Commercial Real Estate Financing We All Love Puppies: The Story of Pet Grooming Entrepreneurs
Author: Valerie Mellema
Date posted: 11.01.21

Every entrepreneur in the world has a story behind why they went into business. In this case, two colleagues decided that they could offer more with their own business than by being employed by someone else. They both had worked as pet groomers for years but wanted to challenge themselves and create something of their own to be proud of.

Initial Conversations

The world loves pets, and many people appreciate having experts offer services their furry pals need. One of the colleagues of note had some business experience but had never jumped in with both feet. The other was smart and talented but had never worked in business on their own.

 

At first, the idea of opening their own dog grooming store was just a fantasy. But as often happens, the more thinking and research that was done, the more both of them wanted to make it a reality. Fast forward ten years and they have a thriving business. The only problem? Not enough space in their small rental location.

Making a Leap into Commercial Property Ownership

Research of their Mid-western location and the property nearby showed that for $650,000, they could purchase their own building and buy all the additional inventory and equipment they would need.

 

Sifting Through Financing Options

There are a lot of options for financing entrepreneurs. This is good, but it can also make it challenging to decide what is suitable for a particular company. The two owners chose to take a chance and apply for a couple of loans. A commercial mortgage made the most sense and they were approved.

Why Choose a Commercial Real Estate Loan

A commercial real estate loan was the best option to get the property the owners wanted for their pet grooming business. And while they might have considered other loans, they were glad this was the financing that worked. Payments would be reasonable, and they could pay back the loan over 25 years. As long as they continued to be successful, they knew this would be the answer to their dreams.

 

The Aftermath

Once the property was purchased, the owners started outfitting the expanded business. Neither of them regrets any part of the process and are happy to be owners of a location that helps pets feel delighted and comfortable year-round. It’s a lot of work, but the two feel like it’s well worth it.

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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