Cash Advance for Bakeries
The Benefits of a Cash Advance in Your Bakery
It is very hard to own and operate bakeries and the vast majority of all bakeries that are established end up failing. One of the reasons this happens is lack of cash flow. If you are the owner of one of the many bakeries in the country, accepting credit cards can not only help save your bakery from failing, it could offer many other benefits as well.
Bakeries are generally straight forward when it comes to owning and operating on paper, but in real life, there are a multitude of things that can go wrong and most bakeries fail because of lack of planning ahead.
If something happens, for instance your oven breaks, and you don’t have the cash on hand to immediately replace or fix it, what happens? You must get financing which can take a long time.
Being unable to produce goods for that length of time can be extremely difficult and even devastating for a bakery, but when you accept credit cards, you will have immediate cash flow all the time.
When you only accept cash or checks, customers will larger orders will likely pay with check, which can take many days or even weeks to clear in some cases. Until it clears, you will not have access to your money. This can be extremely beneficial when you sell custom made cakes or even wedding cakes. Being proactive to your customers wants and needs, as well as offering the convenience of accepting credit cards will make current customers very happy and may even bring new customers into your doors.
If you are interested in setting up an account to accept credit cards, begin looking for a merchant account as soon as you can. There are many companies who will offer merchant accounts for bakeries and the sooner you set one up, the better off you will be.