Pros and Cons of Staying Open on the Fourth of July | Fora Financial Blog
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Pros and Cons of Remaining Open on Fourth of July
June 15, 2018
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Pros and Cons of Remaining Open on Fourth of July

For many people, Fourth of July is a holiday spent outdoors enjoying the summer weather, barbecuing, or celebrating with friends and family. For business owners, it can be a chance to increase your sales, but it can also present challenges.

According to a survey by the Society of Human Resource Management, 93 percent of businesses will close on Fourth of July. When deciding if your business should remain open on Fourth of July, you must determine what is best for your company, and ensure that you’re considering the needs of both your customers and employees.

In this post, we’ll list the pros and cons of keeping your business open on Fourth of July.

Pros

Potential to Make More Sales

Remaining open when other businesses are closed is a great way to make additional sales, especially if you’re in the retail or grocery industry. For example, consider the last-minute party-goers who need to pick up hamburger patties or drinks on the way to an event, and are looking for an open store. Also, if you sell anything related to the holiday, such as fireworks, sparklers and party supplies, etc., you could make additional sales from impulse purchases as people drive by your store. According to CNBC, in 2017 Americans spent $7,000,000,000 on cookout-related items, including hamburgers, chicken, beer, and fireworks. Due to this, staying open on the Fourth of July could be a lucrative move!

Customers Will Appreciate It

People like consistency, and if your business is open, your regular customers will be appreciative that they don’t need to find an alternative. Also, some people are very busy and might use this day to get some shopping or repairs done, when they normally wouldn’t have time to do it.

You Might Gain New Customers

If someone is desperately looking for a service on Fourth of July and your business is the only one open, that person might hire you or visit your shop. If you do a good job, they might become a loyal customer.

Cons

Employees Won’t Want to Work on a Holiday

Independence Day is one of 10 federally-recognized holidays, and many people feel like they should have the day off. If it’s necessary to keep your business open on Fourth of July, explain to your employees the reasoning. You could let them know that you appreciate them working on a holiday by paying them time and a half, provide a holiday gift or bonus, or give them an extra vacation day that they can use in the future. Employee loyalty is extremely important, and you should ensure that your staff knows that you value their time and try to promote a work/life balance. Also, before deciding if your business will remain open, try to confirm that you’ll have customers that day and that employees have enough to keep them busy, so that you don’t waste their time.

Might Not Be a Need for Your Products or Services That Day

Depending on your industry, people might not need your services, or they can schedule them for another day. Many customers will be relaxing with their families or on vacation, and they won’t be thinking about meeting with their financial advisors, getting their teeth cleaned, or having their dogs groomed, just to have a few examples of potential services that you might offer If this is the case, take the day off and enjoy the holiday!

It Could Create a Precedent for Remaining Open on Other Holidays

If customers recognize that you’re open on Fourth of July, they could expect you to be open on other holidays. Be sure to put a sign on your door and list hours on your website to clearly communicate to your customers exactly when you’ll be open and closed.

In Conclusion: Do What’s Right for Your Business

Every business is different, so it’s important to evaluate what’s right for your company specifically. Even if your competitor is open, it doesn’t necessarily mean you need to remain open on a holiday. In addition, you could open your business for part of the holiday, so that you can make some sales while still giving you and your employees such much-deserved time off.

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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Fora Financial is a working capital provider to small business owners nationwide. In addition, the Fora Financial team provides educational information to the small business community through their blog, which covers topics such as business financing, marketing, technology, and much more. If you’d like to see a topic covered on the Fora Financial blog, or want to submit a guest post, please email us at marketing@forafinancial.com.
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