Is Your Restaurant Business Ready to Grow?
If you feel like there are growth opportunities out there just waiting to be seized for your business… you’re right!
Perhaps you’re not sure what the best next step is for the growth of your business. At ARF Financial we’ve worked with thousands of companies like yours to help finance their success.
Time and again we’ve seen some of these investments pay off big:
- Adding a new location
- Purchasing new inventory
- Purchasing new equipment
- Adding a bar / acquiring the licensees
- Starting an expansion project
- Beginning renovations
- Start a new advertising / marketing campaign
For example, one of our clients needed $75,000 for some renovations she wanted to conduct after-hours. After receiving funding through ARF Financial she was able to complete the renovations in less than a month. These renovations helped her increase her sales by over $900,000 in one year!
What next step for your business could help you drive more profits over the next year?
How Can My Business Prepare for Growth?
If you’re planning changes for your business that will result in exponential growth fast, such as adding new products or starting a new ad campaign, there are a few things you should do in advance:
- Staff up so you can handle new customers with grace
- Train your employees
- Get feedback from your customers both new and old
- Focus on what you do best
When new customers come through your door you want to make sure they have a perfect experience so they come back again and maybe even recommend a friend too. To do this you’ll want to hire new staff members so that your customer service doesn’t suffer.
For example, if you run a Groupon for your restaurant, you may need to hire additional cooking staff and wait staff so that food comes out in a timely manner and patrons aren’t left waiting for someone to show them to a table.
In addition to ensuring your new customers are treated well, you’ll want to ensure your employees experience the benefits of growth along with you.
Growth can be a very stressful time for all staff members. By hiring additional staff members, providing extra training and engaging in team building activities, you can alleviate some of the stress and ensure your best employees stick with you.
Additionally, it’s really important to ask your customers (both new and old) for feedback as you grow. Your existing customers will be able to tell you if anything has changed in a negative way, and your new customers can tell you what would get them to come back again. Learning from both customer sets is really important.
Finally, remember to focus on what you do best. An article on Entrepreneur states that when you start spreading your focus to other areas, “you confuse your customers and your employees — and you’ll likely find that dividing your efforts reduces the quality and profitability of everything.”
What Type of Financing Should I Consider?
You can find a comprehensive Guide to Financing the Growth of Your Business here.
You have quite a few options to consider, including:
Each of these options are made specifically for successful businesses who are looking to build and grow. We can approve you in 24 to 48 hours and your credit will not be impacted by this application! APPLY NOW.