Monthly Archives: December 2016

Boosting Your Christmas Holiday Revenue

christmas-blogWe know what Christmas means to business owners. It is busy yet full of opportunities. If you play your cards right, there is a lot that you can do to generate higher sales and reap more profit. The secret lies in being proactive, rather than sitting back and waiting for some Christmas miracles! If you want to boost your holiday revenue, it is up to you to take charge and make it happen. Have a quick look at the points below and let us help you get the best out of this Christmas holiday.

Get Into the Festive Spirit

Make sure you seem as excited as your customers are in welcoming the holiday. Put up your best Christmas decoration, play Christmas tunes, and invest in Christmas extras such as candy canes, Santa hats, and perhaps tiny presents for your regular customers. Make your venue a “happy place” for your customers by always staying positive and ensuring that it is always kept clean and tidy. More importantly, make sure your employees are always enthusiastic and passionate when serving your customers!

Free Gifts to Build Your Mailing List

One way to entice potential customers is to offer something free of charge in exchange for signing up to your mailing list. Since customers are generally in a good mood during Christmas shopping seasons, it is easier to lure them to join your mailing list especially if they have an incentive to do so! The gift may be as simple as a coupon offering a couple of dollars off or a special deal during the festive period.

Holiday Offers In Exchange For Reviews

Considering customers rely on online reviews more heavily than they do with paid advertisements, getting your customers to write positive reviews on the internet should be a priority. But again, getting them to write a review can be tricky. . Since Christmas is the season of giving, provide your customers with some interesting offers or free gifts in exchange for the reviews that they give you.

Manage Your Working Capital

We all must be familiar with the saying “you have to spend money to make money.” Thus if you are aiming for higher sales during the Christmas period, you might have to spend extra cash to hire more employees, increase your marketing activities, as well as to manage your inventory. To ensure that you have enough capital, take a look at all of your expenses and try to find any reoccurring costs that you can decrease. A slight reduction in certain costs can have a huge impact on your profits!

Use Email Campaigns

Whilst social media marketing is important, email campaigns still win as the most disruptive method to reach and lure your customers. With this in mind, you can promote your Christmas activities and offers through these emails. Whatever email you send out, make sure to make them as personal as possible. Make your customers feel special by emailing them offers and discounts that are only available to them and not the general public. It is hard for customers to resist a “you’re special” message especially during Christmas seasons.

But Remember… You Have To Stay True To Your Brand!

Whatever activities you do during Christmas seasons, make sure they align with your brand. If you are a small business catering to a niche market, do not try and do things that are outside of your business’ capability or you will end up spending money you would not be able to recover. Whilst it is understandable that you want to make your customers feel special during Christmas seasons, make sure that you are not overdoing things and that you are still staying true to your brand.

If You Are Looking To Renovate Your Venue, Make Sure To Ask Yourself These Four Questions

renovation-blog-postAs 2016 is coming to an end, some restaurant owners may be thinking of renovating their venues to start fresh in 2017. Although renovation and remodelling can be daunting, they can potentially increase sales and traffic. Since the cost of renovating can be quite significant, we suggest you to ask yourself these four questions and build a strategy to guide you throughout the whole process.

When is the right time to renovate?

You should not wait until it looks like it’s time to renovate. Instead, you must know ahead of time what work needs to be completed. That’s why you should always keep an eye on the trends that might affect your business, as well as predicting them so that you can plan ahead. If you are seeking for a rule of thumb, many restaurant professionals recommend a facelift every four to seven years.

What is it that my customers want?

To do this, you must examine the demographic trends in your local area. For instance, if you notice a growing number of trendy and young customers in your area, you might want to opt for a modern/casual design. On top of that, make sure to pay close attention to your competition and ask your customers about their feedback on what would make your restaurant more appealing.

What’s the impact on my cash flow?

Putting an exact price on your renovation can be quite tricky, although industry benchmark for restaurant renovation ranges from $30,000 to $100,000. Before committing to any remodelling or renovation, make sure to review your financial situation to determine the scale of the operation and to anticipate future disruption on your cash-flow.

Where can I get the proper financing?

Considering renovations can cost a pretty penny, it is important to look for outside financing to complete the project. Commonly, restaurant owners turn directly to banks for loans, which is usually a very lengthy and confusing process. Especially with banks’ tight regulations and risk-averse nature, banks often reject these financing applications due to various reasons namely lack of collateral or inadequate cash flow to repay the loan.

Fortunately, there are other financing options that might actually minimise the hassle and confusion that you’ll have to go through. Independent financiers like Geared Asset Finance can provide you with a competitive and personalised funding solution. Since they do not usually require bonds or deposits, you can get the equipment you need now without having to restructure your cash flow! In addition, as opposed to bank’s lengthy process, these financiers can simplify your financing process and approve your application at a much quicker rate.

If you are planning to renovate your venue soon, do not forget to call us and we will show you how we can help! 

All You Need To Know About Referrals

referralGeared Asset Finance, like many other businesses, relies on referrals from our clients, vendor partners and connections to generate business. We strive to provide our customers and vendor partners with a competitive finance rate, the right finance solution, and the best possible service. Our aim is to offer our expertise and skills to make obtaining finance an easy experience for all our customers.

Our goal is to meet our customers’ expectations and in most cases exceed these expectations! By doing this we build confidence and build trusted relationships with our customers – this is an important factor in that they can refer us to people in  their contact sphere who may  require equipment and motor vehicle finance.

Our business is a great believer in referrals, and the best kind of business for us is to receive a referral from an existing client to one of their contacts because they have been happy with the way we have organised their finance, and provided them with a stress free experience.

Our company supports and is a part of many networking groups where referring business to each other is the main aim.  One of these groups is BNI (Business Network International), whom we have been involved with for more than 6 years.  The philosophy of BNI is ‘Givers Gain’ – if you give business to others, they will refer business to you in return.  It’s a philosophy that we follow at Geared Asset Finance.

People refer to others they know, like and trust – this is an important factor in referring business. Working with referrals from our clients means that we are also accountable for what we do and the way we conduct our business.  You would not refer to someone who is not reliable or does not show the initiative to assist you with finance, would you?

We have the expertise and the experience in the industry holding solid accreditation with most of the major banks and finance companies, hence the ability to offer our clients the right finance product.

Referrals from our customers are one of the greatest compliments to our company and the lively hood our business.

Several of the connections from referrals received from our customers have become key referral partners and these connections have brought about long standing relationships with ongoing business.

We greatly appreciate and thank all our customers and vendor partners for your support throughout 2016 and for you recommending our services to others.

Written by: Caryn de Silva
Caryn has over 20 years experience in the finance industry. Caryn brings extensive skills in the area of sales origination, business development and particularly in the field of partner networking. Caryn offers the business a strong level of expertise gained within the finance industry drawing on her diverse understanding of credit, business development, and client retention. 

Is It Time for an Office IT Upgrade?

12522943_935848663157781_8276908938821321771_nWhen it comes to technology, it is important that you are not letting your office fall behind. Since we know that upgrades can give you headaches, we would like to help by giving you some tips about investing in the right technology and choosing the right time to do so. We recommend that you keep the following in mind before committing to any upgrades:

Do I really need an upgrade?

First thing first, you must evaluate your current operations and the cost of maintaining your existing equipment. It is generally more expensive to take care of older machines, as they require more energy (and money!) to fix and are far less efficient than the newer ones. If you realise that your current equipment is costing you too much, it’s time to upgrade.

What do I want to achieve from the upgrade?

It is important to think about the goals that will help you determine the kinds of technology that your business need. Since your employees will take part in this upgrade, include them in the decision making process by asking them what improvements would be useful.

Research, research & research!

Do some research about the new IT products available in the market and understand how they may benefit your business. Remember, you do not want to waste money on upgrades that you don’t actually need!

Would the upgrade require training for my employees?

Some major upgrades may come with training for your employees, and this could be time consuming. If you decided to upgrade your IT equipment, avoid doing it during peak periods. Commonly, holiday seasons are appropriate for tech equipment upgrade.

How am I going to fund the upgrade?

Are you going to use your own capital? Or are you going to seek for other financing options? You have to be smart when deciding how you are going to fund the upgrade as this may cost your business quite a bit of money! Remember, financing helps you get the equipment now so that you can focus on growing your business.

If you are seeking to upgrade your IT Office equipment and are in need of financing help, do not hesitate to contact us. We have the options and solutions to help you obtain the IT & Office equipment that you need now at a very competitive rate.