Start Up Loan from SWIG Finance gives franchise owner the keys to success

Cornwall locksmith Wesley Davidson was able to turn an unusual talent into a fulfilling career change with the help of a £25,000 Start Up Loan delivered by SWIG Finance.

Start Up Loans is part of the British Business Bank and offers personal loans of up to £25,000 and free mentoring to help anyone start or grow a new or early stage business.

SWIG Finance is the Bank’s Business Support Partner for the government-backed programme in the South West, and last year alone delivered £7 million in Start Up Loan funding to over 400 new and early-stage businesses.

Wesley, who is 47 and from Truro, invested in the Lockrite Cornwall Ltd franchise, and is now one of the company’s most successful franchisees.

He discovered an aptitude for picking locks when he was a bit younger. “It was for sport – entirely legal,” he laughs. “I saw something on YouTube, had a go and found I had a knack for it. I even bought a see-through lock to hone my skills.”

Wesley trained as a plasterer, and forgot all about locks until he hit his mid-40s. Managing a team of drivers for a large delivery company, spending long hours at a laptop, he felt life had more to offer. “I felt overworked and unfulfilled,” he admits.

Inspired by a friend who had taken on a franchise in another field, Wesley explored the world of locksmithing. “I knew it was something I would excel at,” he says. “I did my research into how many businesses there were and what their response times were, to see if there was a demand for it. I also worked out how much money I would make, and whether it was a sustainable source of income for the rest of my working life.”

Having investigated the different locksmithing franchises available, Wesley plumped for Lockrite on the grounds that “so many of their locksmiths have been with them for 10, maybe even 15 years, which suggests it’s a good company to work with”. 

His enthusiasm for his new profession is infectious. “I don’t watch the clock - my van is my mobile office, and I’ll work late if need be,” he says. “When you turn up, people are pleased to see you because they are often in crisis – locked out of the house, can’t open up for work – and I love helping them. I wake up every day and I relish the challenge.

“And it’s all happened thanks to a Start Up Loan from SWIG Finance, who were tremendous from start to finish – very understanding and helpful with any questions I had.”

Wesley covers Cornwall and Plymouth, and hopes to expand the business to employ other locksmiths in the furthest reaches of his patch.

Jo MacEachen, Senior Start Up Loans Manager with SWIG Finance, said: “It was great to work with Wesley - his passion and commitment was evident from the start. He was well-prepared and had undertaken a deep level of due diligence with other franchisees. 

“The franchise was a perfect fit with him, and I was so happy to have been able to assist with his application.”
 

About SWIG Finance

SWIG Finance is a people-based company that provides loans and support to help smaller businesses in the South and West Country grow. We base our lending decisions on potential rather than collateral, which means that we can often support businesses when others can't.  

We’re growing every year. In 2023/24, we lent £14m to 500 businesses, helping to create and secure over 700 jobs and generate £71.5m in social impact. Download the report here.

If you’d like an informal chat about your funding requirements, get in touch with our friendly and professional team to see how we can help: info@swigfinance.co.uk / 01872 227 930