“The BID and PSP provided a simple service which enabled my business to identify large savings without too much output from my side. We were initially approached by another broker but their rates weren’t as good as the ones provided by Rishi and his team, who could look across all three of my sites to find a solution that would work best, all without obligation. The BID’s introduction to the scheme meant we knew we were dealing with a trusted partner.”
Supporting
Mrs Potts Chocolate House & Their Business Savings With Place Support Partnership
We spoke to Jared, owner of Mrs Potts Chocolate House, about his experience using Place Support Partnership to identify business cost savings.
12/06/2024
BID Lead
Paula Ratcliffe
Since August of 2022, we have been working with Place Support Partnership to provide our businesses with guidance on procurement, when considering new contracts and suppliers to help keep business costs under control. To alleviate the burden on businesses of all sizes, we offer free assistance to help you navigate these challenges and achieve the best possible value for your business.
Since our launch, our partnership with PSP has helped businesses in Bristol City Centre BID and Redcliffe & Temple BID save a combined total of over £350,000.
We spoke to Jared, owner of Mrs Potts Chocolate House on Park Street, about his experiences working with PSP.
Jared, Mrs Potts Chocolate House
“We found the process of working with the BID and PSP easy, as Rishi looked at all of our existing bills and then did everything that was required to get new quotes. All that was needed from our end was to get our latest invoices and the rest was taken care of. If it wasn’t for PSP and the BID, I may not have found the time or resources to look into this properly, as I am busy running three sites across Cardiff, Bristol and Bath, so it was really useful to have someone else take care of this. I wish I had processes like this for all other aspects of my business!”
He continued to say
“The savings identified have helped keep us afloat throughout the last year, through a critical time and helping us deal with rising costs across the business. The savings have also meant that we haven’t had to increase our prices this year, ensuring we are looking after our customers too.”Rishi, Place Support Partnership
“We are really proud to have saved Mrs Potts Chocolate House an amazing £20,000 across 6 separate accounts and with their merchant services. Since looking at this a year ago and with the market now dropping, we can now look towards next year’s contracts and see where we can find even more savings. As a result of this, businesses like these can cover their BID levy entirely, allowing them to put these savings directly back into their business to support other increasing costs.’’
“Every pound saved is an additional £10 through the till, so when you cut away all of your costs you’re left with a gross profit margin of around 10%. This means that £20,000 is a potential £200,000 in the till against rising staffing, lighting and resource costs etc.”
Paula, Business Liaison & Support Services Manager at Bristol City Centre BID
"We are here to support our levy paying businesses and this project with PSP is a great example of how, with minimal effort from you, cost savings can be identified. Subsequent savings could be utilised to buy new equipment, increase staffing or help to offset increasing costs and we’re delighted that Mrs Potts’ Chocolate House have found the service beneficial.”“If you’re a business that would like to get involved with this project, do get in touch with me so that we can arrange a meeting with Rishi.”
