Preparing Your Small Business for Sale During the Holidays

For retailers of all sizes, the holiday period is clearly the biggest sales period of the year. But even if you do not consider yourself a retailer, the holidays should still be a profitable time because people are generally in a buying mood. And this year, consumers have more money to spend because of lower fuel prices, which should benefit everyone.

Follow these steps to capitalize on the holiday spending season and make your business more attractive to prospective buyers. If your business is booming then it will attract more buyers so it is important to have a deliberate plan of attack. Here are some tips for making the most of (what’s left of) the holidays:

Make a Positive Impression on your Customers: The holiday season is not only the most profitable time of the year. It is also the time when many consumers will experience your business for the first time. The last thing you want to happen is for these customers to develop a negative impression of your service. The best way to “wow!” your customers is to make sure you are properly staffed with friendly employees that will leave them feeling good. So if necessary, bring in some extra help for the last minute holiday rush. The extra investment in manpower will likely pay many dividends throughout the upcoming year.

Be in the Holiday Spirit: Another way to leave your customers with a strong impression is to make your business more than just a place to shop, but also a place to experience the holidays. Decorate your establishment with all the holiday décor, but beyond that, consider giving out candy to the kids, hot chocolate to everyone and whatever else will make your customers more festive. Remember, the better they feel being in your store, the more inclined they will be to open up their pocketbooks.

Offer Incentives to Shop Now: The law of supply and demand usually dictates that the greater the demand, the higher the price of a good or service will be. By that logic, it stands to reason that prices should be higher during the holidays. But we all know that is not what really happens. Why? Because businesses know that this is the time of year to bring customers through the door. Even if you have to discount your merchandise, you will more than make up for it with a higher volume of sales and as mentioned earlier, you will have the opportunity to introduce more consumers to your business for the first time.

For these reasons, it is a good idea to offer special discounts that are only available this time of year. We are not talking about the usual sales that happen every couple weeks throughout the year. During the holidays, it is important to give consumers a deal they will not see again until next year at this time.

Being prepared to fully capitalize on the holiday rush is one of the best things you can do for the bottom line of your business. Your accountant will thank you for it, and when it comes time to sell, your business broker will find it much easier to bring in a buyer when your books show strong holiday sales.

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