What would you do with an extra $50,000? Take a vacation? Buy a car?
This is the question that is sometimes posed by our Funding Specialists here at Synergy Merchant Services to our clients. Now, unlike traditional financial institutions, Synergy does not actually require that clients inform us of what the plans are for their merchant cash advances. The truth is, once a business owner receives a cash advance, it is his or hers to do with as he or she pleases.
More out of a combination of curiousity and to simply spark some imaginative ideas for the growth of businesses across Canada, the question is one that is met with a countless supply of different answers.
Some business owners choose to open new locations for their stores. Sometimes, half the reason a business does so well is because of where it is located. When a store is successfull, it is often advantageous to open another one, perhaps in a more densely populated area or in a place where the products and/or services offered are well needed.
For many business owners across Canada, owning more than one branch of their business is a dream that merchant cash advances have helped to come true.
Advertising, is another popular avenue taken by clients who take advanatage of our merchant cash advance program. With the addition of ads in newspapers and other local publications, many businesses find an increase in sales an inevitability. Often, the extra capital used towards advertising comes with a special event or sale being put on by the business.
This most often occurs when new inventory is purchased and the company looks to cash in on the excitement surrounding the new products. Many owners have found that with the extra capital provided by the cash advance, affordability of new inventory in bulk becomes a lot easier.
Profit, of course, becomes the name of the game. The majority of business owners who participate in our cash advance program have profit at the forefront of their decision- making processes.
“How can I take this money being offered to me to turn it into two and three times as much in profits?” This is the real question that should be asked. The answer is up to you.