Business Loans Case Study
Hull-based Ludo Studio is an internet marketing and graphic design company, established in 2007, which employs 15 people. The company operates the Retail Centred and Optimised Law brands.
Retail Centred offers signage and sales material for retailers and shopping centres while Optimised Law provides self-managed internet marketing packages for law firms.
Managing Director Chris Middleton said: “We used to be a marketing company that did all things for all people until we realised that we had specialist skills and a customer database that was skewed towards shopping centres and legal clients. This led us to create two new brands and we structured our team internally to develop these markets further.”
Ludo Studio also operates MY Office Branding and MY Vehicle Wrap, which offer graphic design and printing services.
Turnover currently stands at around £1m but the company is aiming to hit £2.5m within five years and double the size of its team. The company required external funding to take advantage of opportunities created by its new brand propositions.
Finance Yorkshire Involvement
Ludo Studio was introduced to Finance Yorkshire by Darren Trice of Kaizen Consulting, who worked alongside the directors to produce a strategic growth plan.
Finance Yorkshire provided a £50,000 Business Loan, which will enable Ludo Studio to invest in business development, marketing material and telemarketing as it looks to gain new customers and accelerate growth.
The Investment Rationale
Ian Atkinson, Investment Manager at Finance Yorkshire, said: “From the first time we met with Ludo Studio, we were impressed by the young, dynamic management team, which has already overseen steady growth.
“They are totally focussed on taking advantage of the growth opportunities presented by their business brands and we are delighted that they are already creating four new, skilled jobs in Hull city centre.”
The Business Loan will enable Ludo Studio to reach the next stage in its development by investing in staff and taking on more work.
Kishor Tailor, Chief Executive of Humber Local Enterprise Partnership, said: “The Humber is going through a renaissance, with digital technologies having a strong focus across our region. It is great to see that small businesses in the digital economy are growing and thriving.
“The importance of online platforms to maximise brands is paramount to business growth and success, with the digital sector constantly changing, as new technologies are created, we need a workforce of creative, forward thinkers, ensuring the Humber stays strong in digital technologies.
“It is great to see four new jobs being created in this sector, and we wish Ludo Studio success with this business growth project.”
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire