4 Main Benefits Of Expanding Your Business

Are you looking to expand your business? In our last blog, we listed a number of reasons why you may want to consider it. They include helping your business to stay relevant and increasing the size of your customer base. It’s important, however, to consider the costs that are associated with business expansion. This is where Synergy Merchants can help you. Our merchant cash advance program provides Canadian business owners with money fast!

Unlike bank loans, merchant cash advances don’t require credit checks. A simple review of your monthly credit card and debit card sales will help to determine how much of a cash advance you’re eligible for and what it will cost you. The cost is a one-time fee as opposed to an interest rate, so you’ll never have to worry about interest accruing on the balance you owe over time. Most often, our customers are approved within 24 hours!

What you do with the money is completely up to you. And, in many cases, our customers choose to expand their businesses. There are many different ways to expand your business, of course. In our last blog, we mentioned franchising and adding to your product line as two examples. What ideas do you have to expand your business? The licensed funding specialists at Synergy Merchants would love to hear them.

But what are the main benefits of expanding your business? Here are four:

1. It will make you more money. Of course, this would be the primary objective of any decision to expand your company. And although this may take some time, over the course of time, your expansion plans will make your business a bigger entity. “Expansion does not always increase income right away, and can slightly decrease it at first,” writes Ryan Finlay on ReCraigslist.com, “As everyone settles into their new responsibilities, the business should gradually become more profitable.”

2. It will attract talented employees. People like working for success stories. “Always working to expand your product portfolio won’t just generate new business for your company; it will help you attract new talent too,” writes Robert Cordray on Business2Community.com, “The most talented people tend to flock to the most innovative companies. By continually working to design new products, you’re more likely to have the best of the best on your team.”

3. To add more value to the world. How strongly do you believe in your products and services? If you’re of the mind that they are necessities in this world of ours, you’ll gain a great deal of satisfaction in knowing that expanding your business will help others. “If you really believe in what you are doing and the service or the goods you are selling, then expansion is a natural way to add more value to the world,” says Finlay, “If what a business is producing is good, then expansion can amplify that good.”

4. It will increase customer loyalty. Customers enjoy knowing that they are doing business with a reputable brand. The more you’re able to expand it, the more confident they will feel with supporting it. “When existing customers know that your company is constantly working to develop newer and better products, they’re more likely to stick around to try them,” says Cordray, “Customer loyalty is a key ingredient to long-term business success, so your efforts will pay off in spades.”

Allow Synergy Merchants to help you expand your business! For more information on our merchant cash advance program or to speak with one of our licensed funding specialists to get a free, no obligation quote, simply call us at 1-877-718-2026 or email us at info@synergymerchants.com.