Merchant Cash Advance Tailor Keeps The Doors Open
Author: Valerie Mellema
Date posted: 11.21.22

A tailor might not be the first business you think of when it comes to essential services. However, one tailoring business on the east coast might make you rethink that assumption. As one of the world’s oldest professions, tailors today can make good money creating custom garments and altering gorgeous clothing. While tailoring might be a centuries-old business, that doesn’t mean technology hasn’t changed the landscape. Being capable of keeping up with new trends is a must in this specialized profession.

The Need to Modernize to Stay Afloat

 

There are numerous modern technologies that are associated with a great tailor shop. The woman running this shop knew that but had lagged behind slightly in embracing new things. As business ran into a lull, she started to worry about the future.

 

Staying relevant would require new technology and techniques, like social media marketing, integrated backend solutions, and even the potential for distance tailoring. While things were slow, it seemed like the right time to learn more and decide what would be needed to take the shop from good to fantastic.

 

The Costs to Become Something Great

 

The first priority for the owner was to put in place new technology for business tasks, such as inventory, accounting, shipping, and billing. This would free up time for actual work on garments. Bringing someone on for marketing online also seemed like a good option. If she wanted to do distance tailoring, she also knew her systems would need to be updated for that.

 

After looking into solutions, the owner came to the conclusion that everything she needed could be done for about $150,000. From there, it was a matter of finding financing to make some needed changes.

Which Financing Option Is Right?

 

There are so many business financing options today. There are loans, lines of credit, cash advances and others. Choosing the right option can take a lot of work. Some of the alternative forms of financing felt more tuned to her business than a traditional small business loan. After digging through her options, it became apparent that a merchant cash advance could be the perfect solution to bring her tailoring business into the future.

 

The Appeal of a Merchant Cash Advance

 

One of the most significant reasons to choose a merchant cash advance is to help a business that is struggling with cash flow. This was becoming a slight problem and jumping into this form of financing was likely to alleviate the issue before it become even more serious.

 

The money from the merchant cash advance could be used for all the updates the owner wanted to make. In the process, she would pay it back based on a percentage of her sales. When money was tighter, less would be paid back. It helped her feel solid with the business and moving forward.

Tailoring Across the Country and Beyond

 

In the end, the merchant cash advance ended up being a great option. The owner was able to keep the cash flow going while updating her systems and gaining a more significant presence online. Those two changes alone have helped the tailor shop gain more customers.

 

As for the future, the idea of distance tailoring is still simmering. For now, the merchant cash advance has improved things and the owner is excited about the future. Bigger and better things could be on the horizon with the help of the right financing option.

About The Author | Valerie Mellema

Valerie has over 16 years of experience as a professional writer of blogs, eBooks, articles and press releases, with a focus on finance and alternative lending. Valerie resides with her family in Texas and is passionate about her horses.

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