We pride ourselves on the service we provide to our customers & this case study is just one example of how our team goes the extra mile to ensure a tailored and outstanding service is received by all.
In March 2015 a new start restaurant contacted us with the interest of investing in an air conditioning system, this was just the beginning of the story…
Case Study
The Power of Partnerships
In March 2015 an air conditioning supplier, which we have built a strong partnership with, received a call from a new start restaurant looking to invest in an air conditioning system. The restaurant was interested in leasing the £40k system so the supplier explained our partnership and let the customer know that Faizal Joyub, their Account Manager at Tower, would be in contact soon.
What can be Leased?
Soon after Faizal contacted the restaurateur and explained how leasing works, the benefits and our role in the process. Faizal also informed the customer that the supplier required a 50% deposit for the system and explained how we could work this into the lease for the new start.
Whilst discussing these details the customer expressed the need of additional equipment, £50k worth of catering equipment and £10k worth of coffee machines -the restaurateur did not know that Tower can finance this equipment too. Faizal let the customer know that we could help them with these additional investments and sent 3 separate lease quotes for the equipment the new start needed.
The customer was happy with the quotes received and informed Faizal that he would like to go ahead and lease all of the equipment.
1 broker, 1 customer & 3 suppliers
It was over to us now to allocate an additional two suppliers and get the finance in place for the restaurateur. A member of our underwriting team, Lucy Smith, contacted the new start and explained the process of securing finance and informed the restaurateur of what information we needed from them. The underwriting team updated the customer every step of the way to ensure the business was 100% satisfied and reassured that all was going well with their investment.
Meanwhile, Faizal allocated catering and coffee machine suppliers which were suited to the customer’s needs and location.
Tailoring our service to suit individual needs
We understand that all businesses run slightly differently so we make it our mission to adapt our service to suit individual needs.
- As the customer was opening a new restaurant they requested that the equipment was delivered at specific times, the team liaised with the suppliers and made sure this happened for the restaurateur.
- The catering supplier did not feel comfortable releasing £50K worth of equipment and only being paid once the equipment was fully installed. As a result we organised staged payments, this suited the customer and eased the worries of the catering supplier.
Faizal and his team managed to tailor our service to satisfy all involved in the deal and kept all parties up-to-date throughout the entire process.
The end result
The restaurateur was accepted for the finance needed and the deal was fully processed. As a result the business was able to open its restaurant with top quality equipment, pay smaller rentals over time whilst keeping cash flow within the business.
The new start and all three suppliers were very happy with the service received and were impressed with the smoothness of the whole process.
