Nicholas Munro Anderson purchased the Northern Rivers franchise of popular gutter-cleaning company ‘Gutter-Vac’ earlier this year, and has excitedly watched his business grow from strength to strength.
It’s the chore that many say they will do, but most never get around to: cleaning out the house gutters. This is good news for former engineering consultant Nick Munro-Anderson, who says that he was off and running from the start as the only Gutter-Vac franchise in his region.
Dreamed up by a former plumber who was sick and tired of cleaning gutters by hand, Gutter-Vac is a wonderfully simple idea. Gutter-Vac was founded in 1995, and extends to 80 franchises around Australia. True to its name, Gutter-Vac is a large, super strong vacuum that can be used to clean out gutters, downpipes, and ceiling cavities. In light of the recent spate of bushfires around Australia, this service has become particularly popular with those in semi-rural areas, like Nick’s home region of the Northern Rivers, Gold Coast.
Nick was a family man who was sick of being far from home in his role as a consultant engineer in the Northern Queensland coal mines. Ready to leave a flailing industry and be based full-time on the Gold Coast, purchasing the Gutter-Vac franchise was a great opportunity. However, the capital required upfront was a challenge to source.
For Nick, the traditional money-loaning institutions were full of promises…and nasty surprises.
“The banks sounded great at first,” says Nick.
“They were saying – ‘great interest rates! We can get you so much money! 15 year repayment plans!’ 15 years?! I was not ready for that massive commitment.”
On the recommendation of the franchise founder, Nick instead approached GoGetta, a specialist equipment funder, and found himself a much more realistic option: a 12 month agreement under the Rent.Grow.Own® solution.
A 12 month product, Rent.Grow.Own offers tax deductibility*, saves cash flow, and is easy to budget for. The GoGetta brand is a known business operating expense, and is off balance sheet funding – meaning it doesn’t impact your ability to borrow money from other lenders in the future. You really will grow using GoGetta.
At the end of term, Nick can return the equipment to GoGetta with no penalties or further obligation (though the purchaser may have responsibilities with the franchisor); or if purchased outright anytime in the first 12 months, will receive a 75% net rebate off the purchase price of the rent already paid – meaning that he will have been building equity in the asset as he went along in his first year of business.
Another option for Nick, is to switch to the go.Own.plus® longer term ownership model, where he can enjoy a 30% discount on his weekly rent and purchase the equipment for a nominal amount at the end.
“Everything just runs really smoothly,” says Nick, who, at five months in, feels fully confident in the flexibility of GoGetta to shift and move with his business needs. And for any new, small business, knowing that you are not locked into an unrealistic contract is a comforting concept.
Nick’s Gutter-Vac franchise is still in its early days, but thanks to GoGetta he is able to learn whilst he earns, avoiding ‘dead money’ in his rental period with the equipment. Soon, Nick will own the machine, a bustling business, and some pretty quick gutter-clearing skills, too! Learn how easy it is to secure business equipment funding through GoGetta or read GoGetta’s Guide to Business Equipment Financing to learn more.