The hottest new app that is pleasing NYC restaurants and diners is HungerPass. HungerPass helps restauranteurs fill their restaurant during “non-peak” hours, whilst giving diners a discount for booking tables. This technology is great for all involved, but it can be tough for a struggling restauranteur to get involved in this new trend.
While HungerPass isn’t the most expensive marketing method, it can be costly. Being featured can cost, and with the discount you are giving your customers for booking, you may be losing out on some funds. However, the joy of having a full house on a typically slow night can ease your fears quickly. With online reviews driving the restaurant world thanks to Yelp, Instagram, and Foodspotting, you can ask customers to help you in getting the word out by snapping a picture of their food, or writing a quick review.
While online marketing is typically free or very cheap (i.e. Facebook and Instagram postings), the first step, i.e. being featured on an app such as HungerPass, is often costly. While the upfront fee is well worth the business brought in, the upfront fee is often the problem. Even if a restaurant is struggling, staff must be paid, food must be purchased, utilities and rent must be paid. Just because your sales are struggling doesn’t mean that you must barely float on in business. There are ways that you can obtain cash that you need to better your business, be it investing in HungerPass, or other business betterment.
You need to look for a restaurant cash advance program, like the one offered by FAM. Unlike a bank loan, a restaurant cash advance is an advance on your future sales. Also, there are no tax filings at the end of the business year, since this is not a loan. The application process is simple for those with FICO scores over 500. Merchants can receive their funds in as little as 72 hours. And unlike a bank loan, payments are held from your credit card transactions daily, to minimize the fuss of making one huge monthly payment. If you are in need of business funding, a cash advance could be your best option.