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May/June 2019
Seasonal Businesses
For many businesses, summer earnings will comprise the vast majority of their income. How do you get the most from this short season?
Manage Your Cash:
Keep a lid on expenses and purchase sale items. Avoid overbuying and pay close attention to outstanding invoices.Anticipate Bumps:
Keeping a cash cushion becomes vital when bad weather or even a natural disaster slows your business to a crawl during peak season. You can manage your cost of risk by carrying property, liability and flood insurance.Get Creative:
Hire retirees or teens looking to work a few months a year. Work with complementary businesses to offer discounts and other deals to your customers. Create an alternative income stream or two. For example, landscapers might turn to snow removal during the off-season in areas of the country with four seasons.What About You?
While your business may be seasonal, your financial wellbeing should be maintained year-round. Leverage business dollars to invest for your future in retirement.CONTACT US
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