How to use a Merchant Cash Advance to Increase Restaurant Revenue
When running a restaurant, there will be times when you experience cash flow problems. Maybe you’re in a slow time of the year, and, at the same time, a major expense has arisen. This can have an impact on your goal to increase restaurant revenue, as well as your restaurant’s reputation. The solution to your problem may be a merchant cash advance.
Here’s how a merchant cash advance can help you increase your restaurant revenue.
Allows You to Renovate or Expand
If you want to redecorate your restaurant and create a better ambiance, or maybe add more tables, a merchant cash advance gives you the time out to achieve the restaurant “look” that you’ve always dreamed about.
Gives You the Funds to Purchase New Equipment
Restaurant equipment can be subject to unexpected accidents – seals fail on an oven, a spoon gets stuck in the ice cream maker. It’s possible to obtain a merchant cash advance in as little as forty-eight hours to enable you to replace your faulty equipment and keep producing good food. The ability to continually produce quality food is key in increasing your restaurant revenue.
Allows You to Try Out New Menu Items
Any restaurant needs to occasionally make changes to its menu. But, testing new dishes may be difficult as your kitchen is constantly busy, and your chef may feel he/she has no spare time to work on a new recipe. With some extra cash available, the pressure on kitchen staff can ease and time can be found to experiment.
Enables You to Update Your Drinks Selection
Wines and spirits represent a major profit center, but staying on top of what your patrons are looking for by offering top quality wines or the latest in craft beers can be expensive. A merchant cash advance may be used to enhance the drinks selection you are able to offer.
Obtaining Your Merchant Cash Advance
In many cases, small restaurant owners lack the credit or collateral to qualify for a traditional bank loan. Flipside Capital provides merchant cash advances for small businesses such as restaurants. We can help, so please give us a call today.