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Since trampolining was first included in the Olympics in 2000, the sport has exploded in popularity. Demand is growing across the country - but answering that demand can be frustrated by the difficulty of securing funding. At Rangewell, we can provide solutions.
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Trampolining offers a popular way for people of all ages to stay fit while having fun. The activity is suitable for families, popular with serious athletes - and fun for all. With many children and young people having grown up with small-scale trampolines in back gardens, there is a growing demand for trampoline parks when full-size trampolines and professional training can be enjoyed.
Most trampoline parks in the UK are indoor facilities, allowing year-round use. Fitting out can cost a minimum of £175 per square metre, meaning that a large facility will mean a very large investment - however, most banks and traditional lenders have a limited understanding of the industry, making it difficult to find funding through conventional sources.
Buying premises and fitting them out will not be the only costs to cover.
Fortunately, there are financing solutions available through financing companies which specialise in the leisure sector.
At Rangewell, we recognise the special needs of trampoline park operators - and we put our expertise to work to help them find the business funding that they need.
The funding solutions your trampoline park business needs
You may need help to find the most cost-effective funding solutions to:
- Start up
- Fund premises
- Support your cashflow
- Provide equipment
- Deal with tax
- Deal with problems
Starting up a trampoline park business
A trampoline park business can require substantial investment due to the need for large premises - and it can be difficult to find in the funding to launch any new business. Traditional bank loans may be particularly difficult to secure; banks prefer to deal with established businesses who can demonstrate their profitability. As you are starting up your business will have you have no trading history or accounts to demonstrate that it will be able to repay a loan.
However, there are solutions if you need to raise cash. Venture Capital may be one solution which can provide the necessary levels of funding. It allows you to raise capital by selling a share in your business. Venture Capital funding does not have to be repaid as a traditional loan does, as it is an ‘equity’ investment- or a stake - in your business. It could bring you the funds you need, but it also has some serious drawbacks.
Venture Capital investment means that, in exchange for the cash, an individual or corporate investor will take a share in the business - which could cause problems if their approach is different to yours, or they wish to cash out. There is a real danger that you could lose control of your company.
If being your own boss is one of your key reasons for starting your trampoline park business, you may want to look at the alternatives. Fortunately, at Rangewell, we know that the lenders who can look favourably on your business plan and provide the funding you need to get your start-up business off the ground, including how to approach them for the funds you need. Some may require security and often require a personal guarantee, but it is often possible to structure a loan with repayments that meet your business needs.
To understand how to get the funding you need, it helps to look at the expenses you face.
Fund premises for your trampoline park business
The cost of leasing suitable premises for your park will depend on your location and the square footage you require.
A large warehouse may be the most cost-effective type of building, proving both floor space and height - but, of course, demand for warehouse space will always be high.
We can provide solutions for renting suitable properties. Of course, renting will mean ongoing costs and leaves your business at risk of rent increases. We can help source Commercial Mortgage solutions which will let you buy the premises you operate from or buy a new property for the future.
Working capital and cashflow support for your trampoline park business
As a trampoline park business, your operating costs may be modest - but you will still need to find funding to pay staff and keep the lights and heating on from the moment your doors open for business.
Solutions such as Overdraft Replacement may be able to provide cash in an emergency, but it may be best to provide a more permanent solution.
There are a number of cashflow support and working capital finance solutions that can provide cash to deal with these costs and overheads. These are designed to provide a cash lump sum to help you deal with the bills and will usually be designed to be repaid in the short- to medium-term, once your business has developed enough to provide a steady income stream.
Provide equipment for your trampoline park business
As a trampoline park business operator, you will require specialist equipment to run your business. The trampolines you need will be expensive - and you will need nets and safety equipment.
The list of equipment you need will not stop there. You will also need to furnish your office, and set up a refreshment area to make the most of your potential for profits. Showers and changing rooms may also need to be provided, depending on the facility you are providing.
Asset Funding can usually provide the most cost-effective solution for most business equipment needs.
There are several types of Asset Funding. Hire Purchase may be ideal for items that you will wish to keep, such as desks, chairs and document storage. Leasing may be more appropriate for your IT, as it will allow you to update to use the latest and most reliable technology whenever you need it.
Helping your trampoline park business deal with tax
Your trampoline park business may face large quarterly VAT or annual tax demands. These can cause problems with cash flow, with major expenses that need to be funded without delay.
Tax Loans help you to spread the cost of your tax demands into affordable regular monthly payments. They can also help you avoid issues with HMRC, with the potential penalties and reputational damage that may entail.
Helping your trampoline park business deal with financial challenges
Any business can run into financial difficulties. Discovering that you cannot meet your immediate commitments could mean that problem escalates rapidly.
At Rangewell, we understand the solutions which can help your business deal with this kind of challenge.
Even if you have a current financial problem or you have a damaged credit history or CCjs, we know the lenders which can help.
How we help trampoline park owners capitalise their business
At Rangewell, we understand the challenges your trampoline park business faces. Our team is made up of finance experts with backgrounds in various sectors. So when you call us, you can talk to someone who knows the leisure business, the challenges you face - and the answers to them.
Whether you have a straightforward finance need or your business requires a more complicated ‘Jigsaw’ funding plan, made up of a combination of products, we can work with you to find the answers that are right for you and your plans for the future.
Simply call us to get our expertise working for you.
REAL EXAMPLES OF WHAT WECAN DO
Find the most competitive loan to support cashflow in a recently-launched trampoline park
Help find finance for a new trampoline business to acquire redundant cinema premises in North London
- Source the most cost-effective Commercial Mortgage to allow a small business to buy the latest trampoline equipment
Help a arrange ‘Jigsaw’ Funding for a reverse takeover of a large, established business
Set up emergency Cashflow Finance to support a business when there was a planning problem
Discover our range of finances
Every type of finance for every type of business
Our goal is very simple - to help businesses find the right type of finance as quickly, transparently and painlessly as possible.
Helping you build your profits
Lending tailored to your trampoline park businessAt Rangewell we can help you find the most appropriate and affordable finance for any funding need your trampoline business has.
Work with experts who understand the leisure sectorAt Rangewell, our team includes experts in both the leisure sector and new businesses. We understand your needs and know the solutions to them.
Providing solutions for equipmentWhether you need specialist trampoline or safety equipment, or even a business vehicle, we can provide the funding you need.
Reducing riskSome types of funding can present a risk to your business, but we can find the solutions that minimise any risk.
The scale of funding you needThe more business you do, the greater your funding needs may be. We can find funding to grow with you.
Affordable Cashflow solutionsA large cashflow support facility may be costly. We can help ensure they are manageable.