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May is here and it's time to PARTY!
What?? You don't think "party" when you think about May?
School is wrapping up, and that's nice for some of us. The temperature is heating up, and that's nice for most of us. But those aren't the reasons that I will be partying in May.
Below, I've listed three distinct opportunities to throw parties that could increase revenues THIS MONTH! |
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Cinco De Mayo
 Mistakenly thought by many to be a purely Mexican holiday, Cinco de Mayo actually commemorates a day when a battle was won by Mexico, over the French, that eventually led to the United States becoming a world superpower. Traditionally celebrated, Cinco de Mayo is a day marked by the embrace of Latino culture, and remembrance of the bond that we have had with our southern neighbors since the 1860's.
Today, through savvy marketing and advertising, Cinco de Mayo has been turned into one big party day. A dream for every service oriented business, including bowling centers! Take advantage of it by offering traditional Mexican fare, specials on Mexican beer...the possibilities are endless!
The people in your community will be spending their money somewhere on Cinco de Mayo. Let them know that you guys are going to be partying like it's 1862!
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Mother's Day
Sunday, May 13
 News Flash: Mother's Day is the busiest day of the year for the service industry!
All right, this one is a no-brainer. Every family in America is going to be spending money somewhere on Mother's Day. Find a way to make them spend it with you. Enough said.
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Memorial Day
Monday, May 28
Traditionally celebrated, Memorial Day is a somber day of remembrance for those who gave their lives protecting the freedom and values of our great nation. More recently, Memorial Day has become a celebration, marked by parades and events honoring those same people.
Find out what is going on in your community during Memorial Day. If there is a parade, what is the route? It might go right by your center. Is there a way for you to get involved? Maybe sponsor a float, or offer your bowling center as a place for people to congregate afterward. Get in touch with local veterans groups and let them know what your center is planning to do for Memorial Day. You can even offer veterans a discount or free games. After all, they were willing to sacrifice just as much as those we salute on Memorial Day.
On top of all of the festivities that Memorial Day brings, it also marks the unofficial beginning of Summer vacation. However, with the economic slow down, and gas prices where they are, many families will opt to stay close to home. Your bowling center can be an attractive entertainment option for those families.
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Buy-Sell Agreements?
All partnerships start out with either two or more parties deciding that they want to get together to either buy or start a business. Each of the different partners brings something different to the partnership. For example, in a three person partnership, one of the partners may bring the money or the ability to get the money with their good credit or banking connections, while another partner may have the skills needed to run the business. The third partner may be the one who is going to run the business on a daily basis. Hence, we now have a three person partnership. Each individual is contributing something different to the partnership and, with the three of them together, they have a viable business.
But what happens if one of the partners dies, gets sick, or wants to get out of the partnership? What if one of them gets a divorce and needs to cash out? What if a partner is not contributing their fair and equal share to the business yet is still entitled to one-third of the profits? Or what if the business fails? How would the financial losses be addressed?
This is why you need a buy-sell agreement. It is used to address all of the issues that I have just mentioned and then some. Let's say a married partner, who was running the business' daily operations, dies, and a spouse inherits the interest in the business. The spouse, however, doesn't know anything about the business and cannot successfully run it. What would you do? If you had a buy-sell agreement it would allow for this issue to be addressed without any hard feelings between the parties.
Too many times when a partnership is started all of the parties are having a love fest and they are not thinking about what could happen. They are only excited about the start-up or acquisition of the business, and they fail to address the buy-sell part of the agreement.
Please don't think that I'm being a pessimist, quite the contrary. What I am is a realist, and I've discovered over the years that things happen...people change...businesses change, and you are much better off if you prepare for unseen circumstances that will eventually arise.
When operating a business there are many different items that need to be addressed, and while a buy-sell agreement is only a small part of business operations, it can be a major link when something goes haywire. You may think that you will never need such an agreement because you are going into business with your best friend or your relatives, but it will only be a matter of time before you wish you had one; and bringing up the idea after things have gone haywire is much harder than if you had put one in place when there were no issues to address.
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About This Newsletter
You are receiving this newsletter, because the relationship that we have with you is an important part of our business. We are not successful unless you are successful. We know that the key to a successful relationship is communication. Understanding that there can never be too much communication in a relationship, we intend to use this newsletter as an additional line between you and us.
The information provided in this newsletter is intended to help you to maintain and grow your business, help you to stay up to date with current trends in your industry, as well as provide effective marketing tips to help you reach your customers.
We want a successful relationship with you! This is one more service that we wanted to provide to make it the best that it can be.
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People...and the relationships that they form, are our strength. Our reputation has been built on a solid foundation of people dedicated to providing the highest degree of service.
You will be meeting the staff in the next few months. Be sure to tune in!
Please forward this to anyone you know who might find the information helpful. |
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Disclaimer
Material contained within the this Newsletter is intended for general informational purposes only and is not intended as professional counsel or advice, and is not to be used as such. The contents of this Newsletter may not be comprehensive or up-to-date and we make no representation as to the accuracy, completeness, timeliness, merchantability or fitness for a specific purpose of the information provided in this newsletter. Brown & Brown of South Carolina, Inc. d/b/a Bowling Center Insurance assumes no liability whatsoever for any action taken in reliance on the information contained in this Newsletter, or for direct or indirect damages resulting from use of this Newsletter or its content. Any unauthorized use of material contained herein is at the user's own risk. Some of the links made available to you through this Newsletter will take you to websites not under the purview of or affiliated with Bowling Center Insurance and Bowling Center Insurance does not control or endorse such websites or their content. These links are being provided to you only as a convenience, and your access to these websites is done at your own risk and we disclaim any liability for the accuracy of content, validity of systems, effectiveness of tools or technologies, or adherence to privacy, security, accessibility, or other policies of such websites. |
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