Known for high failure rates, steep competition and massive overhead, the restaurant industry is notoriously risky. However, every day new restaurateurs ignore the statistics and charge forward with dreams of success in their sights.
It is no wonder why restaurant owners must have solid financial footing if they expect to turn their dream into a thriving business. There are many different restaurant financing options out there and choosing the right solution depends on your restaurant’s specific needs.
Would you benefit greatly from a business loan or merchant cash advance? Or is a line of credit more suitable?
Before we explore each financing method, let us first address the major reasons why your restaurant can benefit from a slice of capital.