Baker Watkin chartered accountants and business advisers

Baker Watkin

Middlesex House

Rutherford Close

Stevenage SG1 2EF

t: 01438 750555

e: enquiries@bakerwatkin.co.uk

Purchasing the Bike Pavilion

Testimonial from Paul Godman, The Bike Pavilion

“Andrew Watkin was introduced to me by David Walford, The Royal Bank of Scotland when we were involved in the acquisition of The Bike Pavilion. He was a highly respected member of the team and someone I trust implicitly.

“We worked closely on the figures to adjust and amend as the business is seasonal by nature, so that we were both happy with the Business Plan. He was always prompt at returning my calls and helpful with the right advice.

“In all aspects Andrew was always brilliant, respected and a nice chap. In fact a great person to do business with and very personable.”

About the Bike Pavilion

The Bike Pavilion is a new kind of bike store encompassing a bar lounge area and a club meeting point. The store offers a total bike experience for anyone visiting to buy a motorbike, scooter or accessory and they provide servicing, repairs and MOTs on site.

Baker Watkin and the team successfully completing the purchase

Paul Godman and Tim McDowell have a vast knowledge and long experience of selling motorbikes and they wanted to purchase The Bike Pavilion. They approached David Walford of The Royal Bank of Scotland for capital.

The loan needed to be raised through the small firms loan guarantee scheme, whereby 75% of the funds are guaranteed by the DTI. Andrew Watkin from Baker Watkin, Chartered Accountants and Business Advisers represented Paul and Tim, and he acted as the corporate financial adviser working in association with The Royal Bank of Scotland.

Andrew assisted by producing the accounting documents to satisfy the bank so Paul and Tim would receive the funding required for buying The Bike Pavilion. Due to the seasonality of the business and the varied product lines (new/used bikes, parts, clothing and servicing) all with different margins, this was a complex procedure of flexing the lines according to sales so that the accounting statements produced truly reflected the seasonal nature of the
business.

Andrew believes that the success of this purchase was down to Paul and Tim knowing the business very well and being able to assist in producing a correct model for the financial forecasts.

Paul and Tim are committed to growing the business and in the future they plan to extend their franchise to include other makes of bikes. With the growth of traffic on the roads and people opting for a quicker alternative, owning a motorbike is becoming more popular. The Bike Pavilion’s new kind of store provides customers with a relaxed and comfortable environment to view and buy bikes at their leisure.

If you want to achieve your business objectives, via acquisition, sale or succession or would like further information on our services, please contact Andrew Watkin on 01438 750555 or by e-mail at enquiries@bakerwatkin.co.uk