Asset finance drives big branding and growth opportunity

The founders of Executive Security Solutions (ESS) saw a gap in the security industry for a service and technologically driven security provider and capitalised on the opportunity. “There was a need for highly-trained, highly presentable security officers,” recalls Chief Financial Officer Danny Harris. “No-one else was doing it.”

In response to the need for a security company with a service and technology driven approach, Executive Security Solutions was launched in 2006. “We started by providing special event security services in Victoria,” recalls founder and director, Michael Cohen. “It’s evolved into an all-encompassing security services company that operates nationally with over 350 staff.”

After its launch in 2006, ESS grew rapidly. “We wanted to expand into mobile patrols and alarm monitoring,” Danny recalls. “And we decided to go out into the industry with a bang. Very early on in the business, we put four 4-wheel drive cars on the road – big vehicles with stickers, high visibility – so that we had an immediate presence. Our competitors were in little cars, which never got seen. So we decided to spend money on advertising using our cars.”

To accomplish this rapid expansion, ESS turned to ANZ who were an easy choice as they already taken the time to understand the business and looked after their transaction banking. “The decision to use asset finance as opposed to other forms of lending was made when ANZ listened to what we required and asset finance was presented as an option to meet the need of purchasing our vehicles" “Dealing with ANZ was very easy,” Danny recalls. “We called them up and said this is what we’d like to do, and after reviewing our banking products and needs, they were the ones who came up with the solution of asset finance. Our bank manager put us in direct contact with Kylie Swaine in asset finance, who looks after us to this day. She makes it so easy – she’s very accommodating.”

When asked what the main considerations were before applying for asset finance, Danny responds that cash flow and tax implications were high on the list. “We looked mainly at our cash flow, and forecasting the growth, so that we could manage our payments to ANZ, and make money,” he explains. “The fact that it’s tax deductible is also a helpful benefit.”

The decision to initially purchase vehicles paid off. “We started with four vehicles, and people recognised us, and we got more business,” Danny says. “Now we have 35 mobile patrol cars nationally. ANZ’s asset finance solution was how we paid for those cars, and we’ve seen the business grow as a direct result.”

Since the purchase of the vehicles, ESS have used asset finance for other areas of business growth. “Servers and other IT equipment, and an office fit-out,” Danny says. “It’s a lending solution that’s just worked so well for us and how we’ve grown.”

Danny’s quick to share how asset finance has benefitted ESS in other ways too. “It’s a great help with cash flow,” he explains. “And not only do they have really competitive rates, but having access to someone like Kylie, who’s extremely helpful, has been really important and beneficial for us.”

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