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.

It can seem like a never ending maze, but help is at hand. Here are some ways to ensure you find the perfect business loan.

Impartial Advice

First of all you shouldn’t seek advice from a business or organisation which is offering any type of lending service. While they may be experts in the financial market, they could try and persuade you into a decision which benefits them instead of you. There are plenty of places where you can get impartial advice which is tailored to your personal situation and business. Government organisations such as the Money Advice Service has lots of online resources and offers free advice. You could also hire a financial advisor to help you make important decisions.

Define the Purpose

It’s really important that you define the purpose of the loan before going any further. Business loans differ from personal loans because you will have to state exactly how the finance will be used. The purpose of the loan could also dictate the type of loan you apply for, for example a commercial mortgage is specifically for property investment, while asset finance must be used for purchasing business assets. Make sure you have done some research and know exactly how much you need to borrow.

Finance Broker

Once you have a better understanding of the range of business loans available, it’s time to find the right lender. A commercial finance broker can act as a matchmaker, pairing you up with the ideal lender. Not only could you benefit from their market expertise, but a broker will save you a lot of time searching the web and making phone calls to a number of different lenders. When it comes to loan matching, brokers know best.

When it comes to commercial finance, there are so many options and it’s easy to feel overwhelmed. It is possible to find the perfect loan for your business, just be sure to do lots of research and don’t rush into any decisions.

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What do you need to look for in a commercial finance broker? How do you know which company will offer the best deals and present you with all suitable options? How do you know which brokers are trusted in the industry and have been recommended by other businesses? Here are some top tips for choosing right broker for you.

Find a specialist commercial finance broker

You might not have a clue where to start when it comes to business finance – but if you have a general idea of the type of loan or funding you need, then find a broker which specialises in that. Most commercial brokers will be able to offer a wide range of finance options, but they may specialise in certain types. For example, there are alternative finance solutions experts which can help businesses match up with investors for peer to peer lending.

Make sure the broker is accredited

The financial services industry is very strictly regulated – and you should check if the broker is accredited by official bodies. Which organisations is it a member of? You’ll find that most brokers will make this information readily available on their website, and if not then it could be a sign to steer clear. Is the broker a member of the NACFB and the Financial Ombudsman Service? When brokers are backed by these organisations, it gives you peace of mind.

High acceptance rate

You don’t want to waste your time going through a number of brokers trying to find finance – so look for a high acceptance rate from the start. A commercial broker should be confident in their rate of success for obtaining funding for clients. If you’ve already been turned down by a traditional lender then you don’t want to keep being rejected, so pick a broker with a high chance of success.

Experience

How many years of experience does the broker have? What businesses have they worked for, and which lenders do they work with? It’s always a safe bet to choose a commercial broker which has relevant experience – read up on case studies and see what past clients have to say about them.

You could be putting your life in the hands of a commercial broker – be sure they are trustworthy.

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