The food services industry continues to be a tough industry for entrepreneurs to succeed in. Just like in the retail world, a restaurant may benefit from being located in a location with lots of consumer traffic. But that may not be the only ingredient to the recipe for success. Even in a prime location in downtown Montreal, we’ve witnessed three different restaurants unsuccessfully try their luck in the same location in a span of less than 5 years. This is all while other nearby restaurants had been thriving for several years in virtually the same location. Naturally, we concluded that the location wasn’t the issue. So we asked some of our friends who own restaurants (the successful ones…, sorry Max) why they were able to make it in that industry when so many others don’t. Their answers can be summed up as follows: “long hours, hard work, some luck, and most importantly being able to find enough cash to survive during the tough times, especially at the beginning”. Apparently one of the keys to succeeding in the food services industry is to have enough capital to run your business long enough for it to establish itself. But even after a business has been established and survived the first couple of years, it is by no means out of the woods. Even when they have long standing establishments, cash flow management continues to be a challenge for entrepreneurs in the food services industry. And to make matters worse for both new and established entrepreneurs, partly because of the industry’s high turnover rate, financing is very hard to come by. That’s why Cubeler is here.
Has your business been affected by Airbnb yet? Airbnb has turned virtually everyone with a house or an apartment into a competitor backed by a monster of a marketing machine to those of you in the hospitality business. If you haven’t felt the sting of Airbnb yet, you can bet you will at some point in the near future. But you probably have enough on your plate right now to worry about Airbnb. After all, you constantly have to be on the lookout for quality workers because they are so hard to find. You have to reduce costs while keeping or even improving the quality of your services (doing more with less…, what a concept!). Depending on the types and size of your establishment, you may also have to deal with labor unions. Not to mention traditional competition and ever demanding guests, who now expect free Wi-Fi and cable TV where ever they stay. So yes, we know that you have a lot to deal with, and we’re not here trying to tell you how to run your business. We’re on your side. We just hope that you’re keeping an eye on Airbnb and how hospitality search websites such as Trivago, Expedia and Hotels.com are shaping the hospitality industry. Airbnb and some of the larger hotel chains are using technology to their advantage and we want to make sure you’re in a position to fight back. You need to have the financial freedom to be able to adjust and perhaps take your game up a notch, and that’s something Cubeler can help with.
The Cubeler Advantage:
The small business lending landscape has changed dramatically in recent years. In addition to traditional lenders such as banks and credit unions, there are now literally hundreds of financial institutions in this country, most of whom you’ve probably never heard of, looking to extend credit offers to businesses just like yours. Who are they, where are they and how can you reach them? Well, you don’t have to worry about that because Cubeler brings them all to you, along with the more traditional banks and credit unions, on a silver platter. All you have to do is take a few minutes to register your business on Cubeler for free, and Cubeler will show you all of the pre-qualified financing offers these lenders are prepared to extend to your business. You will then have the option to review and compare the offer details, and select the one that best fits your needs whenever you’re ready. Thanks to Cubeler, it’s never been easier for small and medium businesses to get the financing they need to manage and grow their businesses.
Here are just a few of the benefits you’ll enjoy once you register your business on Cubeler:
For more on how Cubeler does all of this, please see “How it Works”