Getting Your Business Ready for Memorial Day
Small business owners that rely heavily on seasonal profits are probably looking forward to the upcoming holidays across the spring and summer months. As the warmer weather approaches, so does Memorial Day and the official start of the summer sales season. So if you are in the clothing industry, food service industry or sell products that are associated with the warm weather, than you might be in the process of preparing for a big sale or promotion to jump start the season.
As a business owner, there are many things that you can do to increase your potential for profit. Take a look below for some helpful tips that can help bring in more sales this season.
Advertise, advertise, advertise. Getting the word out is half the battle in sales. You want to entice your potential consumers with the type of products you have and the amount you are selling them for. The more people you reach in advertising the better. Don’t forget that reaching a single customer with your ad or promotion could potentially lead to word of mouth business from their friends and/or family, which is by far the best kind of advertising.
Just be sure to have the right products at the right price. To do so, you may need to do a little research. Look at past sales if you are a veteran in the industry, as well as checking what promotions your competitors are running. Bottom line – you know your customers better than anyone else, so use that information to your advantage when choosing your stock.
Don’t wait until last minute. Start planning your sale or promotion for Memorial Day weeks in advance. By doing so you can figure out what products you need and how long it will take to receive them, as well as getting the working capital you need to make the purchase. If you are having an issue putting together the money to fund the holiday, you may want to look into how a merchant cash advance can help you and your budget.
While advertising and having the inventory are important factors in getting customers through the door, you also want to make sure you have set the right mood to make them feel welcome and comfortable shopping. Customers will be more inclined to enter your establishment if you decorate. A visual display of either the food for a barbeque, clothing to attend a Memorial Day celebration, or even the buckets and shovels for a vacation at the beach will help to convert browsers into customers. Along with these types of items, you may want to use a little red, white and blue to catch the eye and get in the spirit of the holiday, and a simple string of lights will brighten up any display. The choice is yours, but whatever you do, do it well.
Last, but certainly not least, you want to provide nothing but the best customer service. If you normally employ a handful of people to take care of sales but anticipate a holiday rush, you can always contract a few seasonal employees to handle the overflow. You want to keep your customers happy, but don’t forget about your employees. An overworked employee is often an unhappy employee, so make sure they get them the assistance they need this holiday season.