Council6 Tips on how to survive when business is quiet
- Be innovative. Encourage people who live nearby to visit you. What about two-for-one offers, seasonal deals and discounts for people who live locally?
- Market yourself off-season. Promote yourself by getting listed on websites – search-based advertising is very reasonable and can allow you to offer great deals at off peak times of the year
- Create unusual demand. Run events to attract off-season custom and get visitors to your business. Hold unusual launch parties out of season and invite local press to cover the story. Team up with other local businesses that do have customers in your off-season
- Establish relationships with customers. Set up a loyalty scheme to make people feel special and tempt them back to you off-season with special offers
- Manager your cash. Plan for the off-season by holding a percentage of peak sales or charge for your services on a subscription rather than a one-off basis. If you have loans to repay, seek a restructuring so that you can make repayments when you are busy but pay nothing when business is quiet.
- Consider diversification. Think about other uses for your core assets or skills. For example, a Christmas hamper retailer might develop a picnic-related range of goods to appeal in the summer.
Pid Nos: 346, 350, 677
