Personal trainer Max Jenkins wanted to set up a new gym business in Scarborough. Before coming to Funding Options, he’d already laid the groundwork for his business, but because of changing circumstances and a limited knowledge of what was available in the market, he wasn't sure exactly how much he would need.
After our first conversations with Max, asset finance seemed like the obvious choice — he would need to buy a large amount of gym equipment to get things up and running. He also showed a solid business plan, and had a leasehold premises arranged for 5 years, so equipment was one of the key missing pieces.
But it soon became clear that it would be better for Max to have some flexibility — so rather than having equipment-specific finance, we looked for a general purpose loan that he could use for balancing cashflow or paying rent as well as getting fitness machines.
Once straightforward asset finance was ruled out, Max had two choices — a sale and leaseback, securing funds against equipment he already owned, or a secured loan over a few years to provide cashflow when needed. Max decided on the secured loan as a better fit for his plans.
Since then, Max has been able to draw funds as and when he needs them. Not only is this a flexible arrangement that gives him the freedom to plan for the future — it also means he only pays for what he uses.
Finding the right finance meant Max could get his new gym fit-for-purpose — and Body Sculpt Conditioning is open for business.
Find out more about Body Sculpt Conditioning
"I wasn’t sure what kind of finance I needed, but Funding Options made the process simple. It’s been great to have the loan for a variety of uses without being tied into a set amount, and this flexibility has helped me get the business going. I’ve also come back for extra funding when my situation changed — I couldn’t have done it without Funding Options"
Max Jenkins — Owner, Body Sculpt ConditioningApply Online or call 0333 344 1015
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