3 More Great Ideas For How To Put Funding Towards Your Eatery’s Growth

In our last blog, we highlighted a number of ways that restaurant owners could utilize their merchant cash advances. We suggested they upgrade their kitchen equipment, expand their menus and renovate their dining areas. One of the greatest aspects of a merchant cash advance is that it allows business owners to do whatever they want with the funding. Unlike with a business loan, there is no requirement to report how the funds will be allocated.

Are you a restaurant owner who wants to grow your business? Here are three more great ideas for how to put funding towards your eatery’s growth:

1. Step up your marketing game.

It truly doesn’t matter what industry you’re in. If you don’t effectively advertise your brand, the buying public isn’t bound to support it. Use your financing to spread the word about your eatery. It may be wise to hire a marketing expert or agency to ensure that your campaigns are both targeted and effective. Consider launching a new special that offers discounts to groups that visit your establishment. The possibilities are endless if you come up with the right marketing plan.

“A simple but strategic marketing plan can help you identify your ideal guests, set concrete goals, allocate resources wisely, and create campaigns that get results,” says OpenTable, “Do some market research. Start with a clear-eyed look at your competition. This will help you identify your target audience, understand their wants, and create marketing messages that resonate authentically with them.”

2. Upgrade your restaurant’s technology.

Technology is always updating. Is the tech being used at your eatery up to date? For example, what type of payment terminals are you using to accept payments? There are revolutionary wireless point-of-sale terminals on the market that make paying at the table easier than ever. Do you have your menu online? Investing in an online ordering system can significantly grow your sales. With a QR code placed on all your marketing materials, you can begin accepting orders from just about anywhere your customers happen to be!

“If you wish to stand out from your competitors, you should consider going the online route,” encourages Priority Pay, “An online menu can help you capture more orders than your competitors, maximize your table turnover rates and help you start partnerships with other restaurants.”

3. Invest in training.

No matter how delicious your eats are, people won’t visit your establishment if it doesn’t provide an enjoyable time. Are your staff members greeting everyone with a smile? Do your staff members demonstrate a strong knowledge of each menu item? Put your funding towards a new training program. Well-trained staff can deliver better dining experiences. They will be able to generate higher customer satisfaction and, as a result, increased tips!

“Trained employees will be better able to ‘sell’ to customers,” attests ChefWorks, “When they are well educated on the restaurant’s ingredients, cooking style, concept, and the story behind the chefs and establishment, they can offer a more comprehensive experience for the customer, making them feel as if they are in good, trusted hands. Ultimately, the customer is more willing to go for what the server proposes, and may end up spending more money, thus improving sales.”

Let’s discuss funding for your restaurant!

With Synergy Merchant’s unique merchant cash advance program, you can often get the cash you need within 24 hours! Please don’t hesitate to call us at 1-877-718-2026 or email us at info@synergymerchants.com. You can also apply online for a free, no obligation quote!