Commercial Real Estate Financing
How to Stay on Top When Competition Grows
As a brick-and-mortar CBD store, there’s only so much you can grow, but with the Internet sprawling with options, some people chose to take their business there rather than needing to shop in a physical store; between this and local competition, the store owners were starting to feel the heat as their CBD store breathes new life into the online market, revitalizing their presence and attracting a wider audience.
The idea of moving into the online space came up several times before the owners decided to make the leap, envisioning a future where the CBD store breathes new life through expanded reach and increased customers, ultimately thriving beyond the limitations of a single physical location. It would end up being a complicated process, but the potential for the CBD store to breathe new life into its brand and offerings was undeniable, promising more business and customers than would ever be possible as a single storefront in one location.
The Price Tag to Enter the Online CBD World
After deciding to embark on a new direction, the primary concern revolved around costs: How much would it require to establish an online storefront captivating the denizens of the Internet? Surprisingly, the figure turned out to be lower than anticipated.
For approximately $75,000, the CBD owners could venture into the online realm, showcasing their products to customers nationwide. While this appeared reasonable, the owners aimed to locate a financing solution to prevent excessive depletion of their savings.