The Christmas period is over. The drop in activity and excitement after the holidays isn’t typical only to people. After the chaotic and busy Christmas period, the post-holiday season can be a real stress for unprepared merchants. So, what can you do to overcome the post-holiday slump? Where can you get a business cash advance? Let’s see.
Post-Holiday Slump: Get a Business Cash Advance
The holiday season is striking for restaurant sales. However, after all the excitement passes, the slump starts knocking on the restaurants’ doors.
When the decrease in demand for products/services in January comes all of a sudden, it can significantly impact many business’ cash flow. Even more, it can make some be unable to move forward for reasons like lack of enough cash flow.
That’s where a reputable business funding provider steps in to help you get a business cash advance quickly and easily. With a true alternative online lending expert, you can be sure to pay the cheapest rates in the industry.
Tips to Survive Post-Holiday Period
Here’re several strategies you can use to successfully pass through the post-holiday period of slump. Remember that’s important to develop a set of goals and have intent to fight the post-holiday situation.
So, let’s start:
- Offer a free $10 gift card that your customers can use after January 1 with the purchase of every $50 card before the last day of December.
- Consider discount coupons designed for the period after the New Year start.
- Be sure your employees know what to expect taking into account the previous years’ data.
- Offer a seasonal menu with warm, flavorful options featuring affordable seasonal items.
- Partner with other businesses like a nearby a movie theater, etc. to promote each other’s businesses.
- Don’t forget about the other holidays. Promote what your fans like most and advertise take out specials.
- Take into account your expenses and see what you can let go off without negatively impacting the customer experience. This way, you can reduce some costs.
- Avoid making mistakes. POS features, e.g., tableside ordering, etc. are great for making orders with greater accuracy and also keeping tabs on your stock.
- Participate in Restaurant Week (January 14-20). This is fine chance for customers to visit new restaurants and enjoy something different at a set price.
By the way, this year, Washington DC has decided to extend Restaurant Week through January 27, which is the first time in 18 years. Unfortunately, the federal government’s partial shutdown, which began on December 22, has made restaurants in the DC area see an average of 20% dip in business as compared to the same period in 2018, as the Restaurant Association Metropolitan Washington reports.
- Try a “happy hour” or an “early bird” special promotion between January and March.
To deal with post-holiday sales slump successfully, focus on business planning and follow some important tactics. This way, you can lure customers into your restaurant even after the Christmas season has dragged to its end.
Author Bio: As the FAM account executive, Michael Hollis has funded millions by using business funding solutions, e.g., helping merchants get a business cash advance. His experience and extensive knowledge of the industry has made him a finance expert at First American Merchant.