If your business is doing well, but you suspect that you are losing out on business after hours, you may be ready to invest in extending your business hours. It can be intimidating to add the overhead expenses to extending hours, but the payoff can be significant.
Some businesses find that they do most of their business in the hours after other businesses are closed. Here are some tips to help you extend your business hours effectively:
Make it Clear That You’re Open
Keeping your business open later or opening it earlier won’t do you much good if potential customers are walking or driving right past without realizing that you’re open. A simple open sign may not be enough to cut it when the light fades.
Invest in illuminated signs that make it perfectly clear that your business is open and catch the attention of passersby. Quality illuminated signs can be big, bold, attention-getting, and do a great job of communicating your company name and brand.
Advertise Your New Hours
Extended hours are an advantage that you have over your competition. Make sure that you are letting potential customers know about this advantage every chance that you get.
Advertise your extended hours in a banner across your website, make your hours clearly visible in print advertising, and update your social media pages to reflect longer hours. If you know that your hours are longer than your competition, don’t be afraid to say so in your advertising.
Consider Putting Employees on a Salary or Giving Them a Share in Your Business
One of the most significant aspects of overhead when you extend your business hours is paying employees. You may not notice too much of a price increase in keeping the lights on longer or other overhead, but paying employees for more hours or even taking on a new employee to cover the additional hours can get expensive.
This is a good time to talk to some of your more dedicated employees about being flexible with their hours in exchange for a salary or stock in your company.
Extend Your Business Hours Successfully
Extending business hours can be a huge advantage for your company, but it’s important that you make it very clear to your customer base that your business is open longer. Clear illuminated signage, plenty of advertising, and incentivizing your employees to work longer hours without having to pay significantly more immediately can all make it much more likely that your business will be successful in its new hours.