What are seasonal/holiday businesses that can be leveraged to build bigger businesses over time?
The following answers are provided by the Young Entrepreneur Council (YEC), an invite-only nonprofit organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.
Business should leverage all holidays in order to build their business. For example, going all out and decorating your showroom floor for every holiday will get lots of customers coming by just to find out what your layout looks like. You can’t build a bigger business without getting customers in the door.
It’s easy to create a seasonal business offering gifts in the months leading up to the winter holiday season. But you don’t have to assume that such a business can only operate a few months out of the year — it’s a matter of labeling to pick up Valentine’s Day, Mother’s Day and all the rest. It’s a particularly easy way to get into the market for crafters and other creatives.
Subscription businesses whose products work well as holiday gifts can create a recurring revenue stream that continues long after the holiday season. Figure out how to turn your holiday shoppers into long-term customers and you’ll capture substantially more value.
A classic business for young entrepreneurs, with a low starting cost, is snow removal. If he’s willing to wake up early and do manual labor, snow shoveling, blowing, or plowing can turn a hard-working young entrepreneur into a full-time landscaper or handyman.
Personal holiday shopping could turn into a full-time personal shopping or personal assistance gig. People need support and they are incredibly busy and the holidays are no exception. Someone that could do a person’s holiday shopping for them and even gift wrap the purchases would be in high demand — especially amongst the busy, entrepreneurial crowd.
In Arizona there’s a company called Fairytale Brownies that was founded in 1992. They own Brownies.com. Their business is focused on the holiday season. By leveraging a holiday sales strategy and delivering a good product, they not only grow their holiday sales year after year, but they also increase their brand awareness throughout the year for brownie sales.
No matter what the seasonal business type is, collect as much customer data as possible. Utilize that data set to re-market your product if/when you change your business model to a NON-seasonal product.