There is plenty to be excited about during winter (Christmas…and skiing holidays…) and yet if you ask certain business owners, they will tell you that the winter months are some of the ones that they dread. When your business runs as a seasonal affair, finding the fight to keep going through the cold isn’t always easy. All businesses have their peaks and troughs, and not every single business will suffer through the winter months. However, if your business is in the hospitality sector – specifically sunshine holidays – you will know that the winter period is the slow season.
Slow seasons can be detrimental for a business if they’re not getting the right amount of money through the doors. Knowing your business is thriving is a wonderful feeling, so when things don’t go so well, it can be scary to know whether you will manage. All businesses have a down season, and whether your issue is that you haven’t hired enough seasonal staffing to cover your business during less busy times, or your business doesn’t flourish in the cold, you need to work out what’s going wrong. Your business should be able to manage through the colder months no matter what, and we’ve got some tips to help you to get stay afloat.
- Work Out Your Slow Down. Before you can do anything, you need to spend some serious time gathering data about each of your seasons. You need to know the highs and the lows so that you can work out which times of the year are least profitable for you.
- Save Some Cash. You need a rainy day fund. Your prices being up during your high season can help you to weather the storm during the low season. You should also keep a savings account for your business to be able to invest in seasonal things that make a difference to your business.
- Diversify. If you look at the product or service that you are offering, you can figure out how to diversify it to suit the season. If you sell beach balls throughout the year, then perhaps think of things that you could gear toward the winter months; sports balls for inside use, for example. It’s all about thinking outside the box.
- Business Hours. In the low season, you still need to open. You just need to be able to adjust your hours to suit your budget. Smaller hours mean you can spend less on the operating costs of keeping your business going. Increasing hours in the peak times and reducing them when you’re busy is crucial for success.
- Stay Connected. You need to be accessible even in the low seasons. Get on social media and get involved in the conversation. This will keep you current in the eyes of your customers and mean that you are still current. Relevance matters more than you think!
Keep your business up in the low seasons and you can stay above water. It’s all about management and learning how to make your business stay in the minds of your customers.