“A lot of people think that just because we have a mobile business we are not structured. That’s not true.”
Before coming to Camino Financial, Gaspar and his wife, Christina, found themselves discouraged to continue with their mobile grocery trucks business. After being in operation for 8 years, they felt they couldn’t reach their goals. Christina says: “I was about to give up the business but my husband said ‘don’t sell’. He told me we had to be patient and called a friend who is an accountant. He advised us to formalize our business. That’s when we became incorporated.”
“Formalizing our business opened the doors for us.”
“We started from the bottom, getting the licenses and getting in compliance. Formalizing our business disciplined us to start taking things more seriously, like our cash flow or our break-even point. We also learned how to control our cost and profit margins. We even got a handle on our inventory and a point of sale system to manage it.”
“I don’t think we could have even gotten the loan if we hadn’t formalized our business.”
“After getting our things in order, we realized there was an opportunity to grow our business with capital, and applied for a business loan with Camino Financial. I don’t think we could have even gotten the loan if we hadn’t formalized our business.” Gaspar adds: “a lot of people think that just because we have a mobile business we are not structured: that’s not true.”
Formalizing your business can help maximize your chances of financial and operational success. If you decide it’s time to legally form your business, let us know. We want to see you succeed!