Plan now for a great summer break
Summer break presents a number of opportunities and challenges to franchisees. For those involved in educational franchises, there is significant opportunity to increase profit margins by offering summer camps, additional tutoring, and partnering with local schools to deliver extracurricular activities. For retail establishments, you may be looking at your cash flow forecasts in dismay as you realize that many of your regular clients are likely to be away for a month or more.
Whichever camp you fall into, fear not. With a bit of careful planning, you can maximize your opportunities and reduce your challenges so that this summer break will be your best one yet, both personally and professionally.
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Determine your priorities
It is perfectly okay for your priority to be enjoying some downtime with your own children. If this is the case, decide early whether to temporarily close your business over summer break, operate reduced hours, or take on extra staff to run it in your absence.
You may decide that reduced footfall during summer break offers the perfect opportunity to refresh staff training, remodel your store, or update your technology.
If your priority is maximizing your income over this period, seek out opportunities to do so. Will your area be a tourist hotspot? Will there be community events that you can attend? Even if it is outside of your usual operating remit, as long as your franchisor is happy with your proposals, summer break offers the chance to embrace innovation in your marketing and selling efforts.
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Solidify your staffing arrangements
Make sure that your employees understand and are on board with whatever plans you have made for summer break. If you need to take on extra staff, either to bolster the team over what may be a busier-than-usual period or to backfill permanent employees who are taking time off, get those job ads launched now.
Make sure that you have prepared an achievable and realistic schedule that allows all of your staff time with their family yet keeps the business running effectively without putting undue pressure on yourself.
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Be honest and transparent
Whatever your plans for the summer break are, communicate them honestly and early so that staff, customers, suppliers and other stakeholders understand your availability and can plan around you. Make use of your digital channels and your storefront to spread the word about your summer break plans, especially if you are expecting exciting new stock or are going to be offering new services or attending local events. Generate a buzz early to increase profitability over the summer break period.
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Finally ...
Summer break is not just about the children. As a business owner, take the time to appreciate and enjoy the flexibility that comes with your role. Being able to adapt your working hours and practices to suit your particular circumstances is a major benefit of being a franchisee, so make the most of it.
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