Small Business E.R.: Holiday Recovery

Most business owners will spend a lot of time, money and effort preparing for the holidays. Just when you finish repaying last year’s holiday debts, a new season comes around. Not only will this article show you how to adequately prepare your business for the holidays, but it will introduce a way for you to pay for all those expenses that inevitably come up at the end of the year.

Check Up on Your Business Inventory
As a business owner, one of the first things you should do before the end of the year is to check up on your inventory. Business inventory will also need your attention at the beginning of the new year. Because of the sales shift that happens around this time, you will need to make the changes needed to weather the increased attention to your business by consumers.

Those with a surplus can take advantage of this in the first few days of the new year. Many savvy consumers look for deals in the days after the holiday season. Think of ways that you can position you and your business in this advantageous period.

Consider Your Business’ Pricing Strategy
Many retailers believe that the holiday season is all about getting customers into the doors of their locations. But the strategies that got these customers into their establishment may or may not work in the next few months. Sometimes this could mean working harder to make up for the post-holiday slump. Or you might aggressively push certain merchandise if you have a lot of surpluses.

Dealing with Holiday Staffing Issues
If you hire temporary staff to handle the holiday crowds, you might let these workers go by the middle of January. But at the same time, make sure that you have enough employees to handle day-to-day needs such as vacation time for permanent employees. Also, take care of such business needs such as staffing for holiday gift returns and tasks related to inventory.

You might want to ask a few holiday staffers to become permanent year-round employees. If this is the case, catch them up on your expectations for staff as well as year-round work tasks and responsibilities.

How to Repay Your Holiday Debts from Your Business
Most business owners will need to take on some sort of debt. During the holidays, you might have to worry about tasks such as paying holiday help, buying extra inventory, and updating equipment that you need for your business. If you don’t want to take out a business loan, you can look at a business loan alternative.

A merchant cash advance can often be a great way for business owners to get financial help for the holiday season. Not only does a merchant cash advance serve as a wonderful business loan alternative, but it also can get you the funding you need in a way that doesn’t put you and your business in a perilous position. For more information on how to obtain merchant cash advances for the holidays or any time of the year, contact Alpine Funding.