How to make the most of Black Friday deals for your business
It’s that time of year when customers start to expect sales! The Black Friday deals for the business sale period are just around the corner.
Although the concept originated in America, Black Friday sales are one of the busiest shopping periods of the year in Australia. Many businesses will offer generous sale prices across their range and start extending their trading hours. Not only is it great to capture new customers, but you could also get some good discounts on stock and equipment for your business.
Have you ever wondered if there is an ideal time to invest in your business equipment? Well if you have, then it’s a great time to grab a discount during the Black Friday deals for business. A small business might want to upgrade their computers, update their office furniture, purchase new software, or invest in extra stock. There are also great bundles and extra savings to be made across everything you might need for your business.
Whatever the purchase is that you would like to make, jumping into the Black Friday deals for business could be a perfect time to save significant cash. If your normal business cash flow was affected by the lockdowns, you could look into applying for a business loan. Lumi is also offering a COVID Kickstarter loan to help small businesses get back on their feet after the lockdowns. If approved you could have access to the money within 24 hours, enabling you to grab those Black Friday deals for your business. So with that in mind how can you get ready for Black Friday?
How to prepare for Black Friday sales
Decide what you need
When it comes to Black Friday deals for business it can be easy to fall into the trap of impulse buying and accumulating items that may be at a good price but are just not needed. That is why it is important to assess your current business inventory and stock to determine what you actually need now or what you could stock up on for the near future. This could be buying computers and office equipment or a builder buying tools that need replacing. A real estate agent may want to upgrade the desks, computers, office chairs, and phones that their team uses. By taking advantage of the Black Friday deals for business this agency could save by bundling their purchases and getting a major discount.
Research Black Friday pricing and deals
While it may be tempting and even time-efficient to make all of your purchases in one place, it is a better idea to shop around and compare prices on the equipment you need. If you want to get the best deal possible for your money then this is an important step. Normally Black Friday sales run a little longer than 24 hours often until Cyber Monday, however some retailers will have a limited stock supply on items and may not run their sales for as long as everyone else. Therefore it is a good idea to research how long your preferred suppliers are running their sales.
Start your research online, no need to go into stores to find out about the latest Black Friday deals. The big online retailers such as Amazon, Ebay, Catch normally run fantastic Black Friday deals. Technology companies will offer great deals on bundles, so be sure to check out JB Hi-Fi amongst the other tech retailers. You could grab some great bargains on business laptops, tablets, and accessories for computer use. Black Friday is now so common that smaller local retailers also often participate, so make sure you check these out to support local small businesses as much as possible.
Have a plan in place
Consumers are ready to spend and businesses need to have their stock levels ready to provide customers with what they need. This year has been especially tough on small businesses, and most of us are a little tighter on money than usual. You may find that your business has not recovered enough normal cash flow to really take advantage of the Black Friday deals. But don’t despair Lumi could provide funds to help you upgrade your equipment, software or invest in discounted stock. Planning your financing ahead of time will save you missing out on any bargains to be had.
Think outside the box
When you think about Black Friday deals for business, you might only think about tangible products. Something you may not have considered is buying Self Education courses. Investing in education is the way to future-proof your knowledge. You can also invest in training for your staff making them more skilled, able to apply those new skills to their roles. By investing in self-education you can also claim this as a tax-deductible expense. There are many online course providers that offer discounted learning around Black Friday, look at sites like 42Courses, Udemy, FutureLearn just to name a few. If you are looking to invest in education and need funding to help you, Lumi has flexible finance options.
Market your own Black Friday deals for business
Make the most of the savings for your own business but don’t forget to market your own deals. Investing in a clever and creative Black Friday campaign will help attract customers to your own products and services. An idea you might not have considered is to offer exclusive access to your Black Friday sales for your VIP customers. This way you can start selling stock before the Black Friday sale period officially starts. You can find some great Black Friday marketing campaign ideas by doing a Google Search.