Merchant Cash Advance
The Need for Something New
With revenue going down compared to past years, the owners of the convenience store started to consider what was going wrong. There was no clear reason that they weren’t seeing the same profits. However, after talking with people in the community, it was clear that they wanted the store to offer something more.
These conversations brought up many ways to make the convenience store a bit more modern. However, one amenity that repeatedly came up was the need for a car wash. After all, it’s common for gas stations to have one. This led the owners to start considering whether adding one would be possible.
The Cost of Innovation
After deciding to think about adding the car wash, the next step was to look into whether it would be possible. The first stage of that was looking into options and considering the costs it would take to make the store more modern and capable of delivering better value.
There were several options for installing a car wash but when it came down to it, they chose one that had a reasonable cost. After looking into the options, they came to terms with the fact that it would cost about $350,000 to do things right.