7 September 2020
The Gluten Free Bakery is an award winning artisan bakery specialising in gluten free sourdough bread. Founded in 2012, the bakery sells freshly made bread and baking kits to consumers, and also supplies restaurants and wholesalers.
Co-founders Rana and Alex had an exciting opportunity for growth — they were offered a big contract with one of the UK supermarkets’ biggest suppliers. Keen to capitalise on this opportunity, but in need of expensive equipment to get started, the business owners came to Funding Options to see what could be done.
Aside from being a relatively young business, one of the challenges facing them was that at first glance, their turnover didn’t support the amount of funding they needed to make the contract happen.
However, the supplier was keen to work with The Gluten Free Bakery specifically, and was willing to commit to a specific value of orders over the next 18-24 months. As a bonus, the directors had an exact list of the equipment they would need, good personal guarantees, and a signed contract with the supplier.
We found them a large equipment leasing package so they could take immediate delivery of the valuable machinery they’d need to produce the goods at scale for their new customer — without any up front cost.
The production line was up and running within weeks, meaning The Gluten Free Bakery could get started on a contract worth approximately 7 times the turnover. Since then, the bakery’s new customer has increased order volume, and Rana and Alex are expanding their premises and hiring more staff to grow the business further.
To learn more about which finance option may be best to help your business with its expansion plans, head here.
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