Need your floatation tank financed?

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Floatation Tank Finance

Do you need your floatation tank financed? Floatation Tanks are becoming a very popular health trend in the UK. However, some may say it’s a very expensive asset to introduce to your business. Here at WestWon, we are here to support your business and take any financial pressures off.

This blog will discuss how WestWon can help you invest and introduce floatation tanks into your business, alongside the potential profit you can make by offering this fantastic service to your customers. There are also figures below that show how much profit floatation tanks can generate.

How much will it cost to lease?

The tanks cost between £15,000 – £30,000, with the average sale at around £19,000, which is therefore a large upfront investment. However, with WestWon’s finance solution you can pay for the pods whilst it generates you profit. Please see the lease example below to see how a wellness centre used WestWon’s floatation tank finance.

Lease Example:

Floatation Tank price:  £19,000+VAT

Lease term: 5 years

Monthly Rental: £427+VAT

How much profit can floatation tanks generate? 

On average the going rate for a 60-minute float session is £40-£50 in the UK, therefore enabling up to 9 customers throughout the 12-hour day (allowing 15 minutes for other requirements).

There is a massive amount of profit to be made through this health trend. We have therefore produced a rough guide of the profit your business can make from 1 month through to 5 years, whilst utilising WestWon’s finance option.

Example:

This example is based on having just one floatation pod, at £40 a session with 4 customers per day (50% occupancy). However, if you were to start your own business there is a high chance that you could make a lot more profit.

Period of Time1 month1 year5 years
Revenue£4,800£57,600£288,000
Rental Cost (Monthly)£427£5124£25,620
 
Profit£4,373£52,476£262,380

Floatation Tank Finance Process

Interested in obtaining a floatation tank using a finance option? The process is simple yet efficient:

Supplier Quote

  • Choose the most suitable floatation tank and supplier. We can help! Our supplier relationships means we can help you get a great deal on the best tanks in the market.
  • Agree the price and any relevant training and maintenance contract with your chosen supplier.

Be provided with a free no obligation leasing quote

  • WestWon will then provide you with a leasing quote, based on the floatation pod you are looking to finance, alongside the supplier’s price.
  • In addition, a credit check is undertaken and then an arrangement for a lease facility is put in place.

Obtain a credit acceptance

  • This is therefore when the credit will hopefully be accepted (can be as quick as 24 hours and long as three to four days).

Agreement is sent 

  • The lease agreement is then sent to you and requested to be returned, signed.

Goods are delivered

  • Your supplier delivers the floatation tank, then they invoice us directly and we then arrange for the payments to be made.

The rentals begin

  • Finally, you make monthly or quarterly lease repayments directly to us or the funder we have used.

Contact Us

If you would like any more information on floatation tank financing or other assets we can provide finance for here at WestWon, then please don’t hesitate to get in touch with us. However, you can also give us a call on 01494 611 456 or alternatively email us on [email protected].

Sale and Leaseback- get an instant cash injection into your business!

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Sale and Leaseback

In this blog, we will be taking a look at how sale and leaseback could benefit your business.

Sale and leaseback, as known as equipment refinancing, is a great way to get an instant cash injection into your business. It is a fast and effective way to improve your cash flow, and enables the reimbursed cash to go towards other areas in your business.

We have previously organised hundreds of sale and leaseback agreements on a whole range of assets, so we have the experience necessary to support you. We are confident that this service is extremely beneficial for businesses of all sizes.

So, how does it work?

  1. Firstly, contact WestWon and let us know what you’ve purchased in the last 6 months, the purchase price and how long you’d like to spread the cost over.
  2. Once we have this information, we can then give you a free no obligation finance illustration.
  3. Then, once you are ready to proceed, just simply call the team and we can look to obtain a credit acceptance within 24 hours!
  4. We will then send you the agreement to sign, and return back to us.
  5. Once this is finalised, and a copy of the invoice of payment is provided, we’ll process the paperwork and the full capital amount is refunded into your bank account.
  6. Your payments begin as they would for a regular lease agreement.

Key points to consider:

  • The asset needs to have been purchased within the last 6 months.
  • Multiple invoices and a range of assets can be included in the same lease.
  • Original invoice and company bank statement showing the transfer, maybe required.
  • Funds are released directly into your company’s bank account.

The advantages

Let’s take a look at the perks of a sale and leaseback on equipment:

  • A quick and simple way to raise finance

The process is simple, we look to have the approval in place for you within 24 hours.

  • Sensible interest rates

With a sale and leaseback of equipment, the security is within the asset. This is less risk, hence the interest rates are normally lower.

  • Does not use up existing lines of credit

No need for you to speak to your Bank. A sale and leaseback does not affect any invoice discounting / factoring arrangements you already have in place.

  • It’s a lease, not a bank funding line

Some companies have banking rules where they cannot take out other third-party loans. We will lease the equipment back to you, this means it doesn’t fall under any restrictions you might have.

  • You still have full use of the asset

You will still have full use of the equipment with no restrictions.

  • VAT and Tax Benefits 

We pay your invoice in full, including the VAT. Not only this, but all the monthly payments are tax deductible!

Interested?

On our equipment refinancing page, you can get access to our equipment refinancing calculator, FAQs, case studies and more!

Alternatively, simply give us a call on 01494 611 456. Our team would welcome a discussion to provide quotations, advice and additional information on our range of services. Or, send an email to [email protected] outlining your query and a member of our team will get back to you in no time.

WestWon Woodland update!

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As you may know by now, WestWon’s green scheme of planting trees has been running smoothly for the past 4 months! We are so very proud of how far we have come with this initiative. This includes the impact we have made. Below is an update of the WestWon Woodland initiative (in case you missed it) as well as those all important numbers.

A quick recap

At the end of 2021, we teamed up with Ecologi, a UK based social enterprise. They are a company that helps plant trees in the UK and abroad. It works by us sending them the amount of trees we wish to plant. We then hand over payment them and they essentially do the work for us! Ecologi are an amazing company in the way that they work. They allow us as well as our customers to see the species of tree that has been planted, its age and the project it was funded for (e.g. the place they were planted).

So, how does WestWon contribute, and why should we have you to thank? Well, when you complete a lease agreement with us we will plant a tree for every month of the lease term in the WestWon Woodland. This part of the scheme started at the beginning of the year. We are also sending out certificates to those who have taken part, as well as an extra chance to plant 10 more trees in the woodland if it’s reposted. All these chances are just extra ways that you can help us in staying as a climate positive company. As well as aiding the environment in its battle against climate change.

WestWon Woodland update

Our goals:

  • To plant 100,000 trees in the WestWon Woodland within the next 5 years
  • To reduce 7,500 tonnes from the atmosphere within the next 5 years

Our current numbers:

  • So far, we have planted 5,427 trees in the WestWon Woodland
  • Currently, we have reduced 70.64 tonnes of carbon from the atmosphere

Contact Us

If you would like any more information on our green scheme, or any finance options, then please don’t hesitate to get in touch with us. Either give us a call on 01494 611 456 or alternatively email us on [email protected].

Corporation Tax Finance

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Corporation Tax Finance

Running a business comes with a lot of responsibility and one being to pay your tax bill. However, the timing of this bill landing on your desk can be inconvenient. If you are in a position where you are unable to pay for your bill, Corporation Tax funding is the solution for your business. Spread the cost of your bill in 6- or 12-month repayments.

What is Corporation Tax?

Corporation Tax is the amount of income earned through trading – from asset sales and other taxable events throughout the tax year. You will receive a tax bill if your business is:

  • A limited company
  • A member’s only club
  • A trade association
  • Housing association
  • Or a group of individuals operating as a business outside a partnership.

Currently the rate for UK Corporation Tax is 19%, which also applies to any overseas companies who are based in the UK. HM Revenue and Customs calculate your bill, which is usually due 9 months after the businesses accounting year finishes. It will stay at this rate until at least the end of the financial year. This ends in April this year.

It is important to pay your corporation tax as there are some hefty penalties. Some so drastic that if your bill is extremely high your business could be forced to liquidate!

With cash flow constantly increasing and decreasing, it is always best to put a lump sum aside to meet the tax bill requirements. However, there are unexpected costs that incur, so it can be difficult to set some much cash aside.

Corporation Tax finance is a stress-free funding solution, where you apply for a loan that will cover the cost of the bill.

What are the benefits?

  • Cash flow – Control cash flow with manageable monthly payments.
  • Fast Payment – Payment can be made directly to HMRC who will then receive the money on time.
  • Alternative funding lines – No need to use up an existing bank facility.
  • Fixed monthly payments – Easy fixed repayment schedule with fantastic rates.
  • Approval within 24 hours – WestWon prides itself on fast and quality customer service.

Contact Us

If you would like any more information on corporation tax finance or other business loans we can provide finance for here at WestWon, then please don’t hesitate to get in touch with us. Either give us a call on 01494 611 456 or alternatively email us on [email protected].

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01494 611 456

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