They say great ideas come from simple solutions – and in the case of UK Charge, that’s certainly true.
So, when Andrew Werner and Jeremy Vaughan started their public phone-charging company in 2015, they knew they were onto something with great potential.
A technology start-up that cleverly exploited a sizeable gap in the mobile phone market, their revolutionary product aimed to offer a shrewd solution to the very annoying problem of poor battery life.
Their basic idea? To provide free charging services to the general public at various UK locations, allowing them to stay connected for longer. And, in order to maximise their success on an international level, they even formed a partnership with a market leader in the USA.
We first engaged Lanop when our business first moved from concept to start-up.
But, while we initially needed their help with bookkeeping, they went far beyond that – giving us mentor support and making valuable introductions to industry contacts.
This helped us avoid a number of potential pitfalls in the tricky first few months of operation.
However, although they certainly had the naked ambition, they still needed significant investment in order for their business to have a chance of success.
In addition to this, they also needed to focus on structuring their new business on both sides of the Atlantic, which involved considerable travel across time zones, leaving little space for the administrative essentials.
Fortunately, Lanop were able to add tangible value to their vision by advising them on how to gain the required capital as well as making useful introductions to a network of bankers, venture capitalists and private equity investors. Something which otherwise would have eluded them.
‘We initially approached Lanop to help set-up our company structure and advise on what we needed to run our finances in an efficient and effective way,’ says Andrew.
‘This helped us free up our time by advising not only on accounting, but also on the bigger business areas – how to maximise profit while minimising loss and the best way to pay a fair amount of tax, while also being tax-smart.
‘As if that wasn’t enough they also opened doors to industry contacts and helped promote our ideas through them. In addition, they also helped with negotiations, marketing, investment and business planning – it was very much a holistic approach.’
‘It is a long journey but couldn’t be sweeter if you have a companion like Lanop. They really are our best friends in business.’