Fit Outdoor Finance to Exhibit at Shows

As the UK Staycation season starts to wind down, Fit Outdoor Finance is looking forward to supporting the hospitality and events sector into 2022 and beyond. To demonstrate our commitment to hospitality, leisure, and events we will be attending several shows and exhibitions. Some of these will be to exhibit at shows, others simply as visitors.

The Glamping Show

As its name suggests, The Glamping Show highlights the latest innovations and quality manufacture and design in the booming glamping industry.

We look forward to a one-day guest attendance where we can familiarise ourselves with the huge range of equipment. This will be eligible for funding by lease or hire purchase. Moreover, we will be catching up with connections old and new in the glamping sector.

The Glamping Show is held at Stoneleigh, near Warwick from 16th – 18th September. If you plan to be there on the 16th, come and say hello as it would be good to meet you!

The Commercial Kitchen Show

Whilst not exclusively outdoors, The Commercial Kitchen Show straddles our enthusiasm for financing equipment for all facets of hospitality, both outdoor and indoor.

We have already arranged casual meet-ups with existing supplier contacts. However, we would gladly welcome the opportunity to meet suppliers and consultants to the hospitality sector to explore areas of potential mutual interest.

The Commercial Kitchen Show is held at London’s ExCel on 23rd & 24th September.

Independent Hotel Show

As exhibitors at previous shows, we will be attending this year’s Independent Hotel Show as visitors, rather than to exhibit.

We are particularly interested in innovations within the hotel sector to optimise their outdoor spaces. This is something we are already discussing with several of our existing hotel clients; many of whom are surprised about the range of outdoor equipment we are able to finance.

The Independent Hotel Show takes place at London Olympia on 4th & 5th October.

The Showman’s Show

We are particularly excited to be exhibiting at The Showman’s Show, and to welcoming new and existing contacts to our stand where we will be placed at stand 5, in the exhibition hall.  It’s under cover, so you can shelter from the rain!

The events industry has had a tough time. Therefore we look forward to helping them with a range of funding options. This is to help them as they recover and prepare for the seasons ahead.

The Showman’s Show is to be held at Newbury Showground on 20th – 21st October. I will be on the stand on both days.

Farm Business Innovation Show

The Farm Business Innovation and partner shows are well established as the show for outdoor hospitality & leisure.

Whilst our stand (number 3018) is in the farm section, we look forward to mingling and explaining the breadth of funding available to the partner shows. These include Holiday Park & Resort, Family Attractions, Country House & Leisure F & B.

We look forward to learning about the plans and innovations they have for the coming season. In addition, we will be there to explain the funding options we can offer to these outdoor hospitality sectors.

Farm Business Innovation will be held at the NEC in Birmingham on 10th & 11th November, and I will be around our stand on both days.

Contact Us

It will be great to see you if you are attending any shows or exhibit. Alternatively, please feel free to get in touch by calling 01494 611 456 and we can meet another time. Additionally, there is information on all the exhibitions mentioned above on our website.

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Funding for temporary film studios

UK film industry

The UK film industry is currently extremely vibrant and lively. We are pleased to be providing finance facilities for short-term ‘pop-up’ studio space in temporary structures.

Knock on effects of the pandemic

In this specific case, the supplier and client are well-known to us. This is due to them having been active in the outdoor events sector. However, as 2020 rapidly turned into a non-event sector due to the pandemic, the client diverted their attention to their side-project, providing additional space for the film industry.

The UK has long been recognised as world-leaders in this sector. Social distancing, coupled with a race for quality content led by Netflix, Amazon Prime and others means that space is at a premium. A demand that our client is very happy to meet.

How lenders are reacting to the UK film industry

Over the past 18 months our client has acquired several leasehold sites in west London. On each site they have placed several temporary structures, comprising of steel frames, modular flooring, insulated PIR side panels and insulated roofs – all of which we have been able to finance on 3 or 5-year lease arrangements (hire purchase is also an option).

However, the ‘process led’ lenders were unwilling to help, viewing this as ‘high risk’ and part of the ‘events sector’. Through established relationships with several lenders who looked further into a deal, we were able to demonstrate that this proposition was of excellent quality. Additionally, we were able to show that the customer has 100% payment record. As well as that temporary structures – and components thereof – represent solid, durable assets. These are eminently suitable for leasing or hire purchase. Overall, we were able to prove that the sector in which they operate will remain bright for many years to come.

As the events sector recovers, our lenders are starting to look at finance proposals for all types of outdoor equipment. This includes furniture, catering, sound/AV plus, of course, temporary structures and marquees. They are equally happy to finance this equipment for other sectors, including the film industry!

Contact Us

More information on the UK film industry and the different assets we can finance, as well as the events sector can be found on our website. Alternatively, if you would like to get in touch with us, please call 01494 422 614.

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How Fit Outdoor Finance supports the outdoor hospitality sector

Fit Outdoor Finance

With a current and sustained boom in outdoor leisure & hospitality, Fit Out Finance is happy to introduce their sister brand, Fit Outdoor Finance, a business dedicated to providing bespoke funding packages for new and existing outdoor operators.

Background of Fit Outdoor Finance

Like Fit Out Finance, we aim to support existing and start up hospitality businesses with funding for key business assets; in the outdoor environment these might include canopies, temporary structures, outdoor furniture, outdoor catering, heating, pathways & flooring, and many others. As with Fit Out Finance, our approach will be personalised and bespoke to you and your business. Whether you are a start-up, enhancing your existing site or adding new sites to your portfolio. This means that unlike many other funders or brokers, there is no set list of assets we finance. Instead, we look at the value of each specific asset to your business.

Fit Outdoor Finance is seeing a huge rise in interest from glamping operators. This is in addition to our core client base of restaurants, hotels, bars and entertainment venues. While some are extending their existing facilities to include this ever-increasing sector of glamping, others are re-purposing land to create new glamping facilities to aid this vision. Naturally, glamping operators will want finance for core assets such as glamping pods, shepherds’ huts, yurts etc. Additionally they are looking to enhance their facilities with outdoor catering facilities, furniture, waste facilities, lighting and even stages. These are all assets which we are happy to finance.

Our brand reputation

Many clients come to us directly due to our outstanding reputation in the hospitality and leisure sectors. However, we also work closely with several advisors, consultants and suppliers who operate in the outdoor leisure sector. If you have or know of any customers related to this sector we would love to chat with you. Equally those who are looking for personal and dedicated advice on funding options.

Where to find us

To demonstrate our commitment to the outdoor leisure & hospitality sector, we will be exhibiting at the Showman’s Show and the Farm Business Innovation Show later this year. More information on these exhibitions and any additional information on the outdoor hospitality sector can be found on the Fit Outdoor Finance website. Alternatively, if you would like to get in touch with us, please call 01494 422 614.

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Secured loans to fund Fit-Outs

Secured loans to fund fit-outs

In a hard lending environment, prospective borrowers are increasingly being asked for security to support funding applications. These can be for fit-out projects, particularly in sectors that might be susceptible to future lockdowns, such as hotels, restaurants and leisure businesses. This is why secured loans to fund fit-outs are so important.

In lending terms ‘secured’ typically refers to charges over bricks and mortar premises, not, as some assume, to guarantors.

Fit Out Finance

In response to this, Fit Out Finance has connections with several reputable secured loan providers who can offer facilities supported by first, second or third charges against freehold or long-leasehold premises, whether those premises are commercial or residential. This will allow you to use secured loans to fund fit-outs easily.

With the added security of charges over property, lenders will be more relaxed over other transaction terms. Therefore they will be able to offer much more flexibility against conventional equipment leasing facilities. With security, we can offer facilities over periods up to 10 years rather than the usual 5-year maximum. In a recent case, our client benefitted from a 6-month payment holiday at the start of the agreement. They can earn money before they start to make monthly payments.

Improving relationships

Additionally pre-payments and staged payments than on a normal leasing transaction. These are things that can improve your relationship and terms with your chosen fit-out contractor or selected trades.

To suit your tax and accounting requirements, the transactions is documented as a loan or a lease agreement. Restricted by the nature of the equipment or the number of suppliers, this affects such transactions. 

Properties acceptable as security include the main residence, rental properties (either individual or portfolios) or commercial properties. In some cases, we are also able to consider non-bricks and mortar assets as security. This includes classic vehicles, boats or share portfolios. The key criterion is that it can be professionally valued, and it is possible to put a charge on it.

Commercial vs Residential

On another note, you need to give thought to putting residential property up as security when that property is the family home. For our part, Fit Out Finance takes this seriously. So much so that we will suggest that you take professional advice from a recognised legal practitioner before committing to a transaction. We will never rush or push you into signing. We respect the need for careful consideration before entering into a secured finance transaction.

For businesses that own their premises, it makes sense for the charge to be over those commercial premises. Alternatively, charges can be over multiple investment properties in a portfolio. Thus leaving the all-important family home out of the equation.

Contact Us

The majority of our business is likely to remain as conventional unsecured lease, loan or hire purchase. Alternatively, the availability of good, professional secured loan facilities. This means that fit out finance can be available in circumstances where normal agreements won’t work. For more information, call 01494 422 614 or email [email protected].

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Coronavirus Business Interruption Loan Scheme – What Finance is Available?

Coronavirus Business Interruption Loan Scheme Our Government has pre-announced a ‘Coronavirus Business Interruption Loan Scheme’ scheme specifically to help businesses affected by Covid19. Full details have yet to be released – launch probably won’t be until April; however it is pretty certain to be operated under the banner of the current EFG, with the same […]

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Fit Out Finance teams up with Transmit to offer funding for new start up business

Fit Out Finance Teams up with Transmit to offer funding for new start up business Fit Out Finance is pleased to announce that we have entered into an affiliate agreement with Transmit Start-Ups. Consequently, this enables us to offer start-up loans under the official British Business Bank Start Up Loan scheme.

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Semi-Permanent Structure Funding

Semi-Permanent Structure Funding Fit Out Finance has a strong record on providing temporary and semi-permanent structure funding, whether for own-use or for hire and long-term rental purposes.

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Building customer reviews into your hotel promotion

Building customer reviews into your hotel promotion

Building up your customer reviews is key to the promotion of your hotel. The results of investing in a great customer experience can be seen in your customer reviews. If you have a great all-round proposition, you are more likely to feel confident in asking for reviews.

Sites like TripAdvisor, TrustPilot together with listings sites like Trivago, Booking.com, LateRooms, Expedia and more all provide opportunities to leave feedback. You should also factor Facebook and Google reviews into your planning as places where good experiences can be recorded.

There are lots of good reasons to proactively seek reviews and to ask for them as early as possible. Therefore, if a positive experience is front of mind you want to capture that before the detail is forgotten. The more specific any feedback is, you can either use it in active promotion or use it to quickly address areas of concern.

There are lots of ways to encourage all visitors to leave positive feedback this includes:

  • Offering cards at check in and check out.
  • Adding links to receipts in the bar, restaurant and spa.
  • Putting stickers in windows and in rooms.
  • Sharing feedback and reviews around your venue to show customers you value feedback.

Online reviews are a critical component of the marketing mix for a hotel and hospitality businesses. Many people evaluate the selection online and take into consideration reviews before spending money on hotel stays, meals out, business functions or spa days.

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Why investing in your reception and front of house is a good thing for your hotel business

Any Google, TripAdvisor or Trivago search will present your hotel business together with related images. Many of these often feature the building itself.

Your venue must be clean and tidy, freshly painted and with the appropriate level of signage so visitors can find their way in and around. An old TV property show termed the phrase ‘kerb appeal’ and it is important as it can impact first impressions.

But, often the thing that carries the most weight is the quality of the reception carpet. Carpet is an expensive commodity and one which depreciates but one that can carry the brand and make an immediate and appealing visual impact.

Attention should be given to all the aspects covered in other sections

  • Signage
  • Digital screens (AV considerations)
  • The design of the reception desk and area
  • Art / wall hangings
  • Furniture
  • Internal lighting
  • Exterior lighting
  • External sculptures
  • Flowers

It is unlikely that you will find a bank to support funding for ‘soft assets’ such as front of house carpets, as they hold no residual value. However, a specialist fit-out finance provider will fund based on their inherent value to the business.

These secondary elements are important to creating the ambiance that leads to visitors having a better experience, such that they leave positive reviews, so you can build your business and its profitability.

A thriving hospitality business with sustained good reviews is more likely to receive awards and accolades – which in turn will lead to more customers. A virtuous circle which creates opportunities to re-invest and developing your offering and facilities further.

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Why investing in your hotel bedrooms is a good thing for your hotel business

In our hotel investment guide “Invest for Profit” we only focus on hotel bedrooms towards the end of the guide.

That’s because the number of hotel bedrooms and number of nights you have to offer are finite. There are, however, infinite ways to maximise the use of other areas of your hotel with revenue generating business.

That said, guest rooms are where most time is spent. investment in bedrooms can start relatively simply in terms of fixtures and fittings through to bespoke room design for specific clientele.

Investment in your bedroom portfolio is important and relative if you think about who you want to attract. Examples of the sorts of things you might want to consider for the different audiences and room types might include

  • Classic double rooms, with options for single occupancy.
  • Family rooms – which might be slightly larger, contain store-away beds, additional screens, decent audio-visual and be located away from the noisy function suites and bars.
  • Rooms for business travellers – minimal in design, potentially less space and including desks, additional sockets including USB friendly charging, appropriate lighting and the latest audio-visual technology.
  • Rooms for elderly / disabled guests – using the family room concept and situating them on the ground floor or near lifts for easy access, wider doors, walk-in showers, alarm cords and lower level height sockets and switches.
  • The wedding suite/bridal suite – a sumptuous room with soft furnishings, appropriate level of décor, high level of comfort, appropriate lighting, great views and technology.

It’s undeniable though that investing in hotel bedrooms – the place where anyone staying at your hotel is likely to spend the much of their time – is a smart move.

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