ToolShed | Good Finance

ToolShed

ToolShed is a social enterprise helping young people start their career in construction

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Duration 
5 years
Cost of capital 
10%
Turnover 
£385k
Amount invested 
£70,000
Product 
Blended – part grant, part loan

When a combination of people, influences and place comes together it can impact our lives in a special way.  I think Toolshed is like this and will help change the lives of many for good.

Challenge

We work with young people (15 to 19) who have had a difficult time at school and lost their confidence. We strengthen this confidence so they leave ready and focused on earning their own living.

Solution

We enable the young people to achieve a level 1 qualification in construction crafts and obtain their CSCS Card. They are then ready to leave us confident they have the relevant skills and experience to earn their living in a construction role. 

We used the loan to start the construction service which in turn enables us to offer enriched learning experiences for the students and to be more ambitious in the learning we offer - because we have larger surpluses.

Revenue model

Our business model is threefold:

  1. ESFA Approved training courses for which we are paid a fee to deliver
  2. Works services for private clients (eg: gardening, decoration, carpentry)
  3. Offsite Manufactured Construction services for private and commercial clients. We train young people and then hire some of them to work and build for us.

The funding we received from UnLtd:

  • Loan - £70,000
  • Grant - £10,500 

Impact

The funding from UnLtd will enable us to treble our turnover and offer more enriched learning pathways for the young people we train and who work for us.

I love my job - it is so rich and varied - each day brings new challenges and the difference we make in the lives of these young people is amazing.

- Student Welfare Officer

UnLtd is proud to have been part of ToolShed’s growth journey. Their commitment to improving the lives of the young people they work with, through dedicated tutoring and real life work experience creates a sustainable and prosperous business model. ToolShed help those hardest to reach young people at a crucial stage in their lives and this is why UnLtd chose to invest in the venture.

- UnLtd

Investor Details 

UnLtd

UnLtd is a charity which supports social entrepreneurs – people with vision, drive, commitment and passion who are coming up with solutions which can change the world for the better.

Financial product offered: 
Unsecured loan (incl. overdrafts)
Blended – part grant, part loan
Quasi-equity