Blog posts tagged with "Restaurant Loans"

Are you a small bakery business owner that wants to out-sell your local supermarket bakery section? Perhaps you’re in the process of starting a bakery business and want to learn the ropes. Or, maybe you want to expand your menu, but aren’t sure where to start.

It isn’t a secret that entering the restaurant industry can be a risky move. In fact, per recent studies, 60 percent of restaurants fail within 5 years of opening their businesses.

Owning a successful restaurant requires numerous costs. From inventory to staffing to rent and other bills, your business can’t survive without funds to afford these consistent expenses. Because of this, many business owners in the restaurant industry turn to cash advances.

As a craft brewery owner, your job is to provide customers with a variety of beer options, helpful customer service, and an overall pleasing experience. Still, even if you’ve mastered these crucial elements, there’s always room for improvement. That’s why a small business loan can comes in handy!

To run a successful restaurant, it’s pivotal that you stay up-to-date on the latest industry trends. Plus, your role is likely extremely busy. From managing employees to purchasing inventory to providing customer service, you probably don’t have a lot of down time.

In 2017, more than 10,000 restaurants closed, leaving these small business owners with disappointment and uncertainty about the future . While it’s unclear how many restaurants fail in the first year (outlets have reports varying from 17 to 90 percent), the reality is that many new businesses fail. Due to this, small business owners must work hard to keep their doors open.

In 2008, Roy Choi sold Asian-infused tacos from his truck in Los Angeles. Although Kogi BBQ wasn’t the first food truck in American history, Choi sparked a movement that’s continuing to thrive today.

Word of mouth is the oldest, and still the most effective, way of promoting any venture. Yet with the popularity of smartphones, electronic word-of-mouth has become the primary channel that people find new businesses. Research shows that the best spokespeople aren’t celebrities or social elites. Instead, they are communities of helpful consumers who want to share their experiences with others.

When running a successful small business, there will always be room for improvement. Whether it is updating technology, purchasing new inventory, or hiring more employees, there are many ways to continually elevate your business. These initiatives will vary depending on many factors, one of them being the industry that your business is in.

Napkin? Check. Fork? Check. Perfectly filtered photo with a witty caption? Check. Before taking their first bite, millions of consumers are taking food pictures and posting them on Instagram.