A new wholesale and retail bakery business has been launched in Lancaster and it already has its sights set on reaching £1m in turnover after securing £250,000 worth of funding from asset finance specialist Academy Leasing.
Goodness Baked, which has been set up by baker Ian Stansfield and his wife Siona Mckimmie, will manufacture a wide range of artisan-style breads, pastries, cakes and snacks to be sold by major retailers and hospitality businesses.
Its tie-up with the leasing specialist means it has been able to source the latest foodservice equipment for its operation, rather than purchase from the second-hand market.
Besides the wholesale arm of the business, Goodness Baked will also provide bread for sandwich shops in the region, deliver hot and cold lunches to local workplaces, and have its own high-street retail shop in Garstang.
The duo have partially self-funded the venture, with additional support coming from Academy Leasing, which has funded a suite of equipment for the factory to the value of £250,000.
New kit from Ali Group subsidiary Mono Equipment has been installed at the 6,500 sq ft premises, including ovens, mixers, rollers, a pastry braider, a proving cabinet and a walk-in freezer.
The ambitious pair are confident they can surpass their goal of turning over £1m by 2020.
Mr Stansfield said: “It’s always been my dream to own my own baking business and I’m so thrilled that it’s all come together. With Goodness Baked, our aim is to offer unique, consistently high quality produce, while having the flexibility to cater to a wide range of needs, and we already have a number of exciting contracts in the pipeline, so I’m sure we can smash our target of £1m turnover.”
He added that the support from Academy Leasing had been invaluable in helping to get the business off the ground.
“Having initially thought we’d have to get second-hand equipment, which naturally can be unreliable and prone to breakdowns, we were given a real boost when Academy said they could provide us with brand new kit for the factory,” he explained. “Not only has it helped us avoid costly repair bills, but because it looks so professional, it’s laid a great foundation for us to develop relationships with potential clients.”
Paul Horan, asset sales manager at Academy Leasing, said that while they had no history of accounts to prove the sustainability of their business model, the pair came to them with a solid business plan and bags of experience.
“The impact good equipment can have on a business is immeasurable – particularly in catering, where efficiency and consistency are key – so we were delighted to play such an important role in their growth.”
MAIN IMAGE: Ian Stansfield and Siona Mckimmie of Goodness Baked, with Paul Horan of Academy Leasing (centre)