Grip Hero

Challenge

When Oli Yeo came to Simpkins Edwards, he had the design for a product that addressed the age-old problem of keeping your hands clean when refuelling your car; a solution that meant you’d never have to go in search of hand protection because it would always be there on top of the fuel nozzle.

He had a killer product with the potential to become a multi-billion business in ten years. What he needed was a team of accountants experienced in all the stages of starting a company, capable of advising on investments, shareholding and trading internationally; a team that also offered long term assistance for a rapidly growing business.

Solution

For Oli, Managing Director of GripHero, Simpkins Edwards ticked every single box; handling the official company formation, legal documentation, the framework for the company share structure and the shareholder agreement.

But more than that, under their monthly service package they provided book keeping, accounting, financial control and formal returns plus a range of other options including ongoing start-up, business and financial advice.

In Oli’s view this was a refreshing, tidy and easy way of working together, which few other accountancy firms offer. It’s a solution that has enabled GripHero to rapidly grow its business.

Having set the business up in January 2017, by April, following three days at the NEC Forecourt Show, Oli’s team had 1,500 expressions of interest from forecourt owners, 500 pre-orders and leads with three of the top dozen pump manufacturers, each of which installs pumps at over 250 forecourts every month. With an international patent already in place, Oli’s not only ready to take GripHero to the UK market but worldwide too. Now that’s quite something to get to grips with; that’s the smell of success, not fuel.

“Simpkins Edwards has a forward thinking, proactive approach that we really like. They advise and guide on the best course of action to take; they’re your extra man on the team, handling all intricate finance matters on your behalf. It’s a breath of fresh air and their monthly service package offers excellent value for money. With their understanding of the intricacies of finance, I’d have no hesitation recommending them to other businesses looking to start or grow their business.”
Oli Yeo, Managing Director, GripHero