Beauty spa opens with funding from NatWest and Lombard


Beauty spa opens with funding from NatWest and Lombard

A non-surgical beauty clinic has opened in the north of England with support from NatWest and Lombard - the bank’s asset finance arm.

Medispa S10 has been launched by Emma Idowu, Juliet Laws and Charmaine Hearn, who have extensive knowledge in beauty and healthcare. Idowu says: “Having all spent years in the industry we noticed a gap in the market in Sheffield for clinics which offer a wide range of non-invasive beauty procedures and access to experienced cosmetic surgeons under one roof.”

The directors transformed a former run-down derelict shop in Ranmoor, a suburb of Sheffield, to create a relaxing ‘medical spa’ which offers procedures such as Soprano laser hair removal, Accent RF 3D skin rejuvenation and Botox.

Idowu, Laws and Heam turned to Phillipa Bagshaw, Healthcare Specialist Business Manager in the NatWest South Yorkshire office and Ruth Burrows, Lombard Relationship Manager to secure a renovation loan and VAT loan, both backed by the Government’s Funding for Lending Scheme, as well as an asset finance facility.

The whole package

Idowu says: “We went to see a few banks but NatWest was able to offer the whole package - business guidance and competitive rates. Phillipa has been great and because she specialises in healthcare it means she really understands our industry and business.”

The funding provided the trio with the capital to renovate the property and invest in state-of-the-art equipment required for their services. Medispa S10 has already created two jobs and aims to employ another two members of staff over the next six months; the company forecasts a turnover of around £266,000 in its first year alone.

Bagshaw says: “Emma, Juliet and Charmaine have a great deal of experience in this market. Not only have they created employment opportunities in the area, but they have turned an old shop which was a bit of an eye sore into a beautiful, inviting business.”

Idowu has previously owned two salons where she has provided make up services for celebrities, and managed a cosmetic surgery clinic in the area. Laws and Heam have both worked with world-leading cosmetic surgeons in Harley Street, including 10 Years Younger surgeon Nick Percival, who is also a Medispa S10 associate.

The trio plan to build up a customer base and brand in the Sheffield area initially, but believe that longer term the company has the potential to open branches across Yorkshire.

Tagged

Latest news

RBS to help 2.5 million people each year to be more financially capable

RBS has today committed to helping 2.5 million people in the UK each year to improve their financial capability.

RBS to increase lending to sustainable energy sector following £1.1bn securitisation of loans to UK sustainable energy market

RBS has executed a £1.1bn securitisation deal with Macquarie Infrastructure Debt Investment Solutions (MIDIS), which will allow the bank to recycle capital and increase lending to the sustainable or renewable energy sectors.

RBS launches £1 billion Female Entrepreneurship Funding and announces targets to help create at least 50k new businesses by 2023

RBS has today announced a new £1 billion in funding through NatWest to support female entrepreneurs in the UK to scale and grow – the largest intervention by a UK lender focused specifically on female-led businesses.

Set Tab for lightbox