Valentines, Easter, Eid, Halloween, Diwali, Christmas, Father’s, and Mother’s Day are just a few popular holidays, but they only come once a year? Also, Summer, Winter, Fall and Spring come once a year. How can your business, which relies on one of these holidays or seasons to sell your products or services, survive?
It can be hard to run a seasonal business which is profitable year-round. Seasonal businesses are one of the trickiest businesses to get into. Only brave, creative, and ambitious entrepreneurs dare to take on this daunting business.
Yet, there are ways in which your seasonal business can survive during your off seasons. Consider the following when running your seasonal business.
One way to make sure your business does not bleed money is to minimize expenses during the off season. Consider renting out your office or factory space to others who will use it during times you have no use for it. Think about asking for monthly payments from clients of your product or service. This way your cashflow is consistent year-round. Minimize advertising costs by only advertising three months in advance. But keep a presence online to sustain brand awareness. Offer discounted products and services during your off season. For example, it may not be Christmas or Halloween, but people often buy decorations during the off season and keep them for later to save money.
Use your off season to plan the busy season ahead. Take advantage of your spare time and research ways to improve profitability in times of peak sales. Prepare your employees for the busy season ahead and allow them to relax whilst they still can. You will require all their time and attention during your busy season, so create a balance by asking less of them during the off season. Remember when you are busy, save the money you have made. Saving money is essential in running a seasonal business.
Another way to keep your seasonal business profitable is by expanding your services and products. If you have a snow removal business consider getting into the lawn care business to keep busy during the summer months, and vice versa. If your business is seasonal think about the opposite of your service which is in the same field of expertise and incorporate that into your business to keep busy in a different season. Are you a décor company, or a holiday resort? Don’t only cater to one holiday of one season. Every season presents a new way, a new holiday to expand your business. These options might be a bit tricky but look at your competitors and see how they address their off-season times. Maybe there is something you can duplicate or improve on?
It is not impossible to run a profitable seasonal business. There are so many ways in which you can ensure your business doesn’t pass like the seasons of the year. Never give up and know there is value in your product and service even if it is just for a seaso
