The holiday sales season is top of mind for many main street business owners all year round. As soon as the year ends the new calendars go up, and the days of the holidays start getting circled. It is never too soon to start planning for the next upcoming holiday and definitely never too soon to plan for Black Friday, Cyber Monday and Small Business Saturday. Direct lender BriteCap has been helping businesses secure financing for the holiday seasons for more than a decade. Here are some of their great tips for small businesses to make the prime holiday season their most successful yet!
Plan your inventory early
With each holiday you need to plan for your inventory, so the sooner you get this done, the better because demand is usually low. If you order early from suppliers, stock from vendors will be high, and demand will be low, allowing you to negotiate a potential deal. As the saying goes, the early bird catches the worm! If you don’t have the cash flow to negotiate a deal like that now, consider applying for a short-term loan to help you.
Prepare fall sales to make room
Start planning your Fall “Back to School” sales sooner rather than later to make room for your holiday inventory. It will help you meet your quarterly sales goals, and free up valuable space. Additionally, sales and promotions are a great opportunity to bring new and existing customers into your store, allowing you to get them primed to come back during the holiday season.
Do you need additional staff for the holiday season? Start recruiting during summer time. Many college students are on summer break and will be back during the holidays. Put up signs early, and get resumes in. You’ll have your pick of the crop when it comes holiday time. Additionally, summer is typically a slow season for many retailers, so it is the perfect time to train your staff to get ready for the increase in sales and plan ahead for the holiday season. Go over processes, shadow your staff, and work on improvements while you have time. It’s much easier to address potential problems before they escalate than try to deal with them during your busiest period.
Start planning for Small Business Saturday
With the holiday season comes a big day for you as small business owner—Small Business Saturday. It is never too early to start preparing for this special day. Aside from preparing for Black Friday and Cyber Monday you should mark this day on your calendar too. Small Business Saturday is one day you don’t have to compete with the retail giants. Start early in planning for something unique for this day and pride yourself as a small business owner. Do your research and plan ahead for your promotions and signage, think about an event to have, and prepare your staff.
Planning for the holidays is a lot to handle, but it doesn’t mean you have to start a month before. Start early and plan your best outcome for a successful holiday season this year.