The business review enables you to have a clear view of the targeted investment. It can be ahead of the detailed due diligence or part of them, depending on your needs. The scope of work can evolve but it would typically include:
a strategic review,
a market and competitive assessment,
a sales pipeline review (if relevant)
a team assessment,
an operations review (if site visit - if relevant)
a financial view based on the base business case provided by the company,
a business model review.
It is based on discussions with the management team and extensive research. It will preferably include on-site visits.
Typical deliverable: investment note including diagnosis of the company, SWOT, investment pros and cons.
You can't manage all your deal flow but you don't want to miss any opportunity. We set up a scanning framework based on your investment criteria. We scan the projects and filter them accordingly. After a first document-based filtering, we can have a first interaction with the project owners and prepare a set of key questions to move forward. The scope of our work can go up to the firts meetings, depending on your needs.
Typical deliverable: project scanning report, set of questions, first meetings.
Business plan - detailed review
This is an in-depth review of the business plan. We engage into a discussion with the entrepreneur and challenge all their assumptions: sales, prices, margins, distribution channels, sales cycle, marketing and customer acquisition cost, ramp-up, road map, phasing, production, development, headcounts, salaries, other operational expenses, financing assumptions, cash assumptions.
We then stress the business plan to assess EBIT, cash need and IRR.
This work can also be done post-investment when a new CEO or CFO joins or when the company pivots.
Typical deliverable: amended business plan with scenarios
We can help you sourcing projects in industries to be defined together with you - such as e-tourism, e-health, edtech - or in specific geographies such as France for UK investors or UK for French investors.