Cash Advance for Bars
Increase Your Cash Flow in Bars with a Cash Advance
If you own a bar, you probably know the importance of running the most efficient company possible. Bars need to have a fairly consistent cash flow and the only way you can do this is to accept credit cards.
Though it is true that you can accept cash, in bar, that certainly not the safest way to do business.
When you have mind altering alcohol involved, it is too easy for customers who may indulge a bit too much to remember to pay with cash. However, when you accept credit cards, you will be able to charge customers for the drinks and food they order at the end of the night, instead of running the risk of your customers walking out of the door without paying.
When you are able to gain control of your cash flow, you hold the key of running your bar efficiently. In times past, many bars offered a tab system where customers, especially regular customers are able to put their charges on one tab and pay it off at a later date.
The problem with this system is that many times the tabs end up being inaccurate, get lost or never get paid. The only way to solve this is to start accepting credit cards.
Though you can and should offer nightly tabs, you should only allow them when backed up by a credit card. Remember, just because you have the credit card, doesn’t mean you have to charge it.
The customer can still pay in cash if they like, in most cases.
When you have a good point of sale system in your bar to accept credit cards, you will find that it will be able to do the hard work for you, including scanning credit cards, keeping track of tabs and streamlining the check out process at the end of the night.