Dianne Williams, MBA

Certified Retirement Counselor®

Since 1983 in the financial services and investment industry


Retirement Pathways, Inc.

4965 U.S. Highway 42, Suite 1000

Louisville, KY 40222


Phone:  502-797-1258 




May/June 2019

Best Practices for Seasonal Businesses

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Summer’s coming and for many businesses, these 100 or so days will comprise the vast majority of their income. How do you get the most from this short season?

Manage Your Cash
When your sales are concentrated into a six-month or smaller window, you need to follow best practices in cash management. This includes keeping a lid on expenses and making purchases when items you need go on sale. Because consumer attitudes change, storing leftover inventory in the offseason could be costly, so avoid overbuying supplies and make sure you have room to store them. Also, pay close attention to outstanding invoices and maintain a cash cushion.

If possible, create an alternative income stream or two that would profit if your main business falters. For example, a business that rents bicycles at a shore location might also repair other people’s bikes. Landscapers might turn to snow removal during the off-season in areas of the country with four seasons. Or turn a hobby into a part-time gig during your offseason to keep the cash flowing.

Anticipate Bumps
Keeping a cash cushion becomes vital when a natural or manmade disaster slows your business to a crawl during peak season. This is common at summer resorts in the mid-Atlantic and northeast, where a few weekends of bad weather can take a huge bite out of what may only be a three-month high season. While you manage your risk, you can also manage your cost of risk by carrying property, liability and flood insurance.

Get Creative
Plan for success by hiring retirees or semi-retirees looking to work a few months a year every year. Or hire hardworking teens looking to earn extra cash. Work with neighbors and complementary industries to offer discounts and other deals to your customers. A restaurant owner, for example, might offer discount meal coupons to a local motel owner as an enticement for motel customers.

What About You?
While your business may be seasonal, your financial wellbeing should be maintained year-round. Leverage business dollars, when possible, to buy appropriate insurance and to invest for your future in retirement. Talk to a financial professional to learn more.


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* Securities offered through American Equity Investment Corporation. Member FINRA/SIPC. 4222 Grant Line Road, New Albany, IN 47150. Investment advisory services offered through American Capital Management, an SEC Registered Investment Advisor. Retirement Pathways, Inc. is independent of American Equity Investment Corporations and American Capital Management.

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