Few technologies are more in demand than laser hair treatment. SS Skincare’s clinics were doing well, yet needed a larger arsenal to keep up with the increase in demand in the North West. Enter Johnson Reed, as a smarter form of finance…
SS Skincare, a skin treatment centre, has been running in Manchester since 2016. In 2018, its owner realised something was changing in the industry – laser application was on the rise.
This is a painless, fast-acting tool to counter hair loss in men and women. SS Skincare was receiving more requests than it could handle. The centre already had one laser, but that wasn’t enough. As laser treatments had filtered into the mainstream, too, competition had heated up. Lost clients meant less revenue; staff at the centre knew they had to invest in new equipment.
A second machine would carry a cost of £50,000. SS Skincare didn’t have the cash to spare to buy it outright. But that’s when the owner recalled Johnson Reed: the two of us had contact over a prior financing opportunity.
Sim took the call. He drilled into the company’s revenue and business plan, discussing their leasing options. Afterwards, we spoke to a few lenders, and came back to SS Skincare with a list of proposed deposits and interest rates.
After just a few weeks, SS Skincare welcomed a brand new, fully functioning laser machine into their Manchester HQ. Eight months later, we did the same for the brand’s Liverpool centre – we could move even more swiftly to a lease approval in this case, having a grasp on the business already. Profits have since jumped, and further expansion is on the cards. We’re pleased to have this group on board as we look ahead to what the future holds for this thriving business.
The guys listened to me very closely, found lenders who could align with my requirements, and generally gave me a great experience. Speed matters, as the competition is so high. Yet Johnson Reed pulled through. As we move from lease to lease, I hope we’ll continue working together as my presence in the North West keeps extending.
Owner, SS Skincare