Are you looking for fast capital to keep your catering business running? Are you in need of repairing or expanding your catering business and need money today? There’s over 135,000 catering businesses in America, generating over $12 Billion dollars per year. Catering is big business and has returned to pre-pandemic levels. Is your business in need of a same day catering business cash advance?
What is a Catering Business Cash Advance?
A catering business cash advance is a sum of money advanced to you based on your cash flow. Business cash advances are a form of merchant cash advance which typically withdraws from your future credit card transactions of your business.
A business cash advance looks at your general business revenue which is more convenient for businesses who don’t accept credit cards. Business cash advances and merchant cash advances are favorable, as opposed to big banks, because you can get a cash advance within 8 hours.
Why choose a Business Cash Advance
The main reason catering business owners choose a business cash advance is for the immediate funds. Another great reason is that you typically only need a 450 credit score and you don’t have to put up any collateral.
Big banks are not lending like they used to, if at all. It’s just as easy for a large bank to only work with businesses that have impeccable credit and are requesting $20 million dollars.
Small businesses are being decimated at an alarming rate, on top of the normal 500,000 which close their doors every year in the United States.
A business cash advance is the only alternative for a lot of businesses who need working capital today and might not have a perfect credit score.
Growing your Catering Business with a Business Advance
Since catering businesses are big businesses, you are competing with large corporations, like Aramark and Compass Group. You have to think about your uniqueness, rather than mass production. What sets you apart and can place your catering business on the map? Here’s a few quick tips:
One) Business is all about internet equity. How visible are you on the internet? Do you have a facebook business page, a thriving Instagram, and a Youtube channel with 12,000 subscribers? If not, you are leaving a ton of money behind.
For example, here’s the power of Youtube: The highest earner on Youtube is a 7 year old boy who reviews toys in videos. He made $20 million last year just from Youtube alone, not counting all the endorsements from toy companies.
You can hire a Youtube marketing firm, or a video production crew from Craigslist and start spotlighting your catering events and the dishes you serve there. You can also take high-definition pics of your food platters and post on Instagram and pinterest.
Two) Get Reviews! Most people look at online reviews for hiring a catering service or even before going out to dinner. I know I do! You need to start getting reviews. You can offer discounts to any clients who leave reviews on Yelp or Facebook for you. It will make a big difference in the long run. Most large corporations have crappy reviews online because they are just looking for the bottomline, not giving personal attention to each guest.
Three) Go Vegan/Raw. If you operate close to a city, chances are that people are more health-conscious than the rural countryside and want vegan or raw food options. One of the biggest Raw meal kit providers online is called Rawvolution. These guys are so fancy and appealing! You should check out their menu for some ideas before creating another menu. Think outside the box. What exotic food can you create that won’t break your budget? Simple pairing of a few ingredients goes a long way today!
Applying for Your Catering Business Cash Advance
Getting a same-day catering business cash advance through us is easy and fast. You only need to have a credit score of 450, be in business for 6 months, and have a business checking account. It takes 5 minutes to apply and won’t affect your credit score.
I wish you all the success in the world with your catering business! I am a foodie myself and worked for almost 20 years in the back-of-house of several restaurants in the Pacific Northwest where they take food very seriously!
Learn More About Our Business Cash Advance
Erik C. Johnson
Independent DAC Agent