Seasonal holidays are great times to promote and market your business. And valentine's day is no exception. Did you know, consumers are expected to spend a total of $20.7 billion this year.
This just blows my mind.
When I read that I asked myself, what businesses do well during this time and would it be worth it to start one of these businesses during Valentine's Day?
So, I began to do my research and found about 11 different types of businesses. They are:
Florist
Specialty stores
Discount stores
Clothing stores
Lingerie
Jewelry
Delivery
Hotels, motels, and resorts
Restaurants
Salon
Transportation business
A lot of these businesses are taking advantage of Valentine's Day to promote their different products and services. I'm not going to talk about promoting your business in the blog post, rather I wanted to write about starting your business during one of these seasonal holidays like Valentine's Day.
In my opinion, getting your timing just right to launch your business during a seasonal holiday makes sense. But there are certain seasons you want to focus on and some you want to avoid.
It Takes Time
If you are thinking about starting a business I would suggest you start planning now for next year. And having your launch date be Valentine's Day gives you 12 months to prepare.
But maybe you're thinking, 12 months is way too much time. But there are two things to consider. (This is for businesses that are going to be brick and mortar type business, a business with a physical location). You need to consider, one, the time it will take you to get a bank loan and two, the time it will take you to find a good location for your business. Those are the two tasks that will take you the longest.
Your location is going to be an important aspect of your business. You need to have access, parking, be in a centric location, etc. And it may even affect your bottom line. So you don't want to choose a location lightly. It takes time. You have to deal with leasing agents, possible construction work, designing the location, equip it, etc. and all of this takes time.
Getting a loan may also be time consuming. It's a process. You need to create a business plan with detailed financials, submit paperwork, credit check, and all this takes time as well. So plan for that.
Planning is Key
Personally, I love to plan things out. I plan out my day, my business, my writing, my vacations, just about everything. Why? Because planning is key. It helps me realize where I am and where I want to be.
Let's say you want to open a restaurant. The first thing you want to do is write a business plan. The business plan will outline your goals, objectives and mission it will also show you where you can be, who your ideal customer will be, where you can find them, who your competitors are, how the market is doing, will the market slow down, how a recession will affect your business, who you need to hire, your financials etc. You need to know all of this because you need to be prepared.
Not to mention, you're probably going to need to show your business plan to a leasing agents and a lender or investor. And like I mentioned before, this takes time. But once you have your business plan you're on your way to turning your business idea into an actual business.
Conclusion
So, consider the time it takes to actually launch your business. And consider the best season to launch your business. Once you have your business idea, write a business plan. Your business plan will solidify your business idea and help you get moving closer towards your goal. Not all businesses will work if you launch during a specific holiday but like I mentioned some will especially those who do really well during holiday's like Valentine's Day.