Whew! The fast pace of summer business has slowed down giving business owners a chance to re-group and prepare for the upcoming rush of the holiday season. October can be a slow business month, especially for retailers and restaurants. This can make it the perfect time to address your holiday business funding requirements. Do you have the right level of funding on hand to accommodate the holiday rush?
A profitable holiday season is crucial to the success of most retail stores and restaurants.
In order to maximize your profits, consider the following:
- Inventory really should be well stocked and ready for the earliest holiday shoppers! The good news is that many vendors offer attractive discounts starting in the month of October. Take advantage and stock up! Check with your suppliers to see what types of discounts are offered. Furthermore, you should ask for discounts if you typically buy in bulk.
- Increase your marketing efforts during the busy holiday season! Consumers are bombarded with message of all types from print ads, online ads, mobile apps, radio and TV ads. All of these message compete for their attention and business. Be sure you are heard above the rest! Consider multiple communication touch points. Speak with your marketing company now to brainstorm creative and see if they will provide a discount for early payment on your holiday ads.
- Do you have enough staff? There is nothing more frustrating than filling your business with customers, but losing the sales because you do not have adequate staff to service them. Hire seasonal staff early enough to train them well. Having enough salespeople or servers means nothing if they cannot do the job properly.
Don’t let limited cash flow hinder your holiday sales! Speak with a business consultant at National Business Capital to learn about our financing programs!