Building your business from the ground up can be daunting and challenging. If you’ve been in business for more than a few months, you’re already doing pretty well. However, did you know that you can get another leg-up on your competition and further advance in your market and industry? With the help of Smart Business Funding, you can acquire the funds necessary to advance your restaurant or bar to the next level. You won’t need to wait months or even years to take advantage of opportunities to take your business to the next level.
Consider the following ways to take your restaurant or bar to the next level with additional capital from Smart Business Funding:
1. Increase Advertising
To generate more traffic, acquire new customers, and establish more regulars, consider increasing your advertising and marketing campaigns. This will help you to get your name out there to people who don’t know about your bar or restaurant. This works best when combined with the following option.
2. Offer Special Deals and Incentives
To help entice new and old customers to return and enjoy what you have to offer, make it hard to resist. Slashes prices, offer percentages off their orders, or provide buy-one-get-one free deals and other incentives to draw customers in.
3. Hire More Employees
As you get more customers into the door, the demands on your business will rise. Consider using your new funding to hire and train new personnel to help you meet your new demands.
4. Update the Decor or Have a Complete Renovation
Every business eventually needs to update its colors, furniture, equipment, and decor. Without renovations a bar or restaurant can get stuck in the past. For some customers this might be appreciated, but unless the old look coincides with your theme, updating your location can be refreshing to new and old customers alike.
5. Update the Menu
Like you need to do with your decor and renovations, update your menu to reflect the changes in the seasons and to keep up with the demands of your market. Try new drinks and new meals, and get rid of a few of the menu items that don’t sell well, which can translate into wasted ingredients purchased.
6. Hire Performers
By hiring performers like dancers, singers, musicians, DJs, and other types of entertainment, you can draw people in to do more than just eat or drink. You’ll draw in a crowd that enjoys the nightlife or other forms of entertainment, which will translate into increased sales for meals, snacks, and drinks.
7. Hold Contests
When you have contests at your location, you allow people to become invested in your restaurant or bar. They’ll be eager to see the winnings, to see if they won, and to become part of a culture within the atmosphere you have established at your location.
If you need extra funds to take your business to the next level, give us a call today. At Smart Business Funding we give you the resources necessary to succeed!