The busy season is, well, busy. So why are you working extra hard during the same season year over year without rewarding yourself?
If you’re putting in long days and running your business at capacity for weeks at a time during summer, Thanksgiving or Christmas then you should consider adding a seasonal premium to give you some extra cash for all that hard work.
ProPet allows you to adjust the price of your services based on a number of different factors, and time of year is one of them. If you’re not already using seasonal premiums and you’re currently accepting advanced bookings for the holidays you may be missing out on some serious profits.
What Are Premiums?
ProPet’s premiums allow you to create a set of factors that will increase the cost of a service. Most commonly, premiums are used to set things like late fees but the real value in premiums is visible when they earn you top dollar for your basic everyday services during your busiest times of the year.
When a seasonal premium is setup on your account it will automatically apply a new, adjusted, rate to any designated service a customer books between a set time frame.
For example, if you’re always busy during Christmas you can create a premium of 15% for all selected boarding rates booked between December 1st and January 2nd. That way you will earn an additional 15% on all your boarding stays during one of your busiest seasons.
How Do They Help My Business?
Seasonal premiums help your business by creating an additional revenue stream that requires no additional investment from you. Theres no time spent training new staff or developing a new service, you simply set the premium and collect your additional revenue as booking requests come streaming in.
In a regular year, seasonal premiums are a great way to maximize your earning potential. But now, after a long year of regulations and lockdowns, seasonal premiums can be an excellent way to give your business a boost and help you recuperate some of the losses sustained during the long 2020 shutdowns.
Seasonal premiums are a great way to increase the earning potential of your business without requiring you to make a significant investment like hiring more staff or building an addition onto your business to house more kennels. You’re simply cashing in on work already being done, and who doesn’t want to do that?
When Should I Use Them?
You should use seasonal premiums during your busiest times of the year, but it’s best to create them well before you’re expecting bookings to be requested. If your busiest time of the year is Christmas it’s a really good idea to create your seasonal premiums before Labour Day weekend, that way if you receive any advanced booking requests for Christmas you’ll be ready to accept them without needing to modify the price later on.
Every business is different, so your busiest time of the year might not be the same as someone else’s. But it’s important to understand that if there’s a time of the year where you routinely have so many bookings that you are operating at the very limit of what your facility can handle, that’s probably a good indication of when you should be setting your seasonal premium time frame.
Seasonal premiums work best during the times of the year when you have so many customers that you find yourself turning business away. By adding an additional 15% or 20% to all of your bookings during that time of the year you’re re-balancing your revenue and accounting for the opportunity cost of having to turn customers away.