Coast Enterprise Ltd
With long established senior careers in the corporate world and education sector, Sue and Robert Wildsmith had the perfect amount of business acumen to develop their own start up business.
Their idea was to develop a Micro Pub selling real ales, quality wines and ciders in Whitby, North Yorkshire. Rob and Sue wanted to change the drinking landscape in Whitby, offering something new to residents and tourists.
The climate for starting a business selling alcohol is not good in the UK. Pubs are going out of business on a daily basis and Whitby already had over 30 licensed premises including a national chain selling cut-price beers. Sue and Rob new their Micro Pub could offer something different.
Key challenges came in finding a suitable property and in developing a strong business plan specifically for this new market.
The couple were supported by Yorkshire Coast Enterprise, whose business adviser Peter Mitchell worked with them to develop a robust business plan. The tailored business plan enabled Rob and Sue to see where their break-even point was and confirmed the potential revenue opportunities identified far outweighed the costs. The plan also helped secure a £5k Start Up Loan, to support their own £70k personal investment.
The business has had a very good first quarter trading since opening in April 2016 with increased regular custom and strong recommendations helping to exceed initial turnover estimates. The duo have now turned their thoughts to expansion across Whitby and surrounding areas.
Sue and Robert Wildsmith are clients of Yorkshire Coast Enterprise Ltd, working on behalf of National Enterprise Network, delivering business support in North Yorkshire and Humber.