City: Windsor, ON
Advance Amount: $40,000
This client came to us from one of our competitors in the merchant cash advance industry. She owned a medium sized restaurant in a busy shopping plaza in downtown Windsor, Ontario and was looking to do some marketing. This client had done a merchant cash advance in the past to finance some mail-outs but found the overall cost and income generated wasn’t enough to justify it.
As many of you may know, the economy in Windsor has been a little sluggish since all the cut backs at the GM plant and our client was seeing the effects in her sales. As a relatively new business, offering high quality food at a very reasonable price, she felt the trick was getting people to find out what she was there and the loyalty would be no problem. With the slower sales, she was having trouble paying back the large merchant cash advance she had take but with an overall lower rate and a slightly smaller advances a few times throughout the year as opposed to one large one, she was able to test her audience and see which mail-outs were most successful in drawing in the customers. After 5 advances in the past 2 years she has doubled her sales from this time last year!
This client was right – all she had to do was tell them she was there and the rest has been a breeze! We’re glad we were able to help!