Sometimes you need money to make money. For businesses that don't have the necessary cash flow, a merchant cash advance can provide working capital that can be used to make more money in a number of different ways.1. Sure thing equipment upgrades.
Is there a piece of equipment that could help your business make a lot more money in the same or less time? Maybe your craft brewery needs a larger capacity brewing system, or your custom sewing business needs an embroidery machine. A merchant cash advance can give you the up front money to get the equipment you need, all without the credit check that other types of financing might require.
2. To consolidate with another business.
As your business grows, you may come across an opportunity to acquire another business, which would add to your customer base. Not too many businesses have money just laying around to buy another business, which usually costs tens of thousands of dollars (at least). Merchant cash advances are perfect for this type of purchase, which can begin to make money immediately upon takeover.
3. To hire a marketing company.
Sure, there are free and cheap ways to market your business. Some of them can even be effective, but they usually take a large chunk of your time. And time spent marketing is time you can't be working on the other aspects of your business. If marketing isn't an area you enjoy or feel effective in, hiring a marketing company to take over this aspect of your business is well worth the cost.
Note: There are lots of mediocre marketing companies out there. Make sure you get a quality company by choosing one that generates ROI numbers and other reports to show you exactly how well their campaigns are working.
4. Establishing or maintaining a web presence.Hiring a professional to create a quality website for your business can cost several thousand dollars, but creating your own website will probably take you at least 100 hours, and even then, it may not look professional enough to attract new customers. 85% of consumers now use the internet to find local businesses, so having a website that attracts customers instead of detracting from your image is a must.
5. Expanding your inventory.
It's not a slam dunk that you will make more money by expanding your inventory, but it's something worth trying at least on a small scale to see if it works. Inventory is a perfect use for working capital if it's likely to sell quickly because it will provide the means to pay back a merchant cash advance.
Merchant cash advances are not loans; they are a purchase of future sales. Because they are not loans, no collateral or credit checks are needed. Additionally, turnaround time for applications is usually within a week, so you can use the money right away instead of needing to wait weeks or months for loan proceeds or the results of a crowdfunding campaign.
Quikstone Capital Solutions provides cash advances to businesses that need an infusion of working capital to get them going on the road to higher profits.
