Add a little colour to your off-peak trade & diversify your marquee hire business over the winter with a few simple ideas
However, with a little financial prudence, marquee hire contractors can ensure there is ample in the tank (bank) to keep on top of the business overheads (the largest portion of this being, staff costs), during the winter period leading into the spring time, when the first fruits of the following peak season arrive.
Yet the question remains...
With all that time at your disposal in the off-season, is there really nothing more to do than counting the days until the frost thaws out and reveals the tender undergrowth of the new commercial trading season?
Why not use the winter break as...well...a bit of a break?
One of the biggest issues you will have during the winter is not just cash flow, but also a means of keeping your permenant staff occupied with some gainful labour.
Just because you have the money to keep things ticking over the winter period, doesn't mean that you should neglect your duty as an employer of permenant staff, to keep them challenged and fulfilled in their commitment to your company.
But the question remains, what exactly can you do to give your staff something to look forward to on those dark winter mornings?
This is where a bigger picture perspective will prove invaluable.
When, as a business owner, you find yourself in the thick of things during the heat of peak season, campaigning day-to-day with your blinkers on - totally focused - it can be quite an unnerving feeling to suddenly be off the pace which you are so familiar with and to have underutilised time on your hands to think.
The key to redeeming this time here is to be innovative by sharing the burden with employees, asking questions and keeping an open mind.
Your staff (both in the office and rigging crew members) will often be your best source of new perspectives, and no doubt without much pursuasion they will be brimming (albeit, sometimes when you are least looking for it) with innovative ideas of how you could diversify the business.
Now is the time to bring out the old drawingboard and air out those ideas for some serious tire kicking.
A SWOT analysis (strengths, weaknesses, market opportunities, market threats) would be a good place to begin here. Running a comprehensive talent and asset audit to really see what you have in-house and therefore how equipped you are to make good of the opportunities uncovered from the staff huddle is diligent work.
What are the kinds of business diversification opportunities which may crop up in the SWOT analysis?
I suppose it really depends on who and what you've got under your roof.
It's really best not to pre-empt, but to keep it broad at this stage.
Prejudge and you could miss out in the latter stages on some unexpected outside favourites to lead the pack.
These are a few ideas which you might find help you and your team get going during your innovation huddle - a kind of catalyst for discussion (these suggestions are based on staff as outlined in this related post):
- specialist sewing repairs & alterations
- other types of rigging jobs
- order fulfillment
- PVC fabrication
- local delivery & removals
- office relocation
These ideas not only draw upon the availability of staff, but also business capital assets.
The combination of these internal resources, aligned with the right proposal, along with the right amount of strategic thrust could make for a very feasible and therefore successful off-peak business plan for your marquee hire operation.
For further business planning related help for you marquee hire business, visit: Marquee Hire Business Plan.
Categorised in: A Guide To Event Business Management
This post was written by selmore