Here are four ways your auto repair shop can benefit from Merchant Cash Advance
1. EXPAND YOUR SERVICES
You may be familiar with the auto repair shop experts at many shops. They say “automobiles are being built better, and as we all know, service intervals are constantly being extended by the manufacturers. Although this is all good for consumers, better-built vehicles means they’ll need fewer repairs, and extended service intervals means you’ll be seeing your existing customers less frequently in the coming years.”
It takes money to send your techs to advanced training. But you need every competitive edge you can get these days. many shops recommend three essentials to continue building your auto repair shop business:
- Check out every opportunity to offer new services for your customers
- Make sure your service advisors are very well trained
- Develop and implement a marketing plan that is strategically targeted to the customers you want most
Small business Merchant Cash Advance’s can give you working capital to support all three of these recommendations. You’re investing in your future by making your shop more appealing to customers.
2. EXPAND YOUR FACILITY
Sometimes you need more space as well as more expertise. Merchant Cash Advance are ideal to fund expansion. You can use the money to:
- Enlarge your shop space to serve a higher volume of customers
- Build a new facility, or add a second location
- Upgrade your customer waiting area.
These upgrades will help you earn more revenue. That means more working capital for other improvements. Upgrades also help retain customers. A clean, comfortable waiting area implies your working space is clean and up-to-date, too.
If you expand, you’ll need more equipment for your auto repair shop, too. There are small business loans for that. But should you lease the equipment instead? Either option helps preserve your working capital. You’re making daily payments instead of paying cash up front.
3. QUICK RECOVERY
Things go wrong. Usually at the worst time. Equipment quits on you. The water heater breaks. Your tow truck breaks down. Working capital loans can be a fast fix. You can get the money you need within a couple of days. That reduces expensive downtime and keeps customers happy.
Sometimes you need money quickly to capture an opportunity. Your parts supplier is offering an “early bird” special on snow tires for your winter inventory. You can save money by spending now. Without a Merchant Cash Advance, you could miss this opportunity.
4. SMOOTHER CASH FLOW
You need working capital to operate your shop. Payroll. Overhead. Marketing. You have regular monthly bills. The problem is, your cash flow is not regular. If you do auto body work, you have to wait for insurance company reimbursements. They’re slow. No matter what type of work your shop performs, you cannot predict customer volume. Sometimes income is high, sometimes it’s low. Small business Advances smooth your cash flow. That way you can stop worrying about paying your bills. You can focus on building your business. Call or email CMCA Finance today.