Bob Garrett has worked in the tire industry for over forty years, and for most of his career worked at a major retail outfitter. Over time, Bob noticed that customer care wasn’t what it used to be, and knew that with his knowledge, expertise, and reputation, he could successfully open his own shop and serve his clients in a way he felt proud of. Bob’s wife, Carole, believed in his mission too and decided to leave her 25-year career in the legal field to open Necessary Tires, a retail tire shop in Kennebunk, Maine, where they always put the customer first.
Initial Need for Capital
Necessary Tires officially opened its doors in October 2019. While Bob had a fantastic reputation throughout the state, it still took some time to get his name out there. After only five months of operation, COVID significantly slowed this process. As a result, they needed additional working capital to continue moving forward with inventory, overhead, and other operating expenses.
Why Capital Funds
After quite a bit of research, Bob was introduced to Capital Funds. Capital Funds was willing to partner with them as a relatively new business and provide working capital quickly and efficiently. Once the business overcame the COVID setback and sales began to pick up again, Bob and Carole returned to Capital Funds with a new dream—expanding their operations.
Bob had previously built a large customer base stretching from Southern Maine all the way to the Canadian border, and he wanted to be able to serve more of this community. With the help of Capital Funds, they were able to maintain their Kennebunk location while opening a second store in Gardiner, Maine, called “Necessary Tires TOO.” They proudly opened their doors in October 2023 and are now working on their next project: opening a wholesale shop servicing semi-trucks next to their Gardiner location.
Throughout their growth and expansion, Bob and Carole have maintained their customer-first approach in everything they do, going above and beyond for every customer who walks through their doors. They believed wholeheartedly in the success of their business from the very beginning, and they’re grateful that Capital Funds believed in them too.
Interested in learning more about how Capital Funds can help your business? Check out our product or submit your application today. Still have questions? Give us a call at 888-244-9099 or email us at info@capitalfunds.com. Our team is available Monday through Friday from 9 AM to 6 PM EST.