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Café owner Brett Wright was set to close the doors on his labour of love, after a seasonally quiet business period that resulted in cashflow problems. Fortunately for Swan Hill foodies, the small business is still thriving. Find out how Wright not only saved but grew his small business.
Melbourne-in-the-country
Wright’s High Thyme Café has quickly earned a reputation for country hospitality and creative cooking since opening in 2015. Currently ranked second on Trip Advisor, it’s among 38 restaurants in the Victorian country town.
Despite having just the owner, his mother and partner as staff, the restaurant has held its own against tough competition. The café has even outranked country clubs and larger establishments from occasion to occasion.
With reviews commenting on High Thyme’s “great character,” “delicious food” and “very friendly” staff, the café has been described as “a piece of Melbourne in the country.”
Tough times
After starting the restaurant with just $800 in savings and furnishings from home, the owner and his partner quickly built up a clientele. But when he decided to take time off in January to spend more time with his daughter, the business finances started to sour.
“It was great spending time with my daughter, but when I got back from holidays the bills were piling up, at home and for the shop. So, we decided to look for an overdraft,” Wright said.
“I spoke first to the bank that I’ve used since starting the business, but they wouldn’t give me the $5000 overdraft we sought. Instead they offered just a $3,000 limit credit card. It was pretty much the same story with all the other big banks we approached.”
“At the same time we had a massive equipment failure, and January-February is typically a quiet time in the restaurant business. We were almost ready to close the doors and walk away. But then I contacted some other lenders, including Prospa. When Prospa returned my call, I was waiting for the bomb to hit. I nearly cried when they said yes.”
Breathing space
Wright said Prospa understood better than the banks the costs involved in running a small business and having marginal profits in the early stages of operation.
“My Prospa account manager went into bat for me – he went above and beyond and was an advocate for me internally – and that made it more personal. We secured $15,000, which gave us valuable breathing space to replace equipment, pay our bills and get over a quieter period,” he said.
The café owner said he now planned to invest more on marketing and growing his business, which includes an appearance at a regional food and wine festival.
Cashflow worries? Talk to Prospa about a business loan that is tailor-made for small-business owners and tradies.
Brought to you by Anna Fitzgerald, Prospa
