Mike Dean Local Grocer
This family owned and operated grocery supermarket is one of the few remaining that are independently owned. Along with this store that’s located in Sharbot Lake the Dean family also own stores in Chesterville and Bourget and also through their warehouse provides grocery and logistics service to Canada’s far north. Because they don’t have to deal with a middle man, they are able to offer many unique and distinctly local product lines to their customers.
How We Helped
Traditionally, grocery stores that are not in the urban core need a loan to the value of 55%. They are one of only a handful of like businesses in the country and don’t fit into the typical banking model – not a franchise, not a small business, yet not a large business either. There was a gap in funding to purchase and operate the store they were looking to acquire in Sharbot Lake. This is where the Frontenac Business Services came in. We were able to provide them with the working capital so that they could expand into the Sharbot Lake market. This loan enabled them to maintain 15 full-time and 10 part-time jobs and to ensure that this area still had a grocery store to service their needs.
Today, the business is doing well. In 2015, they reorganized to focus the businesses exclusively on serving distinctly rural areas and their central warehouse. They adjusted their business model from a focus on price and large-volume selling to differentiating themselves as the place to get Ontario products.
In 2019, they made the decision to form a joint venture an existing delivery company that provides online delivery to Northern Canada which grew their volume. The timing was great and allowed them to be agile to the changing market demands brought about by Covid-19.
The Sharbot Lake store has solid year round business that has been well received by community and the seasonal summer business push “makes it a fun place to do business”