(PRWEB) January 26, 2012
Paramount Merchant Funding is stepping up its restaurant programs for owners during the post-holiday market. During the first months of the year, new years resolutions, tightened spending after the holiday glut, and the weather in many places, tend to keep diners away. However, during these crucial months of the year there are plenty of opportunities for restaurant owners looking to improve their situation before business picks up again as the year progresses. One of the major moves for restaurant owners is to open a new location for which Paramount has started accepting applications.
The restaurant industry is massive, employing millions of Americans. Despite the fact that eating out is a discretionary purchase for every customer, it remains a mainstay of people’s everyday schedule. For successful single-location restaurants, expansion could be a major step in revenue production.
Fast food is the industry giant with speed, convenience and a massive international presence with unparalleled brand recognition on their side. Because most casual dining restaurants tend to have higher prices and small customer bases, they are more sensitive to consumer budget and the wider economic situation. For investors, fast food is the safer shelter in a down economy.
The rise in local food movement along with the perception of neighborhood “joints” as the friendlier and healthier choice, is helping fuel a growth in restaurant expansions from small, privately owned casual dining restaurants all over the country. But investors are still wary, with wall street in the back of their minds, and are looking for safer bets. Finding restaurant financing is still a struggle for even the most successful owners.
Expansion is no simple game either. What works in one neighborhood could fail in another. The restaurant’s concept has to be flexible and appealing enough to serve a wide range of customers. Careful review of customer base is important to make sure that a new location doesn’t start taking sales from the original. Investors pay careful attention to trends in the dollar value of guest checks as well as how much revenue is produced by special deals and how much is customer loyalty and mass appeal.
As the economy, the awareness of American consumer and the industry landscape evolve, the restaurant owner will find that while some doors remain closed, many are opening up. As small, single location eateries gain dedicated customer bases, succeed with their business model and prosper despite the issues that surround the American economy, the possibility of expansion is very real.
In lieu of investor support and with banks still not extending loans to “higher risk” industries, the restaurant owner may turn to alternative funding sources including merchant cash advances. Companies providing these types of funding are more enthusiastic about getting involved in lucrative and marketable business plans that have proven themselves and could increase production with more locations.
“We know a good thing when we see one,” CEO and co-founder of Paramount Merchant Funding, Daniel Smith said. “Restaurants have seen huge gains when they are able to expand to reach more customers in a new location.” Dan’s company specializes in restaurant funding and he has seen thousands of owners seeking small business alternatives after banks and investors have turned their back on them. “Our niche is underwriting a restaurant’s overall business model, cash flow and financials to provide necessary funding in a timely manner.”
Merchant cash advance has been a major source of expansion funding for restaurants all over the country. Paramount Merchant Funding have been able to help business owners implement their plans, make profitable choices on new locations and provide working capital while investors wait in the wings.
About Paramount Merchant Funding
We can provide you with Merchant Funding of up to $250,000 per business location. An alternative to a traditional bank loan, we advance you cash today based off your future credit card sales (Visa, MasterCard, American Express, Discover, and Debit Cards). There are no personal guarantees or collateral attached to the merchant cash advance. This allows us to provide you with the working capital you need within 3 business days or less. There are no restrictions on how to use the money allowing you to grow your business hassle free.
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