Meet the client
Born out of a collaboration between Granby Four Streets CLT and Assemble that won the 2015 Turner Prize, Granby Workshop is an architectural ceramics and design manufacturer based in Liverpool. It focuses on high-quality, bespoke ceramics for business interiors and projects.
The company’s strong ethical values are reflected in its materials and practices (the team managed to develop a 98% recycled ceramic!). In 2019, Granby Workshop became a Community Interest Company (CIC) with a mission to contribute to the Liverpool 8 community through studio spaces and employment opportunities.
The challenge
Granby Workshop had to face the challenges of getting back on track post-pandemic. They needed help establishing a budget, a cash flow forecast and fair pricing for their products to aid their sustainable growth.
Granby Workshop has experienced fast-paced growth over the last two years, winning a number of major contracts, including with Lush. This has brought new challenges to manage growth sustainably. Granby has had to invest to increase the capacity to deliver, which has brought new costs. With new sales and income not always arriving when expected, cash flow management can sometimes be a major challenge.
How Adding Value helped
Granby Workshop’s growth led to the addition of new managers who were new to managing finances. Our team provided guidance, support and training to help them gain confidence in this new area of business.
Alongside coaching and strategic intervention, we also:
- Operated a detailed rolling cash flow forecast
- Provided bookkeeping
- Prepared and filed their VAT return, including international trade elements
- Helped them with costing, pricing, and identifying what the gross margin is for their products
- Helped them to plan and manage their costs to fit within their income base
- Hold regular finance meetings with the team
- Are helping them to build a strong business case to apply for future funding
Our work with Granby Workshop resulted in them gaining invaluable knowledge and skills to navigate an uncertain period in their journey. We provided additional pro-bono support when it was most needed.
Adding Value helped us to get through some major financial difficulties. Thanks to their knowledgeable team, we’ve kept our costs down, sales are coming through again and we’re back on track toward sustainable growth.
Takiyah Daly, Co-executive Director – Granby Workshop
