Customers rely on goods and services throughout the year, and sometimes these needs are seasonal. As the owner of a seasonal franchise, this poses a big challenge. It is up to you to navigate a seasonal franchise’s unique struggles and find a way to keep your business thriving when customers aren’t as regular.
However, having a seasonal business doesn’t mean you won’t have cash flow during the off-season. In reality, it’s all about strategic preparation and devising a strategy to keep you afloat long after peak season ends.
One such way to do this is to add another seasonal business to your roster so the two balance each other out. There are several advantages to this strategy, and below, we highlight a few tips for finding success year-round with a seasonal franchise.
Diversify Your Services
One of the most significant advantages of an additional seasonal business is that offering ongoing services helps you generate consistent cash flow. It also helps you maintain a strong, loyal customer base and bring in new clients you might not have otherwise. Diversifying your services will position you as a one-stop-shop for all services in your industry. Also, with two companies, owners can be more creative and search out opportunities all year.
Maximize Your Time During the Off-Season
The off-season doesn’t mean you can’t complete projects and develop your company. In fact, businesses should take advantage of the downtime to strategize, schedule, and train their workers. Seasonal marketers who think long-term and make the most of their off-season time will set themselves up for tremendous success when peak season returns.
So essentially, when a company is closed for the season, owners and managers can take advantage of the extra time to formulate a growth strategy, evaluate business needs, and set goals and profit targets for the following season.
Recover Funds with Inventory Turnover
Toffer Grant, the founder, and CEO of PEX Card, a prepaid business Visa provider, suggests going through your inventory at the end of your peak season to see if you can sell anything.
“A business has to decide whether it’s worth it to keep money invested in gear and supplies that will sit around until the next season,” Grant explained. “Recover some of the money by selling materials for what you paid for them, or even at a small loss to cash them out.”
Hire One Multipurpose Staff Member
The presence of two businesses demands the presence of two management teams. To help ease the stress of managing several activities, business owners can hire a manager for each seasonal business.
Hiring, terminating, and training employees each season can be a challenge for seasonal businesses. Rather than dealing with this time-consuming cycle, franchisees can keep a full staff year-round by operating two separate companies during the winter and summer seasons and having the same employees work at each.
Promote Both Companies
Running a company during the off-season helps owners to cross-promote and keep customers. For example, a pool heater repair company that provides winter furnace repair can use its current customer base for advertising corresponding services. This not only enhances sales but also helps to retain client relationships.
Hundred Acre Consulting
As you can see, there are countless ways to find success and measured growth with your seasonal franchise. We hope that our tips lead you to consider a seasonal franchise — or two as your next business venture. If you are looking for the perfect seasonal business, Hundred Acre Consulting can help! Not only can we help you find a franchise opportunity that’s right for you, but we can consult you throughout your career.
Interested in working together or learning more about our services? Contact our team today, and let’s chat!