Fitness Options sells into retailers, as well as providing equipment and service contracts commercially for schools, hospitals, and power stations. It had been through several changes since it opened in 1990, merging with another company in 2002 before Ray bought it back in 2004.
At that point the company was importing stock direct from the Far East by the container load, and needed financing if it was to expand.
How Goodman Corporate Finance Helped
- Funding solutions take business from breakeven to profit
- Support with application secured funds within one week
- Funds now in place for marketing investment
Ray approached Goodman for advice and support, and with their help he secured a loan from Natwest, which was repaid over the next three years.
Looking to develop the company further, Ray put together a business plan for expansion within the commercial market, and this time Goodman suggested approaching Funding Circle.
Ray said: “We needed around £50k but would have been okay with £30k. Paul actually got us the £50k, and we just finished paying that off last month.
“We’ve now decided to focus on developing our sports nutrition side, and Goodman once again approached Funding Circle on our behalf. They turned the application around for us in a week, and we were approved for funding within four minutes.
“The financing we’ve accessed through Goodman has made a big difference, moving the company from breakeven to profit. We’re now able to invest more in marketing, something that we haven’t really done before.
“Goodman are brilliant – they keep us informed of everything and work well on our behalf. We had been approached previously by other companies but nothing came of them – Goodman however acted on what they said they would do, and were honest about the realistic options.
“We’ve been working together for around a decade now, and I would recommend them to others without hesitation.”