Nearing the fall season, manufacturers are reporting on third quarter sales and fiscal finals. Toro has reported their sales are up through July thanks to warm weather and precipitation. On the other hand, Briggs & Stratton has shared they have closed their fiscal year with sales down as a result of cautious consumer spending. How has your business performed so far this year? However your year has gone, hopefully you are taking the time now to assess your inventory and develop a plan to finish the year strong.
If you are still working through a large remaining inventory, now is the time to look for ways to push sales and increase revenues. Fall equipment demos are a good way to remind customers of your offering and call attention to special promotions and available financing. Contractors are also coming off their peak season and have a desire to buy prior to year-end for tax purposes.
Now is good time to collect from your late-paying customers to ensure you make it through the slow season. Getting customers to pay you on time only protects your business. This article offers tips for on how to do just that.
As you move old inventory and collect from late-paying customers, don’t forget to reach out to new customers. Stay active in your marketing as you move into fall to encourage purchases of fall debris-handling equipment and snow-removal equipment.
These are just a few suggestions. Check out the Business Management section of our website for more tips on finishing the year strong.