When you’re running a busy kitchen, it’s hard to find the time to not only invest in your business but to understand which part of your business to invest in!
Once you figure out your end goal, a financial broker, like Busby Finance, will source the right type of funding to achieve your objective. There are lots of opportunities to grow your business, but we’ve pulled out 5 ways the right business finance will enable catering companies to take their next step.
1. Moving into suitable premises
Firstly, you need to figure out where customers are buying your goods. Do they enjoy a sit-down meal? Have you found that grab-n-go is more successful? Or perhaps, your customers prefer ordering food directly to their homes. Once you know where they’re shopping, you can buy the right premises to match their behaviour. Alternatively, you can look at Sales and Leaseback options which allow you to invest in restaurants, food vans, delivery bikes etc., and rent them back at an affordable price.
2. Marketing in the right place
A key part of expanding your exposure is ensuring your audience sees it! Business marketing is not just about emails and adverts; analysing your marketing efforts is also a vital part. Understanding where audiences are engaging with your advertising as well as which types of content, offers, recipes etc. they like and dislike, determines where to advertise. Whether this involves a marketing team or relevant software, a Business Loan can support your strategy.
3. Investing in efficient equipment
If you have a popular dish, i.e., vegan options, burgers or desserts, ensure you purchase the best equipment that’ll consistently cook your best sellers. With a Finance Lease or Hire Purchase, you can buy energy-efficient appliances and pay them back monthly. If your equipment is in high use, this will save you money and protect the planet in the long run. Up-to-date equipment is less likely to break down too, avoiding business downtime.
4. Hiring the right people
You’ll often hear the term ‘work on your business rather than work in it’. This is essential when moving to the next milestone. Although we’d like to think it, we can’t do everything, and there are other skilled individuals more qualified for specific roles. Whether it’s finding the funds to hire an accountant, project manager or employee, their expertise will add further value and allow you to focus on developing your business.
5. Protecting yourself and your clients
Your customers are trusting you with their personal information, and your client portfolio has valuable data to maintain and nurture your business. A data breach could be financially damaging as well as possibly losing the trust of customers. Not to mention the amount of time, stress and money involved to resolve the issue. Always invest in good cyber security, anti-virus and IT software to keep you and your clients safe.
How Can Busby Finance Help?
As we said, we’re dedicated to empowering our clients to reach their goals. We’ll take the time to get to know your aims and suggest the best financial solution to reach them. To start growing your business today, contact our friendly team.
