Private ambulances

Setting up a new ambulance business could be rewarding for you, but there will be vehicles to pay for, and you will need medical staff, a receptionist and a secure depot. Electricity and business rates will also all have to be paid for. You will need to budget to advertise your presence and to stay afloat while you build a client list and secure contracts. You will also need to invest in marketing, establishing a local presence and setting up a website.

Which all means one thing - you may need specialist Start-up Finance.

Both secured and unsecured loans could provide the answers for your plans, perhaps in combination with other types of funding.

Buying an ambulance franchise

Franchising is starting to become a factor for ambulance operators in the UK, and can offer a proven business model and, often, guaranteed contracts in return for a substantial investment. Along with this substantial initial franchise fee, there will be the usual costs for vehicles, equipment and staff. Conventional business lenders, such as banks, may not be able to help as your business is technically a start-up, therefore lacking a business history.

A specialised Franchise Loan package may be essential.

Funding for your ambulance depot

While ambulances can sit in standby almost anywhere, your business will require a place for fleet storage, restocking, and maintenance. Areas with a high density of doctors, hospitals, nursing homes, and senior citizen housing might offer the best prospects. Security for vehicles and drug supplies will be essential.  

You may need to borrow with an unsecured loan for the deposit on a long-term lease. Alternatively, you might want to consider a Commercial Mortgage and buy suitable premises outright.

Providing your ambulance fleet

Modern medical equipment makes emergency ambulance service vehicles very capital-intensive, with a range of diagnostic equipment as well as triage facilities required. Non-emergency services, on the other hand, may only require lightly-outfitted vans with a focus on accessibility.

You’ll also need all the items that are essential for running a business. A desk, a chair and a computer are the minimum you will need to budget for, and if you are servicing vehicles yourself, you may need to consider a range of garage tools.

At Rangewell, we can help arrange Asset Finance plans for all your vehicle and equipment needs. These could make the vehicles and equipment you need easier to afford by spreading the costs. Some items may be new, although you may be able to save by buying some second hand. You might also consider leasing vehicles. 

New or used?

Good quality used vehicles and equipment can be a sound investment, especially if you are setting up a new ambulance business and funds are tight. However, many professionals miss out on the potential savings because they believe they need to find the cash to pay for it.

At Rangewell we can help you spread the cost of used equipment, as well as that of new equipment, with a solution called Asset Finance. The terms and rates we can secure are often better than those offered by vehicle and equipment suppliers, and we may be able to help arrange a single agreement to cover all your equipment needs.

Working Capital Finance for your ambulance operation

Working Capital Finance is designed to help boost the working capital which is available to your business. It's often used to provide cash to pay staff and suppliers while business is slow during the early weeks and months of starting up, or during a period of growth. It is usually designed to be repaid in the short- to medium-term, once your business is fully operational and bringing in income.

Why you need Rangewell to find finance to start up your ambulance business

There are many lenders in the market, but few will provide funding to start-ups.

At Rangewell, however, we know those that will. 

Whether you have a straightforward, small-scale funding need, or require more complicated jigsaw finance for your private ambulance business made up of a combination of financial products, we can work with you to find the answers

For any type of Private Ambulance Finance, whether you're looking at VAT and Tax Loans for private ambulance businesses or even a private ambulance partner buy-ins and buyouts, call us now to get our experts working for you.