Many businesses experience high and low seasons. While some might have steeper curves than others, they all have to make prior preparations to make the best out of the peak and survive the off-peak period.
Merchant cash advance programs suit seasonal businesses the most, mainly because they offer the traders the option of using future sales to finance their immediate needs and expenses. And when the peak season comes, the merchant can quickly pay the cash advance.
If your business goes through highs and lows, read on to find out how much a cash advance can help you maximize sales when customer demand is at its peak.
- Stocking up on inventory
In anticipation of the high season, you should have enough stock to satisfy the influx of new clients. You wouldn’t want to see buyers walking out of your store and into a rival’s because what they’re looking for is sold out. Signing up for a cash advance will get you the funds you need to buy as much inventory as possible and ensure your shelves remain populated all through the peak period.
- Getting more employees
The peak season can be overwhelming to your existing staff, and to minimize the long queues and serve customers faster, you will need to hire additional workers, at least until the season is over. But instead of waiting for your sales to materialize, applying for a cash advance can give you enough money to pay your larger workforce on time, and ensure their hard work.
- Making upgrades
One of the ways to keep busy when sales are slow is making improvements. If you run a motel business, for example, the chances are high that you enjoy increased booking rates in the summer and the holidays.
You could, therefore, knock on the doors of a company like First American Merchant and get a cash advance to facilitate repairs and renovations in the cold months of winter. This way, your premises will be customer-ready when the peak season comes.