Will the festive season be bright for business?

If you are a retailer who owns a small to mid-sized retail shop in India, you would know how important it is to keep up with the soaring demand of customers during a festive season. The next few months are packed with festivals – Rakshabandhan, Janmashtami, Eid, Navratri, Karwa Chauth, Dushera, Diwali, Bhai Dooj, Chhat Pooja, and Christmas.

Whether you are into clothing, gifting, sweets, decoration or any other business associated with festivities, you just can’t afford to miss the opportunity to boost your revenues by letting go such a wonderful opportunity. Being a democratic nation where every festival is celebrated with passion, you as a retailer have to be prepared in advance to cater to the needs of your customers.

If you miss out on this golden chance of building your customer base and your top-line, you might lose a big chunk of market share to your competitors, because the customers have so many options to fulfill their needs; if it’s not you, there are other fishes in the sea.

You may need to stock your inventory to keep up with the sudden surge in demand or update it to keep up with the new trend such as making your business GST compliant. Apart from that, buying new equipment, installing new CRM software, upgrading the new payment systems for smooth transactions are the part of keeping your business updated to cater to the customers’ changing preferences. If you are not keeping your business updated with the rapidly changing technology and trends, you will sooner or later need to shut down your retail store.

For example, businesses that were accepting or making payments (from customers or to the vendors) in cash before demonetization period recently, faced so much trouble and had to bear a huge loss for a few months. Some businesses have still not stabilized their sales cycles and still facing a brunt in regards to receiving or making payment. However, businesses that had already upgraded their payment systems by purchasing POS machines for Debit/Credit Card swipes, or installed Paytm or other mobile wallet apps were doing fine.

If you want to increase your sales and gain some valuable new customers during the upcoming festivals, do the needful, and upgrade your retail business. For achieving that, you will need a considerable amount of money to do that. Now, if you lack those much-needed funds, you might be wondering how you will arrange it.

Well, if you own a home or have any property in your name, you don’t need to worry about liquidity. Just get a loan against that property and finance your business up-gradation or expansion requirement. With interest rates of Loan Against Property (LAP) going as low as Home Loans this is the best time to go for it.

You might have other alternatives too to fund your business expenses including Personal Loans, Credit Card Receivables, your savings, or help from friends or relatives, but LAP is the best and cheapest among them. Why exhaust your hard-earned savings or avail an expensive alternative or sour your relationships for money when you can get a pocket-friendly option and repay in affordable EMIs over a comfortable repayment period.

For the best and lowest interest rate on LAP, apply with MyMoneyMantra, India’s leading financial services distributor with more than 29 years of experience and partnership with over 70+ reputed banks. With a credible and capable team who has extensive product knowledge, you can be assured of quick loan processing and disbursal.

Also Read: Understanding the Concept of an LTV