There is more than one way to renovate your retail business and a merchant cash advance gives you the flexibility to make the improvements you see fit.  With online purchases starting to dominate the retail world, small businesses not only need to explore digital means, they need to make the in-store customer experience remarkable.  Renovations worth investing in include:

Interior

Making sure the inside of your store provides an inviting atmosphere for your clients is key to keeping them in your establishment and spending money.  Not only should you focus on comfort, you should also create a theme or vibe that conveys the message of your company.  A clean and updated interior can go a long way in establishing and maintaining a great image for your store.

Storefront

Having an updated storefront will go a long way towards making a good first impression on potential customers.  A well-organized storefront that conveys the feeling of a legitimate, thriving business can draw clients in on its own.

Equipment

Depending on the type of business you run, updating your equipment could lead to a significant return on investment.  Upgrading to more energy efficient equipment can save you money on electricity and water.  Also, incorporating eco-friendly solutions can improve your reputation with customers and your community, which can drive business from environmentally conscience consumers.

Ecommerce

In an increasingly digital retail landscape, small business owners need to take advantage of eCommerce solutions to maintain a consistent revenue stream and continue to grow.  With large online retailers cornering the market, specialty retail store owners need to make their products more easily available.  Even if you have a superior product, a prospective customer may purchase an inferior and possibly more expensive item instead due to the convenience of online shopping.

Marketing

Marketing drives sales and is a great use of a merchant cash advance.  Today’s online strategies can be complex but are extremely effective.  Traditional tactics such as direct mail, print ads and word of mouth still work, but need to be supplemented with digital means.  Hiring an agency to run your campaigns will ensure you get the most of out of your marketing budget. 

Signage

It may seem silly but having a sign that stands out to customers is important in driving business.  It provides relatively inexpensive advertising and ensures your business will be noticed by people passing by.  Depending on the look and feel you’re going for, you may consider adding lights and neon to help draw attention to your business.

Inventory

Inventory is where you make your money.  Sometimes having the ability to buy in bulk can provide significant savings.  Expanding your selection can also improve the bottom line and diversify the selections your customers have to choose from.

New Locations

If you’re looking to make a major investment and truly expand, adding an additional location is an ideal avenue.  If you have a successful business that is creating consistent revenue, it may be time to look into purchasing a new building.

Staffing

With customer service being so important to consumers these days, adding additional staff to ensure your customer’s needs are met may be a good idea.  Making sure you have adequate staff to serve your client base is essential in developing repeat customers.

Point of Sale System

If your company isn’t set up to accept credit and debit cards, you’re leaving a significant amount of revenue on the table.  Many consumers prefer to pay with a card, and there are some that don’t even carry cash.  The last thing you want is for an interested customer to walk out the door because you don’t accept their form of payment.

Emergency Needs

Many businesses suffer through growing pains and sometimes unexpected expenses arise when there is no back-up plan in place.  Having a reliable source of fast funding to ensure these situations don’t cripple your business will help you sleep better at night.

Allowing your store or business plan to become outdated can spell disaster for specialty retail shops.  Being a proactive owner by addressing your areas of need before they become detrimental to your business and constantly taking steps to move your company forward will determine your level of success.  A merchant cash advance from Quikstone Capital can help you renovate your retail business the way you see fit.