Our experts have been chosen to provide our members with support and strategic direction in several areas.
Including; income generation, retail operations, investment review and governance.
The 2021 accounts of Charitable Hospices, collated by Hospice UK, denotes that the total average amount of profit derived from over 2,500 Hospices shops across the UK is 7%, with a total retail profitability of £70m, however, the bricks and mortar marketplace, as a whole, continues to be under pressure with diminishing returns, but help is at hand.
HQP has partnered with a bespoke, results orientated consultancy, the Charity Retail Consultancy (CRC), which was founded in 2010 by Jayne Cartwright. Jayne now works alongside Vicki Burnett, and both have worked in the charity retail sector for over 30 years and bring a wealth of experience in managing local, regional and national chains, for example: St Gemma’s Hospice in Leeds, Save the Children UK, The Children’s Society and YMCA England.
CRC helps charity shops to develop their retail operation, improve their product offer, their people and grow their profitability. Support is given across a wide range of services to help tackle the difficult challenges of e-commerce, green credentials, social media and shops management.
As we move out of the pandemic, it is clear that the pressures on the established Hospice business model that were evident even before March 2020, are now greater than ever. Whilst the Government money for the sector helped mask the impact of Covid, at least in England, many hospices are projecting significant deficits for the current year.
The latest Hospice Accounts report shows that the return on investment, for each pound spent, from hospices voluntary and earned income streams continues to fall. In 2012 it was £2.61; in 2020 it was £2.20. Moreover, total hospice legacy income has been falling since 2018. As research by Legacy Futures has shown, the sector is increasingly losing market share to other charities that have been more pro-active in marketing gifts in wills. Unsurprisingly, many hospices are now looking at alternative commercial income generation activities. But there is also scope to improve performance in existing revenue streams.
To assist Hospices in their approach to income generation, HQP has partnered with David Burland, an experienced fundraising consultant, who will deliver practical advice around strategy and operations. David has worked in the voluntary sector for over 30 years, bringing vast experience from his time as a Director of Fundraising at local and national levels, as well as a Hospice Chief Executive, a Trustee and a Director of several charity-related enterprises. In recent years, he has advised a number of hospices around their income generation activities and strategies.
Good governance is fundamental to a Hospice’s success. It combines ensuring compliance with the law and relevant regulations with promoting a culture in which everything works towards fulfilling the vision. Moreover, good governance involves building a supportive but appropriately challenging relationship with the Executive Team. The model below encapsulates this.
Completing a governance review demonstrates your commitment to run your Hospice according to best practice and to build trust in your organisation. Moreover, regulators, commissioners and funders increasingly want to see some form of governance accreditation as part of their assessment of an organisation’s suitability as a partner or beneficiary.
To support Hospices in their ongoing governance, HQP has partnered with David Burland and Digi-Board, to deliver governance reviews and board evaluations. David has worked in the voluntary sector for over 30 years, bringing in-depth experience from his time as a Hospice Chief Executive, as a Trustee and a Director of several charity-related enterprises. He has also undertaken many governance reviews for charities, facilitated strategic workshops for Boards and Executive Teams and run trustee governance training sessions.
Digi-Board is a leading provider of online governance reviews for charities and not-for-profit organisations. Their sophisticated tool is based on the principles of the Charity Governance Code but also considers other important areas such as safeguarding. Users can rate current performance, identify areas of improvement and add their own comments and views to provide a detailed and multi layered analysis of governance performance. There is also the chance to benchmark your results against all previous users of the tool. A bespoke, in-depth report and recommendations can also be provided.
The 2021 accounts of the Charitable Hospices, collated by Hospice UK, denotes that the total amount of money invested by the Hospice community stands at £663 million and with ever more scrutiny from the regulator and the public, it is paramount that Hospices acquire the most from their investments.
To assist Hospices in this challenging environment HQP has partnered with a specialist investment review consultant, Paul Mitchell, who will deliver Hospices with a clear, concise and cost-effective method of reviewing their investment arrangements.
Paul has 30 years of experience working in the charity teams of several leading investment houses and can provide insight into the relationship required between charities and their Fund Managers to ensure that the stewardship of their valuable assets is undertaken at the highest possible level.