Pub aims to double business after securing new business loan
A MIDLANDS pub has doubled its accommodation facilities and secured a new supplier contract after agreeing a £350,000 business loan.
The Farmers Boy Inn in Ross-on-Wye is increasing its bed and breakfast space from four to eight rooms and is also using money from the Lloyds TSB Commercial loan to improve other areas of the business.
Set on the Herefordshire and Gloucestershire border, the pub is an award-winning 17th century family-run inn famous for its selection of home-cooked pies and home-cooked British food.
The business, which has been owned by husband and wife team Phil and Manda Kiernan since September 2000, has an annual turnover of £500,000 and employs 12 people. It also has a pie and deli shop that is affiliated to the pub, which sells locally sourced produce, as well a nationwide pie delivery service ‘MadaboutPies.co.uk’.
The pie business has recently secured a significant new catering contract with Worcester Warriors Rugby Club to supply it with more than 30,000 pies. After delivering a presentation at a recent Lloyds TSB Commercial event held at the Premiership club’s Six Ways stadium, Mr Kiernan successfully pursued the catering contract after the bank’s relationship manager Mark Corfield suggested the business merits of supplying leading local sporting venues with the pies.
Mr Kiernan said: “Lloyds TSB Commercial has been incredibly supportive of our efforts. In particular, the initial introduction and strategic input that has led to our recent contract win with Worcester Warriors Rugby Club.
Mr Corfield said: “The inn is a well-established and highly respected business. The pub has a loyal and yet diverse customer base that spans regular locals as well as a growing number of visitors from outside of the area.
“Our investment and on-going support of this business is a result of the clear strategic objectives that Phil and his team have outlined in order to maximise future growth in the company. Their success in securing a significant new supply contract with Worcester Warriors Rugby Club embodies the passion, energy and drive for future growth that is testament to the business’ success.”
