#28 Finance for Garages: What You Need to Know

This episode is sponsored by Castrol and The Race Group. To learn more about Castrol Service, please visit: https://www.castrol.com/en_gb/united-kingdom/home.htmlFinance can be one of the hardest things for independent garages to get right — and one of the least talked about.In this episode, we sit down with Lee Schofield, founder of One Funding, for an honest look at the real challenges and opportunities around funding a garage business.From asset finance to working capital, buying another business to managing risk, this conversation covers the key questions every garage owner should be thinking about. Whether you’re growing fast or just planning ahead, Lee shares practical advice based on years of experience in the industry.Timestamps:00:00 – Introduction02:24 – Guest background: About Lee and One Funding03:51 – What are the biggest financial challenges for independent garages?08:43 – Understanding asset finance23:02 – Ensuring you have sufficient working capital30:18 – Sponsored segment31:32 – Managing cash flow and exploring business loans48:47 – How can you finance the purchase of another business?53:29 – What should you look for in a finance provider?Subscribe for more expert insight, honest conversation, and real stories from inside the independent garage sector.⁠⁠⁠⁠⁠⁠https://beacons.ai/ontheramp#ontheramp #automotivebusiness #garagefinance #independentgarage #automotiveindustry