Ice cream and summer—the best combination.
However, ice cream and winter can make you fall sick and catch a cold. This example simply explains that there is little demand for ice cream in winter. Due to this reason, most ice cream sellers shift to other professions as the leaves change colour.
Water parks, summer camps, restaurants, and open-air activities suffer a shutdown during peak winter seasons. This means that some businesses are operational seasonally only.
For such businesses, it’s very important to manage seasonal income. Such business owners can also apply for personal loans in Delhi to cover any urgent financial needs.
In this blog, you can find several strategies to help you manage seasonal income.
So, follow along.
Reserve Surplus for Off-Season
Let’s suppose that you own an ice cream stall. Accordingly, your business will touch its highest revenue mark in May, June, July, and August. Similarly, the lowest revenue will be hit in December and January. Now, how will you sustain yourself during months when your business is making no money?
You need to be prepared for such situations. That’s why it’s necessary for you to analyse which months are the best for your business.
A Very Tight Off-Season Budget
For example, your business was able to generate revenue of ₹2,00,000 in the month of April. Then, would you spend or invest the entire amount? If you want any expert advice, then we are here.
In the off-season months of your business, you will need money for two kinds of needs. First is fixed expenses to sustain yourself, and second is variable expenses to keep the business going. For example, if your ice cream stall business is not operative in November and December, you will still need to maintain your ice cream stall. What if there are some repairs in its wheels or maybe the ice box is leaking?
You should consider all these factors in your peak business years.
Off-Season Negotiation
Let’s suppose there’s a forecast that the summer season will be 2 degrees warmer this year.
In such a case, your ice cream suppliers will overcharge you or give the stock to someone willing to pay more for the same quantity. That’s why you need to share good long-term relationships with your suppliers.
What’s Your Off-Season Business?
What do you do apart from selling ice creams? It’s important to have a side business when your main business is dependent on seasons. For example, you can open a fast-food stall in winter and continue with your ice cream-selling business in winter.
Short-Term Financing
If you don’t have any cash reserved for your business needs, then you can always ask for external financing. For example, you can apply for a personal loan in Delhi or pitch your business to some investors.
Conclusion
As soon as the festive season starts in India, the seasonal business will aim at hiring nearly 6-7 lacs temporary employees. These temporary employees will help these businesses record sky-high revenues. However, after the peak season, the business and the employee will shift to another source of earning. In times like these, it’s important to follow all the tips and tricks mentioned above.