It’s time to promote small businesses everywhere. If you’re a small business owner, you already know that Small Business Saturday is November 30th. Since it falls the day after Black Friday and right before Cyber Monday, this could turn out to be a very busy shopping weekend for small businesses and customers alike. This is true, especially because Thanksgiving will be later this year, and there will be fewer holiday shopping days before Christmas.
Small Business Saturday is the creation of American Express. It began in November of 2010 as a day meant to encourage shoppers to support their local small businesses. Will your small business be ready? Below are things to consider as you prepare for Small Business Saturday.
- What’s on sale? What products or services do you want to promote? If you plan on offering special discounts for that day/weekend, figure out how much you can offer and still make a profit. For instance: Depending on your type of business you might offer a 20% discount, buy one get one free, or buy one and get one ½ price.
- Check your inventory. You will need to make sure you have enough of the items you want to sell stock in your inventory. When customers visit your store or website, they will expect to find the items you’ve advertised. Once you get the customers interested, they may see other items of interest.
- Marketing. Get the word out early that you’ll be participating in Small Business Saturday. Promote your product/ services by placing ads in the local newspaper, mail out circulars to any potential customers, and don’t forget to use social media sites to promote your business too. Once you get customers in the store or on your website, who knows, they may just find even more interesting things to purchase.
- Employees. This is an important weekend to kick off the holiday shopping season and promote your business. Be sure that you have enough well-trained employees to help all your customers. Include all the dos and don’ts of your store policies such as returns, security, and how to handle those irate customers. Proper training will help you avoid long lines and irate customers while offering a good and safe shopping experience for all concerned.
- Shipping costs. For brick and mortar stores, you could offer free or discounted delivery within a certain area. For your online shoppers, you might consider offering free shipping for customer orders that spend a certain amount as a way to attract customers.
- Security. At any time of the year, your top priority is protecting your business and customer data. Whether your business is a brick and mortar store or strictly online shopping, it’s essential that your software is always up-to-date and secure.
By supporting your local small businesses you not only support someone’s dreams of a successful business, but you are also putting money back into your local economy.
At Summit CPA we offer multiple resources that will help get your business on the right track. Contact our office at (866) 497-9761 to schedule an appointment with our advisors.