- Stock up on supplies. If you have a retail establishment, you can use a Merchant Cash Advance to stock-up on merchandise that you know will sell over the holidays. Pre-order items that have a history of high sales or expand into seasonal product lines. By using the efficiency and speed of a Merchant Cash Advance you can secure the inventory that enables more sales, perhaps taking advantage of discounts offered when buying early or in bulk.
- Accommodate more people. If you have a retail business, you might need to accommodate more traffic by adding some counter space or additional product displays. In a restaurant, you might invest in additional tables, or purchase the supplies needed to accommodate (or cater) private Holiday parties. By planning ahead and getting a Merchant Cash Advance now, you can be ready when people start looking to your place of business as the place to be during the Holidays.
- Get the extra help needed. Additional traffic and more opportunity might mean you need to hire some temporary, seasonal help to assist your staff. A Merchant Cash Advance can give you the money you need to cover this cost so that every customer receives the best possible service.
- Advertise your strengths. It is no surprise that the Holidays can create lots of potential customers for you – but these people will need to be aware of who you are, where your business is located and why they should visit your business. By using a Merchant Cash Advance to handle advertising costs, you can market your goods and services to reach the best possible clientele.
Make an Action Plan
Proper planning is what will allow your business to capitalize on the holiday traffic. As we mentioned in our recent Merchant Cash Advance White Paper, investing in opportunity is one of the best possible uses of a Merchant Cash Advance. As so clearly illustrated by the bullet points above, the holidays traditionally offer many lucrative opportunities for businesses to explore.
The best way to take advantage of the potential holiday traffic is to carefully plot out your strategy. Once you know specifically what you’d like to do, you must:
- Determine the budget (time and money) needed to make it happen
- Calculate your assumed return on investment (ROI) to make sure this effort will be profitable
- Identify your potential sources for working capital and contact specific providers for more details
- Create a schedule to make sure everything happens smoothly, and on time
With a little forethought and some smart planning, your business can truly make the most of the upcoming holiday season. And for some businesses under the right set of circumstances, a Merchant Cash Advance is a valuable option for seeing the working capital needed to capitalize on seasonal opportunities.
For more information, refer to these articles:
For more information about using a Merchant Cash Advance for making the most of the upcoming holiday season, visit AdvanceMe.com
What do you think? How will your business prepare for taking advantage of this year’s holiday season?