If you own a restaurant or a coffee shop you know how busy and rewarding the business can be. There are is a myriad of things to look after from interacting with the customers, managing stock and inventory, managing the service staff, to curating fresh range of products etc. It can also be a very interesting way to make a living that is fulfilling and also provides a service to the local community. This being said there can be a range of problems that can impact your café or restaurant. Like every other business, food and beverage industry is not immune to the hardships of the business world. Cash flow problems can arise at any time and it’s difficult to predict them beforehand.
So one must know how restaurants and cafe can benefit from payroll funding.
Usually when it comes to a coffee shop, there are people who visit regularly for their coffee. There is a regular visitors flow along with the occasional ones. When it comes to restaurants weekends and holidays are the busiest time along with the regulars who visit on a daily or weekly basis. People view coffee shops as a place where they can come and hangout, relax, meet their friends and also as a luxury. Hence developing a steady flow of regular customers is not difficult as long as you offer good customer service and quality food and drinks.
Although there will be times when your restaurant or café will see a reduction in the income. Certain period of years have a dip in the flow of cash. You may be serving the best and tastiest cappuccino or cuisines, but still sometimes there will be a struggle to bring in customers. This will result in a disturbed cash flow until the slow period ends. All this while you still have to keep the business afloat and running. There will be supplies and inventory to order, maintaining infrastructure, equipment to maintain and the most important employees to retain and pay.
No matter if you get just 2 or 3 customers a day or a handful over the week, you still need the same staff to run your restaurant and you still need to process their payroll on time. They too have people depending on them.
This is where 1 Click Capital’s payroll funding comes in play. If you are a restaurant or a coffee shop owner with cash flow shortages, you can benefit from a credit line through our 1 Click Payroll services. This influx in cash flow will solve your payroll processing worries with which you can then divert your existing funds on other needed areas like inventory.
Payroll funding works similarly like a traditional small business loan except you don’t have to jump through a lot of hoops, the application process is simpler and the repayment schedule is also much flexible.
If a circumstance arises where in you face a cash crunch and are worried about how you will pay your employees next pay check, think about taking a payroll fund before you jump on taking a traditional business loan. You will get the funds you need to pay your employees, and as soon as your business picks up again you can pay back the loan. This way not only are you worry free but your staff is also content and happy. As they say happy employees lead to a happy business.