Merchant Cash Advances Help Companies Stabilize, Grow and Thrive in the Volatile High-End Restaurant Industry.
The party was electric. It had been one year since Sfuzzi re-opened in the trendy Uptown area of Dallas off McKinney Avenue, and the restaurant’s birthday celebration spilled onto the patio. The upscale Italian bar and eatery was reborn in 2010 after a 15-year absence.
It was a bold move by restaurateur Robert Colombo, president of La Reve Consultants. He already owned and operated four other high-end restaurant concepts in Dallas, and he had opened the original Sfuzzi 25 years ago. So he knew the market and the concept through and through. He also knew the fickle, youthful clientele that populates trendy Uptown restaurants were a tough draw even in a good economy – which this was not.
But looking around the room one year after opening, Colombo moved carefully through the shoulder-to-shoulder crowd that spilled onto the wraparound patio, and he felt good that he took the risk. Why? Because that risk had been mitigated by his careful planning, sharp sense of the industry, and his cash advance partner, Express Working Capital.
“We were going through some growth spurts where we needed some extra capital, and we were also going through a period of economic difficulty where the ability to quickly access short-term capital was almost impossible,” says Colombo, who has been in the business 35 years. “I can’t tell you how valuable it was to stabilizing the company, and now allowing it go into a very aggressive growth state.”
Restaurants make up more than half of Express Working Capital’s client base, and it’s easy to see why. The fast-moving restaurant industry demands operating capital at a moment’s notice – for payroll, investor payoffs, expansion, investment opportunities, etc. – and EWC has perfected a quick, efficient system to get small- and mid-sized business owners the business working capital they need to meet their market needs. It’s as easy as 1, 2, 3: make sure your current revenue is reasonable for the amount of cash you need; get your money within a week to 10 days in most cases; and make repayments by taking a tiny percentage of future credit card sales. It’s so simple, they’ve trademarked the process: they call it Convenience Capital™.
“The service we have received from Express Working Capital has been extraordinary: their response time is almost immediate,” Colombo says. “We’ve had situations through our credit card processor from one time or another that needed their involvement. They picked up the phone immediately, made the calls to the appropriate parties and got the results that we needed.”
Express Working Capital’s outstanding service and array of merchant cash advances means they can find a solution for almost any restaurant owner, from Karen Cason and her family, who own the Double C Steakhouse in Winnsboro, Texas, to internationally renowned chef Stephan Pyles, whose eponymous flagship restaurant in downtown Dallas is the centerpiece of his expanding culinary brand.
“Finding a partner like Express Working Capital has been a great asset to us to capture business opportunities,” says George Majdalani, managing partner and owner of Stephan Pyles Restaurant, as well as Samar by Stephan Pyles. “Because of Stephan’s high profile, opportunities presented to us are often unexpected, and we have to respond quickly to take advantage of them.”
When opportunity (or inspiration, or your lifelong dream) come knocking, that’s when EWC can help provide you the merchant cash advance you need to see your vision through. Then, like Robert Colombo, you can look back a year later and enjoy a packed house, knowing that each pizza sold or cocktail imbibed is painlessly helping you secure the capital you’ll need for your next success story.
Our Free, No Obligation Quote will get you started, and let you know exactly how our cash advance program will work for you and your business.
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