Dreams underwritten daily
Steve Green on financing your coffee roaster
We’re ready to help you finance your dreams or expand your existing business but our unique take on financing is don’t do it unless it makes sense.
Most every would be entrepreneur (probably French for “serial failure”) runs into a lot of well intentioned and mostly totally incorrect advice about how to start a business. Mushy make believe stuff like “do what you love”, “follow your muse”, (as opposed to “do what your customers love that makes money”) or the often misapplied “no risk no reward” (which takes people down the path of thinking that all risk is rewarded; 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. Spare me, please.
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. Ie. 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.
3) You’re currently spending more than 4 hours a day in front of a smaller machine.
4) You’re a pure start up, but you know enough about the business to take a chance and you can afford to make the payments out of savings or wages if things don’t work out as well as you hope.
We’re Minnesotan and are therefore fully authorized to quote the great Gretsky by stating that “You will never make a shot you don’t take”, but neither do we ascribe to the notion that “A bad bet is better than no bet at all.”
We want your business (and your money), but we also want you to succeed. If you still think financing is a good idea, fill out the form on this page and someone will contact you shortly.