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Key Details
The business
Trading for: 14 years
Sector: Sports & Recreation
Location: Suffolk
Reason for funding
Management buyout & expansion
Solution
- Secured business loan
- Fixed repayments
- £105,000 over 24 months
Results
- Management buyout
- Improved infrastructure
Founded in 1999, Premier Education Group delivers sport, performing arts and other wellbeing activities to schools, children and parents across the UK. The company was born out of a desire to encourage physical activity among people of all ages, while giving children an opportunity to engage with sport, drama and music in a positive and fulfilling way.
Premier has grown steadily over the past 16 years, establishing a strong and successful franchise system that has allowed numerous people to build their own businesses with the support and guidance of the Premier brand.
One of its franchisees, Danny Bloomfield, now owns five Premier franchises across Suffolk, Essex and Kent, having previously plied his trade as a professional footballer. Now employing over 70 staff, Danny has inspired thousands of children with Premier’s range of curricular and extra-curricular classes, while still finding time to take his own kids to school and, of course, attend sports days.
Investing in growth
Early in 2017, Danny approached his bank with a view to raising the necessary funds to buy out his business partner and invest in a new franchise. However, despite having a long-term relationship with the bank, Danny was left frustrated by the amount of additional information he was asked to provide to support his funding application. While he knew he could afford the loan repayments, he wasn’t willing to spend months on an onerous application process that would delay his growth plans.
Danny Bloomfield owns five Premier Education Group franchises across Essex, Kent and Suffolk, employing over 70 staff
Fast funding from Fleximize
Danny first met Fleximize at the Anglia Business Exhibition, a B2B exhibition for companies based in and around East Anglia. After explaining his funding requirements to a member of the team, and learning a little more about Fleximize’s offering, Danny applied for a flexible business loan that would help him finance the management buyout without hindering the growth of the business.
Understanding Danny’s need for funding, Fleximize moved quickly to create a finance package that suited the requirements of his business. Within two days of applying, he had an offer on the table for £105,000 spread across a term of 24 months. As well as allowing him to buy out his business partner, the funding has also enabled Danny to improve infrastructure across his Premier franchises, while providing him with the freedom and security he needs to concentrate on growing his business.
They wanted to lend, and that was a big difference. There was a motivation and enthusiasm from Fleximize to build a relationship now and for the long term.
Do you run a business like this?
Fleximize provides flexible funding solutions to companies in almost any industry and has funded a number of other franchises, including several fast-food outlets. To find out how we can help your business, feel free to give us a call on 020 7100 0110, or apply now by clicking the button below.
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