The holiday season is the bread and butter for many small businesses. In fact, the bulk of the income made for the entire year is comes in during this time of year. It is a big deal, and the key to not only surviving but being successful is preparation. How are companies preparing for this holiday season?
Many companies are adding staff in an effort to handle holiday sales volume and demand. Most of these jobs are temporary in nature, which works well with the fact that many are looking for temporary work for the season so they can buy gifts.
Jobs may include sales clerks, stockers, delivery, or even extra cleaning staff. It is better to be prepared for high volume by over hiring and cut unneeded staff than to be unable to handle demand. Hiring started earlier in 2016 than in years past, according to Steven Lindner, Ph.D. of The Workplace Group.
If you try to hire after the fact, you will be rushed. You also run the risk of having trouble filling the positions, because everyone that was looking for seasonal work has already been hired. Hire early, and just be certain that all temporary employees understand the duration of the job is dependent on season and need.
Not only are businesses preparing with added hours that they are open, but they are keeping employees on for extra hours to do extra work that cannot be completed during regular business hours. Customers are looking to shop, and many need to do it during hours when stores are not typically open. .
Shopping when they get off from their own job, or after the kids go to bed is the only time some customers have. Businesses have to stay open later, open earlier, or both, to accommodate.
Business that fill mail orders may need to keep employees later than normal in an effort to keep up with increased orders. In addition, extra stocking and cleaning may need to be done after regular business hours due to decreased down time while open to the public.
Increased or Additional Inventory
Additional seasonal items as well as increased standard inventory may be needed to keep up with demand. Companies are sensing that and adjusting inventory accordingly. After season sales should take care of any excess inventory nicely.
It can take some guess work to determine what items will be most in demand. Businesses begin watching trends and market research early to determine which inventory items they need to stock up on for the season.
These preparations require access to capital, and Biz2Credit can help with that. Our network of lenders offers a broad range of financing options, from small business lines-of-credit to capital loans. We can help you make this holiday season the most profitable one yet. Visit Biz2Credit.com today to find out more about how we can help you get ready for the season.