Short Term Loan Here Comes The Bride
Author: Stephanie Clarke
Date posted: 07.24.23

Leigh has owned a small bridal shop for several years. As her business grows, she has decided to add additional inventory including not only bridal gowns but also more bridal party options. Recently the store next to her has become available and she has already secured the property. The owner has given permission to connect the two rental spaces and she has already begun a minor buildout on the space to accommodate her plan. Leigh’s shop is known for exclusive gowns and accessories as well as exceptional service for her brides and bridal parties, including bridesmaids, mothers of the bride and groom, and flower girls.

Her latest goal is to add more gowns in a variety of sizes as well as bridesmaids’ dresses to compete with online shops offering “try before you buy” services. The idea is to offer bridal party style options and colors which they can try on in store and order bespoke dresses in the needed color and size. For instance, all the bridesmaids could try on dresses in various styles in their size, choose the color palette desired from a variety of dresses in stock and color swatches, and order the dress of their choice, knowing the size and color will be perfect on arrival to the shop. Of course, Leigh also offers alterations as needed, but is hoping the new idea won’t require many adjustments.

Leigh knows it will mean the addition of considerable inventory, not only of dresses but also shoes and accessories but feels the variety of sizes to try will more than pay off in the long run. She also understands she will need to add new styles regularly, maintaining best sellers on hand but cycling out the unpopular styles. She has already addressed funding for most of the renovations, but needs additional funding for the displays, dressing rooms, and new inventory.

 

With the goal to be the one-stop-shop for each bride’s bridal party, Leigh went to work getting cost estimates for all she needs to move forward with her plan.  Since she already has considerable word of mouth advertising as well as a popular social media presence and a strong referral network in the bridal industry, Leigh believes she can promise bride and bridal parties a unique experience that sets her apart from the competition and grow her costumer base rapidly.

 

Her cost estimate for the displays, dressing rooms, and inventory is $110,000. Armed with excellent credit and solid financials, Leigh began her search for available financing options at reasonable rates. Ultimately, she settled on a 36-month short-term loan at a good interest rate. She believes the upcoming wedding seasons will boost sales so she will be able to repay the loan within the length of the term. With the funds, Leigh went to work quickly securing the new inventory and completing the renovations.

 

About The Author | Stephanie Clarke

Stephanie has a bachelor's degree in psychology and has been a professional writer for over 15 years. Her client list includes New York Times bestselling authors, publishing houses, prominent public figures and successful business owners. She resides with her family in Florida.

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