How to Attract Customers to Your Store in 2021

Sep 2021

May 2026

The world has moved into a brand new era of retail. COVID-19 has forced many businesses to move their operations online or risk bankruptcy. Such a drastic change in the global world of retail begs the question, do customers really want to visit retail stores in 2021? Well, let us be the first to tell you, yes they do. Online shopping might be convenient, but it can never offer the same experience as a retail store. So, with COVID-19 becoming more manageable in certain parts of the world, businesses have once again opened the physical doors for their customers and begun selling in stores. If you need to refresh your memory on how to attract customers to your stores in 2021, here are a few tips to help you out.

Cut Down on Customer Waiting Times

The number of COVID-19 patients may be decreasing, but the pandemic is far from over. People are still taking some precautionary measures, and the general public doesn't want to hang around your store waiting for their turn at the cashier. You should optimize the customer experience to make sure that individuals can come in, buy something, and leave within the span of a few minutes. This might not bring in new customers, but it will keep older ones returning.

Offer Incentives to Customers

E-commerce might not have the same feel. But, it's still superior when it comes to convenience. You need to give the shoppers an incentive to drive out to your store and actually spend time indoors. The world has gotten accustomed to shopping online, and you have to drag them out of their houses by offering incentives. This can be a coupon, a discount code, a buy one gets one free deal, etc. An example of this would be the Costco hotdogs. The store has been selling its hotdogs with a price tag of $1.50 since 1984. The company is honest about the fact that they're losing money annually because of the hotdogs, but it does give an incentive to individuals to visit the store and eventually buy products while they're there.

Curb Appeal

If you haven't opened your store in the past year or so, there's probably some cleaning to do. That's not all. You should definitely consider doing some renovating to offer customers a welcome sight. Also, keep your store clean and hygienic and make sure that your customers know that. Your visitors will always appreciate you abiding by COVID-19 SOPs even while the pandemic is declining.

Conclusion

Regardless of what strategies you employ to attract customers, it’s going to cost you and your business money. If you’re trying to get back up on your feet and regain some financial stability, 2M7 Financial Solutions can help you out. 2M7 offers merchant cash advances that can help businesses bounce back post-shutdown. We can provide your business with a merchant cash advance when you need it. Contact us today to learn more.

How to qualify for funding

Your business is located

IN CANADA

You’ve been operating at least

3 MONTHS

Your revenue is at least

$15,000/MONTH

And you have no open bankruptcies

YES, YES, AND YES - approve me for funding

July 29, 2020

May 12, 2026

5 Advantages of a Merchant Cash Advance

You’ve been researching financial options for your business. Now you’re wondering what the advantages of a merchant cash advance (MCA) really are. These five benefits show you just how helpful MCA could be.

A Merchant Cash Advance Is Flexible

One of the big advantages of a merchant cash advance is that it can be more flexible than a traditional loan. You may qualify for a larger amount, but you don’t have to take the entire sum. You can take what you need instead.

MCAs can also be more flexible in terms of how they’re repaid. Since they’re made on the basis of future sales, you’ll pay a percentage of your actual sales. If sales are low one month, you’ll pay less. When sales are high, you can pay your advance off faster.

MCAs Don’t Need to Be Big

Another great feature of MCA is that you don’t have to be looking for a large amount. Banks sometimes won’t approve business loans under $100,000.

If you just need a small injection of cash to keep the business floating, you may want much less than that. In that case, MCAs can be a great choice.

New Businesses Can Qualify

When you apply for a loan with the bank, they’ll likely want to see a business history, as well as a business plan. If you haven’t been in operation for quite some time, you may not qualify.

MCAs are evaluated on the basis of your estimated future sales, not what you did in the past. If you just opened up shop but need cash, a merchant cash advance can help.

The Process Is Simpler

Applying for a bank loan can be a long and complex process. If you need cash right now, then a merchant cash advance could be your best bet. It’s easier to apply for, and you’ll get approval sooner.

The Uses Are Endless

With a bank loan, you may need to declare a certain purpose. A merchant cash advance can be used to do almost anything in your business. If you need to fund payroll or want to invest in a special project, then a merchant cash advance could be the right choice.

Ready to discover all the advantages of MCA for your business? Get in touch with the experts and get the funds you need.

July 24, 2019

May 12, 2026

Top 3 Small Business Risks to Avoid

Starting a new business can be an exciting and exhilarating experience, but sometimes small business owners get caught up wearing too many hats that they stumble into common business pitfalls. Avoid risks in your organization by learning the top small business threats.

Lack of Legal Expertise

Smaller businesses may not have the in-house legal expertise to read over contracts and consistently ensure legal compliance. Whether you decide to hire someone with legal experience or find an outsourced partner, small business owners should always feel confident they are protected against legal action.

Liability Concerns (Personal and Business)

Small business owners have to consider all the types of insurance they might need. From personal liability insurance to cyber insurance and home-based business insurance, there are unique insurance risks small businesses face that shouldn’t be overlooked. Without proper insurance, one unforeseen accident could sink your business before you have the time to grow it.

Unforeseen Interruptions

No matter how well you plan, something is going to go wrong. Whether it’s a cash flow gap, unexpected work delay, or a flood, there will eventually come a time when you will need additional funding or capital to get through the interruption. While a business loan might first come to mind, consider a merchant cash advance to get funding faster.If you are looking for an alternative funding solution made for small businesses, consider how a merchant cash advance can help you get back on track. Talk to one of our experts today.

March 15, 2021

May 12, 2026

How to prepare your business for capital raised

You have worked hard to start up your business. After perfecting your presentation, you have been able to raise some capital. Congratulations! Now what do you do? Make sure you don’t waste this opportunity to launch your business right. Here are five ways to prepare your business for capital raised.

1) Know your “runway”

Your business’s “runaway” is the amount of time your business has before it runs out of cash. First, you should look at your business’s monthly expenses and your capital raised and then, determine how much time you need in order to gain a steady stream of income. Ideally, you will want your business to have a six-month “runaway.” With six months’ worth of operating capital, you can deal with various disruptions that will come with operating a new business.

2) Use a budget management tool

One of the best ways to manage your business is to use a budget management tool, and with the right budget tool, you will be able to manage your expenses and identify opportunities to save money and run leaner. There are a number of top budget management tools that are designed around start-ups. Some of the top budget management tools include the following: Quicken - Quicken is great for smaller starter-ups with its easy-to-use software and interface. Centage - If you have more complex operations, then Centage is an ideal budget management software system. Lola - Lola is a great budget management tool if you are dealing with a number of expense report.

3) Secure the best prices from vendors

You want to make sure that your capital goes as far as it can possibly go. Therefore, you will want to control your costs. One of the best ways to control cost is to be able to get the best prices from your vendors. Be sure to get multiple quotes from as many vendors as possible. Also, if you are planning to use a vendor for the long term, try to negotiate better prices to help you stretch your capital.

4) Have a business plan

It’s a good idea to have a business plan. In fact, a business plan is like a road map that shows everyone in your company, as well as your investors, what is your plan to grow income and become profitable. If you have no experience writing up a business plan, don’t worry. There are a number of business plan templates that you can use to help you get started. Here are a couple of places where you can find business plan templates:

5) Have an emergency or contingency plan

You want to make sure that your business has a plan for the unexpected. In fact, situations such as natural disasters or disruptions in manufacturing or inventory can spell disaster for your business. The best way to plan for an emergency is to set aside a portion of your capital raised and set it aside for emergency situations. That emergency money can save you in situations where you need money fast and you may not be able to raise further capital.

Getting your capital for your business going

Now that you have the capital that you need for your business, it is time to get going. Be sure to have a plan, set a budget, and watch your spending. Also, spend your business capital the right way and you will be well on your way to start-up success. If you require a merchant cash advance for your business, 2M7 Financial Solutions are here to help you out. Request a quote, we will be happy to assist you.