What are your hopes for your business? What could be the one thing that would satisfy in knowing about the business? You want sales to increase! Increased sales indicate your business is meeting its objectives and customers desire your goods and services. Many people believe it takes money to make money in business.
A young company may not have the immediate funds needed to bring it to the next level. Traditional bank loans are an option, yet a loan can be hard to attain in a tough, economical climate. Furthermore, a business may have to wait weeks or longer to receive the loaned funds. Seeking a merchant cash advance is another solution. Lenders are less stringent in regards to who qualifies and funds can be available within days or sooner.
The process is simple. You and the lender agree upon a fixed percentage of your accrued credit card sales. The merchant loan is eventually repaid in addition to a percentage of interest. Your business resumes as usual during the process. The cash advance is repaid based on a fixed percentage of credit card sales rather than a fixed amount of money, so the debt is paid in relation to the profitability and speed of your business.
What could you do with a merchant cash advance? Let’s look at some ways you can increase sales by leveraging the merchant services.
Hire more staff
It takes a great sales team to sell your products and services. Your current staff may not have the time and resources to address the company’s current and potential leads. A credit card loan can provide the extra funds to add more talent to your pool of salespeople.
Conduct more marketing and advertising
In order to build a company brand, the public needs repeated exposure to its name, goods, and services. Marketing and advertising are ways in which companies of all sizes introduce what they have to offer to the public. A business cash advance can provide the tools to develop and implement marketing and advertising elements.
Develop a customer analytics program
Many customers realize there are a select percentage of customers who provide them with a large percentage of their revenue. It is to the company’s benefit to analyze who these customers are and to solidify and augment relationships with that population. A merchant cash advance can provide the funds to purchase or develop an in-house CRM or customer analytics program.
Purchase another location
Expanding and adding another location is similar to the philosophy of adding more talent; an additional location can open doors to more revenue. In addition to more immediate revenue streams, adding more locations makes the business more exposed to additional areas and customers.