Do you think enabled erin to obtain bank financing

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Reference no: EM133376144

1. The Big Five Banks in Canada are rather conservative when lending to start-ups and even more so for those in the hospitality sector (e.g., bars, restaurants). Which factor(s) do you think enabled Erin to obtain bank financing for her new start-up?

2. In the article, Erin stated that both locations (Stout and Louis Cifer) earned a profit from Day 1.

In an industry where players earn an average net profit margin of 3.0% (as per the attached 2021 Financial Performance Data report NAICS 722410, Drinking Places), Stout and Louis Cifer were hitting net profit margins of 19% and 25% respectively. Which expense element(s) do you suppose Erin was able to minimize to reach her locations' attractive net profit margins? Explain.

Reference no: EM133376144

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