Summer is just around the corner – and for many businesses it means peak season. With the warmer temperatures comes extra custom and the opportunity to increase profitability, but it’s critical to be well prepared. It’s important to plan ahead and ensure you’re ready for increased business. Here are some top tips.
Consider your staffing needs
It might not be the type of business which requires extra seasonal staff – however summer is always a busy time for staff holidays. In addition to the annual summer holiday, time off for weddings and music festivals, some employees may also need to take extra time off while the children aren’t in school. Evaluate your staffing needs so you don’t fall short over the busy period, and ask staff to get their holiday requests in early so you can plan ahead. You could always hire an apprentice or a young worker who is off school or college for the summer to fill staffing gaps.
It’s the perfect time for a bit of spring cleaning and as the old saying goes – it’s out with the old and in with the new. De-clutter work spaces, throw out old equipment and re-arrange the office so it’s more functional and encourages productivity. Get all those odd maintenance jobs done which you’ve been putting off, before you’re too busy!
If sales projections show that sales increase in the summer months, then adjust your stock accordingly. Invest in extra stock now before it’s too late, and take advantage of bulk buy discounts rather than topping up throughout the season. You might also need to buy some new equipment or replace machinery which might not be able to cope with the increased workload. If you don’t have the upfront cash to pay for these purchases, consider savvy financing options such as merchant cash advance, invoice factoring or asset finance. Can you risk having to turn down orders?
Everybody loves a summer promotion! Do your calculations ahead of time to figure out what promotions you can offer throughout the busy period to stay competitive. You don’t always have to be the cheapest around, but offering 3 for 2 promotions or free gifts with certain purchases can keep customers loyal. Think about your customer’s need over the summer season and how you can fulfil them.
Plan ahead for busy periods and you’ll be sure to reap the rewards.