Syscap provided a comprehensive, tax efficient finance solution, which enabled the surgery to acquire IT and equipment needed whilst preserving the partners’ capital

Walker and Wikeley Veterinary Surgeons, which opened in March 2006, is an independent veterinary surgery owned and run by two ambitious and talented vets. The practice is fully equipped with diagnostic and surgical kit, purposely designed to offer a modern, professional and friendly atmosphere.

Veterinary surgeons Will Walker and Helen Wikeley met in 2002 whilst working for the RSPCA Animal Hospital in North London, home to the BBC1 hit TV programme Animal Hospital, in which Helen Wikeley appeared on a number of occasions. Since meeting Walker and Wikeley’s vision has been to open a local veterinary practice in the Telford area that offers high-quality treatment, personal service and a clean, modern and comfortable environment.

If at first you don’t succeed…

Walker and Wikeley’s first commercial property acquisition ended in disappointment when their application to obtain change-of-use planning permission was turned down. Not easily deterred, the partners continued their search and eventually secured suitable premises and planning permission to develop their future business from an existing tyre and exhaust garage.

Walker explains: “The project experienced a variety of procedural delays and problems with building regulations, but that’s probably the same for anyone opening up a new practice. If you’re building from scratch or converting an existing building, like we did, there are a lot of regulations that need abiding by, ranging from fire to health and safety and importantly the disability and discrimination act.”

With the renovations complete, IT and surgery equipment requirements could be finalised. Walker continues: “It had got to the stage where we had secured the money for the building but we needed a cost effective method of funding for the practice’s equipment. I knew a bit about the tax advantages of leasing over cash and hire purchase but also wanted to prevent any unnecessary disruption to cashflow. Remembering a Syscap advertisement in the SPVS Bulletin, I was confident that they would be able to help.”

Syscap offers a specialist finance service

Syscap is the leading independent finance and leasing supplier to professional practices in the UK, and has helped over 10,000 of them stay competitive with flexible finance solutions. Syscap was established 16 years ago to provide tailor-made finance solutions for a range of professional sectors including veterinary, dentistry, legal and accountancy. Syscap veterinary team has an in-depth understanding of how practices are regulated through their professional bodies and the implications affecting finance and leasing.

The flexible finance options for professional practices include finance lease, operating lease, lease purchase, hire purchase, contract hire, practice loans and a Professional Interim Finance Facility, which helps companies maximise cashflow until they can enjoy the benefits of their new resources. “Syscap’s experience in the veterinary market gives it a clear advantage over its competitors,” said Walker. “I didn’t have to explain to them ‘I need an x-ray machine because…’. I needed a finance provider that knew what it was talking about and a company that I could lease everything I needed through. I didn’t need the extra headache of having to shop around or the complication of managing more than one lease payment a month.”

All types of equipment can be financed by Syscap

Under the terms of their agreement with Syscap, Will Walker and Helen Wikeley were able to furnish the practice with a complete range of veterinary equipment including kennels, anaesthetic circuits, piped oxygen systems, x-ray machines, x-ray processors, consulting tables and an entire IT system.

“The practice has been designed to meet and exceed the expectations of veterinary practitioners and customers alike,” said Walker. “However, what is imperative is not just having the latest and greatest technology but having equipment that genuinely helps us to offer a superior level of service and treatment, without breaking the bank.”

Finance delivered with experience and knowledge

Syscap Director Mark Gidge says: “Anyone who has started up a new business can appreciate how critical the first few years of trade can be. With large financial outlays and uncertain cashflow it is important that companies use the most flexible, cost effective solutions to help them succeed. Just like the specialists at Walker and Wikeley Veterinary Surgery, we use our expertise, experience and knowledge to provide the best possible financial solutions to suit our customers’ needs.”

Wikeley comments: “One of the great advantages of working with Syscap was that we had a single point of contact. Our account manager was there whenever we needed him and with our requirements changing up to the last minute, this service was invaluable. Although the changes were challenging, Syscap was flexible enough to accommodate them, whereas if we had used our bank or a different lease company our agreement may well have been set in stone.”

With a little help from Syscap Walker and Wikeley’s dream has become a reality and in March 2006 Walker & Wikeley Veterinary Surgeons was officially opened. Walker concludes: “The last year has been quite an experience so I’m delighted that our hard work has finally paid off. When the surgery is ready for an upgrade we will talk to Syscap but for the time being our focus is back where it belongs: with the animals.”