Running a small business means facing a seemingly endless series of challenges, especially when you own a seasonal business. You may work in an industry that relies heavily on the holiday season for the majority of your profits. In these business models, struggling through the slower months of the year may leave you strapped for cash as the holiday season approaches, making it difficult to bring in the most revenue possible.
Small business financing is a fast and easy way to get a fast infusion of liquid funds to get your business ready for the rush. Without the capital you need to run your business, you could be in jeopardy of losing everything. Don’t let that happen. Take advantage of the benefits small business financing can offer with the financial services provided at Nextwave Funding.
Using an alternative source of funding can help you get through the rough times, so that you can focus on what your business needs to not just survive, but thrive.
With the money that small business financing can offer, purchasing the inventory you need for the holiday season is so much easier. Having cash in hand may even get you a better deal from your suppliers. The best part is, you have plenty of time to repay over time through your credit card transactions.
Advertising during the holiday can be crucial, especially if you are in the retail industry. Competing with big corporations is hard, which is why it is important to get your name out there. Remind your community and online followers that you are open and eager to earn their business. People want to support local businesses, so let them know what you have to offer.
Even if you cannot beat the deep discount prices an online chain store can offer, you may be surprised at the volume of business that comes your way. The holiday season is stressful, malls are crowded, and lines are long. Many consumers may opt for the warmth and hospitality of your business to get a break from the chaos and impersonal experience of mass consumerism.
Another smart way to get your business ready for the holiday season is by showing the public your holiday spirit. Decorating sets a festive atmosphere that is pleasant for customers and conducive for shopping. Make shopping at your business an experience. Create a visual window design that has people talking, offer hot cider or cocoa and cookies, play holiday music, hire someone to dress as a turkey or Santa, and make your store stick out from the crowd this holiday season. Have fun.
Without hurting your bottom line, figure out what special offers or sales you can run during the season. Everyone loves finding a good deal, and it’s up to you to make this happen for your customers. Whether it is discounting one item that is popular this year, having select merchandise no one else has, or providing redeemable coupons for the week after the holiday, it’s up to you to make your business stand out.
Increase in Costs
The holiday season often means longer hours. Whether it is to stock shelves, keep track of inventory, send out special orders, or extend the hours you are open, you will probably need to spend more money to operate during this time of year. Hiring part-time help or paying overtime may be unavoidable, which means you could need extra capital to cover the increase in payroll cost. Don’t wait until the last minute. Be prepared before the holidays arrive.