The holidays are over, the economy is continuing its momentum and consumer confidence is growing again. With the labor market stabilizing and the rise in disposable income, restaurants can start to run all cylinders and prepare to welcome in new guests.

When an economy starts to bloom and consumers have more cash in their pockets, restaurants have to take advantage of these booming times. One way to benefit from a rising economy is to start seeking out new ways to expand or upgrade the restaurant in order to attract more hungry customers.

Offering new, trendy menu options and hiring additional staff are some of the important aspects of boosting restaurant business, but it's imperative that the company understands that its financial position is the No. 1 priority. Can it afford to enhance inventory? Can it afford to open another restaurant?

These are just some of the concepts to consider. Operating, upgrading and expanding a restaurant can be quite expensive but if your cash flows are good the short-term costs can be covered through the means of a restaurant cash advance. Such financial tools provide restaurateurs with monetary alternatives to conventional forms of borrowing business funds to carry out the aims of a café, diner or fine dining restaurant.

Here is what Krystal CEO Fred Exum told QSR Magazine in an interview about expanding a restaraunt with another location:

"Obviously, you've got to have capital. Capital is really important. Secondly, you need to be convinced as a franchisor, and a good franchisee should also be convinced, that from a managerial standpoint the operator can take all his attention and focus it on his second facility and not lose anything in his first effort. By losing anything, I mean any kind of edge or ground that he has gained in all areas, whether it's service, inventory control, cost percentages, or anything of that nature."

If you're unsure what exactly it means then here are four measures to add into a restaurant's business model:

Inventory

The inventory that a restaurant maintains is one of the surest ways to determine if that brand is going through the motions or looking at new ways to grow the business. Not only should a restaurant have a well-stocked inventory, it must also consider adding new types of ingredients: organic, all-natural, free-range and exotic spices to add that extra flavor and stand out from the competitors.

Décor

Times change, and so should a restaurant. If the restaurant was started in the 1990s and still hasn't upgraded its interior and exterior design then this could be on the to-do list for the business. Whether it's becoming energy efficient, installing sanitary furniture or applying new colors, renovating the restaurant should always be considered to create a vibrant feel and encourage a new clientele.

Wait Staff

Labor will always be the No. 1 cost for any restaurant. So why shouldn't you get the best bang for your buck? There are a few routes to take: hiring a brand new wait staff, retraining customer service techniques or shifting the staff members around. Restaurants should also look at the possibility of taking on additional wait staff, especially during peak season.

Second Location

Have you been fortunate enough to operate at an immense profit for the past decade? Well, perhaps it's time for you to start looking at launching a second location. Indeed, it will be very expensive - and come with the same level of headache - but it could be well worth it in the future. If you can mimic and duplicate your own success with a second or maybe even a third location then you are certainly doing a good thing for the economy.

Every restaurateur has to take into account financial concerns. All of the above come at a cost, and they can either serve as a tremendous boon for the company or become a burden. This is why these types of expansions and upgrades have to be meticulously researched and mulled over.

As Entrepreneur magazine writes: "Keep in mind, your final decision must always be based on verifiable business logic--not merely your desire to duplicate the success of your existing location. In other words, the numbers must be right before you decide to expand a restaurant."

Be sure to explore the alternative business funding solution offered by Quikstone Capital Solutions, and let your business grow. We’ve partnered with hundreds of restaurants like yours to make investments that will grow your business.