Juici Jerk – Spreading the Caribbean flavours across London through our Virtual Finance Director (VFD) Services

Overview
Jarrell and Troy’s passion and love for cooking pushed them to bring a unique dining experience to the people of London.

With a household kitchen in South West London, they aim to offer a Contemporary Caribbean dining experience with an urban twist by utilizing their British & West-Indian heritage.

Capitalizing on several years of experience in the retail and hospitality sector, both the owners laid the foundations of Juici Jerk in 2017.

In their words:

“Caribbean roots run deep into our blood and we try to portray their vibrancy, the colour and the history all through our dishes”

Challenge
Jarrell and Troy never had a healthy relationship with their former accountant. Though they had offices in the same building, the accountant lacked functional knowledge of the client’s business and was unable to offer the right financial advice. Along with the accounting services, owners of Juici Jerk also needed experienced finance professionals who could extract real-time insights to help their business grow.

The owners were quite concerned about Juici Jerk’s cash flows decreasing but were not aware as to which revenue stream contributed the most to cash outflows.

How Lanop Helped
When Juici Jerk approached Lanop for its accounting services, we explained the procedure of switching the accountant to the owners first.

While the end of the year is usually not an appropriate time to change the accountant, the owners were advised to write an email to their current accountant informing them to furnish Lanop with any requested information. Our article on how to switch your accountants contains more details on this.

Lanop went out of its way to help Juici Jerk through this process of switching their accountants.

Lanop first started providing accountancy services to Juici Jerk in 2019 which included preparation of management and financial accounts, statutory compliance, and VAT advice.

As Lanop believes in adding value to client’s businesses in numerous ways, one of the ways we did so was by connecting Juici Jerk with other businesses. The owners were introduced to reliable business partners including legal professionals, insurance brokers and marketing experts.

We then provided Virtual Finance Director (VFD) services to Juici Jerk by performing an in-depth analysis of the external ecosystem that could influence their business’s growth.

Lanop’s in-house finance advisors used Juici Jerk’s historical financials and made Juici Jerk aware of the business and profitability of all streams – factoring out the pandemic effects on its operations.

The VFD services also brought a fresh perspective to Juici Jerk’s spending on marketing activities by seeking advice from the in-house marketing experts and coming up with innovative and cost-effective marketing solutions.

Client Remarks:

Expressing his satisfaction with VFD and other related services, Troy Johnson, owner of Juici Jerk remarked:

Caribbean roots run deep into our veins and we try to portray the vibrancy, the colour, and the history all through our dishes. It has been the best decision we have made this year hands down. Running a small business is hard but knowing you have a good, resourceful, and responsive Virtual Finance Director makes the utmost difference.

Before signing up we did not understand much about the finance side of running a business. In the eleven months that we have been with them, it has been a massive learning curve.

What made Lanop’s VFD services especially attractive was the fact that they cost 1/5th of an actual finance director’s remuneration (around £50K – £60K annually), making it quite economical for a business like ours. 

 

 

 

 

 

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Client:

Juici Jerk

Country:

United Kingdom

Sector:

Food and Beverage/Hospitality

Services Provided:

Virtual Finance Director Services, Annual Accounts, Management Accounts, Statutory Compliance, VAT Advice, Business and Financial Advice

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