Hope you had a GREAT Summer! It is officially over, and it is time to implement your off-Season business plan. Did you miss the Baldwin County “Taxpayer Workshop” for Businesses this week? Or do …
Hope you had a GREAT Summer! It is officially over, and it is time to implement your off-Season business plan. Did you miss the Baldwin County “Taxpayer Workshop” for Businesses this week? Or do you need to attend again? Mark your calendars for the last workshop of the year which will be Tuesday, Dec. 3, 5-7pm, Baldwin County Central Annex Auditorium in Robertsdale.
These quarterly workshops are at no cost and no pre-registration is requested. This workshop explains the importance to have the correct license, with the correct number of codes, separate business bank account, collecting and remitting the correct sales, rental, and/or use taxes. Here are some considerations for your “Off-Season” business plan.
Do you have enough cash in your business to get you to next Summer Season? Do not wait until it is too late before you seek financial assistance from a local bank or credit union. It is hard to borrow money when you have no cash and a reduction in cash flow. How do you know if you have enough cash? Analyze your cash flow from past years compared to this year. What has changed or stayed the same? Have you lowered your payments for the off-Season? Do you have the inventory needed or ordered? Pre-pay insurance and other items like this to reduce cost and the amount of cash flow needed to carry your business through the off-season? Have you developed an off-season revenue stream? Let’s brainstorm some ideas. Develop a snowbird program. Do you have an inventory for the snowbirds? What type of classes, speakers, or customers’ experience can you offer for our Winter guests? How are you going to participate/take advantage of Snowbird Fest 2020 in Orange Beach? How are you expanding your local customer base? What type of locals’ program can be implemented with little cost? Network with your local chamber of commerce and if already involved locally consider another one in the county to visit. “Friday Night Lights” is strong in Baldwin County. How can you seize the opportunity of this Fall tradition? People do business with people that they know, like and trust even in the “Off-Season”. Let’s get the “Off-Season” strategies identified and in motion for implementation.