According to Merriam-Webster, “collateral” is defined as “property (such as securities) pledged by a borrower…
Now that December is here, most businesses are experiencing the typical whirlwind of festivities that come at this time of year. However, there are many other companies that go through slowdowns during the busy-for-everyone-else holiday shopping season. Whether they are due to seasonal fluctuations or consumer behaviours, certain industries face challenges in maintaining their revenue streams. What can they do to bolster their earnings during this period?
Here are four revenue growth strategies for businesses that have slow winter seasons:
1. Landscaping companies can add winter-based services.
Landscaping and gardening are activities generally conducted in warm weather. Companies that offer such services naturally witness a decline in demand when the cold days set in. To counter this slowdown, these businesses can pivot towards offering winter-specific services. We’re talking about snow removal, seasonal decorating or even conducting indoor gardening workshops. Marketing these services to existing clients and tapping into community events can help maintain revenue flow during the quieter months.
“Plowing snow is one of the go-to winter jobs for landscapers,” states Sarah Iranca of software company, Method, “If you operate in especially snowy areas and have a snow blower or detachable plow, you can get a lot of orders to move snow from streets or people’s driveways.”
2. Construction companies can offer home improvement services.
Thanks to harsh weather conditions, the winter months can pose challenges for construction companies. However, these businesses can focus on interior remodelling projects during the coldest months of the year. By offering winter maintenance services like roof inspections or energy efficiency upgrades, construction businesses can bolster their cash flows. It’s especially wise to promote holiday-specific home renovation packages throughout December.
“Many people put their backyards in the house when the ground freezes over– or bring their plants indoors to protect them from the chill,” points out Bento For Business, “They will be open to making the most of the warm indoor setting and to create a unique garden backdrop inside their homes – complete with indoor water features, decorative indoor lighting, and seasonal plant life.”
3. Fitness studios can introduce holiday-themed fitness challenges.
Every year, tons of people pledge to get fit as part of their new year’s resolutions. As a result, December can be a slower period for fitness businesses. Why not spark the interest in losing weight a little early? Fitness studios and gyms can keep revenue flowing by offering discounted “early bird packages” or holiday-themed fitness challenges. It’s smart to promote special membership discounts for early sign-ups for the new year. They can also host community events like charity fitness classes to engage both existing and potential clients.
“Outside of work, this time of year becomes a time to regularly catch up with friends and family and last-minute runs to the high street for Christmas shopping,” notes Lucy Connor for Glofox, “Attendance will likely be reasonable at the beginning of November and begin to drop, so use this time to promote upcoming festive events. A ‘12 Days of Fitness’ challenge is easy for any gym or studio to implement because you can put any spin on it that you like.”
4. All businesses can apply for a merchant cash advance.
Synergy Merchants’ unique merchant cash advance program has helped many a Canadian business owner to survive their slow seasons. To learn all about it, please don’t hesitate to call us at 1-877-718-2026 or email us at email@example.com. You can also apply online for a free, no obligation quote!