Is bad credit stopping you from expanding your hair salon business. Did you try merchant cash advance?
Nowadays people are paying more attention to their looks, nails and hair. This has seen the rise of the new age hair salons, spas and nail salon. If you own a salon you understand the need for speed and availability of cash flow. You will agree that to stay in the race your salon must be up-to-date and offer your customers not only sterling service but also easy payment methods.
Have you met with rejection when you applied for a bank loan? If yes, it is good for you because in your business time is of essence. You have no time to wait endlessly for your application to be processed to be followed by another lengthy verification process.
There are several alternative funding solutions that can fund your business. The most popular bank loan alternative is merchant cash advance.
Why is merchant cash advance the right choice?
Merchant cash advance is quick, require no collateral, are bad credit okay and even merchants with bad credit and high NSF qualify. If you don’t want to lose the location for your next salon you obviously can’t wait for the bank loan, you need cash immediately and MCA will help you get it.
How can hair salons use the additional finance?
Upgrade existing equipment
Most of the salon equipment breaks down faster than expected because they are used very frequently. It becomes mandatory on the salon to either repair or replace all poorly functioning equipment. When you opt for a MCA you can do that without worrying about the finances. It is recommended that you go for energy efficient models to save on your utility bills and also reduce the carbon footprint.
Investing in a popular product line
A popular way of drawing more clientele is to introduce a popular brand or product line up to your existing brands. Brand loyal customers like to stick by their loyalties and will come to you if you have their kind of accessories, makeup,shampoos, and dyes. Satisfied clients will not only come back but will bring others too.
Adequate Working capital
A working capital is the very life breath of all new businesses. They keep you afloat and are ameasure of your salon’s health and creditworthiness. Insufficient funds will run you into trouble with your vendors, credit card companies, and other short-term creditors. Moreover, you need the cashflow to pay your staff and meet other daily expenses. With a MCA your account will have the adequate finance needed to run your business smoothly.
Hiring skilled workers
You don’t want to lose customers because you don’t have enough staff right? If finance was a constraint you can rest assured that the BCA will provide the excess funds needed to employ more staff. It is especially crucial that you have additional hands during the holiday season. Even temporary employees are good to tide the demand.
Yes, word of mouth is often good to garner clients but when you want to target awider cross section of thesociety you must invest in proper marketing and advertising campaign. Normally, marketing expenses are the first to disappear in crunch conditions but with our MCA you can have the cake and eat it too. With short term BCA, you can create a website, advertise in social media, create an app. Marketing is very crucial for small businesses and you cannot afford to ignore it, not even when faced with a tight budget because of the easy availability of unsecured loans.
2nd position funding
Sometimes to pay off one loan you will require another loan. When you take MCA you can opt for 2nd position, 3rd position, 4th position and even 5th position funding. Ofcourse be cautious when you opt for these loans because they are very expensive and come with high interest rates.
Thus, to see your business grow you need the additional funds and the best option is MCA providers like us.
Your clients come to you for some relaxation and pampering but if you are stressed with the state of your finance you won't be able to do justice. Leave all your financial worries in our safe hands and you focus on building a long-term relation with your clients.
We have been in this field long enough to understand all the nuances and workings of the loan structure. We have funded several beauty salons, hair salons and spas. We offer multiple credit card terminals for all your stylists. We have provision for apple pay and Google wallet too. A reliable customer service and apersonal account representative to deal with any hiccups you might have. Your data is safe and secure with us.
For any further queries feel free to talk to our customer service representative. You will be happy to know that our consultation is not binding and you are free to choose the best alternative funding solution to expand your business.