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/
About The Academy: Professor Egghead Science Academy was founded in Los Angeles, in 2007. The Academy offers the coolest science and engineering after school programs, in school science workshops, science summer camps and kids science birthday parties! See our programs HERE