Restaurants Can Grow the Economy One Cent at a Time
By: The Funding Team
Jobs, Jobs, Jobs! No one in government can figure out how to create them or where to start. That’s a shame because the answer is painfully obvious. Restaurants. One out of every ten employed Americans works at a restaurant and there’s no better place to create more jobs than where so many of them have historically been made. Dining out can’t be replaced by robots, machines, or computers. A fresh cooked meal can’t be outsourced to the Philippines, nor can happy hour be experienced over FaceTime. And let’s not forget that we all need food to survive.
If that isn’t convincing enough, we’ve got access to data that not only proves our point, but can also be used as an inspiration to get started on job creation this very moment.
That National Restaurant Association (NRA) is frequently doing research in their industry and they have put together some impressive statistics. Though they present them in the simplest of terms, it’s enough to draw some very valuable conclusions.
Did you know that if every restaurant in Alabama earned 1.2 cents extra a day in revenue, it would create 1 job in their state? What if they all managed to earn 5 cents extra a day? A dollar? $100? These statistics can be drawn to scale. For every $1 Million spent in Alabama restaurants, 32 jobs are created there.
Using the NRA’s data, we calculated how much each business would need to earn in additional revenue on a daily basis to create jobs in their state. We explained the math through Alabama in an earlier post. Click the image below to see data on all 50 states and D.C.:
Every additional cent made per day, not only grows your own business, but ultimately puts one fellow American back to work. That’s the most capitalistic, patriotic thing you can do. What’s good for you is good for everyone.
You might find yourself wondering how to increase your sales if you aren’t sufficiently capitalized. More than likely your bank left the restaurant loan business three years ago, but our industry hasn’t. More than one out of every three small businesses that uses Merchant Cash Advance (MCA) financing is an eating or drinking establishment. Good credit is not required, there’s no repayment due date, and no collateral needed.
We believe that rebuilding America starts with our restaurants and now is a great time to get started. It will only take a couple of minutes to find out if you qualify and we’re excited to be a partner in your success.