Top 10 Tips for Turning a Festive Season Profit

10 Tips for Turning a Festive Season Profit

Top 10 Tips for Turning a Festive Season Profit

For many, Christmas is known as The Season To Be Spending.

But with a bit of forethought, you can often turn things around and earn some extra cash over the holiday season.

For individuals and families, there are quite a few alternatives that could be considered.

  1. Renting Out Your Home

    Christmas holidays is the time when people are on the move visiting family and friends. If you are heading away over the holiday period, you might want to consider offering your house as a potential rental. Services like Airbnb can help you market and facilitate this type of short-term rental.

  2. Keen Cooks 

    If you are a dab hand in the kitchen, you may find there is a market in making some extra Christmas goodies. Many people nowadays chose to buy Christmas cakes, plum puddings, plus seasonal sweets like White Christmas and will be happy to pay for genuine home made articles.

  3. Handy Hobbies

    If you are handy at woodwork, cabinetry, metalwork, sewing or general arts and crafts, then there is a market to service people looking to source and buy traditional hand-made gifts.

  4. Angles for Anglers 

    The consumption of seafood reaches a peak over the Christmas holidays. If you are a keen and skilful angler, and able to catch an excess of prawns, crabs or fish, you may find many workmates and neighbours who are keen to source their seafood from someone they know and avoid the long pre-Christmas lines at seafood outlets.

  5. Be Fruitful

    Many people nowadays are making the most of their gardens to grow their own vegetables and fruits. If you are lucky enough to have excess of good quality home grown, mangoes, cherries, watermelons or citrus fruit, then there will be plenty of people willing to buy.

For businesses, the quiet times can provide an opportunity to inject extra cash into the coffers for the New Year.

  1. Show Me The Money

    If you have been busy completing work in the lead up to Christmas, you may have fallen behind with your invoicing. Use this time to get all your invoicing up to date – and hopefully your debtors will be filled with the spirit of Christmas – and pay on time.

  2. Follow Up Leads

    There may have been enquiries come through in the past few months that you have not had time to fully explore. Over the quiet Christmas period, you should follow up these business leads. Who knows, the people who have contacted you might be interested, but just have not had the time to assess your proposal. A timely follow up from you could put you ahead of the pack.

  3. New Year Deposits 

    You probably have a list of jobs that you know needs to be started in the New Year. You can use the time to schedule these jobs into your work calendar and take deposits from clients to secure the starting date.

  4. Sell Surplus Assets 

    If you get a chance to get out of your office and have a walk around your factory or work compound, you may be able to identify equipment or other assets that you are no longer using. Rather than keeping these lying around, you might be able to sell them and inject some extra capital into your business.

  5. Review Expenses

    As the year winds down, you may finally have time to pull out the reports sent to you by the accountants and look through your list of work expenses and identify areas where you might be able to make savings – and improve your margins.

None of the above should take away from your enjoyment of the Festive Season. In fact, if you are able to free up some extra cash, or have your early New Year work schedule better organised, it can only help make your holiday break a stress free and relaxing time.

Agilis Chartered Accountants

Agilis Chartered Accountants

Agilis Chartered Accountants provides tailored accounting services, offering clients a high level of personalised advice and support - from individual tax to business consultancy. With a commitment to driving success, we provide comprehensive accounting and advice solutions that ensure every stage of your journey is met with the utmost efficiency. From startup through expansion and growth, our services make it easier for you to achieve business objectives – ultimately leading towards greater financial stability.