How to Make Your Seasonal Business a Year-Round Success
People are always asking how we were able to turn a seasonal business into a year-round income machine! The folks over at American Express wanted to know as well, so we said:
Businesses that are tied to school calendars also face seasonal challenges. “Since we run after-school programs and offer workshops in schools during the school year, summer was our slow season,” says Shaun Tuch, co-founder of Los Angeles-based Professor Egghead Science Academy. “When we generated no income during the summer but still had a cost of rent and salary to run the business, we decided to add another revenue stream during our slow season. To pay for expenses, we turned summer into a fourth session and added a summer camp offering as another revenue stream.”
Creating additional services can help smooth cash flow issues, but not every entrepreneur is anxious to fill up the natural breaks that a slower season can bring. In fact, some look forward to the downtime as a chance to take a break.
To check out other cool ideas, see the full article at: https://www.americanexpress.com/us/small-business/openforum/articles/how-to-make-your-seasonal-business-a-year-round-success/