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If you’re seeking financing, a quote before you apply will better inform you of the amount of funds you’ll need.
Is financing the right choice for you?
Advice from Mill City Roasters’ owner, Steve Green
We’re ready to help you finance your dreams or expand your existing business but our unique take on financing is this: Don’t do it unless it makes sense.
Most every would-be entrepreneur runs into a lot of well intentioned and mostly unapplicable advice about how to start a business. You know those inspirational poster-worthy phrases like ‘do what you love’, ‘follow your passion’ and the often misapplied ‘no risk no reward’ which takes people down a path of thinking that ALL risk is rewarded – spoiler, it is not. And don’t even get me started on the whole “business plan” hullabaloo where you’re supposed to calculate exactly how much money you’re going to make before you sell a single pound of coffee. Let’s be real – that’s not a plan. That’s a wishlist.
Grandpa Green, a smart and successful businessman, snappy dresser, and one heck of a good guy used to say “You make your money on the buy” and “It’s not what you take home, it’s what you keep” and “Grow where you’re planted.”
If you’re going to take business advice, consider the source, okay?
Credit can be a powerful tool, but the easy availability of credit can short circuit creativity and rob you of the opportunity to become the professional overcomer you want and will need to be. Worse, the burden of debt can rob you of future options that you’d otherwise be in a position to embrace.
Don’t think for a minute that I’m anti-financing or that I think you should pay cash for everything. Remember, I’ve actually had some significant financial training and education. I am well aware that there are real tax advantages to financing and that lenders exist in a symbiotic, not predatory, relationship with business.
That said, lenders ultimately trust you to make sound business decisions for yourself. You should really only be thinking about borrowing money to buy a roaster when:
1) You’re a shop owner that wants to expand into roasting to supply your own demand. You’ve got a built in source of revenue to floorplan the roaster.
2) You’re currently selling coffee to people that have expressed the desire to expand that relationship and buy more coffee from you.
3) You’re currently spending more than 2 hours a day in front of a smaller machine and need to increase your capacity.
4) You’re a start-up, but you know enough about the business to take a chance and you can afford to cover the financing payments personally if things don’t work out as well as you hope commercially.
We want your business, but we also want you to succeed. If you still think financing is a good idea, click the button, fill out the form and someone will contact you shortly.