By: First Union
Should Your Business Stay Open for the Fourth of July?
A recent survey found that over 90 percent of US businesses close on the Fourth of July. As a small business owner, you need to determine what is best for your company regarding whether or not to stay open on the Fourth. You need to consider both your employees and your customers. Below are a few of the pros and cons related to opening/closing on the Fourth of July.
A Few of the Pros
People do still shop on the Fourth; because people are home, they may be even more prone to go out and shop. This then leads to an increase in your sales on a day when you might have otherwise closed up shop. Especially now, given the difficult economic position that many companies are in, keeping your business open for the holiday might just be a smart move. There are those last-minute shoppers for example, who may have forgotten hamburger buns for their cookout. In 2018 it was found that Americans spent just over seven million on picnic/BBQ related items.
Your Customers Will Remember
In other words, they will be appreciative that you did stay open for the Fourth and consequently remember this the rest of the days of the year. People do like consistency, and they don't necessarily appreciate having to run around to find some sort of alternative.
Potential for New Customers
If numerous stores/shops are closed and yet yours is open—well, that makes you the viable alternative. Again, the customer will appreciate that you are open, and they may just become a returning patron as long as they're happy with what they purchase.
A Few of the Cons
Employees Won't Want to Work
It is a federal holiday after all. So many people do count on having the Fourth off. This may require some tactfulness on your part. You may have to sit your employees down and go through your rationale for keeping the business open on a holiday. That is not to say that they won't be a bit disgruntled, but if you offer to pay them time and a half this could compensate for the loss of their holiday. You might also consider a bonus and/or giving them a replacement day off instead of the Fourth of July.
Your Products Might Not Be Relevant
If your industry has no connection to any of the Fourth's festivities, then you could experience a loss by staying open. You're paying your employees and other such expenses to keep things running and yet no one is coming through the door. So be sure to carefully weigh the odds of your getting customersclients during this holiday.
It Could Create a Precedent
If customers see that you are staying open on a national holiday, this might lead them to believe you will follow suit regarding other holidays. The expectation might be there that on Christmas for example, they can just stop in as there is a good chance you'll be open. This is why listing hours/days of operation on your site and social media pages are so important.