Research studying customer behavior post-pandemic reveals that 64% customers still prefer placing orders online, 33% prefer placing orders online but picking up their products in person, and the remaining 27% would much rather shop for products from stores physically. Retail shop owners must adapt to the changed market or close shop, for good. Given below are 3 ways to achieve success post-pandemic.
multiple shopping options
The above-mentioned statistics make it clear that unless multiple options of shopping are provided, retail shop owners stand to lose the allyship of a significant portion of their customer base. At the very minimum, an e-store, a convenient pick-up provision and a safe shopping space have to be ensured to customers in order to gain their confidence and get them shopping with you again. The capital required to set up multiple channels can be secured through retail store business funding solutions like merchant cash advances.
an elevated store-shopping experience
have been at the heart of the e-commerce boom. Customer spending in “store
pick-ups” account for around $37 billion in the year 2020. Retail shop owners
can maximize their profits by offering customers a little extra, when they come
to pick up their orders. Provide them with expert help, a warm ambience,
strategically displayed products that are in demand to capture the attention of
the customer and draw them into your store when they come to pick up their
order. Ensure that your store is also safe with appropriate thermal screening
and sanitization booths provided, so the customer is confident to enter your
store. Retail store financing is the best way to
source the funding for this strategic move.
e-commerce technologies used
biggest obstacle for small retail businesses during the pandemic was that they
were not equipped with the funds to manage the logistics of an e-store
effectively. With retail store business funding,
this obstacle can be overcome and you can invest technologies and resources
that will help run a successful e-commerce store which can stay open come
lockdown or nay.
As with any other industry, the trucking industry is also competitive. Given below are three effective marketing strategies for trucking businesses that can be implemented using merchant cash advances from commercial truck business financing agencies at different stages.
strategy to spread the word
aim of all marketing at the initial stages of a trucking business should be to
get word out about the business. Handing out flyers and brochures, advertising
on print and on air in local media, setting up billboards, getting listed on
the yellow pages, etc. are just a few of the many strategies that can be
adopted to spread word about the business. Trucking
business funding agencies hand out merchant cash advances to new
businesses with no credit history and this is the best source of capital for
the marketing required in the initial stages.
strategy to bring in new customers
Once, the word is out that a new trucking business is in town, you should focus on bringing in new customers. The easiest way to do this is by offering opening sales and discounts. Attractive offers that best those offered by competitors will help bring in new customers. Offers inevitably are an expense point and trucking business funding can be availed to pay for running these sales and offers.
strategy to retain customers
Success is guaranteed only when customers keep coming back. This should be secured by quality of service. A few marketing strategies can also help retain customers. The most effective strategy is to offer to customers monthly subscription packages at a slightly reduced price. This will secure business for a duration of time. The capital required to put this strategy into place can be availed from commercial truck business financing agencies.
The retail industry is rife with competition and one must be smart in investing money into the business in order to succeed. Retail store business funding can help small retailers implement business strategies. These strategies should ensure that the cash flow remains positive, i.e., the revenue should be greater than the costs incurred, to achieve success. Here are a few such strategies that will help you make the most of the merchant cash advance you secure.
the most in what sells the most
As mentioned before, the retail industry is highly competitive. The key to gain success in this competitive market is pretty simple. Sell what the people want. Analyze the point-of-sale reports to identify the products that sell the most. Avail merchant cash advances from retail store financing agencies to invest in those products that sell the most. This way, you will not have unsold stock, nor will there be a shortage of products – both detrimental to business.
sure your fixed expenses are paid
Salaries, rent, etc. are some
examples of fixed expenses. These expenses are a pre-requisite to the
functioning of the store and should therefore not be avoided. During slow
seasons, retail store business funding can be
availed to ensure that the business stays afloat. Only when your store is open
for business, come rain or shone, can you withstand the competition.
Take insurance out
Taking out insurance on your retail store should not be avoided because of how costly it is. Merchant cash advances from retail store financing agencies can be used to pay for insurance. This will cover the costs that might be incurred in an emergency and save you from having to empty out the income from the store itself.
The lull in business brought about by the pandemic and lockdowns can only be broken by effective marketing. It is important that business plans be revised to include creative marketing strategies so that businesses can pick up the pace again. Auto repair shop financing agencies help auto repair shop owners secure the capital required to implement new and improved business plans. Let us look at a few effective marketing strategies that this money can be used for.
offers and packages
“Early-Bird” offers are a tried and tested marketing strategy to gain traction when a business is starting up. The same strategy can be implemented with a few tweaks as you open shop post-lockdown. From free diagnostic runs to free merchandise to discounted rates for services like cleaning, oil change, etc., this strategy is sure to lure in customers. You can avail merchant cash advances from online business funding agencies to fund this strategy.
Take the raffle
contests to social media
Take raffle contests to social media platforms by securing auto repair shop financing. One follower, who has tagged a friend who isn’t following your social media account in the comment section and shared the news of the contest on their handles should be chosen at random for a free service. This will increase your reach and engagement and spread the word about your shop.
merchandise to grab new eyes
Merchandise is the key to grabbing the
attention of new customers. Auto repair shop merchandise can include T-shirts,
keychains, travel mugs, flashlights, etc., all bearing your company logo. This
will be a non-verbal advertisement for your company for as long as customers
have the merchandise. The capital required to put this plan in motion can be
easily acquired through online business funding agencies.
Liquor stores are considered risky businesses by conventional financing institutions. They are, therefore, turned down from receiving cash advances. Merchant cash advances, on the other hand, do not discriminate applicants based on the industry in which they run their business. The only criteria that merchant cash advance depends upon is the previous sales statements of the applicant. These statements are used to make an estimate of expected future sales as the repayment is dependent on the sales made. This article details what one can do with liquor store purchase financing.
essentials that are often costly
Running a liquor store is not as easy as it sounds. All the essentials required to run a liquor store are expensive. From the commodity (liquor) to the setting (refrigerators, couches in the waiting lounge, display cabinets), everything is expensive. Given the high cost of operation, resorting to merchant advance as a means of small business finance for liquor stores will help cover these high costs until enough revenue is generated to pay for the costs.
of legal fees for obtaining licenses
One cannot run a liquor store without appropriate licenses. Moreover, every liquor store is also subject to the specific laws in the State it is located in. These laws have to be complied with to maintain the legality of the store. It is wise to hire the services of a legal professional to ensure that compliance is complete. These costs are not repeated frequently and can be covered by liquor store purchase financing options like merchant cash advance so that the working capital does not run dry.
costs of promotional events
promotional events are the best way to secure more customers to a liquor store.
These events can be spaced out across the calendar to improve sales. Attractive
decorations, colorful fliers, free samples, etc. are tried and tested methods
of garnering customer interest and increasing the footfall in the store. The
costs for these events can be covered by means of small
business financing for liquor store like merchant cash advance.
E-commerce is a booming industry today and has opened up many opportunities for retail store owners. The market for a retail store is no longer restricted to one city or neighborhood but extends to the whole world. However, along with its wide reach and new opportunities come new challenges which is why retail store business funding is essential. Virtual businesses also have the same amount of expenditure as a physical store would have. For example, to compete in the global online market you may have to set aside substantial publicity and advertising budgets, and shipping costs. Take a look at some options that will help your retail business.
Retail Store Financing
A quick cash advance for a retail store can help you deal with immediate expenses such as keeping the supply chains ticking and also making sure your employees are paid on time. You can fund your retail store business without any worry of keeping up your credit rating. Small businesses usually rely on working capital that can be used for various cash requirements such as the purchase of inventory, furniture and fixtures, business expansion, and other urgent needs. Funding from a reliable retail store financing provider will help with all these requirements.
Make The Most of Your Retail Store Funding
Have a clear idea why you require retail store business funding, to prevent unnecessary spending. Calculate the exact amount you will need, rather than requesting a rough estimate to avoid having either too much or too less capital to work with. If whatever you originally planned does not pan out as expected, be prepared with an alternate plan. This will ensure that your sales remain steady and repayments are not affected.
With a trustworthy cash advance provider, you can take care of all
the requirements of your online retail store business.
For those in the trucking industry, maintaining your trucks and keeping drivers satisfied can be a challenge. With commercial truck business financing, you can efficiently deal with sudden emergencies, such as a truck breaking down or being involved in an accident or any other unforeseen expense. If you are an independent contractor and want to expand your fleet or upgrade to new trucks a cash advance is very beneficial. Larger companies can also avail of quick cash advances, even if they require large amounts.
Funding For Regular
Many companies opt for commercial truck business financing to meet maintenance expenses. Quite often, business owners may neglect regular maintenance to reduce overall costs, but this eventually leads to more expenditure as your truck may end up requiring extensive repair. A part of maintenance includes keeping track of the distance traveled, the type of load carried, the kind of roads traveled on, and the weather conditions. There may be times where extensive maintenance is required and this is when a cash advance can be helpful.
Commercial trucking companies also require cash advances for administrative expenses. Administrative costs could include registration fees, certification fees, insurance costs and even driver salaries. These costs are usually incurred on a monthly basis. Further, during months that require larger capital investment, especially for the renewal of various policies, trucking funding for business owners is useful.
As a trucking business owner, there are many costs that may be tough to handle by yourself on a regular basis, which is why a cash advance is extremely useful. Irrespective of the regular or urgent expenses incurred by your trucking business, such as hiring and training of drivers, maintenance, leasing/buying of trucks, administrative needs and general business expansion, ensure that you identify a suitable and reliable cash advance lender to help you meet your business needs.
A liquor store is a good investment that will provide the
owner with a steady income. Liquor store purchase
financing solutions can help potential owners to procure the capital
yourself on the licensing regulations
The rules that govern liquor stores are different in different cities and states. Educate yourself on the various regulations, licensing regulations. Understand the rules that must be complied with and ensure timely compliance to avoid penalties. The capital required for such compliance can also be sought through liquor store purchase financing. All the information pertaining to rules and regulations can be found on the government website of the Alcohol and Tobacco Trade and Tax Bureau (TTB). One can use this information to verify compliance or information relayed by the seller or the broker.
Educate yourself on the operational expenses
The operational costs are often overlooked while calculating
the capital investment required. This can prove detrimental to the business and
create cash crunches right as the store opens. Operational expenses like
inventory expenses, payroll expenses, expenses for advertising and implementation
of marketing strategies, expenses for improvements in the store or renovations,
etc. should be calculated. An estimate of all of the above operational costs and
the cost of purchase should be added up to calculate the cash required throughliquor store business financing.
yourself on customers and competition
Before you even begin to run the business, analyze customer
preferences and study the competitors in the market. Use the cash advance
obtained through liquor store business financing to
provide to customers, more than the competitors. Ensure that everything in the
store caters to the customer preferences observed in the market. This will help
you hit the ground running as you open a liquor store.
Small businesses most often than not rely on working capital that is borrowed for various business cash requirements like the purchase of inventory, fixtures, expansion of business, filling up of seasonal gaps in cash flow, etc. Here are 3 ways you can make the most of your retail store funding.
Know the purpose
Identifying the purpose for which the financing of your retail store is required will make it easier to locate the right cash advance providers. Once the cash advance is obtained, remember to remain focused on the purpose. Use the cash advance for the purpose that was identified. This will check unwanted spending of the cash advance.
exact amount required
Calculation of the exact amount of cash required depends on the purpose for which financing of your retail store is sought. Once the purpose has been identified, set to calculate the exact amount of cash that will be required. This will also improve the chances of getting the cash advance as quickly as possible. Merchant cash advance providers can best help applicants when the exact amount required is stated in the application. There is a tendency to seek more than required. However, this will only increase liability and prove detrimental to the ROI of the business.
Formulate a plan
Retail store funding is sought to meet cash requirements in business that will increase future sales and revenue. A wise store owner will always have a plan B worked out, in case the original purpose for which the cash advance is sought, is not reaping the benefits it was purported to make. This will ensure that future sales stay steady and repayments aren’t hindered even if the first plan did not work out.
An uninterrupted cash flow is a necessity to ensure
the success of a trucking business. However, this cannot always be ensured by
the business owners on their own, and this is where trucking
company funding comes into the picture. Given below are the most
frequent purposes for which such funding is sought.
For meeting maintenance
Trucks require frequent maintenance. Avoiding
periodic maintenance will affect the efficiency of the truck, and eventually
affect the success of the business. Maintenance of trucks depends on the
distance travelled, the type of load carried, the roads travelled on and the
seasons. Some months call for more extensive maintenance than others, the cash
required for these months is usually availed through trucking
Trucking company funding is also sought to pay for the various administrative costs that are incurred in running a trucking business. This includes registration fees, certification fees, insurance costs, etc. While administrative costs are usually steady across months, some months require greater capital investment, particularly for renewal of various policies and repeated compliance.
The expansion of a trucking business primarily
involves procuring additional trucks. Such procurement can be by means of
complete purchase or by taking trucks on a lease. Whatever be the method of
procurement preferred by trucking business owners, trucking company funding is
usually preferred to meet the cash requirements that arise.
hiring and training expenses
Hiring and training expenses are also usually met by
trucking business funding. With increased business, the need to hire more
drivers arises. Once competent drivers are hired, it is necessary to train them
on the various safety regulations followed through seminars. All of these
expenses can be easily covered by means of trucking