The demand for candies and costumes skyrocket during Halloween, ornamental lights become sought-out around November and December, and the number of HVAC system installation and repairs significantly increase before and during summer. Peak seasons differ in each business or industry, but they all have one thing in common — an increased demand for a certain product or service.
A business’ peak season can be a very lucrative opportunity, but if your business is ill-prepared, you won’t be able to take full advantage of this busy period. That said, we’ll be taking a look at tips to help you plan and prepare for your small business’ peak season:
Learn from the Past (Season)
If your small business has been around for the previous peak seasons, you should take note of where you fell short, and in which areas you can improve. You may have had a shortage of staff or equipment, or had too little of a certain product. The bottom line is that you’d have to perform better in the upcoming peak season by making sure you don’t make the same mistakes and improve upon what’s already working.
For both retail and service-based businesses, a sudden increase in the influx of customers calling, inquiring, and visiting your business can be overwhelming. Being understaffed during peak season can lead to poor performance, potential losses, and not being able to keep up with the demands of your customers. So, before the peak season starts, consider seasonal posting job openings in order to supplement your business’ manpower needs for the season. An easier way to do so is through staffing and workforce agencies that can help you find qualified short-term staff. Lastly, make sure that you properly train and prepare your staff for the peak season for an optimised workflow.
Supplies and Equipment
Make sure you’re well-stocked on all the products, equipment, and supplies you need for the peak season. Inventory management and forecasting are key when it comes to small businesses in retail. For small businesses offering services, ensure that all your equipment is properly maintained and that you have enough materials and supplies. So, if summer is about to come, and your business offers HVAC installation, repair, and maintenance, it’s best to be well-stocked on high-quality air conditioning ducting supplies and other materials/parts you’ll need.
Don’t wait for your customers to come and find you; a month before the peak season, start marketing early through your website, social media accounts, and print ads. Let the people know that your business is ready for the peak season, so they won’t have to search for other businesses/companies offering the products and/or services that will be in demand soon. You may even opt to offer reservations and pre-peak season promos and discounts, and also different promos for the peak season itself to give your small business a competitive edge.
The last thing you’d want to happen is for your business contract, permits, and certifications to expire just before or during the peak season, rendering you unable to sell your products and services and completely missing out on this huge opportunity. So, review and update your legal documents so that you’re ready to go once peak season arrives.
Being prepared for the peak season can spell the difference between huge revenue and heavy losses. That said, you should take note of these tips when you’re preparing for the peak season to guarantee that your small business is ready to meet the demands and reap the benefits of this busy period.