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A family-run seaside amusement business, with a long-standing tradition of providing fun and entertainment, aimed to enhance its offerings for the upcoming summer season. The business owners, a dedicated husband and wife team, envisioned introducing a new attraction – a family rollercoaster. However, they faced the challenge of financing this exciting new addition to their amusement park, which led to them approaching Millbrook Business Finance for help. Here we explore how Millbrook was able to provide amusement park asset financing to make this business’ goals a reality
Client background
The husband-and-wife duo had been operating their prominent seaside amusement business since the 1990s. Over the years, they have delighted countless families and tourists with a wide range of amusements and rides. As the summer months approached, they aspired to invest in a family rollercoaster, valued at £125,000, to provide an exhilarating experience to their customers.
The challenge
Paying the full £125,000 amount upfront and purchasing the rollercoaster once-off would be challenging for any family-run business to commit to. It’s not often that a business has this kind of capital on hand, readily available to spend, and even then, a purchase of this size would inevitably impact cash flow and margins. The couple required a financing solution that allowed the amusement park business to spread the cost of this high-value purchase, instead of needing to pay the full amount upfront, was needed.
The solution: Tailored amusement park asset financing
Recognising the need for financing this high-value asset, the business owners turned to Justin Amos, who has been their trusted business finance broker for many years. Asset finance is a specialised form of financing that allows businesses to acquire the assets they need while spreading the cost over time and therefore protecting cash flow.
Benefits of asset financing for amusement parks
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Preserve capital: Finance assets without depleting your capital reserves.
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Upgrade and expand: Easily access the latest equipment and technology to stay competitive.
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Predictable budgeting: Fixed payments simplify financial planning.
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Flexible terms: Tailor financing to match the lifespan and usage of your assets.
The results
Financing an amusement park rollercoaster can be a complex endeavour, but with the guidance of a seasoned business finance specialist, the business successfully secured the £125,000 funding required. Justin Amos, a dedicated finance expert, played a pivotal role in expediting the process, from preparing the application to navigating complex criteria.
In just one week, the finance was arranged, an incredibly swift turnaround for a hard-to-fund asset. The deal was structured over a three-year term, with three initial payments made upfront.
The impact
With the new family rollercoaster in place, the amusement park was able to unveil this thrilling attraction just in time for the summer season. The response from their customers was overwhelming, generating excitement and anticipation. This strategic investment significantly boosted the business' revenue, enhancing the overall summer experience for families and visitors.
Summary
This case study exemplifies how using a business finance specialist like Millbrook can accelerate business growth and surpass business goals.
The decision to utilise asset finance, coupled with expert guidance, led to the acquisition of the family rollercoaster quickly and with ease, enriching the summer entertainment offerings. The swift and efficient financing process, facilitated by Justin Amos, demonstrated the advantages of partnering with a dedicated business finance specialist. By leveraging the expertise of Millbrook Business Finance, this amusement business not only realised its vision but also enhanced its revenue potential, highlighting the instrumental role that business finance specialists play in achieving business goals.
Get in touch to discuss your business financing needs with one of our experts. Alternatively, apply for business finance with Millbrook now for a tailored financing solution that will accelerate your business growth.
