x
Alumni

What ways have you used Capital to grow your business?

Hello all 👋

 

We recently published a story on our Town Square blog about a Square sellerBarroco Grill, and how an offer from Square Capital impacted business at the restaurant. Juan, the owner of Barroco Grill, shared his story on how investing in a remodel and new licensing grew business by 33% (wow!). 


I know several active members here in the community currently have or have recently received an offer from Capital. I'm curious, what types or investments have you made to grow your business using Square Capital? What specific benefits did you see in your business?

 

2,474 Views
Message 1 of 8
Report
7 REPLIES 7

@Russell

Our business, nationally recognized in our line of specialty, has a 75% online to 25% person to person sales ratio. We have been processing exclusively with Square since 2013 after over a decade with PayPal. Our first Square Capital offer I remember with distinct detail because of the overwhelming thankfulness and pride of being selected. Plans to expand our inventory right at the time we are getting to have our busy season were now coming to full fruition. The Business Rule is simple CAPITAL= Inventory/Expansion > INVENTORY/ EXPANSION= Revenue > REVENUE=Payment Processing!

 

Our first loan was paid off when what seemed like a blink! Our first year of capital offers included 3 renewal offers over that period. That year we saw significant growth. I am not sure if I am permitted to post the actual dollar amounts in this forum... but we are as of today's date 3 times over what we generated in sales in 2015.

We strive to offer outstanding merchandise and exceptional quality customer service to our clients, but revenue access and the capital program from Square have certainly played a pivotal role our growth. To date we have "capitalized" ( pardon the pun ) on 5 capital loan offers from Square and are in anticipation of receiving a new offer very soon.

 

Wishing all Sellers nothing but blessings and a bang up finish for sales year 2017 !!

2,458 Views
Message 2 of 8
Report

I am the only business of my kind that accepts Credit or Debit Cards. For this reader, I am the most convenient business in my field & I am now expanding to a second location & using Square Capital to purchase all of my business supplies & equipment.

2,332 Views
Message 3 of 8
Report
Beta Member

Square capital has been the most helpful platform in terms of growth within our company.  From our most humble beginnings of starting this company with $500.00 and many years of great determination, we were able to grow the company with residual clientel that would offer us a comfortable lifestyle without any capital lending.  Since establishing this at a young age, with great ambition and visions larger than ourselves, we opted to move to expand.  We tried to achieve our visions through the "traditional" means of resources such as banks and they could not see the vision, and was denied.  We were processing with Square and was offered Square Capital funding, we used the resources to capitalize by familiarizing ourselves with the best technical mentors within our industry.  They offered great insights on what equipment we needed to invest in, marketing techniques, and innovating products and services that we should offer to our customers, in which we went used Square Capital.  These advancements alone was able to double the income coming in within the first year.  The following Square Capital funding assisted in the expansion of our facilities and the opportunity to distribute products exclusively for our region.  We are now a six figure earning company, and have doubled our sales each year with Square Capital.  Thank you Square for offering the BEST services for small business.

2,323 Views
Message 4 of 8
Report

I started my business less than a year ago. Given the perfect location we are at, we started off with quite literally, a BANG! Our 4-season area gives many diverse activities to those who not only live here, but to those who travel to come and enjoy the mountains, the many lakes, fishing, camping, skiing, and just the all-around "great outdoors".

I did not want to go into a lot of debt to start the business up so nearly all of it was out of my own pocket. The building we got was larger than what I had originally planned, so there were some areas we hadn't opened up to the public when we first opened. When I received the Square Capital offer it was perfect timing! We have since added to our inventory, opened up more of the shop, and have seen the returns on being able to utilize that line of capital in a really short amount of time! It is difficult to say what the added capital actually boosted since we are still in our first year and given the seasonal aspects of the area, we don't have anything to compare to yet, but just having that much more inventory has been a huge boost in sales. 

My grandpa always used to say: "You can't sell anything from an empty wagon!" I suppose he is where I gain the majority of my entreprenuerial aspects and he is absolutley right; the more you have, obviously the more you are going to sell. 

We are nearly paid off on the first offer...hoping to attain another so we can expand even more!  

I was planning on taking the net proceeds to build up the inventory as we went along; Square Capital allowed me to do that in a shorter amount of time and I am very grateful to them for that!

I have more square footage to add on to and hoping to have our online store up and running as soon as we can beef up our inventory a little more!

Thank you Square Capital for the added benefits from those you already offer.

 

~Paulette Davis

Country Bliss Boutique

& Home Furnishings

2,290 Views
Message 5 of 8
Report
Square

Hi @cblisshome!

 

We really appreciate your post and are SO happy to hear about how Square Capital has provided a boost to your growing company.

 

If you become eligible for another loan through Square Capital you will be notified directly. 👏👍 Keep up the great work and thanks for sharing!

2,281 Views
Message 6 of 8
Report

I used my square capital to purchase inventory for my retail shop which was exceptionally helpful during the holiday season. I have had 5 loans up to this point and have alway been greatful for the extra funds to help my business grow. We plan to expand this year because we have been successfully growing. Square capital helped us grow and we hope it continues in to our future!

2,165 Views
Message 7 of 8
Report

Hello, My name is Ryan, and I'm the Founder of Suited.co. 

This is our Capital Story. 

When I noticed that foot traffic was fading from the busy commuter center where my store is located, I had to get creative in a big, big way. What I noticed is that my customer and demographic was being dropped off by UBER drivers so they could make their train into NYC on time. So, a little light bulb went off. What If I signed up and drove for UBER? That way I'd have a way to get to my demographic. But then I thought, how will I get their attention? I can't solicit UBER riders, but if they start a conversation with me; I can surly respond and we can chat. So, this is what we did: 

Suited is a Custom Men's Clothing company, in an affluent area of Connecticut. Let's say people are not always easily impressed. So, in-order to strike up this conversation I'm going to have to go all out. We had some capital from Square so I went out and got a Cadillac Escalade, had it outfitted with touch screens to view fabrics and a link to set up appointments. We even had the headliner upholstered in a Silk and Wool suit fabric. Needless to say, this got attention, and the riders would ask immediately; who I was, and what I did. So I told them, "I'm the founder of Suited.co and I welcome you to explore what we do on the touch screens in-front of you, and look thorugh the fabric books, I'm happy to awnser any questons for you." Most questions were more like statments. What made you think of this? It's briliant, etc...  And common... gotta admit it's a really good idea. But it would have been just an idea if we didn't have some capital help from Square. 

Oh But wait, there's more.  Since I had the first names and locations of where I picked up the riders. (Normally their homes) I would send out a $100 gift card for them to put toward their first order with us. Sales jumped by 40%. the first month of doing this. 

The one last absolutely epic benefit of this idea was that UBER paid me as well since I was an UBER Driver. That Money paid for the Gas, The Gift Cards, The Stationary, and some left over to donate to a good cause so I could give back to my community. A few local news blogs picked it up and BOOM, we have an improved client rooster and a local brand everyone around our parts knows.

More about how we did it: UBERSUITED

Anyhow that's the kind of stuff I like to create to help my company grow. We do hope the capital program will continue to offer us funds going forward so opportunities like this are achievable. 

Best, 
Ryan M. 
Founder & CEO
Suited.co


 

2,127 Views
Message 8 of 8
Report