Background – From a love of motorcycles to a business opportunity
Mark Blackley is a long-time motorcycle enthusiast so when he told his wife Emily that he was popping out to look at a bike, she wasn’t surprised…but she was amazed when he returned saying that he wanted to buy the business!
Once the initial shock had worn off, the couple discussed the idea at length and thought “let’s go for it!”
Challenges – Finding a lender for an established business
Armed with strong CVs (Mark ‘s background in the motor trade in particular) and a robust business plan, prepared in consultation with a recommended accountant, the Blackleys looked to the lending market but couldn’t find a bank to whom they could even put their proposal. “Bizarrely,” said Emily, “there was more enthusiasm for start-ups than for the purchase of an existing, profitable business”
Paul Collins of Miller Commercial, agent for the business, kindly recommended Conrad Robins at ASC Finance for Business and he arranged an early Zoom meeting to hear their plans
Solution – Expert guidance and the right financial partner
Conrad was impressed by the couple’s knowledge and enthusiasm for the project and their comprehensive business plan and armed with his extensive market knowledge, he swiftly identified a suitable lending partner- ironically a high street bank- who were delighted to offer competitive terms for a loan.
“Conrad was incredibly helpful and working with him just seemed right”, says Emily. “He was knowledgeable and straight-talking and always there to answer our questions”.
Outcome – A smooth takeover and thriving new venture
With the ASC team coordinating the various professionals involved, the purchase of the business proceeded smoothly, as indeed did the take-over of Cornwall Kawasaki by the Blackleys. Mark is in charge of sales, parts and the workshop and Emily looking after the accounts, payroll and the back- office organisation.
As first-time business owners, Mark and Emily are delighted with the seamless transition since taking over and the business is trading very well, in line with the business plan or even exceeding projections.
Conrad commented “Emily and Mark were great Clients to work with. I’m delighted to see them as business owner-operators in their own right!”
Dare I say that this is yet another example of how ASC continue to be Leaders of the Pack.
(To find out more, contact sales@cornwallkawasaki.co.uk just don’t offer to buy the business!)
