September 5, 2018 | By Peyton Sawyer
As most of you know, Black Friday is a day that is celebrated by most retail stores to start off the season of holiday shopping with a bang. It is recognized on the day after Thanksgiving, and as one of the most profitable days in retail for nationwide chains. With the ability to discount products, slash prices, and spend an enormous amount of money on advertising and decorations, these national chains make it their business to beat out any competitor.
Competing With National Chains is Impossible
By having such a presence during the holidays, or anytime for that matter, these big corporations make it difficult for any small business owner to come out on top, especially on Black Friday. Being a small business owner can mean that you need to think on a smaller scale. Trying to out do the big box stores is next to impossible. Without the capital to advertise big, discount products drastically, and increase your customer base to match these chains, you are fighting a losing battle. Many small business owners opt out of celebrating Black Friday and use their time to prepare for Small Business Saturday.
It’s Important to Pick A Battle You Can Win
Back in the 1950’s, Black Friday became a term used for the massive amount of shoppers crowding the streets of Philadelphia for a huge one-day sales event. The event caused much chaos in the City of Brotherly Love. To holiday shoppers, it was a day to find great deals on gifts for their family and friends, but for the policemen patrolling the streets of Center City, it was a day of crazed shoppers and traffic jams.
The term Black Friday is now used worldwide to declare the first sales event of the season, but it doesn’t stop there. Today, the big box stores have started to advertise their sales as early as Thanksgiving night just to beat the competition to the punch. As if that’s not enough, they also introduced Cyber Monday. It is an online sales event that takes place the Monday after Thanksgiving.
By dominating the industry and holiday season, these national chains are making it harder and harder for smaller businesses to stay open. Because of this, smaller businesses should not rely on a prosperous Black Friday to turn a good profit. It is just too hard to compete with the larger competition.
Taking Advantage of Small Business Saturday Is A Smarter Choice
Instead, dedicate your time and hard earned money on a day that was designated to the small businesses that make our communities thrive. Small Business Saturday is an event that has the potential to make your season a profitable one. Advertise your participation in the event, decorate your business, discount popular products or create some customer incentives. It is up to you how to celebrate.
For a small business, getting ready for Small Business Saturday may be easier said than done. Using working capital that is just not available can put you in a financial nightmare. To avoid this, try an alternative funding solution with small business financing.