You’ve finally made the decision. Your business needs to invest in itself. But this is not just any investment, no. This needs to be an investment that will bring in conversions, something that will notify the public of your business, turn their eyes toward your brand and get their feet in the door. You’ve even decided what you need – some great new signage for your storefront. Not only that, you’re thinking a total rebrand that involves buying all sorts of new signage and graphics for your company. However, your business has been having cashflow issues and you can’t quite scrape together the cash to outright buy something like this.
Of course, you can’t let this stop you, so you need to get the money somewhere. This is the sort of business expenses that you could probably go to a bank or a traditional lender for and get the credit you need in order to make the purchases, hoping that the money you make off of it will be enough to make the payments in time. However, this comes with its own issues. You don’t really want to stretch out your traditional lines of credit, unless you really need to. Likewise, getting a loan from a bank or another traditional lender for something like this is quite time consuming. It can take months just to get approved for the loan. And of course there is the question of getting approved in the first place. There are all sorts of reasons that going to a bank might not be the best decision.
Fortunately, there are other options. Oftentimes, the manufacturers of these products will offer their own financing options to you at significantly simpler terms than a bank would. Since they are the ones selling you the product, they can afford to be a little more generous in the risks that they take, hoping to see you pay them back with the extra money that the signage will generate for your business. They will also often allow several bulk payments for the equipment over a shorter period of time than a traditional loan. Of course, this will only be an option with large orders from some of the larger companies, as smaller companies oftentimes do not have it in their budget to do this and may not be able to fill the order in the first place.
If this option will not work for your business, chances are equipment financing would. These are companies that offer loans to businesses in your position. They usually secure the loan against the equipment you have purchased, that way if you don’t make payments they have something they can recover and at least receive part of their initial investment back with.
Finally, if none of these options will work for you, then chances are you just need to scale back your immediate expectations for this project. Instead of seeing it as an all or nothing, you could purchase some smaller, inexpensive sign options for the beginning of your rebrand and see what the ROI is on those. After they show a positive improvement in sales, you can go on to purchase more signage, having justified your assumptions. There are a number of different types of signage that would work for this. For instance, sintra pvc board is a very inexpensive material that can be custom printed to show whatever your company needs. You can have some printed with your new logo and whatever other branding options you need.
Chances are, there is a solution that will work for your business’ specific situation. All you have to do is be a little flexible and explore all your options. Finding the right partner for your printing needs is essential, as is understanding the terms of any financing options you may pursue. Once you have done all your research and spoken with a number of different companies, you can go forward confidently, knowing you have made the best decision for your company!