Entrepreneurship can feel dangerous and thrilling. Similar to prospecting during the gold rush, owning a business can be as daunting and intimidating as it is fulfilling and profitable. Over the past few years, our collective economy has witnessed steady growth where the number of entrepreneurs, online business owners, and home-based businesses is concerned. We are certain that each type of business has its advantages and disadvantages, but it is a matter of necessity for entrepreneurs to be able to have a clear understanding of our needs and take inventory of our strengths, weaknesses and available resources. Starting and running a business is a herculean feat, especially for a first-time business owner. Let’s weigh some of the basic pros and cons of procuring a loan for a brick and mortar company.
The first and probably most obvious proof having a physical location attached to your business name is visibility, but the most obvious question is how do I afford it? While one of the key tenets of real estate is, “location, location, location”, it is also necessary to operate within our budgets and constraints. A small storefront on a busy street in the right neighborhood can metamorphose into a multi-million-dollar corporation. We have to see the bigger picture and not bite off more than we can chew. A small boutique owner does not need to buy a four-story office building. We must be wise. Many companies have grown their brands by starting small and utilizing customer financing programs to build revenue because they were unable to procure working capital loans for small business. Financing Your Way is also available to assist you with any needs in this arena as well. Other advantages to operating inside of a brick and mortar space include being able to establish trust and confidence in our brands and products immediately.
There are, of course, arguments against divesting your energy into a brick and mortar, primarily when the initial investment for start-up costs and overhead are third-party sources of working capital finance. A wrong turn in zoning or a decrease in property value can mean disaster! The most important thing, either way, is to be informed and make the best decision we can with the resources that we have at our disposal. It is also important to have professional advice and expertise on hand. Working with a company like ours at Financing Your Way can be the best decision for a new entrepreneur.