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6 Ways to Prep Your Transportation Business For the Holiday Season

oct-4It’s never too early to start prepping for the holiday season – especially in the transportation industry. From October until the new year, your business is in full swing. In order to make the most of this year’s holiday season, you should start planning now! No matter if you’re planning a holiday sale, prepping for a new marketing strategy, or looking to secure major profits to start off the new year, follow these 6 tips to easily reach your goals.

Prepping Your Transportation Business For the Holiday Season

1. Stock Your Inventory

Don’t wait until any longer to start stocking up on your inventory. Stocking up on inventory now will allow you to spread out your expenses during the busy holiday season. Many suppliers often offer lower prices per-product when you purchase in bulk. This is a great opportunity to take advantage of before the holidays.

2. Start Setting Aside Funds

During the holiday season, your transportation business will come across an influx of business. With more business comes more spending. By putting aside savings now, it will ensure you have padding to cover those expenses. Many great opportunities can come your way when you are busy. Don’t let them slip away because of lack of capital. Start setting aside funds now so you can take on new challenges and opportunities with ease.

3. Consider Non-Recourse Transportation Factoring

Non-recourse transportation factoring is a great way to aid your efforts of building a strong source of capital. Non-recourse transportation factoring allows you to sell your outstanding invoices to get an advance of up to 96% with low rates. With this, you will never have to wait for invoices to be processed and paid again. With non-recourse transportation factoring, you don’t have to worry about taking on any additional debt. With non-recourse transportation factoring, the factoring company takes on 100% of the risk if your client neglects on payments.

4. Set a Budget

Now is a great time to set and stick to a budget. Right before the holidays, you should take the time to look at your finances, or your business plan, and see where you stand. You will be able to see where you can pull back expenses and where you have more room to spend. Many transportation business like to offer sales and discounts for the holiday season to bring in even more customers. By setting a budget now, you will be able to see just how much you can afford to discount your services.

5. Consider Temp Hiring

If your business tends to struggle to keep up with the demanding holiday season, you may want to consider taking on temporary help. Temporary staffing can help immensely in the coming months, but be sure that you take a look at your business’s budget to ensure that you have the funds to pay your new staff on time and in full. 6. Set Up Your Holiday Marketing Plan Now that you have your plans in motion, it’s time to attract new customers. Without a solid holiday marketing plan, no one will know about all of the incredible deals and services your transportation business is offering. Create a solid marketing strategy and start to execute it now. Starting your marketing plan now to avoid added stress, costs, and other discrepancies during your busy holiday season.

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About the Author:

Robert Bernfeld started in the commercial finance industry in 1974. His early years included positions with Aetna Business Credit and Foothill Group. During the next thirty five years. Mr. Bernfeld established both equipment leasing and accounts receivable factoring companies. He partnered in founding Business Facilitators, Inc. in 1999. Mr Bernfeld graduated from the University of California, Riverside in 1974 and received his Juris Doctorate from Loyola University School of Law in 1977.

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