Another year in reflection

The last two years have been phenomenal!

As Pattersons Commercial Law turns two years old, I have come to the realisation that we (our small team of seven) have created a law firm and what I hope to be a sustainable business for the distant future.

As I did a year ago, I’ve taken the opportunity to reflect on the last two years and think about the year on year developments, what I’ve learned about the business (and myself) and what we are doing to plan ahead.

When I put the business plan together right at the start, I looked at our business as three distinct phases of growth spilt over three years.  It is fair to say, as we close the chapter on phase two of our growth and stability plan, I’m taking a good look at what has worked for the business and what needs to be done during phase three.

Reflection

As with a year ago, we have worked with some fantastic business owners (whether as clients or as fellow professional advisors) and it continues to bring a smile to my face when we achieve their goals (whether that involves selling a business, taking on new premises or buying a business as part of their growth plans – there are of course lots of things in between!).

Our fixed fee model continues to work well as it offers transparency to everyone involved.  It means we spend less time watching the clock and more time doing the work!

We’ve invested in our new office, our team in their training and development and in our infrastructure.  We have plans to carry on doing so as we aim to recruit three more into our team over the next 12 months.

We found some success with our involvement in Leicester College’s Pitch Your Passion completion which saw six teams share in substantial prizes sponsored by us in conjunction with The Sir Thomas White Loan Charity.  We are now hard at work planning next year’s competition!

We also managed to win our first ever award – the Best New Business at the Niche Business Awards 2018.  We are extremely grateful for the judges seeing the hard work we have put into becoming a good business as well as a great law firm.

In terms of our charity work, we are a proud sponsor of Alex’s Wish and we took part in the World’s Biggest Coffee Morning which saw more than 100 people pop into our offices to help us raise more than £2,000.00 for Macmillan Cancer Support.

Looking Forward

As we enter phase three of our growth and stability plan, I have considered what it means to be a commercial law firm in the modern age.  There are many law firms out there who do what we do and therefore I see our goal being to:

  • challenge the ways in which traditional law firms are set up;
  • continue to provide diligent professional advice, first class client care and value for money; and
  • build a team of highly skilled professionals who understand our mission.

We are a proud supporter (a type of sponsor) of the Leicester Business Festival and we are really looking forward to continuing to support the Leicester Business Festival over the next few years.  Their values in bringing the business community closer together sit very comfortably with our own.

The Takeaway?

I’d say the last two years have been great.  Now we just need to keep moving ahead, continue to work diligently, give professional advice and be all the things a law firm should be.

 

Rik Pancholi

Director and Solicitor

 

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Pattersons Commercial Law advises Nursery Owner

A Nottingham entrepreneur has added two further nurseries to his growing portfolio as part of a major expansion supported by Barclays and Pattersons Commercial Law.

Simon Johnson, who already owned Lambley Day Nursery in Nottinghamshire has now added Little Stars Nursery’s two sites and an out of school club in Hilton, Derbyshire to the group in a seven-figure deal.

Mr Johnson, who previously worked in the financial services sector with before embarking on a property development career and latterly into nurseries had been looking for additional sites that suited his business model for the last three years.

‘I actually went to school just down the road from the nursery so this is a pretty special feeling,’ explains Simon. ‘We had been looking for the next site for some time because it has to be the right fit in terms of what we can do to add value and where the existing business is viable with potential for further growth.

‘That said, whilst there is an element of seeking a ‘’plug in’’ business, each venue is always going to have its own characteristics and its own customer base. Our job is to learn what has been working well to date, which in the case of Little Stars is a great many things, and then to ensure that everything is a good as it possibly can be by using our infrastructure to create new opportunities and of course economies of scale.

‘We operate as a group but each nursery will retain its own identity and brand as that is very important for their employees and of course their customers who appreciate the familiarity of each individual nursery. We are here to offer a solid structure for them all to thrive, safe in the knowledge that they have the protection and support of the group behind them.’

Rik Pancholi of Pattersons Commercial Law who advised Simon Johnson on the acquisition said;

‘Simon has built a very scalable business model and his biggest challenge in terms of growth was always going to be finding that next business that fits the model but also can stand on its own two feet. He has found that with Little Stars and I am delighted for him as he embarks on the next phase of his business.’

Robert Barke, Relationship Director at Barclays commented;

“Little Stars is part of a group with a solid strategy and vision for the future led by Simon. We are delighted to have been able to support him in the next phase of the group’s development and their longer term growth strategy.’

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Leicester Business Festival 2018

We are proud to be a supporter of the Leicester Business Festival 2018 which takes place from 29th October to 9th November.  The festival will see the county and city come alive with a fantastic fortnight of events that will showcase the best of business from across the region.