Capital One’s Power of 2 Contest: Small Businesses Utilizing Cash-Back Rewards
Capital One recently launched their Power of 2 Contest, inviting valued small business owner customers to share how they use the cash-back rewards from their Spark Cash Card to fuel their business, take care of their employees, and ultimately gain that competitive edge. The submissions are still open until November 3rd!
In this article, we highlight a few notable small businesses who have taken their 2% cash-back rewards and harnessed them to their full potential.
Michael Lenard- TaKorean
When Michael Lenard set out to found TaKorean in 2010, he kicked off his start-up with humble beginnings- few financial resources, a 1985 step van he converted into a food truck, and a hunger to fulfill his dream of opening a South Korean/Mexican-inspired fusion eatery. Michael established TaKorean on a foundation of passion for healthy, well-balanced, accessibly priced meals, and a drive to research, understand, and appreciate other cultures.
After receiving Capital One’s cash-back rewards of $6,000, Michael invested in Research & Development Travel and travelled to Mexico and South Korea to research the food, architecture, and culture. On the trips, Michael and his creative director got introduced to new dishes that allowed them to gain perspective on the flavors they want to offer customers, as well as new architectural concepts that allowed them to develop a unique design and experience.
Brendan Cooke- OperaDelaware
Based in Wilmington, OperaDelaware, founded in 1945, is the only professional opera company in the state of Delaware and the 11th oldest in the country. As a non-profit arts organization in a world where governmental support for arts organizations are down and philanthropic resources have shifted to humanitarian causes, OperaDelaware has struggled to find alternative sources of funding to achieve its mission of “Opera for Everyone.”
Capital One’s Spark Card has been instrumental in the continued operation of OperaDelaware. Brendan, the General Director, uses the Spark Card for everything from costumes and props, to insurance payments and airfare for their artists. As a result, their audience sees bigger sets, brighter lights, and better productions. With Capital One’s support, they’ve expanded their marketing initiatives, attracting thousands from outside the area.
Jim Holman- The San Diego Reader
Founded in 1972, the San Diego Reader is the largest alternative press paper in San Diego County with a circulation of 90,000. The Reader is known for its coverage of arts, creative nonfiction, and literary style of journalism. The Reader is distributed for free to stands throughout the county; instead of sales, it relies on ad revenue to yield earnings.
However, small businesses have been increasingly cutting back on advertising, which has been a problem for the CEO and publisher Jim Holman. That, along with an increase in printing costs, meant that profits were down, and it was looking like the annual Christmas bonuses weren’t going to happen.
Thankfully, Capital One saved the day. With the cash-back rewards of $10,000 from Capital One Spark Card, The Reader was able to continue with its tradition of giving Christmas bonuses to its employees.
How to Participate in the Power of 2 Contest
Remember to share your inspirational story to the Capital Power of 2 Contest for your chance to win first prize of $50k, second prize of $25k, and third prize of $15k. The contest is open to residents who are Spark cardholders, 18 years or older in the 50 US states and DC.
In conclusion, small businesses can leverage the power of cash-back rewards to accelerate their growth and competitiveness. Capital One’s Power of 2 Contest presents an excellent opportunity for small business owners to share their success stories and stand a chance to win cash rewards to achieve their business objectives.