Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

How to deal with fluctuating seasonal demand

by December 15, 2022
December 15, 2022
How to deal with fluctuating seasonal demand

Seasons come and seasons go, but in the business world, they aren’t always equal.

From Christmas retailers and ice cream vans, to holiday let businesses and tax preparation companies, there are so many organisations out there that operate on a seasonal basis.

Whether they function exclusively during certain seasons or just don’t enjoy high demand all year round, all seasonal businesses need to think carefully about how to keep themselves afloat during fallow periods. Here are some of the best ways they can deal with fluctuating demand.

Get financial relief

There are lots of ways seasonal businesses can get funds to soften the financial impact of their downtime.

Tax credits

Business tax credits work as subsidies that enable businesses to deduce an amount from the taxes they owe. As noted by tax experts Adsum, tax credits are “one of the best business loan alternatives around”, as “you get to advance some money that’s already coming your way”. While not every business will be eligible, they’re worth exploring just in case. Some prominent examples that a business may be entitled to are VAT refunds, research and development (R&D) credits and creative tax relief.

Short term loan

A short-term business loan enables a company to borrow a certain amount of money for business purposes. This must be paid back over an agreed period of time, usually between a month and a year. A short term loan can be a great option for seasonal businesses looking to tide over certain expenses during an off-season, and can be paid off when demand is high again. That said, companies must be wary of avoiding high interest rates and the risks of secured loans.

Crowdfunding

Crowdfunding has massively grown in popularity as a type of financing. It involves taking a small amount of investment from a lot of sources to create a much larger sum, often in exchange for something, like equity or rewards (such as discounts). This can be a good source of funds for businesses with large customer bases, though they should be wary of giving away equity to too many people.

Evaluate operations during the off-season

The off-season is a great time for seasonal businesses to evaluate their operations to help them maximise profits during their next peak period. By evaluating their performance to see what went right and what didn’t, businesses can determine how to better approach things in the future. Some of the main aspects to assess include:

Inventory – By taking notes of which products were popular and which ones weren’t, as well as what competitors did successfully, seasonal businesses can refine their offerings.
Staffing – Seasonal businesses should assess whether they had enough staff or not to help them work out who they need next time around.
Suppliers – The off-season can be used to research vendors to see if there are better deals out there, so companies can either switch suppliers or renegotiate existing contracts.
Maintenance – Instead of addressing shop maintenance or renovation issues when busy, seasonal businesses can take care of them during the off-season, ensuring they’re fully ready for the peak period.

Diversify product offering

If a business’s products or services portfolio is small, they’re much more likely to struggle with seasonality. By developing product or service lines with different peak seasons or no seasonal demand at all, businesses can maximise their profits all-year round. For example, say a company specialises in winter wear, then it would be a good idea to sell summer clothes too. While a Christmas tree business may want to offer other types of plants to bring in customers year-round.

Similarly, seasonal businesses might also want to consider expanding to different locations, particularly if they operate online. For instance, although summer-based companies in the UK can generally only operate between March and September, during their winter it will be summer in other parts of the world, such as New Zealand and Australia. As such, there could be significant opportunities to sell products or services there during a company’s domestic off-season.

Read more:
How to deal with fluctuating seasonal demand

0
FacebookTwitterGoogle +Pinterest
previous post
Ukrainian President Zelensky’s Wife Goes to Paris and Begs for Money and Goods Then Reportedly Goes on 40,000 Euro Shopping Spree
next post
Team ITG buys Emerald Thinking Group to accelerate data capabilities

You may also like

How important is trust to you as an...

July 3, 2024

Businesses rush to sell ahead of potential Labour...

July 22, 2024

How to show real appreciation in the workplace

April 2, 2024

The UK continues to sell arms to Qatar...

March 1, 2024

Revive Your Designs: The Power of the One-Click...

December 30, 2024

Astra Asset Management questions the wisdom of FINMA...

June 19, 2023

Report backing Labour’s private school VAT policy written...

October 8, 2024

Business leaders must adopt “bigger, faster and stronger...

April 17, 2024

IFS Urges Caution on Tax Cuts in Upcoming...

February 27, 2024

Sculptra for Men: Addressing Facial Aging with Confidence

June 7, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • FAST distribution and IA

      June 7, 2025
    • Why Independent Digital Platforms Are Gaining Ground Among UK Entrepreneurs

      June 7, 2025
    • Is Decentralisation the Future of Online Services in the UK?

      June 7, 2025
    • TSA tells Americans their Costco cards won’t fly at airport security despite love for hot dogs

      June 7, 2025
    • Trump announces China will restart rare earth mineral shipments to US after productive call

      June 7, 2025
    • Musk feud presents ‘unprecedented’ dynamic compared to past Trump disputes: expert

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,558)
    • Stocks (3,134)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved