Renovate Your Space. It does not matter what you are selling or who you are. Customers will in fact judge the health of your small business by the looks of your store. According to an article by Quickbooks, “While remodeling your brick-and-mortar shop may be costly, it can dramatically increase the perceived value of your store merchandise and brand over time.” If you would like to justify a price increase and not have customers think twice, show them that you are different. Improve the look of your store and you will improve the perception of how much a customer is ready to spend.
Customer Appreciation. Nothing rings louder in a customer’s ears than hearing and seeing that they are valued. Whether you operate a restaurant, an auto body repair shop, or a retail store, show that you appreciate your clientele. This can be a simple setup such as a cappuccino section and water bottles or more elaborate such as gift bags or a free gift with purchase. Help remain vibrant in the minds of your customers and you will earn their loyalty.
Make a Much Needed Equipment Purchase. New equipment represents a huge expenditure which so many small businesses are unable to afford. You can use the funds from your merchant cash advance to finally buy the equipment that you have been waiting for. Improve the efficiency of your operations which will boost staff morale and should increase your net profits.
Hire Additional Staff. Are you in need of additional help at your small business? Right now with the holidays coming soon, it is the perfect time to hire and train personnel. This way they will be up and running by the time consumer shopping picks up. Advertising for new employees can be very costly but funds from a merchant cash advance can certainly ease that financial burden.
Lease Another Location. If you are operating a thriving business or you believe that the location of your current business is hindering your success, you are likely considering another location. This can be very expensive as you will have tons of costs such as leasing, new advertising, staffing, and remodeling. Time waits for no one and you need to have the funds on hand prepared for finding the perfect location. Otherwise, you may miss out on a great business opportunity.
Establish a Rainy Day Fund. It is essential to have a savings fund established in the case of emergency. You need the peace of mind that your small business can stay afloat even in the event that you have to close your doors temporarily. Is your cash flow so tight that losing a few days of sales will create a massive event or even worse force you out of business? There are many circumstances which are out of your control and an unexpected insurance liability claim, economic depression, or a competitor coming in and swiping some of your customers shouldn’t put an end to your livelihood.
