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Margaret (or “Marge” as she’s better known) Poscher's success story is an exciting one of following your own path with grit, determination, and a little help from your local community bank. From finding a fresh start after a successful career as a physician to returning to her hometown to expand her thriving business, Margaret’s success is a testament to being open to new experiences, dreaming big, and partnering with a bank that believed in her.
With her entrepreneurial spirit and guidance from Bank Michigan, Margaret was able to grow her real estate development portfolio, transform an abandoned supermarket into a popular bar and eatery, and is set to open her biggest project, a 250-unit building in the heart of Ann Arbor.
We were able to spend some time with Marge, along with Mike Chatas, Bank Michigan’s Chief Lending Officer, to get her take on a number of questions.
Margaret’s business journey begins in California, where she enjoyed a successful career practicing medicine for over three decades. Later in her career, Margaret and her wife thought it would be wise to start investing. They decided to use Marge’s experience in real estate to start purchasing properties in Ann Arbor, Michigan.
Their choice of Ann Arbor was no accident. As Marge and her wife are both Michigan natives, they wanted to do their part to improve the community that filled them with fond memories of their childhood. They decided that Ann Arbor’s picturesque scenery and vibrant community would be a great place to root their new business.
Over the course of the next ten years, Marge and her wife worked hard to acquire and renovate homes while commuting to and from California. At first, their main interest was creating housing for the students at the University of Michigan. But they soon realized that short-term rentals were not only a more profitable venture but also gave them the opportunity to expand their portfolio at a quicker pace. So, they decided to diversify their holdings into both short-term and long-term rentals.
Once she moved back to Michigan, Marge had the time to fully commit to her thriving business. She was currently satisfied with the number of properties she owned, so she switched her focus to property management. She found that managing her own properties was not only a good cost-saving measure, but it was also a great way to create high-quality jobs in the Ann Arbor community.
With her property management operation going well, it gave Marge time to set her eyes on expansion. During her time in Ann Arbor, she noticed that a grocery store that was central to her neighborhood had gone out of business. This abandoned building piqued her interest. Soon she realized that it was in a prime location for her next business venture: a bar and restaurant.
Marge had many ideas for her new restaurant. But as it was her first venture into being a restaurateur, she wanted to take her time to develop a concept that would make both her and the community proud. She set out to find a chef who could transform her vision of high-quality food and exquisite service into a reality. After many long months of speaking with chefs and discussing menus, she finally had a stroke of luck. A well-regarded chef who owned her favorite restaurant in Ann Arbor became available. It was then that she and Chef Thad Gillies agreed to team up and create her vision for an open-concept bar and eatery: Venue by 4M
Since the opening of Venue in September 2022, business has never been better for Marge. Her restaurant and bar are enjoying rave reviews and have become one of the hottest restaurants in Ann Arbor. Her property management operation and restaurant are running smoothly, and she now manages over 90 employees. And soon she will construct her biggest project yet: an 8-story building that contains over 250 units.
Marge’s success is the perfect example of how to create a thriving business. With a lot of ambition, a little know-how, and SBA loans from Bank Michigan, anything is possible!
When starting her real estate development business, Marge worked with a small bank that provided her with loans to purchase a few small and medium-sized properties. Once her business took off, she needed to find a bank that could grow along with her business and handle larger projects. She really wanted to avoid working with a big national bank, as she much preferred working with someone that shared her interest in improving Ann Arbor. This is when she found Bank Michigan. With the guidance of our lenders, she was able to expand her business into the successful enterprise that it is today.
When Marge decided to transform a portion of her rental properties into short-term rentals, it brought on a few unexpected challenges. Being the lending officer assigned to 4M Consolidated Brands, MikeChatas took the initiative of helping Marge navigate the process.
Owning and operating a business during COVID-19 was challenging for many small and medium-sized businesses. Luckily, with the help of Bank Michigan, Marge was able to not only survive the economic conditions but also carry on full steam ahead with the development and grand opening of her bar and restaurant.
Apart from surviving the trying times of COVID-19, Marge has faced many challenges that can be typical for a first-time owner of a growing enterprise. One of these challenges involves staffing. The quick growth of her businesses has meant that the number of people she employs has ballooned from eight to over ninety in three short years. Finding the right people to represent her business and being an effective leader is something she has learned very quickly.
While 4M is in the process of tackling its largest project yet, Marge is also very happy that her other projects have grown in popularity within her community. It’s very common to see University of Michigan students eating at Venue, and just recently, over 75 neuroscience PhD recruits had dinner in the event space of the establishment. Venue has also been added to the preferred vendors list of caterers at the University of Michigan.
If you would like to learn more about Marge and 4M Consolidated Brands, you can visit their website at: https://www.experience4m.com/. If you’re in Ann Arbor, be sure to visit Venue to enjoy its diverse menus, elevated style, and friendly atmosphere.
If you’re looking for a true banking partner like Marge to help your business grow, let us know. We’d love to learn more about your goals and dreams. Contact us or visit one of our Southeast Michigan banking locations and let’s have a conversation.
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