It’s a harsh reality to accept but many businesses owe the majority of their success to their image, or the impression people get when they encounter their physical location or online identity. Failing to recognize problems with these two elements of success can break an otherwise thriving business. If potential customers can immediately tell that your business is cash-strapped, old or inexperienced, it will be extremely difficult to increase demand.
This dilemma is particularly common in industries in which image plays a major role, such as hospitality (hotels), cosmetics, or food service.
Odds are, a business that needs to improve its image is also looking to grow in order to satisfy an increase in demand. These business owners will soon find out that the former action is actually a side-effect of the latter.
Image Really Is Everything
Brick and mortar businesses expecting heavy foot traffic must make sure their appearances are top notch so that anyone who walks into their businesses immediately realizes he or she made the right decision. Renovations are usually made for two reasons: Either your furniture is growing outdated or you’ve noticed that your target demographic is becoming more specific. Older customers prefer a different environment than youths, and you’ve got to capitalize on your chance to take ownership of whatever market you are attracting.
But you can’t just remodel whenever you please. If you wait long enough to see your furniture grow old, customers will likely notice well before you do and take their business elsewhere. Noticing this problem when it’s too late could also force you to make renovations during the busy season, which would then bring in nowhere near as much sales as you need to balance out the year.
Time Is On Your Side
Alternative business lenders like United Capital Source understand the importance of timing when it comes to expanding your business. Banks, on the other hand, take months to give approval and twice as much time to distribute funding. Traditional lending institutions have even been known to reject applications for renovation funding because the applicant doesn’t own his or her establishment and therefore cannot provide collateral.
Say you want to get started renovating your restaurant or hotel as soon as possible to prevent customers from noticing your outdated furniture. UCS can distribute funding right when you need it, even if revenue is down. Not only would you be able to secure a contractor right away but you’d also be able to take your time finding the right company to do the job since you can’t just trust the first name you see.
But as luck would have it, you need to make these renovations in time for the busy season, which follows the slow season. With a Merchant Cash Advance, however, you’d receiving all the funding you need without having to worry about the fixed, monthly payments of a traditional business loan. This credit card processing loan instead supplies a lump sum in exchange for a percentage of future credit card sales. The brunt of the debt would be paid back when the renovations are finished and business starts to pick up, allowing you to run your business smoothly when sales are down beforehand.
Establishing Your Digital Identity
For many customers, your website and social media accounts will be their first impression of you. This is why it would be wise to hire a graphic designer and social engagement specialist, both of whom will ensure that Internet users are convinced your business is professional, active and up-to-date.
United Capital Source specializes in helping businesses take on new hires whenever they see fit. Many UCS clients have used working capital loans to pay for their recent hire’s new equipment and compensate for the brief slowdown in operations that occurs when business owners are busy searching for potential candidates. If you are hiring a temporary graphic designer, he or she will likely ask to be paid (at least partially) up front. Paying off the loan shouldn’t be a problem because if you took your time finding the right candidates, they will have proven track records displaying their abilities to increase business.
We Can Help You Do It All
If you sell amazing products or services but still aren’t getting the attention you deserve, there’s a good chance your competitors simply have a better look than you. It’s up to you to level the playing field and claim the customers you have rightfully earned. The business financing experts at UCS have years of experience improving the images of business in dozens of industries, so they will provide crucial advice for bringing your vision to life. Remember, the longer you let these issues go unresolved, the more harm they will do. But after a short phone call with UCS, you’ll learn that waiting is something UCS clients never have to do!