Visit an Accountant Before a Business’s Holiday Rush

Every company needs to be prepared for the busy times. Many small businesses make enough money during the holidays to carry them through the slow times throughout the rest of the year. It is essential to consult a small business accountant before a significant influx of sales and money. You won’t regret having your books in order and meeting with a small business accountant in order to weigh the benefits of particular investments in your holiday marketing strategies.

First Steps for Small Businesses

  1. Review Your Company’s History During the Holidays: When meeting with a small business accountant, be sure to look over how your business has performed in recent years during the months of November and December. Together, you can set goals for this year and discuss how to go above and beyond what you’ve profited in years past.
  2. Consider How Covid-19 May Come Into Play: This year is different because we are in the middle of a pandemic. Unfortunately, small businesses have been hit hard during this time. Meet with a small business accountant to strategize how to overcome the trials that the pandemic has introduced. It is better to be prepared and educated rather than blindly hoping for the best. A small business accountant will review the cost of safety procedures like providing hand sanitizer, installing plexiglass shields, and spreading out sales to encourage social distancing.

Meeting with a small business accountant will only benefit you as you layout your goals for the 2020 holiday season. An accountant with expertise in small business will offer ideas about navigating sales during Covid-19 and how to set your company apart from other small businesses.

Investment Options During the Holidays

Hiring Extra Holiday Employees

As your store gets busier during the holidays, more employees must be present to handle the extra traffic. No one wants to wait in line, so you can offer a second cashier. Ensure you have enough employees spread throughout the store to answer questions or offer a shopping basket to someone with full arms. People expect full attention from a small business shop; it is what sets small businesses apart.

Advertising on Social Media

Those Instagram ads that we’re all familiar with really draw people in and return significant gains. If you want to ensure an increase in sales during the holiday season, then tap into where people are spending most of their time and invest in social media advertising. Consult a small business accountant to pinpoint how much money you should invest in order to get the return you need.

Holiday Decor and Displays

If a customer chooses to shop small business this holiday season, they want to walk into a quaint, charming shop that makes them feel warm and welcome. Use your personal style to make your store feel at home. When you use decorations that are specific to who you are, you create an intimate space that feels special. Investing in holiday decorations will be worth it once you’ve made a unique atmosphere that your customers can use as an escape.

Many customers walk into a store with the intention to browse for gift ideas. Get creative in your holiday displays, posting signs of gift ideas or pictures of real people unwrapping the product. Make things more sparkly, vibrant, and eye-catching to make people feel in the holiday spirit.

Quality Customer Experience

If there is anything worth investing in this holiday season, it is the customer experience. Conduct a special holiday training where customer service is emphasized. If your employees go above and beyond to give a big smile and genuinely ask about the customers’ needs, that can go a long way. Your customers will remember how validated they felt inside your store and will want to return again and again throughout the season.

Make your checkout process simple, offering no contact or touchless checkout for those worried about germs. Have a generous exchange and return policy that is easy to navigate. Offer gift-wrapping or unique packaging that is different than the regular plastic bag. The ease of these processes will go a long way when it comes to customers choosing to shop with you for their next gift.

Promotional Pricing or Offers

During the holiday season, a small business must be competitive in offering sales and promotions. This is how you catch the customer’s eye and get them in the door. You can offer 30% off everything or a free gift for each purchase over $50. You can offer a cash bonus with a gift card purchase. Whatever the promotion, you do have to offer something if you expect an influx of customers in your store. When you meet with a small business accountant, you can go over a practical sale to offer to get people in the door while still making a profit.

Several Shopping Options

We are in the middle of a pandemic, and people will be looking to shop safely during the holiday season. Invest in an online platform if you haven’t already. Offer virtual tours of your store and curbside pickup. Take your most popular items out to the sidewalk and offer an option to shop outside in the open air for customers who feel most comfortable in that manner. Some retail companies have even provided a delivery option during this time, going above and beyond to satisfy customers.

Regular and Engaging Social Media Posts

Your social media account is vital during the holidays. Especially during Covid-19, when everyone is staying home more and looking into online shopping, then you’ll need to keep your customers updated through social media. Post about your sales regularly, and release new content daily that will pull your audience in and keep your company at the top of their mind. This will take a significant investment of time and dedication but will be worth it in the end.

Surviving a Holiday Lull

If you have had a holiday rush in the past, and it doesn’t look to be in the cards for you in 2020, then contact a small business accountant to help you prepare for that lull. Some restaurants, bars, salons, and spas may specifically be struggling this holiday season compared to years past. Here are some tips to keep in mind to get you through the hard times:

  • Don’t Overspend: Consider the current year and do not overspend on inventory to match previous years’ sales. Be realistic about how your sales have been the past several months and prepare for a small uptick that may come through holiday promotions. If you consult a small business accountant, they can use their industry expertise to find what money you have to spare and how to invest it during this difficult time.
  • Keep Holiday Promotions Consistent: If you do not see the return you saw last year during the holidays, do not get discouraged and give up. Continue with your holiday promotions and let the customers know you are always there. If they continue to see your social media posts and holiday spirit, your store will be on their mind when they get their next paycheck or a holiday bonus.
  • Stay Connected with Clients: If you have special customers, then show them your gratitude by giving Christmas gifts. Even if they aren’t spending money with your store this year, show that you care regardless of their business. Real connections will always shine through when times return to normal.
  • Be Flexible: If you can find any way to promote your business that fits with the current pandemic climate, then go for it. Offer gel nail tutorials for customers who have decided to do their own nails at home. Package your beer or wine to be picked up – you can paint a picture of nights in front of the fire with a bundle of wine and cheese and crackers. Learn how to pivot your business to keep your customers active.

Not every small business that was booming last year will experience the same in 2020. It won’t help to be in denial and think that the holidays will save your business. Be realistic and prepared for a holiday lull by visiting a small business accountant. You may think your business is hopeless, and an accountant can provide you with some hope.

Schedule an Appointment with a Small Business Accountant

It is tempting to save money and do your own accounting. But when it comes to the holidays and the potential holiday profits, you don’t want to make a blunder by offering too big a discount or hiring too many employees. Meeting with an accountant who looks at past years’ profits and takes Covid-19 shopping trends into account will only benefit you and your business.

The holidays are a busy time for every business. Ease some of that worry by calling a small business accountant today. Our team at Easier Accounting specializes specifically in small businesses. We can use our expertise to answer any questions you might have about getting your company ready for the holidays. Please schedule an appointment with us by calling (888) 620-0770.

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