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The restaurant business has always been an important part of Patrick and Wanderson Coelho’s lives. The two brothers grew up on Cape Cod and Wanderson, along with many other family members, worked at Oliver’s in Yarmouth Port over the years. Patrick eventually entered the corporate quick-service restaurant industry and Wanderson, who started as a prep cook at Oliver’s, went on to become the Head Chef. A few years ago, they decided to purchase Oliver’s and Planck’s Tavern and are now looking to acquire more legacy businesses on the Cape.
“With any business, there’s always this aspect of the unknown,”
“You only have one shot, so there’s a lot of pressure to get things right. As new entrepreneurs, we had a lot of things we needed to learn quickly about running a business. It was important to us to work with a bank that really understood the restaurant business and what we were trying to do –– someone who would understand that our goal was to take over Oliver’s and continue the 40-year legacy of the previous owners.”
We believe in looking beyond the numbers to understand your vision and strategy.
“I had known about Northern Bank for quite some time before we approached them,” Patrick continued. “I had worked on some Burger King franchise deals with Northern Bank as a partner. I also volunteered on a Board with someone from Northern, so when the opportunity to purchase Oliver’s came about, I immediately thought of Northern Bank first.”
“From the very beginning, it just felt right,” Patrick said. “Northern Bank’s approach, partnership and trust in our ability…they quickly understood our strategy. Every time I bring something forward to the bank, they’re like, ‘yes, we’d love to do that deal.’ There’s no hesitation like you find at other banks. Northern is different.
When they had the opportunity to purchase Lambert’s Farm Market in Sandwich, the Coelho brothers once again approached Northern Bank.
“Of course, we went back to Northern,” Patrick said. “We have every intention of continuing to build on that partnership as we expand our business. We have big aspirations for this company. Many of these well-established businesses on the Cape have been owned by the same family for decades. We don’t want these businesses to die when the owners retire. We want to continue the legacies of these traditional businesses on Cape Cod. Since we grew up here, this is something we’re really passionate about.”
“Being an entrepreneur means you not only have a responsibility to your customers, but to your community,” Patrick continued. “At Northern Bank, they get that and understand what it means to be a small, local business. That’s one of the big reasons this has been such a great partnership for us.”
The Coelho brothers have strong ties to Cape Cod and the restaurant businesses that have flourished there for decades. It’s their mission to see that these businesses can continue to provide the same experiences they’ve enjoyed since childhood to future generations to come. In addition to Oliver’s & Planck’s Tavern and Lambert’s Farm Market, Patrick and Wanderson hope to have the opportunity to take the reins of other traditional, legacy businesses that have contributed so much to the Cape Cod community.
When Jon Erickson, owner of J. Erickson Plumbing and Heating LLC, was frustrated with his experience at a “big bank”, he turned to Northern Bank for a personal relationship focused on customer service.
For Chilacates, having a partner that understands family business and shares their passion for success made all the difference.
For one business, it chose Northern Bank for its online banking and local community feel.
Contact us now to learn more about how Northern Bank can help you realize your goals and dreams.