The restaurant business is driven by time, money, and people.
TIME: Operating hours can be long and extensive. From prep time to production time to serving time to cleanup and closing
MONEY: Time is expensive so it’s vital to be as efficient as possible to manage money from inventory purchases to operating expenses to payroll.
PEOPLE: Your staff is vital to the success of your restaurant. Only good staff with culinary talent in the back and wonderful people skills in the front and on the floor can create success for your business.
Active Business Loans knows how important these 3 factors are and how loan funds are required to create a successful restaurant. The marketing to draw Customers in to dine is not only a challenge but an expense that needs to be funded. Variables like days of the week and times of the year affect traffic and volume so often working capital money is needed to bridge slower times.
Common funding challenges faced in the food service industry are:
EQUIPMENT – Maintenance of existing oven
& stove equipment for longer life & purchases of new equipment to improve service and stay ahead of the competition
OPERATING EXPENSES – Payroll, Benefits, Lease/Rent, Inventory, Utilities, Landscaping & Aesthetics, Advertising, Insurance
LOCATION & BUILDING – Sometimes expenses occur unexpectedly. Like building maintenance or repairs; A/C and/or Heat breaks down; concrete to the entrance cracks and becomes dangerous; parking lot becomes full of pot holes and broken pavement
All of these expenses require funds that you may not have readily available ALL OF THE TIME! Call Active Business Loans and let us show you how we can help provide money you need to not only maintain your restaurant business but to help it grow and expand!
Great Food and Great Service are not inexpensive and you must maintain quality even during lower traffic times. What do you do? CALL Active Business Loans and we’ll provide solutions to these food service industry and restaurant business money concerns. Our lenders understand your needs and are structured to assist you in all ways possible with affordable loans and reasonable repayment programs.
From managing dozens of employees to dealing with seasonal income and food costs, it’s widely known that being in the restaurant industry is not an easy business. You have to invest heavily in inventory and equipment, plus hiring and training staff that may turn over regularly.