The Big Chill: Surviving January With Your Small Food Based Business
I remember my first shakey year with a brick and mortar shop. It was 2009 and I had just survived my first Christmas as a retail business. (Up until that point I’d been doing distribution only via a ghost kitchen for 6 years).
One of my first mentors at CYBF had warned me to hold onto my bucks, as January would be a slow month for me financially as it usually is for most retail culinary businesses. For the majority of folks, with the New Year arrives the holiday credit card bills from overspending and regret. The knee jerk reaction is the promise to oneself to reduce, spend less, and cook and eat at home.
At least on the surface it does.
I had failed to take into consideration that since my first business was a niche market (vegan) this meant one good thing for my business- “resolutioners”. Lots of folks take the fresh start to re evaluate or change their eating habits**.
I was inundated with brand new vegans, and folks reducing their dairy or egg intake when I reopened after the New Year in 2010.
Frantically I upped the amount I had been baking (back in those days I was still a 1.5 gal operation), and practiced my pitch to the new folks coming into my business for the first time to ensure I made a perfect impression. I couldn’t believe that after all these years I’d failed to recognize that the New Year for me meant many new customers. I jokingly called it my “google rush” as folks had obviously hopped on to a search engine to see where they could get vegan pastries in Ottawa. I tried to be as transparent as possible with folks too, as vegan doesn’t necessarily mean healthy or better for you. Some of my products soared into a few hundred calories per portion, and it was important to me that I didn’t mislead anyone.
That was my lesson learned. Whether you’re a niche business or not, here are my top 5 ways to ensure the dough comes through this January.
Run a Contest*.
“Caption this” or “tell us your favourite story about a time here” are always good ones, keeps the algorithms up and continues to pump user engagement. The more eyes on your business during this slow time, the better. As most of us already know- in food it is all about the power of suggestion.
*Ensure you are well versed in the current rules for Facebook and Instagram contests, the last thing you need is your page removed or your ad account suspended for an infraction. (Fun fact- did you know like and share contests are a violation of terms and conditions?).
Offer a Special.
A simple 2 for 1, free beverage, half price sharing plates during happy hour, etc. can really assist with getting dollars in the door. This is so if folks are feeling frugal this time of year, play into that. Make it impossible for them to miss out.
Play Into It.
Are you clients looking for a lighter option or just more options in general? If appropriate for your brand, play with mocktails, keto and vegan fare as a few examples. Feeling shy about trying it out? You can always outsource from another business that specializes in that area and cross market together with you as a distributor.
Close.
“How can I make money if I’m closed?”
Trust me, you can.
If you had a prosperous holiday season and a solid cash flow there is absolutely nothing wrong for shutting down for a well earned rest the first few weeks of January. With no real overhead costs rolling through, just your fixed costs such as rent and insurance will be required, and you won’t be hemorrhaging money by being open with an empty shop. The added bonus is you’ll get real quiet time knowing the place is dark, because let’s face it- even when a business owner is on holiday, they are never 100% on holiday if the place is still up and running.
Have an Event.
VIP nights for exclusive meals or product or teaming up with other businesses are never a bad idea. Create an innovative and exciting “tonight only” event with an exclusive menu or items and people won’t be able to say no. Keep it a reasonable cost and it’s win-win.
If you’re feeling nervous about this time of year, that’s okay- it is a funny time and for everyone, not just you. Keep your head up, try some new things and see what works. If things are quite tedious, I’m now offering 15 minute courtesy calls for brand new clients. Schedule yours today here and we can explore your options or join me live on Facebook January 26 at 7pm.
Tune in next Sunday January 12 for Love My Way: Valentines Day Best Practices
Have a delicious week!
Xo Mandi