What was their challenge?
IndiRock is a startup social enterprise with an indoor bouldering facility on a high street location in Southend-on-Sea. They had identified a need for the facility in the area and the Council recognised the proposal’s potential to help rejuvenate the High Street.
What was the support you provided / offered
We were commissioned to review the business model and develop the financial modelling to service a loan to help finance the enterprise. Additionally, we helped them secure the support of Sport England, who recognised the potential impact of IndiRock to their local communities.
Our support included:
- Support in raising funds from Sport England
- Testing the business and financial planning for the proposal, providing confidence to key stakeholders
- A Sporting Capital loan of £120,000
What was the impact or outcome of support?
Our support enabled IndiRock to open its doors in early 2022, and in their first full year of trading saw nearly 10,000 visitors. They have also secured service contracts from Southend City Council to help establish a diverse revenue stream.
“The team took time to understand our vision and believed in our ability to deliver on it. They introduced us to Sport England adding significant capital and revenue grants. This sort of partnership working was outside of our realm of imagination and completely unlocked our start up journey”.
Emily Vermont, Founder and CEO