Is it a good idea to launch a small business in the summer when many consumers are on vacation or just taking it easy? The answer is yes! Summer could be the ideal time to launch a startup. Here’s why:
- You may have more free time.
If you’ve already started planning your new venture and have completed your research, you could launch your new small business during your summer vacation. If your company offers summer Fridays, use those days to handle issues that require you to be there in person, such as scouting a location or opening a small business bank account. - Consumers are more receptive to trying something new.
Consumers tend to be more relaxed in the summer, often making them more receptive to trying something new, whether that’s a new store, service, or restaurant. If they’re on vacation, chances are they’re even more open to new experiences—and with today’s technology, it’s easier for local businesses to retain customers from other areas. Seasonal and part-time help is more accessible.
With schools closed for the summer, students or professionals in the educational space may be looking for temporary work or even internships. You’ll likely need some additional help ramping up during those initial months, and part-time workers can be a great resource while staying within your budget.
There are some businesses that are ideally suited to a summer launch. You may want to consider:
- A bar or restaurant. The restaurant industry tends to flourish during the warm summer months, especially if you live in an area that’s a popular tourist destination. Get noticed by participating in “A Taste of” events, often held in cities and towns with lots of foot traffic, outdoor entertainment, tourist venues, or summer fairs.
- A home improvement or landscaping business. Services catering to seasonal tasks, such as home improvement and landscaping can also thrive during the summer season. At the start of summer, push seasonal services, such as pool cleaning, lawn care, etc. As the season draws to a close, create a sense of urgency to get customers to act on getting their homes ready for the coming fall and winter. (Think house painting, remodeling, or home repairs.)
- Retail. Back-to-school has become a prime driver for summer retail sales, including clothes, accessories, school supplies, and even decor for college-bound students.
- An activity center. Children’s extracurricular activities, such as summer day care, sports clinics, and music or art programs are sure to be a hit with working parents who need someone to entertain the children while they’re at the office.
- Fitness or nutritional counseling. With millions racing to get in shape for the summer season, a personal trainer, nutritional counseling, or other fitness-oriented businesses can capture a lot of customers this time of year.
Disclaimer: Fundbox and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.