Seasonal businesses have unique challenges to keep going during the off season. Here are some tips that can help you be more conscious about your expenses and cash flow to have a better year-round business.
Diversify Your Business
Take what you know and find a way to boost revenue in your offseason. A landscaping business might want to invest in snow removal equipment and stay busy when the snowfalls. Tap into your strengths and find ways to build on your main business.
Plan Expenses Yearly
Seasonal businesses often have to think in different cycles. Plan your expense sheet based on your annual budget. Set your expenses by looking at your seasonal fluctuations. You know that you need to pay rent every month. Don’t spend too much during your on-season to stay afloat during the off-season.
Close Up Shop During the Off-Season
If you own your location, consider shutting down during your off-season to save on utilities, operating costs and staffing needs. Let people know that you’re available by phone or email. If you can rent out your location, that would bring in more cash.
Reach Out to Customers
Create a loyalty program for customers to make sure they come back when you’re up and going. Provide content for your customers during the off-season to keep them thinking about your product and service. Don’t wait until spring to advertise your landscaping business. Get customers thinking about their projects over the winter. Offer special rates for signing up early for services. Be creative.
Track Cash Flow Carefully in the Off-Season
Find ways to reduce your expenses during the off-season. Don’t rely on permanent employees who you may have to lay off during your slower season. Use contract or temp hires. Hire a virtual assistant or use technology that can monitor your email and phone messages. Freelancers can help you maintain your website.
Contact Fast Commercial Money for financing options that can help your seasonal business when sales slow down.