The Chance to Own Their Property
The location of the business has tons of professional families living nearby. It had experienced a great deal of growth in the last 10 years. The owners were happy with the location and wanted to stick around. When their landlord came to them asking if they would like to purchase the office and warehouse, they had some thinking to do.
The owners knew there would be challenges associated with moving forward but wanted to if the opportunity was there. They had a limited amount of savings to put down for the property and they’d had trouble getting standard business loans in the past.
What Does It Take to Grow?
It made total sense to move forward with purchasing the building so they controlled the entire facility, but the challenges remained. After talking to the current landlord about pricing, the owners were told that the price would run about $1,250,000. This was reasonable but it would also mean doing some work to make sure things came together.