Seasonal businesses are those who make a large profit during certain seasons of the year and make less during off-season months. Businesses, however, will not survive this way. For your business to stay afloat even amid off-season months, you have to strategize, maximize what you have, diversify your offers, and expand your market reach. Although some seasonal businesses make 70% of their income during a certain season—summer or winter, for example—there are practical ways to keep on earning beyond those core months.
Keep Your Business Safe All Year Round
It’s not only about profit when it comes to business. It’s a lot about keeping customer loyalty, too. One of the ways you can earn customer loyalty is by making sure they feel safe and secure when visiting your store. During the dead of winter, hire a commercial snow removal company that will keep your parking lot and pavements snow-free and fall-free. It will eliminate untoward accidents that sometimes can be fatal to your employees and customers.
When your customers feel safe and secure in your store, they won’t have any qualms about visiting you under bad weather conditions. This means that if your business isn’t exactly the kind that makes money during winter, you will have a better chance of attracting customers and generating leads. Many businesses don’t think about this very basic and simple customer service.
Diversify Your Offerings
Why are you only making money during the holidays? Does your exclusively sell Christmas decorations? Then, why are you expecting to make money during summer? Many seasonal businesses have assets that they can utilize no matter what the season is. All you need is to be creative. For example, if you own a snow-plowing company, you can convert your services into lawn-mowing during spring and summer. If you own a holiday decoration store, you can sell decorations for all seasons—Halloween, birthdays, Valentine’s Day, Easter, graduation, weddings, etc.
Thinking beyond your core business will help diversify your business operations. You need to identify the assets that can make money for you during off-season months. This way, you’ll be earning even though it is not your usual peak months.
Offer Incentives to Customers
So, during certain months, your business is not on the top of the head of your customers. Lure them back by offering incentives. Whether it’s a 20% discount, a coupon, a gift card, or rewards points, there’s nothing more that customers want than the opportunity to get something for free or with a discount. This will allow you to turn a profit when you otherwise would not. Send coupons to your regular and loyal customers. As for new ones, offer for them to sign up for a membership card that will bring them points as they shop more.
Find Partners to Work With
How about partnering with a business that makes more profit in the months that you don’t? For example, you can give customers a coupon for the other business when they purchase something from your store. During your off-peak months, you can get more customers by partnering with other establishments that need a boost in sales, too. When their sales are booming, ask them to do the same for you. This is another way to provide an incentive for your customers.
Use the Downtime to Improve Your Business
Be productive during your downtime months. Upgrade your website. Train your staff. Brainstorm marketing ideas. Send flyers to potential clients. Reach out to your loyal customers. Engage with them on social media. While you’re making money on the side, don’t forget to use this opportunity to improve your business operations. If you accept reservations, offer your customers a chance to reserve in advance. They can make a down payment and in turn, keep your business afloat during your off-peak season.
Focus on Your eCommerce Channel
eCommerce is a growing industry for retailers. The past year alone showed that. If you have not perfected your online operations, the off-season is the perfect time to do so. Savvy business owners should not only diversify online but use their online resources to reach more markets, too. This is also the best time to start a blog and build a community of online buyers who will remain loyal to your business for a long time.
Every day is a golden opportunity for businesses to prosper. Even if you are a seasonal business, you shouldn’t let that stop you from making a profit during off-peak months. No business can survive by making money only on certain months of the year. While you can profit more during those months, make use of the off-season to continue making money while also improving your business processes and marketing techniques.