The solution was made available through Liberis Finance, a funding provider for small businesses.
Liberis’ Business Cash Advance provides funding from between £2,500 and £300,000 and payments are linked directly to the business’ cash flow – they happen as a small pre-agreed percentage of customer card takings. Briscoe has used Liberis’ Business Cash Advance to fund investments in products, stock and staff training that help the business to provide an all-round package.
Wayne Briscoe, business owner, opened the Doncaster-based store in 2012 after spotting a gap in the market and when a well-located retail outlet became available. Briscoe used his background in construction for the shopfitting and tapped into his wife’s expertise as a dog groomer and veterinary nurse to help get their first customers through the door.
He said: “We’ve expanded our range to include certain products that help set us apart from our competitors. We also have the training to explain why these products are beneficial – and why, in the example of a super-premium dog food we’re importing from Norway, it is worth paying more money.
“While dog grooming is our bread and butter, the pet supplies area of the business is a key area of growth and the ability to capitalise on it has been very beneficial.”
Briscoe has also invested in a jacuzzi spa hydro bath and electric grooming table, which he said not only attracts custom, but also improves productivity. He is hoping to continue growing Diva Pets with further investments in ultrasound scanning, micro-chipping, breeding, and artificial insemination.
He added: “Banks make you jump through numerous hoops and don’t seem to favour those that don’t carry debt. With the new ‘myLiberis’ dashboard, applying for funds takes no more than 20 minutes and, most importantly, payments work with our business’ cash flow rather than a large lump sum at the end of the month.
“It’s simple, quick and highly effective for our business.”