Cash Advance for Fast Food/QSR Restaurants
How to Get a Cash Advance for a Fast Food/QSR Restaurants
If you are the owner of a fast food/QSR restaurant you know the importance of speed and convenience for your customers.
One way to give them speed and convenience is by accepting credit cards. When you are a fast food/QSR restaurant that accepts credit cards, your customers are more likely to come back after their initial visit.
Most people don’t carry a lot of cash and you can take advantage of this by accepting credit and debit. In order to do this, you will need to set up a merchant account.
The first thing to do when setting up a merchant account is to find a good one. There are many great merchant accounts available online or you can try your local bank.
A bank will typically not offer merchant accounts to small businesses, but if you own several restaurants, you may be able to get a great deal from the back. You should make sure you are reading reviews of the company you are using for your merchant account as well.
Once you have chosen a few merchant account options, you will want to look at and compare the rates they are offering. This can be difficult at times because these companies will often times hide fees in the small print, so make sure you are reading everything when it comes to comparing rates and signing a contract.
Typical rates for a merchant account are discount rates of 2% – 3% and transaction fees of about $0.20 to $0.30 on average.
When you are ready to sign, make sure the equipment, like the point of sale system, is included. Now sit back and let the profits come to you!