Merchant Cash Advance Blog

Liquor store owners get an earful from oenophiles who dream of stocking shelf after shelf with hard-to-find vintage wine; they listen patiently while craft beer enthusiasts estimate aloud the square footage they would need to refrigerate all the rare ales they would stock. But in a real-life store, even when business is booming, it doesn't look like those customer daydreams. There is payroll to process, a license to renew, and the challenge of stocking what will appeal to loyal specialty liquor enthusiasts as well as the masses. Non-owners imagine this to be the fun part: tasting liquors, choosing mixers, getting first crack at new brands of fine spirits. In reality, smart buying involves complex data and demographic analysis, and calls for store owners to have access to fast funding.  The most successful liquor store owners keep their fingers on the pulse of entertaining and dining trends in their area as well as changes in beverage tastes nationwide. They plan strategically for annual events - big beer orders before football season and liqueurs for the winter holidays all while also being able to move quickly when an unexpected purchase opportunity is presented.

The goal of business is to make a profit. Many small businesses fail at this because they don’t know how to price their products or services, but pricing is the critical element to achieving a profit, a factor that all firms can control. If you’re a startup or are revisiting your pricing strategy, here are some suggestions from industry experts and small business owners to help you get the price right.

Food delivery is big business and many small business owners have adapted to incorporate a delivery only “ghost” restaurant model.  These establishments are maintaining a solid footing in some of the biggest cities in America.  “A study conducted by the turkey company Butterball discovered the average American spends almost $1,100 on takeout/delivery each year. That ends up being about $21 spent weekly. It also found the one in four people order food online at least once a week” – aol.com.  With such a large market and the obvious benefits of not having a physical store front is this the future of the American restaurant?  Not only does this model cater to the fast paced American lifestyle, it provides a fiscally responsible avenue for aspiring restaurateurs to establish their brand and put their talents on display.

Staffing your small business is an ongoing and sometimes arduous task for owners.  How the staff of a business works to complete all the tasks required to run it is the most important aspect to success. When employees do their jobs well, the business runs well, makes a profit, and continues to provide jobs for the employees. Attracting quality employees can be difficult for small businesses. Their budgets may not allow them to pay more than the competition or offer the same types of benefits. There are some things you can do to give yourself an advantage, especially with some cash to get you started.

Keeping pace with the competition and bringing exposure to your brand is a constant challenge for small business owners in the bakery industry.   In a business that runs on quality and creativity you should always be looking for ways to innovate and remain unique.  Here we’ve compiled seven ways to keep your bakery on the rise.