A business cash advance is a type of business financing that allows any type of business, even liquor stores, the ability to grow their businesses using future revenues. It’s not a loan. It’s your own money, but it’s money you have earned in the future rather than today. Here are 5 things your liquor store can do with a business cash advance.
- Purchase inventory – As a liquor store, if you don’t have your shelves stocked with alcohol, then you’ll lose business. Imagine a customer walking into your store and finding your shelves half empty. They’ll likely walk out without buying anything if they can’t find the liquor they are looking for. By using future receipts to buy more inventory today, you can sustain your business through hard times and get back on track.
- Add a new store – If you manage a chain or liquor retail stores, or you want to expand your single-location liquor store, you can add a new location with a business cash advance. You are essentially taking future income and reinvesting into the growth of your business.
- Renovate your existing store – If you’ve been in the same location for a long time, your building may have some maintenance needs. You can take future receipts and renovate your current store, make it bigger, add shelf space, or improve your layout so that customers can find what they are looking for better and increase your sales.
- Expand your business offerings – If you sell beer and wine but want to expand into liquor sales, you can use future receipts from your beer and wine sales to add liquor to your inventory. Maybe that includes adding to your existing location and growing its size. Maybe you’d like to add a bar to encourage customers to stick around longer, make sales on on-premises liquor sales, and maybe even serve food. You can expand your business, increase revenues, and grow your liquor business with your future money.
- Hire staff – If you’ve grown your liquor business significantly and/or already expanded your operations, you can hire more staff. It’s expensive to hire employees, and you’ll have to pay them. By taking future sales receipts and converting that to payroll expenses, you can further invest in your business to increase sales and revenue as you continue to grow.
Liquor stores are not without options when it comes to growing and expanding their operations. You can use a business cash advance to make more sales, grow your revenues, and increase your business operations.