First Bank of the Lake: 3 Seasonal Business Tips for Success

As a bank at the Lake of the Ozarks, we know that there are a great deal of businesses in this area that are seasonal. These businesses are typically attempting to make enough money in the spring/summer season to last them the whole year. That being said, First Bank of the Lake is here give a few seasonal business tips for success. If you are thinking of starting a new small business at the Lake of the Ozarks and are in need of financial assistance, speak with one of our SBA loan officers today. They can be reached by calling (573) 348-2265.

1. Keep marketing your business during the off season.
Even if your business mainly operates during the summer or spring, you can still remain relevant online and throughout your other marketing efforts. For example:

You can still make social media posts in the off season, just perhaps not as many.
You can scale back your radio ads to perhaps one every 2 months.
You can still send out an electronic newsletter, just maybe less frequently than you already do.

2. Consider ways your business can make money during the offseason.
For example, if you own a restaurant at the Lake, but only open from March to August or September, it may be worth considering opening up for a large event that may be taking place during the off season such as a pub crawl or something. You could make enough money during that one night that could result in a hefty profit.

3. Manage the expectations of your seasonal employees.
Make sure your employees know that this is a seasonal position. Some people thrive on having seasonal positions such as bartending positions at lakefront restaurants or beverage cart jobs at golf courses, they may rely on having that spring/summer income in addition to the full time job they already have. It is just important that they are aware of what they are getting into ahead of time.

If you are interested in starting up your own small, seasonal business at the Lake of the Ozarks, then you should consider checking out your SBA loan options.

Here's a quick look at some of the unique benefits that SBA loans can offer.

Long Term Financing
SBA loans offer long-term financing, which helps improve cash flow. In most cases, the loan is for a fixed term and will not have a balloon.

Low Down Payments
One of the uses of an SBA loan is to provide much-needed funding to businesses who are trying to get off the ground. Consequently, SBA loans often offer loan down payment options to make them affordable to their target market.

Several Different Loan Options
SBA loans are not "one-size-fits-all." In fact, there are several different types of these loans you can choose from. Your SBA lender at the Lake of the Ozarks will be able to help you determine which is best for your situation.

Want to learn more? Call our SBA loan officers at the Lake of the Ozarks today.

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