Case Study – Asset Finance
Staying competitive with asset finance
Sara Louise Kakes Ltd are a family run business established in 2003. They were initially a bakery business selling products primarily on the internet but have evolved to being an innovative sports nutrition bar manufacturer. With the current trends of the Sports Nutrition market evolving quickly, they needed to invest in new equipment to take advantage of the developing market.
Operating out of the North East, Valued is a long established and award winning Accountancy practice. The company was founded and is operated by Mr Stephen Paul.
They offer a range of services from bookkeeping, annual returns, payroll to company formation and outsourced Financial Directorships. All this as well as being Xero Software’s Accounting partner of the year for 2015.
Sara Louise Kakes Ltd wanted to take advantage of spreading the cost of finance over a period of time together with any tax advantages and came across Tower Leasing. They knew that financing the equipment was an option through Tower and this was preferable with such large capital outlays. Also, some Suppliers needed a 50 down payment on OD of the equipment. Tower were able to accommodate this – enabling the build process to start straight away.
They found applying for finance extremely easy and straight forward with the approval on finance also being extremely quick. Over the last 10 years, they have financed a number of assets via Tower Leasing including the following equipment, metal detection/ check weighing, card feeders, chocolate enrobing, ultrasonic and site camera systems.
Since securing asset finance, the business has been able to evolve over time reaching out to new markets and keeping them relevant in a competitive environment. Sara Louise Kakes Ltd have seen the business turnover grow from zero to over £5 m this year with a subsequent increase in staffing levels.
Andrew Staples, Managing Director at Sara Louise Kakes Ltd said, “A small business like ours has seen a very positive impact from leasing equipment and I would recommend looking at all options available. The biggest challenge of our business journey has been to move quickly enough in a rapidly evolving competitive marketplace. Working with Tower has enabled us to bring in equipment, scale up production and provide the innovation needed to give us an edge in the marketplace .”
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