Since January, we have just been waiting, waiting, waiting to hear back from banks about our loan application. Banks are still feeling a bit shy, it seems, and don't want to loan to start-up businesses.
So about two weeks ago, Mike and I were ready to admit that the idea, great as it was, wasn't going to work out. We just couldn't get the funding we needed. Then something crazy happened. The man who owns the real estate development said, "Maybe I'll just loan you the money." We said, "Um, OK."
It's crazy! Despite all the waiting and difficulties, so many things have come together to make this happen: We got an incredible deal on licensing the product/brand (rather than paying the high fees of a franchise), we got an incredible deal on the real estate itself, including a huge amount toward our finishing costs, and lastly, the owner just up and loaned us the money himself. I love someone who believes in the little guy!
We accepted his offer for a loan on Thursday, signed the papers on Friday, and construction started today! I wanted to go in a red dress and lipstick and cut the ribbon or at least fashionably thrust the shovel into the ground for the first time while photographers snapped away, but I guess that only happens in the movies.
For those of you who don't know us personally, you have to understand how incredible this is - we're not exactly wealthy entrepreneurs who just do this kind of thing. We're more like angsty English major dreamers who are more used to having our ideas thwarted. So, this is kind of incredible.
Here are a couple of videos Mike took that show the site.
If all goes according to schedule we will have a grand opening celebration July 4th! And you're all welcome!
Now, our days are already looking different, filled with things like getting a tax license, health permit, building permit, and talking to coffee and equipment suppliers. But what fun!