The holiday season can greatly impact a small business' success in the next year. Sales leading up to the holidays can determine whether or not a business ends the last quarter in the black or begins the first quarter of the new year in debt. To make the most of this selling season, a small business owner typically needs to have enough cash on hand to stay afloat and profitable.
Unexpected expenses, lagging sales, or simply being new to the local market can take away vital cash and leave the owner desperate for financing. Because banks are still antsy about loaning money to small businesses, owners may wonder where they can get the money they need to do well during the holiday season. They can make this time of year financially brighter and more successful by utilizing merchant cash advance loans for these purposes.
Shopped Internet in a bid to find places that have what they want to buy for the lowest prices possible.
Advertising, however, can be expensive and beyond the financial means of small business owners who are just getting started or perhaps in debt because of unexpected expenses like repair bills. When they want to advertise and bring in shoppers during the season, owners can utilize a merchant cash advance loan for this purpose. They can use the money to print ads, buy commercial airtime, or pay for Internet advertising to let the public know what their businesses have to offer during this time of year.
Advertising is useless if a business owner does not have enough inventory on hand. Rather than deal with frustrated customers and having to issue rain checks for sales items, owners can use a merchant cash advance loan to buy the inventory they need to thrive during the holiday season.
Ordering inventory can take a financial toll on a business, however. If a company lacks the extra money to put toward such a purpose, the owner can use this line of financing to secure the stock the store needs to satisfy customer demand.
Even more, because this type of financing does not take a lot of time to apply for and secure, business owners can also avoid the last minute rush in ordering what they need or scrambling to fill customers' orders. They can fill out the online application well before the holiday rush begins and be ready for the sales season to begin.
Hire Seasonal Help
Customers crowd stores during this season in their battle to buy the best gifts possible. Business owners who lack the staff to handle the rush often sacrifice sales and profits. When they want to take care of each and every customer who walks in through their door, owners should make it a point to hire additional help during the holiday sales crush.
Hiring additional help, however, takes money that may not be in the business' bank account. When they want to hire seasonal workers without putting their profits at risk, business owners can use merchant cash advance loans for this purpose. The lender can buy a percentage of their expected credit card sales and then advance out that amount of money. That extra cash can be used to bring in enough staff to handle the increased traffic until after the holidays end.
Stay open Extended Hours
Many businesses make it a point to stay open longer hours during the holiday season. Keeping the doors open means that owners will have to pay employees for more hours on the time clock and also pay for more utility bills during this time of year, however. These expenses can counter-balance any profits that they bring in during the holidays.
When they want to maximize their ability to serve customers and bring in sales, people can rely on this source of financing to provide them with the financial means to do so. The extra sales and increased revenue also means that they can survive and grow during this season and pay off their loan once the holidays end.
The holiday sales season remains a prime time of the year for business owners to make money. They can end their last quarter with profits to their credit and begin the next quarter without the worry and stress of being in debt. When they lack the cash to accomplish this, however, business owners may want to bypass going to a bank and risk being turned down for a loan. They can instead sell a portion of their expected credit card sales and use a merchant cash advance to increase their success and their profitability during the busy holiday sales rush.