Member Article

Tattooist draws a secure future with help from Entrust's Microloan fund

A talented tattooist has achieved his dream of opening his own studio thanks to an investment totalling £9,000 from Entrust’s Finance for Business North East Microloan Fund.

Jamie Richardson opened On Point in Walker, Newcastle in April last year and while rival businesses in Chillingham Road, Heaton, and Byker have closed, his new business is bucking the trend.

Jamie was receiving Jobseekers’ Allowance when he decided to follow his passion for tattooing and set up his own business. A talented artist who creates bespoke designs, he had previously worked for other tattoo studios but the commission-based pay was insufficient to support his family.

He said: “With a tattoo, it’s not something that is mass produced and people come because they want my style of work.

“I researched the area and there wasn’t a tattoo shop in Walker so it made commercial sense to set up here. Best of all, my son lives in Walker with his Mam so being here allows me to spend more time with him too.”

The talented tattooist received advice and help with putting together a business plan from welfare to work and training provider Avanta in North Shields, which advised him to contact Entrust to apply for start-up funding. He was successful in securing money from the £5m Microloan Fund, which Entrust manages on behalf of North East Finance. Loans of between £1,000 and £25,000 are available for new and existing businesses, which have faced difficulties securing mainstream finance.

Jamie said: “I originally applied for one loan and this was broken down into three tranches, which I received as I met certain milestones. I initially secured £2,000 to secure the six month property lease for the shop on Welbeck Road, and I had to apply for a change of use as it was a listed building.

“I then received £3,500 to convert the site into a tattoo studio that meets health and safety standards and my final round was for £4,000, to fully stock the shops with machines, ink, needles and mirrors.”

Jamie, who had been unemployed for two years before starting his business, only inks unique, custom tattoos, so he never produces the same design twice. In addition to tattoos, he sells On Point branded merchandise, including hoodies, T-shirts and mugs. He has successfully used social media to market his business on Facebook and YouTube and receives a lot of repeat custom and trade through recommendations.

Jamie said: “Business is ticking over excellently. People don’t need a tattoo every day but it’s going well, I’m paying my bills and building up my reputation.

“I am paying my start-up loan back over three years and once I’ve covered that, I’ll be in profit. If I didn’t have the loan, I wouldn’t be here today so it’s been a fantastic launch pad.”

Entrust’s Andrew Reilly said: “Jamie is very passionate about his business which comes across whenever you talk to him and also in his work and commitment to repaying his loans.

“I was so impressed with his skills that outside of work I chose him to do my own Japanese sleeve tattoo which I am really impressed with. It is still a work in progress but it’s great to see Jamie in action and I’m looking forward to the final result.”

This was posted in Bdaily's Members' News section by Sarah Waddington .