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One of the most difficult aspects of owning your own company is having to adapt to fluctuating business challenges. For many companies, business comes in cycles. Some months are extremely busy where it seems almost impossible to keep up with demand. Then, you can have seasons where business slows down and things are too quiet. While all businesses experience some degrees of seasonal ebbs and flows, the construction industry is particularly impacted by slower sales during the colder months.
So how can your construction company make the most of the slow season and come out on top? Consider these tips:
Indoor jobs like bathroom or kitchen remodels, flooring installation, or painting can still be done during the wintertime. Offer your customers special seasonal promotions or discounts to incentivize them to get these services done during your off-season.
Attending events like tradeshows or conferences are useful for a few reasons. They provide great opportunities for you to network with others in your industry and can help you stay up to date on the latest trends.
These events are also an excellent way to get in front of potential customers during the off-season. Remember to stay in touch with them after the tradeshow. This will help you remain top of mind when the warmer weather returns and they’re ready to begin their construction project.
Being flexible and having an open approach towards new ideas and strategies is so important for small business owners. Things are constantly changing, and for construction businesses to thrive during the slow season or any difficult challenge, they have to adapt to the times and have a contingency plan.
One way to stay busy and keep bringing in revenue during the off-season is by expanding your services. Consider temporarily pivoting to areas where you make use of some of the resources and equipment that you already own. Services like snow removal, winterizing lawn sprinkler systems, and cleaning air ducts all need to be done in colder weather. You could even consider offering holiday decorating services and the installation of outdoor Christmas lights.
Use the slow season to secure funding to give you the financial tools you need to keep building your business. Having extra capital in place before the busy season can really give you a leg up on your competition. You can either use the funds to:
Or you can use your funds later when business picks up to:
We understand the ebbs and flows of the construction industry, and we’re here to provide custom loans that works for your business. Apply today to see how SBG Funding can help.
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