When you own your own restaurant, it sometimes seems like a Catch-22: as a merchant, cash can be hard to come by sometimes. But you need the cash for improvements to attract and keep customers, and you need enough customers to justify the expenditure. Wouldn’t it be great if there was a company that addressed the whole cycle of restaurant funding? Well, there is! Rewards Network has been helping restaurants grow their business for thirty years.
Use Our Merchant Cash to Make Improvements, Get New Equipment, Innovate and Upgrade
These days, if you are just staying the same you are actually losing ground. You need to invest money to make money at any restaurant; loans are not the way to go, especially when Rewards Network has two merchant cash programs that have more to offer. You get the cash you need, and we drive customers to your door with our marketing. On top of that, we offer customer engagement tools to put the feedback you need to make the right improvements at your fingertips.
Rewards Network Gives You So Much More Than Restaurant Loans
Rewards Network is exactly that: a network! We have a membership of over six million diners who spend big money every year. Our members spend 23% more than the average consumer, which means not just more customers, but also more cash flow – and cash flow is what the bottom line is really all about.
With Rewards Network you get to choose either Premier Restaurant Funding, which bases the amount of the cash advance for your business on the total credit card sales at your location; or Dining Credits, where we pre-purchase the credit card receivables of our member base, providing you the cash you need now.
Besides faster access to cash, you also get more customers into your establishment, including frequent flyers, corporate cardholders, and a pool of highly motivated diners. You also receive direct feedback from your customers through our Comment Management System, access to comprehensive marketing without upfront costs, and in-depth survey and analytic data that will help your business grow and thrive. This is the kind of assistance that can really send your business over the top in profits and popularity.
If you own or operate a restaurant, bar, or club and are considering ways to finance upgrades, innovations, or improvements, let Rewards Network show you how our Merchant Cash Advance products can help you go from surviving to thriving.
Merchants: Capital Access Need Not Be a Struggle
It can be incredibly difficult to get a business up and running for merchants. Capital access is often vital to keeping the business going once you get out of your first few months. A merchant cash advance that doesn’t lead you deeper into debt can be the difference between a company that goes under and one that makes it. Rewards Network provides some of the best choices when it comes to restaurant funding because we want you to succeed – we’ve been there, and we know what you need to know to make it and get ahead.
After the Start-up – Merchants, Capital Access and More
In general, one of the things that restaurateurs need after their first three months is access to capital. An initial period of data gives you the ability to understand what needs fixing. And because you’re already established, you’ve had the time to consider ways to improve your restaurant.
Most companies, especially in the food service industry, operate on incredibly tight budgets, and may not have access to the restaurant funding to be able to make changes. With Rewards Network, you can use our merchant cash advance to hire new staff, make changes to your infrastructure, remodel, and more. The sky’s the limit.
How Does It Work?
When most people think of a cash advance, they think of personal check cashing places or consumer cash advance operations, where consumers go when facing dire straits. That’s not how merchant cash advance operates, however. Rewards Network can offer business-specific cash advances, that are not loans, to allow you to use our merchants capital access to make your business perform better, add more staff, or make improvements. In short, our goal is that you succeed, and in doing so, pay back the advance.
We do this by bringing your company into our network of restaurants offering our members their choice of rewards. With our Dining Credits program, each time one of these diners pays at your food service location with a credit card, a portion of their payment comes back to us to pay the receivables purchased through the advance. Imagine being able to get access to the capital and customers that you need to expand your business, without ever having to make a manual payment on your loan. Everything is processed automatically.
And because our clients spend an above average amount of cash at our networked locations – 25% more than your average diner – you can count on your cash advance turning into a merchants capital access revenue stream instead. Contact Rewards Network today and find out how we can help your business grow.
Why Should You Consider a Merchant Cash Advance?
Even if you own your own business, you may have never heard of a merchant cash advance. Cash flow for restaurant owners can be incredibly difficult to come by, as many banks are often reluctant to give out restaurant funding for newer operations.
Taking high interest restaurant loans can get you more in debt and make getting out of the financial hole — and into stability — all the more difficult. Only Rewards Network offers a system where your success is central to our success.
Merchant Cash Advance and the First Year
During your first year in your business, your goal is simple survival. Keep the doors open, the lights on, and use your initial restaurant funding to get your company established. The aim of your first year is to work on promoting your location, getting your staff trained, and establishing your food service reputation. Ideally, you want to avoid taking any additional restaurant loans during the first year, because that can encourage you to expand too quickly and attempt to do too many things while still establishing your business.
The Second Year and Beyond
The second year of your business is best spent refining what you do, or expanding on the things you do well. It’s during that time that you will want to consider remodeling, expanding your location, or otherwise boosting your staff and production. But, even after being in business for three months, you have options like Rewards Network available to you, avoiding the need to take a second small business loan. With our merchant cash advance program, not only do you get the capital you need immediately, but you also gain access to a wider range of customers that are motivated to dine at your restaurant.
So how exactly does Rewards Network help? We offer you the up-front capital to make the changes you need, but we do not take payments in the traditional fashion. Simply put, we understand that static monthly payments can be a drain on a new business’s revenue, and our goal is your success. We add your company to our network, helping you market to customers in your local area and driving more business towards your restaurant. Because of our network advantages, our clients often spend significantly more than other diners – which means more money for you.
How does the cash advance get paid back? Simple. Every time one of your diners swipes a credit card with you, a portion goes back to pay the receivables purchased through our merchant cash advance. What could be easier? Contact Rewards Network today to see how we can help your business.
Cash Advance as a Business Owner
If you’ve ever needed a cash advance, then you know how difficult the process can be. As a restaurant owner, you get how difficult your industry already is, let alone how challenging it is to try to get some kind of loan from a bank. This situation can leave options which could cause you to spend more money that you borrowed in interest and fees.
Reward Network is here to present you with a different option than restaurant business loans. As experts in the field — with experience in getting restaurants off the ground — we know how we can best help you succeed.
A Reward Network Cash Advance…
… doesn’t work like any type of restaurant loans. In fact, it’s not a loan at all. We may be the only place where your marketing and your cash flow needs come together in a perfect system, getting you the funds you need without causing you undue hardship. Unlike restaurant business loans, our options end up netting you both initial cash and additional clientele to your business, based on our marketing processes. Our network members are often in the top 6% of our restaurateurs’ dining activity, spending 25% more per check than the average customer.
How Does It Work?
Rewards Network has set up a system where your business pays back pre-purchased receivables based on when your customers use a credit card payment. And by using our network as an alternative to restaurant loans, we assist in marketing your business to our membership base. Not only do you get the cash, but you also get additional customers coming through your doors to help pay the receivables purchased through the advance.
Our marketing processes target clients based on your type of restaurant, as well as your geographic location. What other cash service takes your business’s best interests to heart? Who else finds ways to help with cash flow issues, and also gets your business better marketing and representation? Our network lets us advertise to people who you may not have been able to reach, all in order to support your business objectives.
We’ve been there. It is harder and harder each year to run a restaurant. Between ever-changing laws and regulations, the cost of keeping and training excellence staff, and shortages across the board of qualified chefs, it’s never been more difficult. Let Rewards Network make things easier for you with our merchant cash advance services.
Get started for free today.
Restaurant funding from Rewards Network is flexible, cash-flow friendly, and can be approved in as little as 24 hours. Go from surviving — to thriving — today.