Seasonal Business Considerations
Jul 07, 2016
If you have a seasonal business, you may face challenges typically not encounters by a year-round businesses. After all, attempting to squeeze a year’s worth of business into a far shorter period can prove to be hectic. Here are some tips to help you deal with demands of owning a seasonal venture.
Cash Control All small business owners have to be careful cash managers. Strict management is particularly important when cash flows in over a relatively short period of time. One very important lesson to learn: Control the temptation to overspend when cash is plentiful.
Arming yourself with a realistic budget and sound financial projections, including next season’s start-up costs, will help you maintain control. In addition, you may want to establish a line of credit just to be safe.
In the Off-season It may be difficult to maintain visibility when you are not in business year round. However, continued marketing efforts and periodic updates via e-mail or snail mail can dramatically impact your client base. Such marketing efforts can also help you develop new leads and new business. When you re-open for the season, you will certainly want to announce the date well ahead of time. Maximize your efforts by utilizing social media to expand your reach.
Time for R and R Take some time for rest and relaxation, you deserve it. Nevertheless, you will also want to use this time to make any necessary repairs and take care of any additions or modifications. You can also use the off-season to shop around for deals on items you keep in stock and/or equipment you need to buy or replace.
Expansion Plans If you’re thinking of making the transition from “closed for the season” to “open all year,” start investigating new product lines or services. If you diversify in ways which are complementary to and compatible with your core business, your current customer base may provide support right away. A well-thought-out expansion can be the key to a successful transition into a year-round business.
Being the owner of any type of business has its rewards — and its challenges. We significant experience working with small business and would be happy to assist in any possible.
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