Granite Transformations beds in after new funding deal
A NEW home improvement business is being set up in Stoke-on-Trent after its founders secured start-up funding.
Tim Davies and partner Tracy Raftery decided to embark on their own franchise after researching the various opportunities available. They settled on Granite Transformations, which offers franchisees the chance to establish a business in the home improvement industry.
The business, which is set to create five new jobs, supplies materials for kitchen and bathroom refurbishments such as replacement work surfaces and doors plus extras such as glass mosaics.
The couple approached RBS for funding to help get the fledgling business up and running and the bank responded with a £60,000 loan, made available through the Government’s Funding for Lending Scheme.
The funding is being used on start-up costs, employing fabricators and a part-time sales staff, and initial marketing costs.
The couple have forecast turnover costs of £300,000 in their first year with a view to rapidly increasing this long-term. Davies intends splitting his time between a Stoke manufacturing unit and marketing his products at a local garden centre in Bridgemere, where he hopes to benefit from the heavy footfall.
He said: “This is a significant step for myself and Tracy and takes us completely out of our comfort zone. We have been looking to run our own franchise for some time now and we both feel Granite Transformations meets all of our criteria as they offer a great product to market. We have already made great progress with more exciting opportunities on the horizon.
“The Funding for Lending scheme works well for our business and what we are looking to achieve so we are very grateful (the bank) recommended this as a viable financial solution.”
Zoe Bament, relationship manager at RBS, said: “I have really enjoyed working with Tim and Tracy and getting to know them individually. I agree with their initial strategy to keep Tracy employed and act as a Director as Tim builds up the business and their customer base. With any successful franchise you need to do your homework and research, which they both carried out very competently.
“They are already showing signs of promise by securing credible marketing presence at a local garden centre, leasing their first premises and creating local jobs with more opportunities to follow in the short-term.”
