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National Pizza Day: How Your Pizza Restaurant Can Use Financing
February 09, 2018
National-Pizza-Day

National Pizza Day: How Your Pizza Restaurant Can Use Financing

February 09, 2018
Happy National Pizza Day! If you own a pizza shop, you likely know that to be successful you must invest in a variety of areas. Unfortunately, it can be challenging to afford these costs. That’s why many restaurant owners seek additional working capital, like business loans.

Once you’ve acquired financing, it’s important to decide on how to use it. In this post, we’ll provide four ideas for you to consider, so that your pizza shop can be the most popular spot in town!

Business Ideas in Honor of National Pizza Day

Invest in a bigger space

When customers visit your pizza shop, they might want to sit and enjoy their food. If your space is too small, they could take their business elsewhere. Therefore, you could use your additional business financing to expand your existing space, or move to a larger location. Although expansion projects can be costly and time consuming, they can ultimately lead to increased sales in the long-term. That’s why you should contemplate expanding when you acquire business financing.

Expand your menu

Even if your pizza shop has items that are considered customer favorites, it never hurts to add new options for them to try. Take advantage of the business financing you’ve received by purchasing ingredients needed to introduce some new menu options. You could offer more types of pizza, or expand into new markets by offering salads, pasta, dessert, or other types of food. Hopefully, an updated menu will translate into more loyal customers!

Hire more employees

If business is booming, it might be time to grow your team. Don’t risk losing customers by being understaffed. If wait times for food or tables are long, they might lose interest and decide to visit a different pizza place instead. With your business financing, recruit more employees so that every aspect of your pizza shop is covered. You won’t regret investing in your staff, since it will likely improve the overall productivity of your operations.

Increase marketing

It’s important to generate more business for your pizza shop. Even if you’re receiving business from consistent customers, you shouldn’t get complacent. To accomplish this, use your additional funds to increase marketing initiatives. For instance, you could pay for sponsored social posts, print advertisements, or direct mail pieces. Whatever you decide, ensure that you’re monitoring the success that each initiative has. If a marketing plan isn’t bringing in business, use your financing for other ideas.

Next Steps

Running a pizza shop can be a rewarding entrepreneurial venture, but it’s imperative that you spend your business finances wisely. After receiving a loan, you can develop areas of your operations that might be lacking. Whether your pizza shop is understaffed or needs a menu makeover, additional financing can help!

We hope that these tips inspired you, so that you can start thinking of ways to grow your business on National Pizza Day.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Yahoo Gemini