Going to see a Banker for a HUGE loan tomorrow

[RetroLounge]

I've always had a dream about owning my own bookstore. My business partner (another DU'er who shall remain anonymous) and I have been working on a business plan to open an independant bookstore and cafe for a few months now here in the Milwaukee Area. We attended a series of classes at SCORE, loan seminars at the SBA, have a SCORE mentor, an attorney, an insurance agent, an accountant, have been doing market research, have been reading and studying up on the book industry, have the company name picked out and are ready to register it as an LLC, have the marketing tag line, are working on a logo, have already registered the web site, contacted vendors, received tons of catalogues and information in the mail, evaluated and picked out the Point-of-Sale Software, got an friend from Starbucks to commit to joining us to put together and manage the cafe, we have our niche areas picked out and researched, have a fantastic location at a busy corner where 4 distinct Milwaukee neighborhoods come together, have a design engineer and a general contractor ready to begin the build-out, and we have the desire and we have the drive.

We just don't have the money.

So tomorrow is the day we meet with a banker for the first time to present the business plan, hoping to get, are you ready for it?

$500,000.

Yup, a cool half-a-million is what we need to just open the doors. Of course, that is if we are leasing. We have the opportunity to buy the building and live above the bookstore. There are 2 loft apartments up there and it is a very cool 1890 former Schlitz Tavern and dance hall. My guess is that we will be laughed out of dozens of banks before we find the right one, but the process has to start somewhere.

Those of you that know me know that for the past 6 months I have had a little bit of a hard time with life. Well, this bookstore venture gave me a long-term goal and has kept me sane when I had no hope for the future.

So any good vibes, good luck and good mojo you can send our way would be greatly appreciated.

Thanks! :hi:

RL

p.s. Here is the building:

[Robb]

1. Give up now, you'll never make it

...by which I of course mean good luck! :toast:

[RetroLounge]

3. Thanks!

:rofl:

The gentleman from the SBA loan seminar had a motto: NEVER GIVE UP!

RL

[bicentennial_baby]

2. Merde a la puissance treize!

You, you can do it, my friend :hug:

:loveya:

[RetroLounge]

5. Merci Beaucoup, Ma Belle

:hug:
:loveya:
:hi:

RL

[Lars39]

4. Cool building.

Don't forget to run a fan wafting the coffe fumes to the outside. :)

[RetroLounge]

6. Good idea!

and it has a 1500 sq foot back yard, one day to be the outdoor cafe and garden...

RL

[Lars39]

8. That'll be really nice!

You'll have fun pulling it all together and the customer's will pick up on the atmosphere and keep coming back. :)

[RetroLounge]

That is the plan

We are going to have a blast doing this...

RL

[jane_pippin]

7. Good luck!

Looks like a bookstore would be right at home in a place like that.

Here's to it! :toast:

[RetroLounge]

10. You gonna come by and visit me?

:hi:

RL

[jane_pippin]

16. Sure! I'm a sucker for a good bookstore ya know.

:D

[RetroLounge]

18. That's what I heard...

:D

RL

[miss_american_pie]

9. You can't have my mojo

but good luck tomorrow. :)

[RetroLounge]

11. You better keep your Mojo...

Your luck will do.

:hug:

RL

[DS1]

12. How's the traffic in the area?

And more importantly, parking?

[RetroLounge]

14. Tons of traffic

Intersection of 2 main streets, 4 neighborhoods all come together there. Plus the local college is building a 500-student dorm across the street.

Parking is non-existent, but we have 2 plans so far, one involves the back lot, the other involves buying the building and house next door, bulldozing the house, and puttin in a lot.

RL

[DS1]

31. ! ! !

Special order books for students, you'll make a KILLING undercutting the campus bookstore, and boy, do they need a slaughtering

[RetroLounge]

38. Yup. In the plan...

:D

RL

[Mutley]

13. Good luck!

I love bookstore cafes. :bounce:

[RetroLounge]

15. When we open, we will have a DU meetup there

Will you come?

RL

[WCGreen]

47. Hell, I'd drive up for that.....

[RetroLounge]

96. I hope so

THat would be totally cool...

RL

[WCGreen]

112. Keep us posted.... I'll be there.....

[Mutley]

53. If I have plenty of advance notice then yes!

Wisconsin is pretty damn far away from me. :P

[RetroLounge]

97. You got it.

:)

RL

[progmom]

70. i'd come for that.

:hi:

[RetroLounge]

98. I would hope so.

and bring JJ too...

:hi:

RL

[no name no slogan]

100. I would drive over from MN for that

that looks like a great location-- everything sounds very very promising. Sounds like you've gotten some good advice, too, so you're off on the right foot.

Best of luck in your new (ad)venture! :toast:

[RetroLounge]

104. You better not come over here

without your better half with you :D

:hi:

RL

[eyesroll]

17. Dammit, I used to live within walking distance.

(assuming I'm correctly placing the building -- if I am, that'll be a great location!)

You couldn't do this in Bay View instead? ;-)

Good luck!

[RetroLounge]

22. I was waiting for you.

Yes, that's the building you are thinking of.

Bayview has Schwartz and Broad Vocabulary already.

This location is totally underserved. No bookstores in River West, Brady Street, Brewers Hill, and the only east side one is way over on Downer.

RL

[eyesroll]

27. Just messin' with ya.

You're right, that's a very underserved area, and you'll get a lot of foot traffic.

I'll be sure to head up there when you're open.

[RetroLounge]

33. We'll have a DU meetup.

I may even let Hedges come over...

RL

[lizziegrace]

19. I'm hoping this goes your way

What a terrific building! Be sure there's a small stage and you play occasionally, okay?

Need a business manager? I'm in the market.

:hug: to RL and your dreams.

[RetroLounge]

23. It is a former Punk Rock Club

We are keeping the stage as part of the Children's Book Section.

:hug:

RL

[lizziegrace]

26. This dream has made me smile for the first time in a few days

I'm so excited for you and your business partner.

:toast:

[RetroLounge]

29. The owner has every poster for every gig

he put on there from the late 70's and 80's. (He's owned it for over 30 years).

We are planning on taking the bast ones and blowing them up into large wall poster to display a bit of the building's history.

RL

[KitchenWitch]

20. Best vibes for you in this venture

Sounds great!

[RetroLounge]

24. Thanks!

Stop in and visit us in the near future...

:hi:

RL

[KitchenWitch]

37. I most certainly will

I make it to Milwaukee at least twice a year (until I move to California).

[seemunkee]

21. Sweet

Good luck to you. Sounds like you did your homework.

[RetroLounge]

25. Thanks

Lots more to do...

But the process has been a blast...

RL

[Maru Kitteh]

28. freakin beautiful building!

I hope it's o.k. if I pray for you.

May this be the new door to a life better than you hoped for. Knock 'em dead! Get PLENTY OF SLEEP and don't overdo the caffine, it will just make you more nervous.

[RetroLounge]

30. Pray away, I have been...

Can't hurt...

:hi:

RL

[Misunderestimator]

32. Ohh... Very nice digs.

Keeping a good thought for you in this endeavor. :thumbsup: Very nice.

[RetroLounge]

35. Thanks!

:hi:

RL

[CaliforniaPeggy]

34. My dear RetroLounge........

Break a leg, baby!

You can do this! I am pulling for you.....

There's NOTHING like a dream to keep you sane.....

And if I EVAH find myself in Milwaukee......I'll be there! :woohoo:

[RetroLounge]

36. I'll be expecting you...

:hug:

RL

[0007]

39. How many square feet are you planning on?

And your rent is how much?

[RetroLounge]

58. 3600 Square feet total including cafe

Rent is being negotiated still...

RL

[Blue Diadem]

40. Beautiful building! Wonderful plan!

It sounds like a great location.

Best of luck RL. I'll be saying a prayer and holding good thoughts for you.

[RetroLounge]

59. Thanks!

:hi:

RL

[GOPisEvil]

41. First off, good luck!!

Second, that place needs a big-ass window stat! I love the looks of it, but you need a display window.

Third, GOOD LUCK!!

[RetroLounge]

60. The other side has huge windows

Thanks for the luck...

RL

[RevCheesehead]

42. Do you have a name picked out?

Might I suggest "RetroLounge"? :)

You *KNOW* I'll be there!! :loveya:

[RetroLounge]

61. Yes, we have a name

but until it's registered, I am not going public with it.

Check your PM

:hug:

RL

[barb162]

43. well, the best of luck to you!

[RetroLounge]

72. Thanks!

:hug:

RL

[Oeditpus Rex]

44. Half a million?

So, like your average Kollyforniya home loan? :shrug:

Not a problem. Hey, you might even get a free toaster.









Okay, maybe not a toaster...

[RetroLounge]

73. The toaster I can do without

The money, well...

:hi:

RL

[yvr girl]

45. Exciting Times

I'll have my fingers crossed for you. Let me know how it goes.

[RetroLounge]

62. People will wonder

why we have a huge section of travel books about Vancouver :D

RL

[WCGreen]

46. Best of Luck, dude.....

And if you don't get the cash from the banks....

Look to a more creative way...

Raise money through stock.....

Or blend....

Investors and loans....

[Tom Yossarian Joad]

48. Wow... That's always been one of my dreams...

A rare book store for me...

Beautiful building!

I hope all goes well!

[RetroLounge]

95. Thanks!

I love Rare books too, but the rare book stores in town have shut down...

RL

[Strangefire]

49. So neat!

I live in Waukesha, and I will *gladly* shop at your bookstore, if I can find it. Hehe :)

[u4ic]

50. Welcome to DU!

:toast:

[RetroLounge]

74. Oh, I'll draw you a map if necessary

or even come pick you up.

Welcome to DU!

RL

[u4ic]

51. Sending lucky vibes to you, RetroLounge!

Here's hoping it's the start of a new life for you...:bounce:

[RetroLounge]

75. Thanks!

:bounce:

:hi:

RL

[Jazz2006]

52. Awesome building....

And all the best of luck to you, RL!!

(I don't have a good luck smiley but if I did, I'd insert it here!)

:toast:

[RetroLounge]

76. It is a cool building...

It spoke to us as we drove by and saw the sign. It has drawn us back repeatedly. It needs us...

RL

[Mojambo]

54. Make sure you jump around like a monkey and scream "Deal!" "No Deal!"

I understand that is how these things are done nowadays.

[RetroLounge]

77. We've been practicing the Monkey Jump

Got it down pat...

:rofl:

RL

[Starbucks Anarchist]

55. Good luck to you, RetroLounge!

:toast:

[RetroLounge]

78. Thanks!

You gotta come on by and get our coffee instead of that Corporate stuff... :D

RL

[Robbie Michaels]

56. Independent bookstore?

Right on! I hope you get the loan and do well.

You never know...I, and a few other DUers might have a book published one day and we'll be begging you to carry a few copies.

[RetroLounge]

79. We would be glad to carry it

We will be supporting small press publications...

:hi:

RL

[IsIt1984Yet]

57. Is that the corner of

Humboldt and North?

[RetroLounge]

80. ...

:D

RL

[IsIt1984Yet]

122. I recognized the Jewel.

Excellent and congrats and good luck and stuff! :hi:

[RetroLounge]

123. So then you will stop on by some time?

and Welcome to DU!

RL

[Call Me Wesley]

63. I like that building.

Will definitely be a bookstore! Good vibes flowing for that. :hi:

[RetroLounge]

82. Thanks CMW!

A bit for for you to come visit, but we'll gladly ship...

RL

[wildhorses]

64. how cool is that??? Go for it, I say...

and trust me I have had some failed businesses but, for what I learned and the experiences I have had were worth it, even the bad times (on my good days I can say that)
Best of Luck and powerful vibes headed in your direction
:hi:

[RetroLounge]

83. You can buy all your poetry books from us!

We deliver...

:hi:

RL

[CanuckAmok]

65. Good luck!!

Yeesh, that's-a spicy meat-a-ball-a!

[RetroLounge]

84. Thanks!

:hi:

RL

[Callalily]

66. I'm so excited for you RL!!!!!!!!

And of course wishing you the best of luck. Bookstores are my favorite haunts. My very favorite bookstore has been open since 1896! Yes, 110 years . . . so I predict that you're going to be in the book business a long time!

Your building looks fantastic, and you and your partners have certainly done your homework! And the outdoor venue would certainly be an added bonus!

[RetroLounge]

85. Well, you will have to come down for the DU Meetup

and I'll buy you a cup of coffee...

:hug:

RL

[Rosie1223]

67. Good Luck Retro

I love small bookstores. Let us know when the grand opening is!

[RetroLounge]

86. Definitely will do that!

:hi:

RL

[Nicholas D Wolfwood]

68. I read about your location downthread

Seriously, you don't need my luck, but I'm going to give it to you anyway! :toast: :toast: :toast:

[RetroLounge]

87. ...

:toast::toast::toast:

Thanks!

RL

[fight4my3sons]

69. Best of luck! What a great idea!

[RetroLounge]

88. Thanks!

:hi:

RL

[progmom]

71. I can't tell you how impressed I am with this.

I'm awestruck. Congratulations on a brilliant plan, and good luck!! :hug:

[RetroLounge]

89. Thanks!

You know that we will be streaming your show into the store when we are open!

This building was also a Jazz club at one point in it's life. And the 1890 Band Stand is still there on the third floor, as is the original maple dance floor under the carpet.

:hug:

RL

[Kazak]

81. 'Best of luck!!

My best friend & I always had dreams of opening a record store in our city. We never got as far as you apparently have. 'Hope it all works out for ya!

Cheers!
:toast:

[RetroLounge]

90. My two dreams were a record store or a book store

My friend now owns 3 record stores, so I don't want to compete with him, so the book store is it!

RL

[Whoa_Nelly]

91. Excellent! And best of luck to you and your partner! Also...

Here's a link to an extremely popular and successful bookstore in Arizona. They use old grocery store space to create one of the most awesome new and used book, magazine, music and other items buy/exchange for in-store purchase.

Just thought you might be interested in checking it out :hi:

http://www.bookmans.com/PublicSite/home.aspx

[RetroLounge]

93. Thanks!

My partner totally rocks, and she was instrumental in beginning this whole journey, and is busting her butt working on it while I go to my day job. We were up until 1am working on stuff for the bank.

Someday I'll sleep, hopefully above my bookstore.

:hi:

RL

[underpants]

92. Do you have any idea how many lottery tickets you can get with that

kind of money??

Good luck

[RetroLounge]

94. Hmmmm...

500,000?

RL

[underpants]

99. Make sure you tell them how good at math you are

:bounce:

[RetroLounge]

102. I can add real goodly

and I've multiplied twice...

RL

[auntAgonist]

101. best of luck to you and your partner!

I hope your dream is realized and success is yours for many years to come.


"break a leg"

aA
:grouphug:

[RetroLounge]

110. Thanks!

:hug:

RL

[book lady]

103. All my best wishes in your endeavor...

I thought I recognized the high rise senior building in the background...Have you thought about credit unions as a possible financial source.

Best of Luck!!

[RetroLounge]

109. We'll be checking into many sources

We are going for an SBA guaranteed loan...

RL

[tigereye]

105. that's so cool!

maybe there are some venture capital guys who could help you out. Have you heard about The Sprout Fund? Not sure if they operate in your area, but might be worth a look, or other orgs. that help out small community oriented businesses.

:thumbsup: Beautiful building, BTW.

[RetroLounge]

108. The Sprout Fund?

I'll check into it, thanks!

:hug:

RL

[tigereye]

113. I know that they have put a lot of money into events and

projects around here (Western PA) - wouldn't hurt to check it out. You never know.

[RetroLounge]

115. They only do Pittsburgh area stuff

from what I can see. They look pretty cool...

:hi:

RL

[tigereye]

121. oh well, maybe there is someone else like that out there

:hi: wish you luck with the bankers! I envy you, opening a bookstore has been one of my fantasies for a long time. With your book and poetry knowledge ( and friendly nature!) I think you would do well.

[ScreamingMeemie]

106. OMG, Retro!!! That would be so Cooool!!! Here's the odd thing...

I KNOW THAT BUILDING. I remember my father taking me there when I was a little girl! :bounce: He worked for Schlitz and used to take me on historical beer related tours!!! That is so wild!!! You have to get that loan. I can't wait to visit and buy tons of books from you next time I am back home!


Is that on North Ave.? If I remember correctly.


Here's to getting the loan...for the both of you! :hug:

[RetroLounge]

107. Yes, that is the building.

Look forward to meeting you when you come up...

:hi:

RL

[MissB]

111. If you do open the bookstore

will it be strictly new books or a mixture of new and used or just used? :applause: Best of luck to you!

[RetroLounge]

116. Mixture of new and used

It will be a general bookstore with several specific niche areas:

Childrens, new age, spiritual, recovery, metaphysical, Poetry, graphic novels and small press stuff.

RL

[MissB]

120. If you do open it, I bet you'd get offers of books from DUers shelves.

I'd be happy to mail some off to you. :)

[RetroLounge]

124. Oooh, that would be very nice.

and each book would have a sticker with DU's web address, a little cross-advertising...

:D

RL

[LSK]

114. good luck to you, dont let that amount of $ scare you

[RetroLounge]

117. Not scared...

too much :scared:

:hi:

RL

[LaraMN]

118. Good luck, good luck, good luck!

I can only imagine how thrilling it would be to realize a dream like that! I hope it all goes as smooth as cream, and the small-business gods smile upon you. :-)

[RetroLounge]

125. Thanks

and I hope you don't get pulled over again for being so darn cute...

RL

[joneschick]

119. that is soooooo exciting!

I will be holding all good thoughts for you. It would be a huge undertaking, but you and your partner have obviously put a great deal of work and thought into the enterprise already. I can't wait to hang out and leave some of our book budget at you store. Get some rest and go for it!:bounce:

[RetroLounge]

126. Thanks!

Look forward to buying you a cup of coffee :hi:

RL

[AlCzervik]

127. i wish you best of luck and lots of business!

i would love to some day have a small B & B, failing that a pub.

[auntAgonist]

128. How did it go at the bank?

I know you probably didn't get an answer yet, but how did the meeting go? Was the banker receptive? Are you encouraged?

:hug:
aA