• For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
  • New Suppliers
Facebook X (Twitter) Instagram
Friday, December 1
  • Subscribe
  • Submit Content
  • About Us
    • Contact Us
  • Advertise
    • Display Advertising
    • Email Marketing Campaigns
    • Newsletter Advertising
    • Sponsored Content
    • Lead Generation Services
  • Top Product Sources
Facebook X (Twitter) Instagram
WholesaleCentral.com Blog
  • For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
  • New Suppliers
WholesaleCentral.com Blog
Home»For Buyers»Retail News»Bracing for the Season: Three Tips for Financing your Business
Retail News

Bracing for the Season: Three Tips for Financing your Business

PublisherBy Publisher3 Mins Read
Facebook Twitter Email
Share
Facebook Twitter Email

by Meaghan Brophy

business owner looking over the finances

The National Retail Federation predicts that sales in November and December will total around $630.5 billion.  With total sales increasing on average 2.5% year-over-year, many retailers are considering financing options to make the most of the holiday season. Stephen Sheinbaum, Founder of Bizfi, offers some useful insight on how to go about financing for the holidays.

Embrace the Seasonality

Like any business, retail has a busy season and slow season. Embracing this flow instead of fighting it will help stabilize the business, and allow for better planning all year round. Typically, according to Sheinbaum, January 1st – Valentine’s Day is the slowest season for retailers. By knowing this ahead of time, it is easier to prepare for the cash flow drain.  First and foremost he recommends downsizing your labor force if possible during this time. A common fix for this is hiring seasonal employees just for the November – December months. Alternately, knowing that the last months of the year will be the busiest means stocking up on inventory and participating in more advertising options to maximize the holiday sales which are critical to annual success.

Start Early

Financing Your Business

Next, Sheinbaum recommends that businesses start financing for the holiday season as early as the second quarter. Gearing up for the holiday rush early allows for more efficient planning. By financing early, businesses can stretch holiday expenses throughout the year. Even if stocking up on inventory a little each month isn’t logistically possible, having the cash flow early to set aside each month eases the burden and allows for more thorough planning.

Understand all Options

Bizfi is an aggregation marketplace offering retailers and small business owners a large variety of finance options. With over 45 partners, the site is able to offer real time automated quotes from a variety of bank and non-bank lenders. Whether your business is planning ahead for the holidays, or in need of last-minute cash flow, there are support teams available online and over the phone to guide you through the application process. In the third quarter, Bizfi was able to finance over 3,500 companies to help for the current holiday season. When looking into financing, to get the best options Sheinbaum recommends preparing bank statements, tax returns, a copy of the business lease, and any business plans. The most important thing is transparency. Funding partners are looking for someone who can speak candidly about their business.

These three tips will help guide you through the process of financing your business to maximize holiday sales, leading to greater annual sales and year-over-year success.

Bizfi
460 Park Ave South, New York, NY 10016
Tel.: 855-462-4934
www.bizfi.com

finance inventory sales
Share. Facebook Twitter Email
Previous ArticleThe Home Décor Destination: AmericasMart® Atlanta
Next Article SJT Announces New Surfboard Plaques for 2016

Related Posts

5 Essential Tax Season Preparation Tips

Technology to Prepare Your Store for the Future

2023 Retail Success Guide

Sign Up for Buyer Updates
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

how-to
Wholesale 101 for Buyers

Amazon Return Pallets For Sale: How to Profit

11 Mins Read

A big trend among some online sellers is buying Amazon return pallets and overstock and…

Product News

Overstock Liquidations

6 Mins Read

Overstock inventory refers to the excess goods or merchandise that a retailer has on hand…

Retail News

5 Essential Tax Season Preparation Tips

10 Mins Read

Are you ready for tax season? April 18 is approaching quickly, and many day-to-day decisions…

Wholesale 101 for Buyers

How to Create a Google Business Profile

6 Mins Read

Looking for new ways to get your brand noticed? Creating a Google Business Profile can…

Latest Posts

Wholesale Christmas Holiday Gifts 2023

The Ultimate Back to School Wholesale Guide

2023 Summer Wholesale Jewelry and Fashion Accessories

Top Wholesale Pet Supplies

Amazon Return Pallets For Sale: How to Profit

2023 Wholesale Apparel Trends

  • About Us
  • Subscribe
  • Contact Us
  • Advertise
  • Find Wholesale Sources
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Follow Us:

Copyright © 2023. Sumner Communications, Inc..

Type above and press Enter to search. Press Esc to cancel.