Situation
An experienced spa manager and her business partner contacted Ground Floor Partners for help developing a comprehensive business plan for a high-end salon and spa in one of Chicago’s upscale neighborhoods. She needed the plan to obtain enough debt financing to secure a lease at a high end retail location.
Client and her partner had many years of experience, both on the business side and the technician side. They also had a large group of previous clients and fans who promised to move over to the new spa when they opened.
Results
Ground Floor Partners worked closely with the partners on their business plan. We helped them map out their revenues and expenses for the first three years, and also introduced them to an insurance broker, a website designer, a business attorney, an interior designer, and several banks. After a long search, the client was able to get enough financing (personal loans, credit cards, bank financing, and angel investors) to secure a lease at favorable terms and open the spa. One of the early stage investors was a long term client and friend.
The spa is now well established and has been operating profitably for years.
- Focus On … Something - December 16, 2020
- Business Planning for Success - August 14, 2020
- Where Do We Go From Here? Small Businesses and Coronavirus - March 23, 2020
- How International Conditions Can Affect Your Small Business - February 15, 2020
- Selecting the Right Firm, or What Could Possibly Go Wrong? - December 10, 2019
- Should You Scale Your Business? - July 17, 2019
- 15 Tips to Protect Your Small Business on the Internet - May 30, 2019
- Bright Shiny Object Syndrome - May 17, 2019
- Interview with Cecelia Hamilton - April 8, 2019
- Helped Beverage Startup Go to Market - March 27, 2019