Chris Schmidt
West Fargo, ND (USA)
Role(s):
Founder/Owner/Principal
West Fargo Car Clinic
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Startup
Location:
West Fargo
Industry:
Automotive
Year Founded:
2005
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
Limited Liability Company
Description:
We are a small auto repair shop that has been in business for 7 years. We have been showing a steady 20% growth the last few years and have outgrown our current location. We would like to build a new facility in a growing part of town where there are currently no other shops to compete with. The business is 100% out of debt at this point and could save up the money but would take a year. Saving up for a year for the down payment on this project will cost us in taxes, risk interest rates increasing, potentially limit our growth in a bigger facility, and risk someone else establishing themselves first in this new part of town.