Dry Cleaning / Laundry Services

Keeping People Looking Good

You have a very difficult business. People love their clothes and expect you to keep them looking new. Your customers expect you to get out every type of stain imaginable and have their clothes back in as short a time as possible. Customer service is an important aspect of your industry. You have to be able to balance customers' expectations with feasibility and keep them happy. If there is a complaint, you have to find a way to take care of it to their satisfaction while still maintaining a profit, often knowing your store wasn't the cause of the complaint. This economy has hurt business for entrepreneurs across all industries. You've felt the impact as your customers search for new jobs or fear for the loss of currently held jobs. People create strict budgets and skimp on professional cleaning services. Often times they use alternative home methods with sub-par results. There is a way to bring in more business for your dry cleaning business and a Merchant Cash Advance can help you find it.

Increasing Profits in a Dry Economy

Customers haven't stopped spending money, they've merely changed the way they spend it. Economists recommend that small businesses adapt to the changes in their customers' spending habits to keep profits up. There are a number of things you can do to improve the sales of your dry cleaning store. What you should focus on is what will make you unique. There are probably other competing dry cleaners in your area and just offering lower prices isn't enough to be unique. If another dry cleaner offers lower prices you've lost your competitive edge and will have to lower prices. This can continue until one business goes bankrupt. Instead, pick a service you can offer that no one else in your area does. Home pick up and delivery, a newer sorting system to increase speed and accuracy, a method of dry cleaning no other store offers, brochures for home pre-treating stains, etc. And you will need to advertise to the local community about your new services. All of these options will require some working capital to fund the changes. You may be considering a traditional small business loan, but you are certainly leery of the disadvantages.

A Loan Will Just Take You “to the Cleaners”

Banks have tightened their restrictions across the board, making it harder to apply for small business loans. Loan officers not only look at your business when considering credit, but your personal credit as well, usually requiring a minimum score of 700. You certainly will need to pledge collateral, but a bank probably won't accept anything in your store. You are probably leasing your business space so you can't use that, and most of the equipment specific to your industry can't be readily sold for profit by the bank. So you will need to pledge your home or some other asset. Loan officers can restrict how the credit is to be spent, often times wanting a detailed written explanation of how the money will be used. And if the loan is approved, it can take up to several months for you to be able to use the financing. This is why a Merchant Cash Advance is such an advantage to you. It overcomes all of a loan's deficits.

The Better Solution

A Merchant Cash Advance offers you a unique opportunity to finance improvements and changes for your business. The application process is simpler because the restrictions aren't as strict as a loan's. When your application is approved you can receive your cash in as little as a few days. You are free to use the cash however you need to. And perhaps most beneficial to you is that a Merchant Cash Advance isn't paid back the same way as a loan where you have to make the same payment every month. With an advance your repayment is directly linked with how well your dry cleaning business is doing. A small percentage of only debit and credit card transactions is automatically transferred to paying off the advance. No other form of payment is necessary and many business owners pay off their Merchant Cash Advance in less than a year! Because the repayment is based on a set percentage, the pace of your business determines how much is paid. Once your advance is paid off, that's it.

Contact Fastpoint Financial Now

Let Fastpoint Financial be your path to financial success. Fastpoint Financial can handle your Merchant Cash Advance and their simplified application process and friendly staff will have you wondering why you ever considered a bank loan. Start your application today and get ready to receive all the working capital you need to improve your dry cleaning business.