Football season is here! This is the time where people like to go out and enjoy some food and brews with friends at local restaurants and bars. This gives your business an opportunity to have a great season alongside your favorite football team. There are times where you will run into certain ‘situations’ and you will need the right ‘play’ to keep the momentum rolling. We’ve put together a series of posts on the way financing can help your restaurant business.
The Situation: Tough Teams
College is back in session, and those kids want some pizza and beer. You have what they want, but the only problem is the first thing that pops into their minds are those national-brand competitors. Even when people do come in, they go for pickup since they don’t want to watch the game on a 10’’ television screen at the corner of the bar.
The Play: Opening Up The Playbook
Don’t let the big competitors get you down. Everyone wants to see the underdog win, and you can make that happen with a working capital loan.
Working capital loans*, as you saw in the past play, can be used for operating costs. They can also be used for marketing campaigns. You can give your customers a better experience than any chain possibly could, but you need to market your business effectively to get butts in the seats.
Use these funds to talk about your new flat screen TVs, make pamphlets about your special wing platters during the big game, and so forth. This loan will give your business the jump-start it needs to be the place to go on gameday.
If you are not familiar with working capital, educate yourself with our Working Capital 101 ebook.
This may also be the time to realize that you are way behind with your competition and you may need to completely do a remodel to keep your “stadium” packed. If this is the case, check out our Remodel eBook.
Free eBook: Maximizing Working Capital
Photo credit to iStock.
*Working capital not available in the following states: AK, DE, ND, VT