The Two-Step Plan to Starting a Seasonal Business
Michael Scotto of SCORE Ventura County recommends vital steps to take before launching a local business. He says it is vitally important to talk with small-business owners in your area before launching something new.
Scotto also recommends considering your products and services, pricing strategy and how you will turn a profit. “What are your revenue and profit goals for the season? Once you know that, work backwards to see how you will get there,” Scotto says. “You have to figure out, for example, if you are selling a service at $50 per hour, how many hours you'll need to put in on a weekly basis.”
Consider specific marketing and advertising strategies to get customers in the door. How much will those activities cost? Will they be worth it? If you aren’t sure, it may be time to visit a SCORE location. Just make sure you aren’t turning a hobby into a business without a well-thought-out plan of action.
“You must have focus and do a feasibility analysis on how your business will generate income,” Scotto says. “Everything is a mistake without a plan.”