Funding the sparkle in cosmetic dentistryPublished on 20th October 2016 2016-10-20T17:27:35+00:00
More and more of the British public are becoming aware of just how important a flawless appearance really is. Whether they’re meeting friends, going on dates, attending job interviews, Brits are realising the necessity for an impeccable well groomed image. As such, not only are manicures, facials, hair removal and eyebrow trimming sessions in high demand, cosmetic dentistry is too.
When it comes to creating that all important first impression in any situation, there’s no room for error. No longer are stained or yellowing teeth being dismissed, Brits are demanding white sparkling teeth. So whether you’re a salon owner or a dentist, adding cosmetic dental services to your forte is certainly a smart business decision. However, acquiring the necessary facilities and equipment can be pricey.
If you’re a salon owner, extending or adding another room to your premises may be required. This will enable you to comply with essential health and safety regulations and hygiene standards. Plus you’ll need to need to secure a host of vital tools and equipment including: dental chairs, jet dental flossers, air abrasion and polishing tools, whitening kits, diode lasers, bleaching lamps, whitening heat diffusers and more. All this combined with the cost of extending your premises can run into hundreds of thousands of pounds, a sum no developing business can afford to part with in one go.
However, before you throw your arms in the air and dismiss the notion as impossible, Rangewell can help. With our support and guidance, we’ll source the perfect funding option for making your business’ aspirations a reality. We’ll grant you access to a diverse, fully customisable range of funding options including: asset finance and practice finance.
Practice finance helps grow and develop your business in a number of ways such as: improving facilities, refurbishments or adding extensions to your premises. This package offers your business tailor made loan options that can help boost the efficiency of your existing facilities, improve your reception areas or even add new rooms entirely.
Where as, asset finance is the means in which many businesses secure the essential equipment they need to run day-to-day operations and more. This package offers you a number a number of acquisition methods such as: loans, leases and hire purchase solutions.
Loans: With a loan you can borrow anything from £5000 to £1 million. Unsecured loans let you borrow money for your business without putting assets such as your house at risk. To reassure the lender, a guarantee that you’ll pay the money back in due course will be required. Meanwhile, a secured loan may allow you to borrow more money as it boosts lender confidence. The reason for this is that assets can be sold to recover costs should a business fail to pay back the loan.
Leases: A great option for those who don’t want to be encumbered with the burden of ownership. Instead, you’ll borrow equipment for a period of time and will be required to make monthly payments, plus interest. Leasing terms can last from 1 – 3 years, subject to your agreement. Monthly payments are manageable, allowing you to pay from your business’ revenue stream rather than your capital.
Hire purchase: If you are seeking to eventually own the equipment in question but can’t afford to make full payment straight away, hire purchase is for you. You’ll be required to pay an initial deposit in the region of 10% of the asset’s value. From there on, you’ll be making monthly payments, plus interest. Once these payments have been completed ownership passes onto you.
At Rangewell, we can help add the glint to your customers’ smiles. Our values are simple – we’re on your side. We support a wide range of SME businesses of every shape and size, for finding every type of finance. Follow us on Twitter and LinkedIn for business tips and tricks, and feel free to call us on 0203 637 2340 if you’d like to chat about what we can do for you.
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