Local Bookstore Expands
Merchant Cash Advance Local Bookstore Expands
Author: Valerie Mellema
Date posted: 07.20.23

While it might seem like everyone is moving to eBooks lately, many people appreciate having a physical book in their hands. A local bookstore on the East Coast was started due to the owner’s appreciation for print books and in the two years it had been in place, things had always been fairly successful. Consistent sales made it clear that many people still enjoy perusing a real bookstore.

The Potential to Expand

 

The idea of expanding and opening a second location had come up in the past. The need was there and it seemed like a great way to increase sales for the brand. When a neighboring store went out of business, the owners gathered to decide whether they should investigate renting or purchasing it. While it wouldn’t be a new storefront, it would greatly increase their space. It seemed like a promising way to make progress, but they had to take other factors into account.

 

Costs to Double the Size of the Store

 

Moving into the neighboring space would create much more space for books. This would allow customers to find more items to purchase. However, they would require upfront funding to obtain the second space and integrate everything to make it cohesive. In the end, the costs seemed like they would hover around $95,000 to rent and outfit the space. They needed financing to proceed any further.

Local Bookstore Expands

Selecting the Perfect Financing Model

 

If the owners went forward, they would need some help. Since things seemed perfect for an expansion, they decided to look into all their options. A traditional loan was an option. They were surprised by how many alternatives there were with different sets of pros and cons. It wasn’t long before they started to look at a merchant cash advance, which is what they chose to apply for.

 

Choosing a Merchant Cash Advance

 

A merchant cash advance offers several benefits, including a high approval rate, quick and easy funding, and a unique repayment structure based on daily or weekly business earnings, making it an appealing option for the bookstore as they could pay it off based on their shop’s performance. The needed funding was accessible and could be deposited into the company bank account within two days or less, prompting them to proceed with the application and resulting in their approval, which left them pleased.

The Future of the Bookstore

 

The bookstore expanded significantly with dedicated time and effort, making it not only larger but also more profitable than ever before. Their additional square footage allowed them to more than double their book offerings. Customers received this expansion positively. Now, the brand eagerly contemplates opening another bookstore for greater success.

Local Bookstore Expands
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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