ARF Financial is pleased to provide this short, informative monthly newsletter. Our company's mission is to help business owners like you obtain financing that is affordable, quick and hassle-free – and to offer valuable tips on how to become – and stay – more profitable. In this issue, learn tips on preparing your business for the busy holiday season in this interesting new blog post – 5 Strategies to Prepare for the Holiday Rush.
Holiday season “officially” starts in November and December, but for some it starts much earlier. Forty percent of consumers begin their holiday shopping before Halloween each year. It is the busiest season with most restaurants and retailers accounting for 30% of their annual sales. The projected retail sales during the holiday season is around $700 billion.
Having your restaurant pre-approved for a line of credit means a lender is confident in your ability to handle a cycle of borrowing and repayment.
This offers a great deal of flexibility in cash flow and spending that can benefit your restaurant in many ways.
Providing genuine stories helps resonate with diners.
It was the summer of 2015 in an up-and-coming foodie destination. Within weeks of each other, two restaurants were opening. Both were high-end seafood concepts separated by no more than a half mile. Both had excellent design and similar menus with innovative dishes that deftly walked the line of classic and eccentric. The concepts were well-planned. The food was either locally sourced or flown in daily. Both played to the desires of their well-heeled patrons, and there was enough business for both of them. A year later, only one of the restaurants remained.
Operating a restaurant has not changed much fundamentally over the past 50 years, but running a profitable restaurant has. All those little expenses add up to lost profit. Here’s some valuable suggestions to rein some of them in.
Would you like to explore financing options to grow your business? Contact me to learn more about obtaining a collateral-free business loan in just a matter of days! Or, click here to go directly to our online quote form.
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