Merchant Cash Advance
What Changes Were Desired?
With the catering company doing well, the owners started to talk about how to expand. One of the ideas they liked the most was to open a retail space where they could sell pre-made, chef-quality meals to those in the area. Additionally, this move would open doors to a fresh customer base. These were individuals who might not typically consider ordering catering services. The expansion held the potential to diversify their clientele significantly.
Aware that the undertaking would demand significant effort, they were nonetheless eager for a new challenge. Consequently, they chose to delve deeper into the intricacies of the process. Their aim was to acquire a comprehensive understanding before definitively committing to the endeavor. By gathering more information, they intended to make an informed decision regarding whether to proceed with the venture or not.
The Cost of Retail Space
The first thing to delve into was how much the retail space would cost. This required planning in terms of how large the space would be, what neighborhood would be the best location, and how many customers they wanted to accommodate at one time.
After determining all of these factors, the owners determined that the full cost would be about $2,000,000. It would give them a space in a fantastic spot where potential customers were already spending their time. The space would be large enough to showcase their meals and accommodate a large number of customers.