When Susan Wangler and her husband bought a local restaurant in West Branch, they needed assistance with the acquisition process. The Wanglers had many dreams to revitalize the business, so not only did they need to gather the necessary financing, but create a new business plan to ensure the restaurant stayed a local favorite.
Michigan SBDC consultant Micheal Nunnely stepped in to assist Susan in preparing to reopen the restaurant and acted as a support system throughout the process. He provided expert insight into writing a new business plan and creating financial projections to secure funding.
“Michael Nunnely was our saving grace. He was able to show us exactly what the bank was requiring and explained every detail needed in the business plan and projections. With his expertise we were able to purchase Wangler’s Wagon Wheel!” said Susan.
Susan was able to secure financing with the Michigan SBDC’s assistance and even acquired a liquor license to expand the restaurant’s offerings. The Wagon Wheel gained $135,000 in bank funding, $40,000 in owner’s equity and added 6 new jobs when it reopened. The restaurant is again a local favorite with a friendly atmosphere and bar.