Commercial Real Estate Financing
Keeping Things Modern Matters
The karaoke joint had been doing well for the first year even if growth was slow at the beginning. However, the owners knew that they wouldn’t keep a big crowd if they allowed quality to slip. It was important to implement activities and items that the customers wanted to ensure things kept growing.
One of the biggest things the duo wanted to do was upgrade the sound and machines used in the business. However, they knew it wasn’t something they could do all on their own at once. Financing was going to be needed.
The Cost of Upgrades
The owners researched and chatted to determine exactly what changes should be made to machines, equipment, and any other needs to stay relevant. Adding private rooms with top-quality machines would likely cost quite a bit.
After determining their list of needs, they looked into options for getting all the items the owners wanted. In the end, it turned out that a $100,000 loan would probably be needed to keep things moving at the karaoke bar.