Tips For Seasonal Businesses To Survive The 'Off Season'

Businesses that generate a large portion of their revenue during a particular time of year are known as seasonal businesses. A party supply store, for instance, is a considered a seasonal business because most of its sales occur during the months of October, November and December. Customers may still purchase items during the other nine months, but it's Halloween, Christmas, and New Year's Eve during the final three months of the year that drive the most sales. Unfortunately, this oftentimes places seasonal businesses in hot water since they're forced to struggle to turn a profit through the rest of the year. If you own, manage or run a seasonal business, keep reading for some essential tips on how to survive the off season.

Venture Into New Products and/or Services

One idea for seasonal business owners to consider is venturing into new products and/or services that aren't restricted to a particular time of year. Even if 90% of your sales occur during a certain month, perhaps you could offer a new line of products that customers will purchase during the other months. There's no guarantee this technique will work, but it's certainly worth the effort just to try. After running a small test for a couple months, you should have a better understanding as to whether or not this new product or service will work.

So, what are some products or services that seasonal businesses can offer? It really depends on their niche/industry. A bakery that specializes in seasonal pumpkin pie and apple cider, for instance, could broaden their horizons by offering custom cakes, cupcakes, cookies, wedding cakes, etc. Another example would be a retail winter apparel store venturing into spring and summer clothes.

Capitalize During The Peak Times

Taking advantage of the high sales and profit margins during the peak time of year will make it easier for your business to survive the off season. If your business is typically closed on Sundays, perhaps you could stay open 7 days a week during the peak time of year. The bottom line is that you want to generate as most sales and revenue as possible to make up for the off season. This revenue will help your business stay afloat when sales begin to slump downwards.

Seasonal businesses aren't a new concept by any means; they've been around since the early times of trading, and it's doubtful they'll be going away any time soon. Following the tips outlined here will give your seasonal business the upper-hand during the off sseason.