06 01 2015

Business Tips for the Summer Months

06 01 2015

5 Business Tips For Capitalizing On The Summer Months

The summer months provide ample opportunities for small businesses to leverage their working capital into a revenue stream. Customers spend more time out of their house, students are off of school and families take vacations. Most importantly though, people spend more money. According to Gallup, 45 percent of consumers reported spending more money in the summer compared to only 18 percent who reported spending less. Owners need to take advantage of the warm weather to implement original marketing campaigns and business strategies to draw in new customers and get loyal ones buying more.

Here are five tips small-business owners can use to capitalize on the summer months:

  1. Embrace the weather

    If you run a retail shop, now is the perfect time to take your wares to the street. Setting up a sidewalk sale ensures more potential customers see what you have to offer while loyal customers are greeted with a new display of your products. Restaurant owners should add patio seating for diners to eat outside. Not only does this create more satisfied customers, but it also advertises your food to passersby.

  2. Treat your customers

    Take advantage of this option by offering loyal customers sporting or concert tickets. Or, have a parking lot picnic treating the customers. According to the Internal Revenue Service, you can claim up to 50 percent of the cost of a meal or entertainment expense as a tax deduction if it is business related. Not only can you treat customers at half the price, but you can establish significant goodwill that people will remember when it comes time to shop at your store or purchase your services.

  3. Get involved in the community

    The summertime is ground zero for street festivals and carnivals. These events draw sizable crowds from across the socioeconomic spectrum of the local community. Use this opportunity to advertise your company either by becoming a partial sponsor or setting up a booth and selling goods. This will increase your brand awareness and indicate to customers that you care about the community.

  4. Utilize the downtime

    While the summer might be the busy season for some companies, for others it might mark a slowdown. Customers and essential staff members take vacations, and people can be more occupied with graduations, weddings and other gatherings, leaving less time for shopping and making purchases. A good way to use this downtime is by tackling that project you’ve had sitting on the back burner during the busy season. Whether it’s clearing out old inventory or having staff go through specialized training scenarios, be sure to use the downtime wisely. Situations like this also create the perfect opportunity for small-business owners to develop a fall marketing strategy that’s ready to hit the ground running once summer is over.

  5. Take a break

    If the summer months are slow for your business, use this time to go on a vacation yourself. Small-business owners – especially hands-on management-type owners – need time to decompress and release a year’s worth of stress and worries. Without taking time to rest your body and mind, you can hinder your ability to act to your fullest potential. Take time to detach from the company to rejuvenate yourself and you’ll be surprised how much more productive you can be. Be sure you schedule this trip at least one month in advance, but the earlier you inform customers and business associates the better. This allows you and your staff to plan for your eventual departure from the office so everyone knows who will be taking on your responsibilities.

Featured


Find Out How Much Funding You Qualify For

Fields marked with an * are required
By clicking this button I agree to all terms and conditions.

Terms & Conditions

General Acceptance

Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.

 

US Patriot Act:

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person and business that seeks a business loan. What this means for you: When you apply for a loan, we will ask for your business name, address, and Tax Identification Number. We will also ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

 

For Loan/Merchant Services:

The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, text-messages, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.

 

For Equipment Services:

I hereby certify: (1) the information provided is true and correct, (2) you are hereby authorized to investigate all bank, credit, and trade references, and said references are hereby authorized to release any requested information to you or your nominee, (3) such authorization shall extend to obtaining personal credit profile in considering this application and subsequently for the purposes of update, renewal or extension of such credit or additional credit and for reviewing or collecting the resulting account, (4) this information may be transmitted by us to you and by you to underwriter(s) for the purpose of granting me credit, either electronically or manually, and that by submitting this application, I take full responsibility for transmission thereof, (5) I am over 18 years of age, (6) I acknowledge my rights under the Fair Credit Reporting Act, (7) I consent to receive direct mail, faxes, text-messages, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (8) this request is for business and not for consumer purposes.

 

Text Messaging:

By providing my wireless phone number to National Funding, Inc., I agree and acknowledge that National Funding, Inc. may send text and multimedia messages to my wireless phone number for any purpose. I agree that these text or multimedia messages may be regarding the products and/or services that I have previously purchased and products and/or services that National Funding, Inc. may market to me. I acknowledge that this consent may be removed at my request but that until such consent is revoked, I may receive text or multimedia messages from National Funding, Inc to my wireless phone number.

  
The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status or age (provided the applicant has the capacity to enter into the binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. If for any reason your application for business credit is denied, you have the right to a written statement of the specific reasons for the denial. To obtain the statement, please write to National Funding Inc., 9820 Towne Centre Drive, San Diego, California 92121. Funding amount and credit approval is subject to a full credit profile review.