Although the summer season is hot for some small businesses, others see it as weak for their revenues. That is because both kids and adults are off on vacations and trips, which for UAE-based expats can be even three months long. As a result, many small businesses suffer great loses during this slow season and a few even end up at the bottom. However, if business owners are smart and innovative and if they start to plan the upcoming months early enough, they will have no problem in keeping their boat afloat. Here are some simple, yet gold-mine tips that can do wonders for your small business during the slow summer season.
Start planning and preparing early enough
Don’t wait for the low season to hit you to start to look for a saving boat. It may be too late then. It is better if you come up with a plan beforehand. In addition, being prepared will not reduce your potential losses, but it will also cause you less stress.
Reduce costs
The best way to reduce losses is to cut your costs. For example, if you run a restaurant you can opt out some exotic and pricey meals in your menu. In addition, you can cut down your opening hours to save on electricity bills. This may be especially effective during the Ramadan.
Offer promotions, sales and discounts
Promotions, sales and discounts have the magical power to attract customers no matter how fast or slow the summer season is. Even off-season sales can lure clients. However, do try to be creative. For instance, do some text promotions or offer online-only deals. In Dubai, in particular, the government is giving a serous boost to businesses by organizing “Summer is Dubai” campaign this year.
- Read more: Dubai announces “Summer is Dubai”
Maintain your online presence
Speaking of online, don’t forget to maintain your blog, websites and social media pages during the slow season. Make sure you remind of yourself frequently enough. There are many locals and expats who will still be in the area and will need your services.
Find alternative ways to attract customers
Sales are not the only thing that can lure clients to your door. Organizing parties, events and meetings will also benefit your business. Moreover, you may not even organize them yourself, but just offer your business space to corporate companies which are looking for an interesting place in which to set their summer conference.
Think of additional income sources
If you can’t think of a way to balance your profits and expenses during the slow season, you can search for some additional sources of income. For instance, if you own a fitness center, you can create an exercise or a diet book. Just find a ways in which you can leverage your knowledge and resources the best way possible.
Look for a new type of consumers
While families may be away during the summer, the business is not. Therefore, you can switch to corporate clients. Try hosting business events, conferences, launches, meetings and etc.
Focus on a niche market
You can turn to a niche market that you think is enjoying popularity during the slow summer season. Restaurants, for example, can develop a special refreshing menu filled with ice drinks and ice cream to cool down their consumers. That will definitely make you stand out among your competition.
Create partnerships
If your business is experiencing a slow season, it does not mean that other companies are too. Some firms are thriving during the summer. That is why you should try to team up with them. You can decide on the scope of partnership – whether it will include sharing one work space or whether it will be limited only to exchange distribution of promo materials.
Renovate, improve, upgrade
Eventually, you can use the slow season to do some repairs and renovations around. Close down partly or completely over the next few months and finally start the renovation you have been planning for so long.
The slow season is a challenge for businesses. However, it can be overcomed if you have a plan in your head and the will to try and experiment with new strategies and in different fields.
