The Three Stag – Cash Advance Case Study
What do you when a nearby major tourist attraction closes, and your regular trade starts to drop….
Customers just vanished
The Three Stags, a gastropub in South East London, relied on a nearby major tourist attraction for the majority of its customers, with 90% of lunchtime and afternoon trade not local to the area.
So sales and cash flow took a major hit when the Museum closed for several months.
Owner/manager Richard Bell was at a loss. “We needed to make £12,000 a week just to break-even but weren’t bringing in anything near that. I went to my bank for financial help but didn’t qualify for a loan.”
It was Ashley’s shout
Richard asked Ashley to help and we gave him a business cash advance of £30,000. It was paid back via credit or debit card sales at variable amounts to suit the trading situation of the pub.
“The money really was the pub’s saviour during that period”
For a rainy day
The Museum did reopen, but may have to close again in the future for refurbishments. Richard knows what he needs to do now.
“Things are really looking up for us again now but if trade is like it was last year I’ll use Ashley Business Finance again. I’m taking a long term view on it and will use these cash advances from Ashley to weather the storm.”
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