For some people, Christmas season is a time to make extra money. Today, with all the expenses and gifts and food you have to buy for Christmas, your 13th month pay won’t even be enough.
A lot of people’s solution to this is to start their businesses. This is one way of ensuring that there will be a lot of demand because the people will be looking for gifts to give to their family.
However, aside from the demand which you’ll get during the holidays, there are a lot more factors that you have to think about. Here are the pros and cons of starting a business during the holidays.
1. You can make sure that you’ll have buyers. If you target people who are doing holiday shopping and holiday services, then you’re off to a great start.
2. The holidays is a good way to start because you can jumpstart your promotions. People who are looking for things to buy are more likely to join contests and promotions.
3. You can take advantage of the other stores’ holiday sale, you can buy all the equipment that you will need for your business while the stores are having their sale.
4. Because the year is almost over, you can also reap tax advantages by starting your business and registering it before the tax cycle next year.
1. You may be stressed because of all the gatherings and expenses and preparations you have to do with your family.
2. You may not be able to fully plan and develop your business plan because you are targeting to be opened before the holidays.
3. You have to make sure that you’ll be covered even before the holiday rush is done. You have to devise a marketing plan for the low months to make your business survive.
4. Your family might not be supportive of your plan if it means you will see them less.