Living the Dream, Running a Successful Seasonal Business
An Interview with Todd Bryant, Owner of BuddhaLicious
Todd Bryant has had a more exciting life than most. He spent his childhood and early adulthood traveling around the US and internationally. His passion has always been food, and he’s been cooking since he was a little kid.
Before opening a restaurant, Todd went down the “practical route” and tried the regular corporate desk job, sales, and even worked for other chefs. In the end, he knew that the food industry is where he belonged and opening up a restaurant is what he wanted to do. Three years ago, in the beautiful Outer Banks of North Carolina, BuddhaLicious opened their doors. He chose his location for its tremendous growth in recent years. “Only about 10-20 years ago, the Outer Banks was an empty stretch of sand and now there are thousands of houses and hundreds of businesses.”
Because of the stark seasonality of the Outer Banks, many local businesses are only open for six months of the year. These seasonal businesses often rely on funding to bridge from one season to the next.
“Like most of the restaurants and businesses [in the Outer Banks] that are super seasonal, we require that shot in the arm in terms of financing to get through to the next season.”
When Todd was looking for financing, a friend who owns a local pizzeria, suggested OnDeck after having a good experience. Todd needed his funding quickly and even after his friend told him about the process, he was surprised and delighted that he had the funds in his account within a day or two of submitting his online application.
Over the past three years, his business has experienced growth over 300% and is expecting this summer season to be his best year by far. Todd feels access to the capital he needs to bridge the gap from season to season has been a contributor to that growth. He hopes to continue to grow his business and increase profitability to keep his restaurant thriving to serve the Outer Banks community for years to come.
For a seasonal business, it’s imperative to expertly manage your resources. From employees to inventory to capital, staying on top of your business needs is the best way to ensure your business succeeds from season to season.