Retailing is hard work. You have to attract customers, build loyalty with them, ensure you always have the right product for each customer, and replenish your merchandise on a regular basis in order to keep your shelves stocked. And these are some of the easier challenges to overcome. But if you’re struggling with cash flow issues or not enough capital to order the merchandise you need to sell, then retailing can be even more difficult.
To top it off, retail businesses often have a hard time getting capital, especially a loan from a bank. With the advent of online merchant cash accounts, however, getting same day capital can be a lifesaver for a retail business. Here are five benefits to applying for same-day capital for retailers:
- Same-day capital can help you buy more merchandise – Without merchandise, you cant run a profitable retail business. So if capital is what is holding you back, it doesn’t need to be. Getting the funds you need to buy merchandise to put on your shelves means you’ll have more customer walking out of your stores happier.
- Establish more locations – How many times have you said to yourself, “If I had a couple more storefronts, I could increase my revenues?” You’ve already got a proven business model. You’ve got product, you’ve got customers, and you’ve got sales. Duplicate your success and you’ll make more money. Don’t let lack of capital hold you back.
- Marketing – Even if you have all the right product and you’ve got a great storefront, if you cant drive customers to your retail establishment, you won’t make any sales. A small merchant cash advance might be what you need to jump start your marketing so that you can increase your revenues and grow.
- Hire more employees – A growing retail business is great. You’re busting at the seams. If only you could hire more employees to cover the business demand, then you could increase sales and restock your merchandise more often. A higher product turnover means more revenues and more profits. Same-day capital can give you the funds you need to hire more employees to cover your demand.
- Pay overhead – Overhead expenses are a killer. You’ve got your lease agreement, electricity, water, insurance. The cost of running a retail business isn’t getting better. If you need capital to pay your overhead so you can stay in business, you can’t afford to wait for weeks on a bank loan. You need capital now. Same day capital, or a merchant cash advance, can mean the difference between staying in business or shutting your doors.
When you apply for same-day capital, you can get approval the day you apply. Then you can have your money in your hands within 24 to 48 hours.