Entrepreneur Andrew Mckechnie has brought a Dutch-style ‘chippy’ to Liverpool’s waterfront this summer after securing £35,000 of investment through Wirral based business finance provider Bathgate Leasing.
Mckechnie used the cash to launch the first outlet of his gourmet chip shop, Chip’d, on Northgate Street in Chester, and the success of the venture has led to a year-long residency at the Dockside Dining Club at Liverpool’s Pier Head.
Through hard asset finance secured by Bathgate, Mckechnie purchase a specialist Dutch-made frying range. Unlike standard equipment available in the UK, the open range features four round pan chip fryers, which are essential to the cooking process.
Gordon Andrews, business cash flow specialist at Bathgate, said: “We love supporting exciting new start-ups and providing advice that will help their ideas thrive and develop. Since we arranged the asset finance, Chip’d has gone from strength to strength and we’re looking forward to seeing it continue to grow.
“After sampling the Chip’d product range I can confirm that they are exceptional chips and dips and I have no doubt that the business will flourish wherever it opens.”
On spotting a gap in the market, Mckechnie brought the concept to the UK, first taking Chip’d to events such as Festival No 6 in Portmeirion and the Liverpool Food and Drink Festival, before deciding to open permanent restaurants.
Mckechnie said: “Before finding Bathgate, I tried several asset finance companies. Many of them offered unviable repayment terms or made the whole process over-complicated.”
“The process with Bathgate was completely different. They even liaised with the fryer manufacturer on our behalf to make sure everything ran smoothly with the finance. Bathgate has been instrumental in getting Chip’d off the ground.
“The deal has not only provided the equipment we need to deliver the concept, it has freed up other funds for short term cash flow. I couldn’t recommend them more highly to other start-ups or even established businesses.”
Earlier this year Leasing Life ran a feature on catering finance, and how lessors can find consistency in a turbulent sector.