Coffee Shop Brews New Business
Merchant Cash Advance Coffee Shop Brews New Business
Author: Valerie Mellema
Date posted: 06.13.23

What’s the first thing you drink every morning? For many people, the answer is coffee. That’s why so many cafes specialize in this caffeinated and tasty brew. Two friends on the West Coast were huge coffee aficionados and opened their own shop to brew and serve the beverage they loved most. The shop was a hit and had always offered a unique environment for customers of all sorts.

What If the Shop Could Be More?

 

Slinging coffee and pastries is a common theme, but the owners of this shop had always wanted to do more. As things calmed down and business became consistent, they decided to talk about whether that was still an option. Opening up the doors to different parts of the community for events was something they thought would make them stand out.

 

The Process of Change

 

The owners quickly jumped into gear once they agreed they still wanted to serve the community. They started looking into other coffee shops that had done the same thing and how it all worked. It took some time to go through ideas and agree on the process but both owners wanted to go forward with the plan.

 

Having a space for groups and events was the main focus of the upgrade to the shop. Being able to advertise it and make sure businesses knew it existed was also important. Making changes to the shop layout and advertising was likely to cost around $150,000, so the next step was finding funding.

Coffee Shop Brews New Business

Choosing the Right Financing Option

 

It took some time to determine which type of financing would work best. With so many options, it was a bit overwhelming. However, the owners went through all the information and narrowed it down to just a few. They weren’t particularly interested in a traditional loan so they focused on other options.

 

Once they were down to a handful of options, it was easier to decide which best fit their needs. They went forward and applied for a merchant cash advance.

 

What Makes Merchant Cash Advances Stand Out

 

Merchant cash advances have a higher approval rate than many other financing options, which gave the owners peace of mind. Payments fluctuate, based on revenue so it was a very flexible choice even if sales were inconsistent.

 

Cash advances can be made for virtually any amount with terms lengths that range from three months to two years. In addition, funding is provided quickly, which let the owners make changes right away.

What Happened After Approval

 

With the help of a merchant cash advance, the coffee shop has flourished and brought in even more customers. All sorts of events are on the calendar and the space has turned into a hub of the community. The cash advance has been a great way for the owners to grow the business and offer something new.

Coffee Shop Brews New Business
About The Author | Valerie Mellema

Valerie has over 16 years of experience as a professional writer of blogs, eBooks, articles and press releases, with a focus on finance and alternative lending. Valerie resides with her family in Texas and is passionate about her horses.

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