With the rise and adaption of mobile communication and browsing technology, consumer habits have also changed. Increasing numbers of people ‘shop on the go’ – they don’t want to go to different stores and shops to get what they need if they can see what is available on a little screen.

Why should you try fusion retailing?

Fusion retailing allows consumers to mix and match goods and services depending on what they require. As the high street evolves, large retail outlets such as Debenhams, House of Fraser and Next will have to meet changing consumer demand, otherwise they will disappear.

It also means that smaller independent stores will increasingly find more opportunity to develop and flourish in the gaps which will inevitably appear.

What is a fusion business?

Tesco, Asda and Sainsbury are all examples of a fusion store which has evolved from small independent chains of grocery stores into megalith retailers. Thousands of products and services all of which are linked by a single thread – everything a consumer needs under one roof for under their roof.

A fusion business is one that sells many products and services all of which are connected by a single thread. However, the aforementioned examples do not sell a wide selection of specialist goods and services. This is why over the next few years, small independent stores that are able to fill in the gaps, will be able to build up a loyal following, transforming the high street in the process.

Innovation

It is better to have a fusion business because you can get creative and let your imagination run wild as much as you want. Fusion business can hold your ideas together without ripping apart at the seams. For example – when you want to have pottery next to kitchen utensils it is possible because it can fall under one theme: home and lifestyle.

Loyalty

When you are a one-stop provider, most likely your customers will use your brand for everything he orshe needs than transfer to another business. Even if the other goods/services the consumer needs from you is priced higher than another competitor, the most likely scenario is that he/she will stick with you.

How to do it?

Think of a business plan with a singular theme. Then, you can combine eclectic products and services that harmonise well and centre around that particular theme. Example of themes can be beauty, fashion, or lifestyle. It is up to you what goods/services you want for your fusion business

There is no time like the present. Fusion retailing is a developing trend which has great potential.

The high street has exciting times ahead.

Our team at Genie Lending are dealing with a wide range of business and retail enquiries each week. We’d love to speak with you – so fill out our enquiry form or give us a call today.

The post What is Fusion Retailing and Should You Try it? appeared first on Genie Lending: Business Loan Alternative Finance Specialists.

As an alternative finance solution, a merchant cash advance is available to businesses which have processed credit and debit cards for four months or more. It provides a fast and short term finance option, calculated by the average monthly card turnover. This type of finance is a perfect fit for pubs, restaurants, beauty salons, hotels and shops – but many other businesses can benefit too.

There are many advantages of securing a merchant cash advance – here are the top reasons to choose this alternative finance product.

Revenue based payments

One of the best parts of this solution is the flexible repayments. Because the finance is loaned from the amount of card payments, the lender will take a percentage of your revenue rather than a set monthly amount. Sometimes, other non-related card income is also taken into account. This means that this type of loan really works alongside a business – in months with higher sales you’ll pay back more, and when you’re having a quiet period your business funds won’t all be spent on repayments.

Likely approval

MCAs are based on positive cashflow rather than credit scores and risk evaluation. Therefore, lots of businesses that have been refused traditional loans will be eligible for this type of finance. If you take card payments on a daily basis, you will be able to make your repayments, so there’s a high approval rate.

Immediate cash

Typically, applying for a business loan is a long and tiresome process – even when you’ve been approved it can take weeks to receive the cash. With a merchant cash advance, you’ll benefit from almost immediate finance. Using a very quick application process using your card receipts, you could receive the sum in a matter of days.

Seize opportunities

Because MCAs are relatively easy to get and fast to process, they can help businesses take advantage of market opportunities. For example, if a company knows sales are going to increase (such as the busy Christmas shopping season) and need to buy stock or improve their premises, they can find the cash to do so while knowing they will be able to pay back the finance. Similarly, if there is an out-of-this-world discount on something you need to buy, it makes sense to buy it on the spot rather than saving up over time.

Would you like to find out more about merchant cash advances? Get in touch with our alternative finance experts.

The post The Benefits of a Merchant Cash Advance appeared first on Genie Lending: Business Loan Alternative Finance Specialists.