In the business world, last weekend marked the official start of the summer season. For many small businesses, the summer is the busiest time of the year. But for others, warm weather brings the complete opposite effect. Uncontrollable factors like vacationing customers and the shrinking appeal of spending time indoors create a massive slump in sales. But as unnerving as the next few months can be, countless seasonal businesses continuously find ways to stay vital. This actually isn’t too much of a surprise when you consider the growing number of strategies that can transform the slow season from a curse into a blessing.
It’s safe to say that the most reliable of these strategies tend to revolve around the availability of additional business funding, or small business loans designed for this exact situation. Here are 4 reasons you should look into taking out a small business loan to conquer slow sales over the summer:
1. Stay In Touch With Your Customers
If your business is currently in its slow season, the majority of your sales are probably conducted during the fall and winter. Since this period is so important, it only makes sense that you do whatever you can to maximize the likelihood of a strong performance. The most obvious way to make this happen is by ramping up your marketing to keep your name in front of your customers. They will remember you when the busy season rolls around and be attracted to off-season discounts. When it’s slow, you should put more effort into money coming in then maintaining profit margins.
But in order to achieve a legitimate return on your marketing investment, you must base your strategies on hard data. How will you know which area of marketing to concentrate on? This is the kind of crucial information you can obtain from a private marketing company. You might not be able to afford their services at the moment but companies like United Capital Source offer numerous small business loans that do not require large payments during slower months. Potential options include a merchant cash advance, bad credit business loans, or business line of credit. With the right campaign, you will quickly make back the money you spend in the early stages of fall.
2. Adapt To Outdoor Web Browsing
If you haven’t optimized your business’s website for mobile use, there’s no better time than now to get started. Without a mobile-friendly website, you won’t be seen on Google searches from mobile devices. It’s entirely possible that your website might need a new design altogether. If you plan on using email marketing to stay in touch with customers over the summer, they probably aren’t going to be opening their inboxes from a desktop since it’s so nice outside. Smaller business loans are traditionally harder to come by but at United Capital Source, we have no problem lending just enough money to hire someone to spend a few months upgrading your website. Depending on your financial health, we may recommend a business funding program featuring terms commonly used for seasonal employees or long-term marketing campaigns.
3. There’s Always Something On The Backburner
One advantage of the slow season is the extra time you now have for tasks that typically get put on the back burner. This usually happens because the tasks are big, requiring a lot of thought and back-and-forth communication. You might need to install new equipment, decide on new product lines, order inventory, or repair your facilities. Budgeting can be a major headache with these things but the business funding experts at United Capital Source can help, and that doesn’t mean telling you to take out as much money as possible so we can draw a profit. In the case of new inventory and equipment, we may even be able to assign terms that let you pay off the majority of your debt when your purchase is actually being used to its fullest extent.
4. Busy Season = Business Line Of Credit
If you are looking to grow your business while generating enough revenue to last you through the slow season, the answer may be a business line of credit. It’s best to look into this option during the busy season, since tight cash flow is usually a requirement for eligibility. With a business line of credit, you can capitalize on sudden opportunities to increase revenue at a moment’s notice, rather than waiting until after you’ve paid all your monthly business expenses or have performed a certain number of sales. Some businesses use business lines of credit to temporarily cover consistent/unchanging bills when they are investing in reactive sales strategies.
Start Small Now, Go Big Later
You may be thinking, “I don’t want to waste a small business loan on the slow season. What if I need it during the busy season?” Well, if you work with a company like United Capital Source, taking out one business loan doesn’t mean another one won’t be available shortly after. Even if that first business loan isn’t especially large or demanding, you will most likely become eligible for a second round of funding with increasingly convenient terms. All you have to do is make payments without trouble and prove that you’ve learned how to avoid the select few avoidable perils of the slow season from now on.