If you live in a suburb or a city, you have seen plenty of restaurants come and go. The restaurant industry has been and industry that we have worked in for over 20 years. Initially we helped restaurants in the New York city area with their IT business plans. This involved consulting as well as website and SEO services to help attract more clients for our customers. Over the years we have worked with many clients such as Lidia Bastianich (Lidias Italy website) as well as small Pizza restaurants such as Rosario’s Pizza in Queens. You can assume that industry’s popularity certainly doesn’t make it any less risky. There’s just so many reasons for a seemingly promising restaurant to fail, especially these days when many baby boomers seem to be retiring and investing in a family business we are seeing more restaurant startups. Many times we see seasonality, or the drastic fluctuations in revenue experienced by restaurants that peak during the summer or holidays and then they see a fall off in their business in the off season. These varying streams of money makes it difficult to keep a sufficient amount of employees on staff for the busy and slow seasons. And much like the industry itself, restaurant employees tend to have high turnover rates just like the restaurant industry as a whole.
Restaurant Equipment Financing should not be taken lightly and we have seen restaurant owners pay tens of thousands of dollars for a small restaurant just to keep up with the ongoing need for equipment, which has can break down when you least expect it. Your local restaurant customer market may prefers locally-sourced ingredients and an exclusive drink menu. Customers don’t know how much prices rise or fall, this is something they expect you to handle and we understand how difficult it may mean if your supplier raises prices unexpectedly and as a result you are faced with many challenges.
A Small Business Loan for a Restaurant, regardless if you are a Chinese takeout, Pizzeria and bar or a large bar and grill financing is essential. We have seen many restaurants who must take on an equity partner as a result and give up a large stake our of desperation just to keep their business afloat. Getting a good funding source for your small business will alleviate the pain of taking on a person who will give you money to invest in your restaurant but then take a large ownership position should not be an option. Since profit margins in restaurants are lower than many other industries its very import to carefully plan your finances with a great business plan for your food service establishment. A great Food Service loans may be the best choice. For even the busiest restaurants there will always be a challenge. Let us handle your business needs with regards to your restaurant. GROW with us and see the difference.
GROW business loans has many years of experience providing Small Business Loans for Restaurants, we work with large and small food service establishments. We can provide all types of business lending products. Contact us today for your FREE business funding consultation!
- On January 2, 2019