Learning to navigate the ebbs and flows of the restaurant industry is vital for any owner who wants long-term success for their establishment. Indeed, recognizing how to maximize profits during busy times is nearly as important as scraping by during slow periods. And since spring is just around the corner, restaurant owners need to start preparing for an in-rush of customers. Not capitalizing on a vibrant few months can put your business behind the eight ball –– permanently. However, utilizing a restaurant loan can give your business the head start it needs to tackle the spring rush with aplomb. Here are five ways you can use a restaurant loan to that end:
Clean and Refurbish
It may not be glamorous, but giving your place a good scrubbing is simply a necessity. Depending on how long it’s been since your restaurant went through a thorough spring cleaning, you may even want to use your financing to hire professional cleaners. Don’t scrimp on this process, and plan to do it as often as possible. Note also to replace any broken or wobbly chairs or tables.
Think Outside the Shop
Nothing says spring quite like enjoying a vibrant meal on an outdoor deck or patio. If your business is graced with ample space to set up tables outside, then use that area. Not only does outdoor seating increase your capacity, but it’ll also improve the appearance of your restaurant. If you’ve neglected your deck or patio in the past, now’s the time to invest in it with a restaurant loan.
Hiring part-time employees for busy periods is generally a solid option for restaurant owners to explore. The key here is to remember to make your hires in advance of your busiest months. That way you’ll have ample time to train and acclimate your staff. The last thing you want to do is throw a green server into the deep end without adequate preparation.
With the changing of the seasons, it may also be wise to shake up your menu. Adding new drinks and items will excite and intrigue your customer base. Of course you may need a little extra capital to do so, but that’s where a merchant cash advance or a business line of credit can prove so crucial.
Promote Yourself Early and Often
Whether you pursue traditional-media advertising or opt for a more digital approach, ensure that your customers know about your big plans for spring and summer. Even if someone hasn’t come to your restaurant for a while, a well-placed ad can pique their interest again. After all, improving your establishment doesn’t mean much if no one knows about it. So get the word out any way you can.
The Bottom Line
Whatever your plans are for seasonal changes at your restaurant, know that you’ve got a bevy of financing options available. Contact the National Business Capital team today and see how we can help you secure a vital loan –– even if you have less-than-perfect credit. Plus, for more information on how you can get critical restaurant financing when the banks say no, download our free eBook here: