Help Your Business Thrive This Holiday Season With Merchant Cash Advances
The Holidays are a busy time for everyone, but it can be especially difficult for businesses trying to manage increasing consumer demands while staying afloat and profitable. In 2014, the National Retail Federation reported that there had been a 4 per cent increase in 2014 Holiday sales, citing that shoppers had spent an impressive $616.1 billion dollars in November and December alone. They furthermore predicted that this trend is only expected to increase, expecting business revenue for the next several Holiday seasons to rise steadily.
Whether your business is faced with declining sales, unexpected renovations or expenses, or are just starting out, the Holidays can put immense financial strain on your business. If you don’t manage your business’ finances right, you could be starting the New Year off in debt rather than celebrating your holiday profits. Eric Samson for Entrepreneur writes, “Businesses that fail to maximize the holiday shopping season miss a huge revenue opportunity. Brands that invest only a small portion of their budget on timely, seasonal ads flounder while competitors with bigger budgets win the wallets of consumers.” Yet, it’s crucial to do everything possible to maximize your potential revenues, but that can often come with a hefty price tag.
Merchant cash advances are there to help businesses remain successful during financially strenuous times, like the Holidays. Whether your company’s credit card is maxed out or your bank is reluctant to give you a loan, merchant cash advances can give you the cash you need on the same day you apply. With a 95 per cent rate of approval, there’s no reason to not take advantage of this opportunity.
A merchant cash advance can do a lot more than help you cover unexpected expenses or falling sales. They can also help you maximize your sales revenue potential during the Holiday season. There are various ways you can use your cash advance loan to increase your business’ success.
Purchase More Inventory
With the influx of customers looking to fulfill their Holiday wish lists, you probably find products are flying off the shelves at an increasing rate. Both your customers and employees become frustrated when items are continually out of stock and issuing rain checks for items can be time consuming and less profitable for your business. By using a merchant cash advance to order inventory as soon as you want, you can ensure you have the products in stock to satisfy your customers and free up employees.
Purchase Advertising Space
Advertising is crucial during the Holiday season when customers are on the hunt for the best deals at the best location. If you want to be competitive with other businesses for customers, then advertising is crucial to spread the word about your services.
However, advertising is notorious for its high cost. It’s especially problematic for businesses that may just be starting out or are swamped with debt because they will be unable to afford advertising space. By putting your merchant cash advance towards advertising to buy print space, Internet advertising, or even commercial airtime, you can maximize your visibility and increase your sales.
Hiring Seasonal Employees
Business are often overcrowded and understaffed during the Holidays with the influx of customers ready to do some serious spending. But, if your business lacks enough staff to meet increased consumer needs, you may be sacrificing customer service and profits. Merchant cash advances will allow you to hire seasonal employees during this busy time of the year, so you can take care of each customer who visits your business, which is critical for your success.
Finally, merchant cash advances make it possible to keep your business open for extended hours. This way you can increase your sales revenue by staying open later and increase customer satisfaction. Paying your workers for more hours and covering increased utility costs that arise from extended hours can be a financial hardship and counterbalance your profits. But, with merchant cash advances, you can rest assured that you’re only working to maximize your business’ revenues.
With these benefits, it’s clear that merchant cash advances are a reliable way to ensure your business stays afloat during the strenuous Holiday season. Not only will it ensure your business survives financially difficult times, but it can work to maximize your profits and help increase customer experience, two things crucial to maintaining a successful business.
If you think a merchant cash advance may be right for your business, you can call Merchant Lenders Canada at 1-877-682-0459. Applications are easy and quick to fill out in comparison to alternative types of financing, which can take too long to process and may not get to your business in due time. With same day approvals, a 95 per cent acceptance rate, and the future of your business at stake, you have nothing to lose and absolutely everything to gain.