Trampoline parks offer a fun way for people of all ages to stay fit while having fun. The activity was first included in the Olympics in 2000. Since then, the industry has exploded in popularity. In the US alone, there are over 400 trampoline parks while another 100 parks are open in various countries such as the UK, Australia and New Zealand.
There are many factors which can affect the capital need to build a trampoline park. These include the dimensions of the building, what activities are included, what equipment are needed and the design of the zones, among others. In the UK, fitting out the park can cost a minimum of £175 per square metre, but there are other fees to consider as well. Building a trampoline park can cost hundreds of thousands of pounds. For most entrepreneurs, it is a staggering cost.
Applying for trampoline park finance can help. Here are a few reasons why you should consider financing.
Financing companies understand your needs
Building a trampoline park is not your typical type of business and, as such, it is difficult to get approval for a loan. Imagine going to a bank and asking for a loan to build trampolines. Most banks and traditional lenders have a limited understanding of this industry. With a company that specialises in financing trampoline parks, project managers can help you with your application and let you know what documents you need to get financing.
Approval times are quicker
Applying for a bank can take several weeks before you can get a response. Applications are typically transferred between several different departments, which can prolong the process. With a financing company, you don’t have to wait weeks or months for a decision. In just a few short hours, you know if you have the funding you need for your trampoline park.
Flexible financing terms
Financing companies can offer several options for financing your trampoline business. Some firms offer the option of leasing, owning the equipment for your business, or a combination of both. You may also want to consider getting your equipment upgraded sometime in the future. Some firms may offer additional financial options when you want to buy new equipment or have them upgraded.
Portman Asset Finance is a company that specialises in financing trampoline parks. We offer fast and affordable funding options for business owners. Call us at 06104 761276 and speak with our account managers to learn more about how we can help you with your trampoline business.