Commercial Real Estate Financing
Rural Areas Love Sports and Recreation Too
At this meeting, one of the owners brought up the idea of expanding. Rather than recommending a branch in the big city (or even one of the suburbs), they instead focused on a small rural town in the area. At first, the owners weren’t all on board but the more they researched, the more it looked like a great idea.
Rather than plowing forward, they wanted to look into their options. If the cost was reasonable and they could find the right financing option, they decided the idea of expanding into smaller markets could be useful. So they all went to work to find out more information about the potential expansion.
The Cost to Open a New Store
Once costs were nailed down, they came together to talk again. Based on the information the owners found in research, they were fairly sure they could move forward and open the new location for $400,000. This would take care of the land and building, as well as filling it with stock and all the other extras associated with a new business.
Now the new question was whether putting this much into the project was worth it. After the owner who recommended the decision shared a presentation, most of the owners were on board. The next step was to look into what kind of financing would be the right choice.