Commercial Real Estate Financing
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.