4 Industries Affected by Seasonal Sales

4 Industries Affected by Seasonal Sales

by | Sep 15, 2022 | Blog

Most, if not all, companies are affected by external factors. External factors can include the price of gasoline, the weather, and events happening around the world. If you own a business whose sales increase and decrease with the seasons, you know how tough this can be. There are many reasons why a business thrives in one season of the year and not another. They could be directly affected by weather, such as a ski resort or construction company financing business, or they could simply be located in a tourist town. Here are four industries that are affected by seasonal sales. 

1. Hotels and Restaurants

Hotels located in certain regions of the country are greatly affected by seasonal sales. For example, many businesses in coastal New England reduce their hours or close altogether during the slow winter months. As a result, hotels and other businesses that serve tourists make much less money during these times. A consequence of this is accommodations having to raise their prices for half the year and greatly lower them for the other half. Similarly, restaurants and fast food locations popular with travelers see a decline in sales as local tourism wanes. 

2. Construction

One of the main reasons for construction being a seasonal industry is that in many parts of the United States, it is not feasible to build during the winter. When the ground is frozen, it is much more difficult to build and place the foundation for a building. Another reason is that people simply relocate less during the summer, partly due to school schedules. People specializing in construction company financing keep these reasons in mind when talking to those in the construction industry. 

3. Tax Preparation

While many accounting firms operate year-round, businesses that focus on tax preparation are mainly only open in the months before taxes are due, which is mid-April in the United States. During the off-season, these services may operate on an appointment basis or may close for good, with the employees working for similar industries during this time. 

4. Sports Teams

Most sports are played seasonally. For example, professional football sees its heyday in the fall and early winter months. Many temporary employees work for college and professional sports teams during their season, or when that particular sport has a large number of viewers. 

If you own or finance a business in one of these industries, seasonal sales may affect your profits. At My Commercial Capital, we can provide your business with the working capital you need to grow. Our commercial finance solutions are structured to provide maximum benefits to borrowers. We treat our borrowers very well, which is how they know they can trust us with all of their financing needs.

3 Facts About Women Business Owners

by | Sep 8, 2022 | Blog

In many industries, women are an underrepresented group. The reasons for this include factors such as working hours not being conducive to taking care of young children, as well as traditional and societal views of what types of work women should do. For example, engineering and architecture are two career fields that are very male-dominated, primarily due to societal views. But does this hold true for female entrepreneurs? Here are some facts about women owners of businesses. 

The Number of Women in Business Is Climbing

Women in business are a trendy topic, in no small part due to the fact that each year there are more and more female entrepreneurs rising through the ranks. As of 2021, approximately 40% of businesses in the United States were female-owned, and this figure keeps increasing. It is becoming more widely known that diversity in business ownership is great for the economy since everyone brings different perspectives to the table. A growing number of companies are striving to bring in a more diverse workforce at all levels of their business. 

Female Business Owners Thrive in Leadership

Studies have shown that women who lead teams of employees are ranked very highly by their teams, often higher than men in similar roles. Leadership is one of the most important aspects of running a business, because you need to be able to take the initiative and motivate those who work for you. When leadership is strong, a company thrives, makes more profit, is more productive, and is more likely to achieve what it set out to do. The four types of leadership are direct, support, coach, and delegate, and a team works best when there are all four varieties in play. 

There Is Room for Improvement

Even with all the strides that women in business have made, there is still room for improvement. For example, it has been shown that it is easier for men to receive funding for their business ventures. Women are also far less likely to be in charge of a Fortune 500 company, or even on their board of directors. One of the ways to improve these things includes having more investment opportunities geared toward women. There is also beginning to be a cultural shift at large companies where they are beginning to hire more women for executive positions. 

Patronize and help support a women-owned business if you are able to do so.