When you have a small business like a liquor store it is a
challenge to keep the inventory stocked properly. You
want to be the “go to” place for your area. If you always have your most
popular products well-stocked word gets around, especially if you operate a
business that sells liquor. It’s important to build
a relationship with a company that does liquor store purchase financing. Why would you need liquor store business financing when
you already have the store up and running?
Why Would I Need More Funding?
This type of business gets a lot of its customer by word of
mouth. For example, someone will have been to a party or event where a
particular liquor or microbrew was
served. Now they are hosting an event, but they can’t find the product at their
usual sores. Their friend tells them about your place and in comes the order.
This is, of course, a win for you. The problem arises
when word gets around, you don’t yet realize you’ve become the main supplier in
your area, and consequently, your stock
gets low. Worse yet, you don’t have sufficient working capital to replenish the supply.
Perhaps you had an event at your nightclub and introduced a
new wine, beer, or liquor. People that attended
the event are now clamoring for the product. You have to stock it so you need
to find a company that handles nightclub
business financing. This gets you the inventory you need quickly.
Disappointed patrons don’t stay patrons for long.
Where Can I Get the Capital I need?
Your bank typically won’t help with a loan for working
capital and it will take far too long for you to actually get the funds you
need. You have to find a place to go at the drop of a hat. You need a company
that specializes in the best small business funding.
A bank has requirements that capital funding companies do
not. These companies provide short-term
loans that act as a bridge until you can get your inventory better stocked to
adjust to the new role you are playing in your community. Make no mistake, you
can’t just walk in, ask for money and expect it to be given to you. Companies that will provide liquor store purchase financing also have requirements.
The good news is they look at risk factors differently. One
part is looking at how long you have been in business and the next part is
determining if you have made a profit during that time. They don’t require that
you’ve been in business for years, months will do. Once you are accepted the
funds are quickly available.
