Let’s get down to business

SIMON Ascott is the owner of Imma The Bakery, an award-winning bakery in Stoke Row. He is married to Annie and has three children.

Describe your business:

Imma The Bakery is a small business which offers a range of quality, artisan breads and pastries.

How many people does it employ?

We employ 15 people across the business from bakers to delivery drivers.

What did you do before you started this business?

I was a commercial director for a range of food businesses in the UK and internationally.

When did you start your business?

Tona, my business partner, and I started the business in March 2022 when we rented a small part of a unit on the Van Alloys Industrial estate in Stoke Row and purchased our first oven.

What was your objective?

Simply to provide great quality products on time, for our community.

Do you have a mentor or role model?

We have a number both within the food industry and from completely separate sectors. All have offered their help and support. The best piece of advice has been to watch the cash and not rush growth.

What would you do differently if you starting again?

I would take more time and establish a cash buffer for the business after 24 months. This was thrown up in the air when we won Britain’s best loaf for our Oxford sourdough. Our decision was then to ensure that we could expand our capacity and retain our customer base.

How is your business doing compared with last year?

Our business is continuing to grow week on week at a significant level. Our success is measured by customers coming back and wanting to understand what we are planning to do next and be a part of our development.

Do you compare on a regular basis?

We compare all parameters, hourly, daily, weekly, monthly and annually. We need to understand what our customers need from us and adapt accordingly.

How do you market your business?

We market ourselves via Instagram and our website, and we have further exciting developments coming in 2025 as we ramp up capacity.

Where do you add value?

Our community oven. We have offered this since energy prices dramatically increased after the invasion of Ukraine. We predominantly bake in the early mornings and from late morning we offer our customers the opportunity to bring along a casserole or stew to be cooked while our ovens are cooling down.

What’s the best thing about running your business?

Building a strong team, meeting our customers, local suppliers and becoming part of the tight-knit community. We know personally our egg, flour and butter suppliers and this helps us to build our business.

What’s the most challenging aspect?

Cashflow is the biggest concern for any small business as new business support is very limited and not easily accessible.

How important are online sales and why?

This is currently a small part of our business. However, we believe it will become more important as we move into 2025. Online offers both convenience for our customers and enables us to be able to plan production.

Do you have a five-year plan?

Yes but being able to adapt and manage the medium term is also critical, so 12-month and three-year plans have relevance.

Do you have a work-life balance?

In such a new business, you don't really have a structured work-life balance. This is something built into the five-year plan but when you are working on something you love, it can become all consuming.

Do you set goals at the start of a new financial year?

Yes, goals are key for understanding what you are doing and need to be reviewed and reset on a regular basis to ensure that they are relevant.

What’s the most valuable thing you’ve learned?

Be able to adapt and identify what you need to do quickly and clearly. Planning is important but to quote Mike Tyson: “Everyone has a plan until they get punched in the face.”

What advice would you give for starting a business?

Do your homework, make a plan and go for it but be willing and able to adapt. Also, watch your cashflow.

What’s the biggest mistake you’ve made?

Our biggest mistake has been to underestimate what we are doing and then winning Britain’s best loaf in our second year of business.

How organised are you?

Very. You have to be in order to ensure that you both understand and can manage what is going on.

How are you planning for retirement?

I am not looking to retire, I love what I do.

What’s the secret of your success?

Teamwork and trust and say what you are going to do then do it.

Interview by Will Hamilton, intermediary
and global marketing consultant, Hamilton Associates