The Salad Project

A Journey to Business Expansion

About The Salad Project

The Salad Project, an exciting fresh food start-up, is the brainchild of founders and directors James Dare and Florian de Chezelles. Using their combined know-how in the hospitality industry to recreate the experience of a great restaurant crammed into a grab-and-go offering, they are now building a chain of sustainably sourced salad bars in London.

Open 7 days a week, store number 1 is adjacent to the old Spitalfields Market on Brushfield Street, in what was the Fruit & Wool Exchange, which was built in 1929 as a temple dedicated to fresh produce and fruits that were new to the British public.

The Needs of the Business

Having established a solid business model at its first site in Spitalfields, James and Florian have great plans for the business with aspirations to develop a chain. Whilst working on the expansion plans for the business, the team agreed that they needed support for the day-to-day financial management of The Salad Project.

“This is our first venture, and we are ambitious wanting to move on to site number two, and three, however, we were in danger of being too close to the business and whilst we need to work in the business, we really needed to work on the business. To enable us to do this we agreed we needed professional financial management and reporting, so we looked outside of the business and found Paperchase. Highly recommended, Paperchase had exactly the credentials we were seeking, in addition to having a true understanding of hospitality, and how we as a business operate, which was particularly important to us.

“To enable the business to develop from a single site into a chain, we needed to put our entire accounting and financial reporting into the hands of an established organisation that specialises in our sector. Now we are free to focus on the development of the group, and Paperchase provides us with regular weekly and monthly reporting, as well as much needed expert advice on the how to develop the business when seeking new sites.”

James Dare – Director, The Salad Project

What is Paperchase Delivering?

For The Salad Project to meet their new business objectives, Paperchase has taken complete control of the daily bookkeeping, sales and debtors, and the management reporting process in the business. By streamlining processes and providing clear financial and operational reporting information, Paperchase are assisting the management to enhance the control of the business whilst taking control of all supplier relationships.

“Since taking over the day-to-day financial management in The Salad Project, Paperchase now controls all the necessary business processes and financial reporting, including dealing with suppliers direct, tracking invoices, and matching with deliveries. With an eclectic menu, and grab-and-go offering, one issue that needs monitoring is ensuring VAT is correct on all sales. With so many combinations, such as hot food, cold food, eat in, take away, frozen, alcohol and non-alcoholic drinks, they all carry differing tariffs of valued added tax. Making sure the right percentage is applied to the appropriate menu item, making sure all returns are filed correctly.”

“By integrating the Paperchase back office with The Salad Project sales systems we are now able to provide a daily snapshot of the sales for the day, as well as weekly operational and financial reports to guide the business strategy week to week, rather than waiting for the month end. In preparation for the expansion of The Salad Project to a multi-site group Paperchase is now providing valuable support and advice to James and Florian as they develop The Salad Project into the multi-site business.”

-Madhvi Patil, Paperchase Account Manager for The Salad Project

The restaurant accounting support we are providing includes:

Bookkeeping – posting and storing scanned invoices, bank reconciliation, quarterly VAT workings and payment.

Sales & Debtors – extracting sales data from EPoS, sales reconciliation, debtor management, reconcile sales with Cashup and Bank.

Payroll – payroll compliance and advising on and facilitating the Tronc process

Expenses – posting petty cash via Cashup and paying personal claims after approval.

Accounts Payable – reconciling approved invoiced with supplier statements, preparing suggested weekly/monthly payment list, facilitating payment via secure BACS facility, and sending remittance advice to suppliers.

Reports –providing weekly KPI report, monthly accounts and balance sheet, expense, and balance sheet schedules, whilst assisting with Budgets.

Online Tools – providing access to ‘Cash Up Online’, online invoice approval, online payment approval, and online access to supplier/nominal ledger.

To view our range of hospitality accounting services please click here.

To speak with someone about how we could help your business please contact us here or call 0208 633 7700.

The Salad Project

A Journey to Business Expansion

About The Salad Project

The Salad Project, an exciting fresh food start-up, is the brainchild of founders and directors James Dare and Florian de Chezelles. Using their combined know-how in the hospitality industry to recreate the experience of a great restaurant crammed into a grab-and-go offering, they are now building a chain of sustainably sourced salad bars in London.

Open 7 days a week, store number 1 is adjacent to the old Spitalfields Market on Brushfield Street, in what was the Fruit & Wool Exchange, which was built in 1929 as a temple dedicated to fresh produce and fruits that were new to the British public.

The Needs of the Business

Having established a solid business model at its first site in Spitalfields, James and Florian have great plans for the business with aspirations to develop a chain. Whilst working on the expansion plans for the business, the team agreed that they needed support for the day-to-day financial management of The Salad Project.

“This is our first venture, and we are ambitious wanting to move on to site number two, and three, however, we were in danger of being too close to the business and whilst we need to work in the business, we really needed to work on the business. To enable us to do this we agreed we needed professional financial management and reporting, so we looked outside of the business and found Paperchase. Highly recommended, Paperchase had exactly the credentials we were seeking, in addition to having a true understanding of hospitality, and how we as a business operate, which was particularly important to us.

“To enable the business to develop from a single site into a chain, we needed to put our entire accounting and financial reporting into the hands of an established organisation that specialises in our sector. Now we are free to focus on the development of the group, and Paperchase provides us with regular weekly and monthly reporting, as well as much needed expert advice on the how to develop the business when seeking new sites.”

James Dare – Director, The Salad Project

What is Paperchase Delivering?

For The Salad Project to meet their new business objectives, Paperchase has taken complete control of the daily bookkeeping, sales and debtors, and the management reporting process in the business. By streamlining processes and providing clear financial and operational reporting information, Paperchase are assisting the management to enhance the control of the business whilst taking control of all supplier relationships.

“Since taking over the day-to-day financial management in The Salad Project, Paperchase now controls all the necessary business processes and financial reporting, including dealing with suppliers direct, tracking invoices, and matching with deliveries. With an eclectic menu, and grab-and-go offering, one issue that needs monitoring is ensuring VAT is correct on all sales. With so many combinations, such as hot food, cold food, eat in, take away, frozen, alcohol and non-alcoholic drinks, they all carry differing tariffs of valued added tax. Making sure the right percentage is applied to the appropriate menu item, making sure all returns are filed correctly.”

“By integrating the Paperchase back office with The Salad Project sales systems we are now able to provide a daily snapshot of the sales for the day, as well as weekly operational and financial reports to guide the business strategy week to week, rather than waiting for the month end. In preparation for the expansion of The Salad Project to a multi-site group Paperchase is now providing valuable support and advice to James and Florian as they develop The Salad Project into the multi-site business.”

-Madhvi Patil, Paperchase Account Manager for The Salad Project

The restaurant accounting support we are providing includes:

Bookkeeping – posting and storing scanned invoices, bank reconciliation, quarterly VAT workings and payment.

Sales & Debtors – extracting sales data from EPoS, sales reconciliation, debtor management, reconcile sales with Cashup and Bank.

Payroll – payroll compliance and advising on and facilitating the Tronc process

Expenses – posting petty cash via Cashup and paying personal claims after approval.

Accounts Payable – reconciling approved invoiced with supplier statements, preparing suggested weekly/monthly payment list, facilitating payment via secure BACS facility, and sending remittance advice to suppliers.

Reports –providing weekly KPI report, monthly accounts and balance sheet, expense, and balance sheet schedules, whilst assisting with Budgets.

Online Tools – providing access to ‘Cash Up Online’, online invoice approval, online payment approval, and online access to supplier/nominal ledger.

To view our range of hospitality accounting services please click here.

To speak with someone about how we could help your business please contact us here or call 0208 633 7700.