A Bedford-based national window cleaning business has secured a £250,000 investment from the Midlands Engine Investment Fund (MEIF), provided by The FSE Group Debt Finance Fund, which provides funding for businesses with high growth potential.
Tidal Cleaning Services is a national company operating under a franchise model, and was founded in June 2020. The business, which is launching on average one new franchise every week, has already grown to over 25 locations serving 3000+ customers, making it one of the largest UK franchisors in this sector.
The MEIF funding will be used for a range of activities to drive the growth of the business including website development, marketing, vehicles, and the creation of 3 new head office roles.
Tidal provides its franchisees with everything they need for their window cleaning business including a van, equipment and supplies, training and uniform. Franchisees also gain access to Tidal’s software systems with lead generation and diary management, customer communications, payments, and marketing, which allows them to focus on cleaning whilst also running an efficient and successful operation.
Ralf Hodgson, Tidal Founder and Managing Director, said: “From our early franchises we learnt that providing high-quality back-office support was key to success. Our goal is to become the UK’s leading window cleaning franchise in the next five years, which means growing our franchise base and investing in the core operation to support this. We are now building on the structures we have in place to accelerate our growth and we’re grateful to MEIF and FSE for being prepared to invest in our young and forward-looking business.”
Ann Marie McFadyen, Investment Manager at The FSE Group, added: “An entrepreneur since school age, Ralf is a driven MD who developed his part-time window cleaning round into a successful franchise business. He has brought on board a strong management team with significant expertise across the franchising sector and has established a business with a clear vision, good brand ethics, reliable metrics and a technology-based platform to ensure continuity amongst its franchises. We are delighted to be supporting Tidal as it rolls out its highly-scalable franchising operation.”
Mark Wilcockson at the British Business Bank said: “MEIF funding aims to support scalable businesses to achieve their growth potential and the franchise business model of Tidal Cleaning Solutions is a perfect example of how this investment can support expansion. This funding will result in the creation of new job roles in the Midlands, channelling further investment into the region – we encourage other Midlands SMEs looking to grow in this way to consider the MEIF funding options available.”
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2022 and the European Investment Bank. The FSE Group, MEIF Debt Finance Fund provides loans between £100,000 and £1.5 million to help growing SMEs across the region. For more information visit: www.thefsegroup.com/fund/midlands-engine-investment-fund-debt-finance or contact Ann Marie McFadyen.