Hoops, Hoops and more Hoops!

It seems like the hoops that we have to jump through to get the business are never ending! It seems like every time we get situated another issue pops up. I guess I better get used to it because that is what business is all about. It is looking like we should be able to close seconds before the Christmas. We didn't get Thanksgiving sales but HOPEFULLY we will get Christmas sales. Dad is pretty busy for Christmas so we will have to wait to get his help until the following week, which is fine. The last week of the year and we will have to establish the business and close the year out all in the same week. Then its tax time. We will also have the boys and the dogs. The Kennel does have a house on the property that we are buying as well, however, we do not get to move into it until after the two week that the seller will be training us, so we will be living inside the kennel. Oh well, we are used to living in transit; out of suit cases and on air mattresses. Regardless, it will be wonderful to have the family together and the house and business purchased. Only took 5 months.

Loan Trouble

Well, we are approved for our business loan, however, we now need to get a home mortgage as well. Since the real estate is two separate parcels we have to get two separate loans. No issues with the business loan but the home mortgage is a completely different story. They can't use my income from the business and they can't include our rental income from our second rental property because neither are on our taxes. We are trying to work through the issues but it is all up in the air now. If one falls through the whole thing falls through.

Purchase Update

Just a little update on the purchase of the existing kennel. We are still working on all of the paperwork. We are making a trip down to Indy on Thursday to go see the lawyer, banker, and have the inspection done. Busy day...

Last time I went down I was waiting for JC to be released so I had a lot of down time. I went around and visited with the local shelters and guess what I found... You'll never guess it... ok, maybe it is an easy guess, yes I found a dog that I really really like. Of course we really cannot have any more pets right now so we are hoping that she is still there next month. Regardless the shelters seemed to be very receptive. I think that I can help local animals and I really do feel that the shelters need the help and will appreciate it.

That is all that I have for now.
Heather

Counter # 3

Well, I was right we did get another counter offer that we also countered. So, we are on counter # 4 now and the deadline for the seller to respond is Monday. Our broker had a very good conversation with the sellers broker and they have agreed to split the commission. Which is a good thing because there is no need to pay two broker fees for one transaction and I feel very strongly about that. So, it sounds to me like we will either get an accepted offer on Monday or a counter that we can accept. My "accepted offer by Monday" goal just might be reachable.

Heather

Counter the Counter Offer

Well, this morning we countered the counter offer that we received from the seller. So, tomorrow we can hopefully accept an offer, but my best guess is that we will be sending another counter offer. This is too much waiting for me... I HATE waiting with the passion, I always have. So, that is where we sit as far as the business goes. It is good that we are at least negotiating but sucks to wait.

Dad and I have decided that we are pretty close to idea overload and we need to purchase something so that we can get all these ideas out.

Bad News... Or Is It Good News

On Wednesday morning our broker called to tell me that someone else had put in an offer and that we better put in a good offer. So, of course I was all stressed out the whole day. I did a little more looking online to see if another kennel might be for sale. There is another one but it was a really small one and it is in central Indy with no land. So, it really does not fit what we are looking for, however, it could be a stepping stone if we hit a brick wall with every other option that we have.


I requested to see a kennel on the south side of Indy a while back and was denied due to not having enough start up cash. Well for one you can move money around the right way and not need that much to start up, but we were looking at the north side property pretty heavily so it wasn't an issue at the time. I again requested to go see the property telling our broker that we now know that I can get financing and also that we have a little more cash options via family. Our broker was having an issue with contacting the listing agent and we did not know if we could see it or not.


We were going to leave around 4 am rather than 2 am like we had been on previous trips, but with all of this new information we decided we better leave at 2 am like we normally do. We had an appointment with the SBDC at noon, so we knew that we were going to have plenty of time prior to that to, hopefully, see the other property. Our broker finally was able to contact the listing agent and get all of the information on the property as well as set up an appointment to go see the property that afternoon. Well, I had my fertility appointment at 3:45 pm and so I decided I better cancel it so we could go see this property. So, our fertility is on hold, but that is ok because JC comes home very soon and we can go together.


The appointment with the Small Business Development Center (SBDC) went really well and I do plan to stay in touch and use them whenever I need to. They were very friendly and also shared the same passion for animals as I do. They also offer a very neutral answer to questions as they have no benefit to my decisions. I suspect that we will be in touch.


Then on to the next property. Dad and I actually really did like the property, however, the cash flow was not as good as the north side property. Dad and I are very good with moving numbers around so we could find a way to make it work if we needed too.


Then we met at the broker's office to get an offer together for the north side property. We offered what they were asking for the business and then we offered what we thought the land was worth.


The next morning our broker calls and says that apparently the other offer was substantially higher so we were told no. Of course it was horrible, but at the same time the south property was really nice. So, if we can finagle it to make the numbers work then it is actually a better option for us. So, dad and I had to completely rearrange our thinking and see what we could come up with. Dad came up with an option that would be very beneficial to both sides. so, now we are going to put together an offer via e-mail with our broker and hopefully have that in by tomorrow or Tuesday.


Wish us luck... AGAIN!!!!!!


Heather

The Ball is Rolling...

Trip number two to the Indy area. It was a very busy and productive day. We met with our business broker at 9:30 am for breakfast. Then from there we were off to talk to the banks. We had two banks lined up to speak with. The first bank was Wells Fargo in the downtown area. I have to say that I was very impressed with this business banker. He was very professional and seemed to be a genuinely good person. It went so well that I felt bad for going to the second appointment... and late at that. My dad informed me that we should have the second bank on the back burner just in case the first one fell through for some reason. He is right, so we did go to the second bank, which was Huntington National Bank and this was going to be our second meeting. It also went well, but it was clear that they were not going to even come close to the offer we had received earlier from Wells Fargo. It was a much shorter meeting and then we were off to see the property.


This is my dad's second time seeing this location and my first. I was very impressed with the current owners and the facility it's self. It is definitely a smaller facility with so much room to grow. It will take a bit to get to where I want to be but there is nothing but possibilities that surround this location. It is absolutely perfect and it just gets better and better the more I think about it and the farther along that we get.


We did not expect to get such a wonderful response from the first bank, but we did and so off we go on this wild ride that leads to small business ownership.

Passion for Finance + Passion for Animals = Successful Business

I have worked in the field of finance my entire working career. I have had several pets throughout my entire life. The time has come for me to combine the two things in life that make me who I am. I lay awake at night planning an entire business from the ground up. I wake up the next day wondering why I am still working for someone else. My father tells me over and over how I should be my own boss. Of course my father’s visions are much smaller than mine. His idea of being his own boss is to work just enough to provide sufficient funds to support his very simple life style. He is happy in this life and is by no means lacking quality or quantity. I, however, have dreams of building something that people across the Nation will talk about. So, while starting out small may be the best way to start, it is just that… the start.

I want to build a doggie daycare that provides pet parents with quality pet care that their pets dream about. Our staff will provide love and attention to dogs while they play in a safe area where they can run and play with other dogs. My vision is not only a place for dogs but a place for pet families to enjoy walks in the dog park as well as a place for kids to play while parents relax on a bench in the shade. I want to build a one stop shop for pets of all kinds. Someday I want to include a veterinary clinic, pet store and possibly even an animal shelter. It is important to me that all pets are always loved and always cared for… this is my DREAM.

Heather