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If you do most of your business at seasonal peak times, such as Christmas, you will need to plan your business carefully to maximise your turnover during busy periods and make the most of quieter periods.

What plans should I put in place for seasonal peak times?

When trading during busy periods you should:

• Put a marketing strategy in place. This will help to maximise your exposure.
• Plan your cashflow. You will need to ensure you have sufficient cash reserves to purchase the stock you will require for your peak period and to see you through the quieter times of the year.
• Make sure you have sufficient stock. Check if suppliers can deliver the stock you need when you need it. Put contingency plans, such as alternative suppliers, in place.
• Check your distribution systems can cope with the extra demands placed on them during your peak periods. Consider factors such as adverse weather or delays due to the extra volume of Christmas post.
• Decide how you will store additional stock.
• Consider how you will fulfil orders if you trade online. Your website and distribution systems must be capable of handling larger order volumes at seasonal peaks.
• Plan your staffing. You could consider offering overtime, hiring temporary staff or outsourcing work during busy periods.
• Make the most of quiet periods. You can use the time to plan ahead, carry out routine maintenance, plan new marketing campaigns or review pricing, systems or suppliers.