Once you know what a merchant cash advance is, the next question to pop into your head could be “What can I use a merchant cash advance for?” With so many possibilities, it could seem daunting to make plans to use this cash infusion for your restaurant. This series will help you focus on aspects of your restaurant business that could benefit from a merchant cash advance.
Part One of this series focuses on using merchant cash advance to upgrade your front of house operations.
The first area you could start to consider upgrading is the space your customers experience: the front of house. Are you noticing a lack of sparkle in your décor? Do customers yawn at the so-so atmosphere in your dining room? These are signs that it’s time for your restaurant to get a facelift!
Don’t wait until it’s too late and your profits are affected by your restaurant’s outdated look. Professionals in the restaurant industry recommend a updating a restaurant every 5 to 7 years, though you should always be keeping an eye on industry trends and customer feedback to see if an update is needed earlier.
Front of house updates can range from anything as small as purchasing new plates, silverware, or glassware, to upgrades as large as changing out the tables, floors, chairs, and décor. Program restaurant Salt recently used Rewards Network’s Premier Restaurant Funding to remove all of the glass tabletops in the dining room and patio to switch to full linen service, build banquette seating, upgrade the plate ware and glassware, replace the patio umbrellas with a new trellis, install new tiles behind the bar, and update the restaurant’s restrooms.
Remodeling your restaurant is not just about making it look good, though. It can also make your restaurant more efficient, and an efficient restaurant layout is ideal to maximize your space. Once you’ve been in business for a few years, you know what your average party size is and this should reflect that in your table layout. For example, if you always have extra four tops available or are constantly putting two customers at a four top, changing your layout to include more two tops could help increase table turn.
Another way you can increase your seating capacity, allowing for more customers and increased restaurant sales, is to add a patio to your restaurant for use in the warmer months. Especially for those of us in areas with harsh winters, outdoor spaces at restaurants become a big draw for customers once patio season begins. You can also extend the patio season and boost the atmosphere of your outdoor space by adding patio heaters. This way you won’t have to close the patio on a chillier day and increase customer satisfaction by making them feel more comfortable.
Using merchant cash advance to make updates to your restaurant’s front of house is a great way to generate new excitement with your current customer base and attract new customers. From large renovations to the smallest of details, the changes you make can help your restaurant grow and thrive – and merchant cash advance could be a great solution to help you make those updates a reality!
But that’s not all you can do with a merchant cash advance. Check out part two of our series about how a cash infusion can help you make back of house updates.