Commercial Real Estate Financing
The Need to Modernize to Stay Afloat
Numerous modern technologies are linked to a top-notch tailor shop, yet the shop’s owner, aware of this, had slightly fallen behind in adopting these innovations, causing concern for the future as business slowed down. To remain pertinent, embracing novel technology and techniques such as social media marketing, integrated backend solutions, and even the possibility of remote tailoring became imperative.
With business activity subdued, the opportune moment to acquire knowledge and determine the enhancements required to elevate the shop’s status from satisfactory to exceptional had arrived.
The Costs to Become Something Great
Initially, the owner’s foremost priority lay in implementing new technology to streamline business tasks, encompassing inventory management, accounting, shipping, and billing, thereby creating more time for hands-on garment work. Furthermore, the idea of bringing onboard a professional for online marketing gained traction as a promising option. Concurrently, the owner recognized that updating her systems would be essential if she aimed to venture into distance tailoring.
Upon thorough exploration of potential solutions, the owner conclusively arrived at the realization that executing all requisite changes would incur an approximate cost of $150,000. With this insight, the subsequent step involved actively seeking financing to facilitate the necessary modifications.