A seasonal business in Georgia can potentially turn into a lucrative endeavor. However, if your business operates year-round, you’ll need a way to continue to generate revenue during the off-season.
What is a seasonal business?
A seasonal business caters to a specific niche that has a variable level of demand, depending on the time of the year. In most cases, the niche is a specific holiday or season. The business has peak periods when sales increase. There are also off-peak periods when sales decline.
The challenge with a seasonal business is keeping it afloat during the off-season. If your business is known for selling Christmas decorations, sales might increase during November and December. But what happens during the other 10 months? There are options for keeping the business going.
Focus on off-season income
You’ll likely have store inventory left after the busy season. You can make use of that unsold inventory instead of stashing it away until next season.
Perhaps the easiest solution is to put the leftover inventory on sale. If that’s not an option, you can create a discount area for the remaining items. Some people buy goods out of season if they feel the discount is too good to miss.
If your business doesn’t have a website, that doesn’t mean you can’t make online sales. Websites like eBay, Amazon, and Etsy are possible options for selling off-season inventory online.
Form a partnership with another business
You might have inventory that another business would love to have. You can offer a discount for buying in bulk. You can possibly take a loss, but you’ll still recoup some of your expenses.
In addition to forming a partnership with another local business, you can also consider starting a business location out of state. Depending on your niche, it’s possible that an off-season in one area is in-season somewhere else. But before setting up shop in another location, be sure to familiarize yourself with business law for that area.
Making money during the off-season in a seasonal business takes careful planning. It helps to carefully manage your business expenses to avoid struggling during the off-season. With research and brainstorming, you can discover ways to keep your business afloat all year.