Steve and Cheryl Cosgrove are a model for many in the leisure industry. As entrepreneurs, they have an established Soft Play Centre that Johnson Reed helped to set up over 6 years ago. Back then, they saw a gap in the market for a new Trampoline Centre – which was a new concept in the UK with only a hand full of locations at the time.
Now, 6 years later, they are looking to expand into a prime spot in the centre of Widnes with the new trampoline club called Velocity Leisure. We’re delighted to say they came back to Johnson Reed for their finance needs!
We funded the complete Trampoline equipment for their new premises once the Cosgroves realised how helpful and diverse we were. After the initial leisure kit was agreed, they then requested additional support for IT system, reception counter, catering equipment, music and sound system.
This was a new direction for the husband and wife team, one that required Johnson Reed’s in-depth experience to explain the process and the concept to the underwriters so that the transaction could be as smooth and quick as possible.
Their recent opening has even garnered a lot of media attention, with a recent interview with northwestfyi, as well as the local Liverpool Echo.
Since launching our classes, they have been extremely popular and we’ve since added more sessions throughout the week to respond to the demand. It’s no surprise though, as countless facts show that trampolining is easy on the joints, improves balance and effectively gets the heart rate up, making for a minimal-impact, anti-gravity cardio workout. It takes up to 80% of the stress off weight bearing joints, which make it a perfect activity for anybody looking for a low intensity and effective workout
Steve Cosgrove
Steve and Cheryl commented that Johnson Reed Equipment Leasing as being invaluable cash flow assistance in the early stages of their business, especially as they are planning to open Velocity 2 at Aintree Shopping Park; and this will be far bigger than the one they have opened in Widnes! Steve and Cheryl have said that Johnson Reed made this venture simple to arrange so that they could utilize their own funds for other purposes.
We have a panel of independent lenders, and Steve and Cheryl said they were delighted with the speedy service, especially as the banks do not understand the concept of this relatively new business sector. The new venture in Aintree should create over 100 jobs in the local area with a total of £2 million investment into the project.
Take a look at the gallery below of photos from the new Velocity Trampoline Club!
