"I own an upscale business in the wedding industry which has been hurt by the economy. I'm thinking of turning my full time business into a seasonal business. Do you have advice on how to make the transition?"

January 27 2009 - Syracuse Post Standard

TRACY:
Not all entrepreneurs run full time businesses. My parents owned a seasonal ski shop, golf courses are seasonal, and some companies in tourist towns operate only six months of the year. Converting your full time business into a part time business might be a smart idea.
The first thing you should do is revisit your business plan and concentrate on cash flow and expenses. Seek out financial advice from a business advisor if you need help with sales projections and expense management. Secondly, revise your marketing plan and create a strategic plan that promotes your business prior to the opening of your season and when you are busiest. I would market differently in the off season with customer communication pieces opposed to traditional advertising.
Thirdly, seek out other part-time businesses in your community and ask for advice. If you find part time, complimentary companies in your region, you can learn from them and possibly form strategic alliances to help both businesses prosper.

Julie:
There are a few people in my industry who do this, and there are some advantages. You're only renting space for the peak season, there is no excess inventory because it's purchased after the orders are received, and they only handle multiple orders which are more efficient to produce. We decided against doing it ourselves because while the bulk of our business does come in during the holiday season, most of our clients do order during the year. If we weren't there to handle their everyday business, we weren't sure that we would be able keep their holiday business.
In your case this wouldn't be as big of an issue. The wedding industry depends on word of mouth referrals rather than repeat business throughout the year.
But, the other issue that comes into play is having another job or business that will support you in the off season. You have to be doing something that allows you to stop and focus on your business for 3 months out of the year.

Theresa:
Actually my advice would be not to become a seasonal business. Especially in the wedding industry, which I realize is busier in certain months of the year, but you certainly do have clients that get married in all months.
Losing your market share is a huge concern if you are not available year round. As soon as couples become engaged, they begin looking for vendors to create their wedding day. If you have closed up shop during that time, you could be losing a great deal of potential business.
If the economy is hurting your business, play into your customer's needs. Offer discounts for your services paid for in full during off months. Use off months to really push marketing; be a guest speaker, work with other wedding suppliers to promote your services or put on informative workshops during these months to make those critical contacts. At the very minimum, I would keep limited office hours for those important contacts.