Owning a restaurant is a dream for many entrepreneurs. It can become a reality and a lucrative one with the right restaurant financing. In fact, in 2021, the food service industry generated £69 billion in the UK.
Union Business Finance provides restaurant loans for businesses that plan to expand a chain of restaurants or start a new restaurant with asset finance solutions. Whether you want to refurbish your entire cafe or revitalise your restaurant with new equipment, our financing is tailored to your business.
The food service and hospitality industry has been the most turbulent industry in the UK in recent years, however, since the pandemic the industry has grown and is expected to fully recover by 2024. Our financing can help your first foray into the industry or further develop your business to more locations.
A good restaurant creates an environment that customers want to come back to, which includes the full dining experience. Restaurant equipment finance can help with fitting out your kitchen or upgrading your dining room for the perfect atmosphere.
This could include:
Decoration of the dining room
Expansion of the dining room
Fit out of the kitchen
Food prep areas
Safety equipment, i.e. fireproofing
Point of sale (POS) systems
Union Business Finance can provide the right business loan for your restaurant. We consider all of your requirements and recommend what type of loan will work best for you. Restaurant loans are more flexible than asset financing in terms of what you can use them for, so they are ideal for training staff or applying for licences.
You can use business loans for:
Cash flow issues
New marketing campaigns
A business loan from Union Business Finance can help you manage the costs of running your restaurant. The basic business costs of running a restaurant, cafe or pub need to be managed correctly to assist with growth and when it comes to insurance, protecting your business from accidents, sickness or broken equipment is imperative.
Business insurance is critical for the operation of your restaurant. It will protect your business in the event of an accident involving the public or if your equipment breaks.
Your restaurant premises needs to be ready for all your customers. It needs to be in a good location, look inviting and be fully stocked with food and ready to operate at peak capacity.
Restaurant staff need to act and look the part. Even if you opt to recruit experienced staff, they need training and new uniforms to greet your guests.
An incredible looking restaurant still needs customers, so how do you get them? With a great marketing campaign! Make sure you get good marketing which can come at a cost.
A restaurant needs technology to ensure a smooth flow of service between the customers, waiters, bar staff and kitchen staff.
Loans from £10,000 - £5 million
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Our team brings a wide range of experience, thorough knowledge and understanding of the financial climate in order to help you find the best funding solutions.