One of the most important factors in running a small business is having the cash flow available to take advantage of opportunities when they present themselves.  The holiday season represents a time when consumer spending dramatically increases.  It’s imperative for small business owners to be prepared to capitalize on this consistent trend.  Since adequate cash flow is not always available for smaller companies it may be necessary to borrow in order to have a profitable holiday season.  With the holiday’s fast approaching it is likely far too late to apply for a bank loan.  A merchant cash advance offers a much easier application process and a far faster approval period.  In most cases an owner can be approved for up to $250,000 within a 48 hour time frame. Holiday promotions vary by industry but there are a few different ways any business can help to take in their portion of the increase in consumer spending.

Holiday Discounts

Without a doubt the holiday sale is the single biggest way to increase revenue during this time of year.  These sales often require you to carry more inventory than usual.  Being able to purchase your inventory in bulk also provides you with savings as the more you buy, generally the lower the price point.  This also allows you to minimize the impact on your profit margins when offering discounted prices.  A great way to position your sales is by offering discounts on bundles of items.  This allows you to provide great value while also offloading some less successful items.

Giveaway Contests

The holiday’s offer great versatility when it comes to your contest and giveaway options.  Entries for your contests can be given by purchasing a ticket or handing them out as a bonus for spending a certain amount of money.  This type of promotion has  tendency to increase the dollar amount spent by your customers per purchase.  The prizes you offer should include one large ticket item and then some smaller ticket items to increase the amount of winners and satisfied customers.

Industry Publications

Target your advertising towards industry specific newspapers, magazines and blogs as a great way to invest and receive the attention of potential customers.  These publications cater to your customers which increases the effectiveness of your advertising.  Those that are reading these advertisements are likely already perusing them for holiday deals.  This gives you an opportunity to differentiate yourself from your competition and let them know what makes your company special.

Updated Equipment

The increase in Holiday traffic could take a toll on your current infrastruture. Do your tried and true surroungings need an update? Purchasing new equipment could save you money on energy costs and ensure you don’t suffer a catastrophic breakdown and lose your holiday business. 

Expanding Services

If you’ve been thinking about adding services or offering some new products, this is the time of year to unveil them.  The holidays offer an excellent platform to reinvent your company or simply bolster your offerings.  Since you’re likely to have an increase in foot traffic this will give your new products and services maximum exposure.  Offering a small incentive to your customers for reviewing them is also a great idea and will help guide your decisions on what should become fixtures of your business.

Charitable Donations

More than anything this time of year is best suited for good will towards your fellow man.  Donating a portion of your proceeds for the sale of certain products can benefit your company in three ways.  First, you are likely to increase your sales on those products as people will want to participate in the giving.  Second, you can write off charitable donations on your taxes which can save you money at the end of the year.  Third, and most importantly, these gestures will endear you to your community and help to build a good reputation.

Securing Your Funding

Quikstone Capital Solutions offers merchant cash advances that can be used in any these profitable ideas. The approval process is far faster than a bank loan and repayment is based on a percentage of your daily credit card sales. If you’re looking to increase your revenue during this holiday season it’s not too late.  Apply now to see if you qualify for up to $250,000.