With travel restrictions, quarantining and some countries still going through peaks of the COVID-19 pandemic, many Brits may opt for a UK staycation this year. This is a big opportunity for the Leisure, Hospitality and Tourist industry as people will be looking for family day outs and couple getaways.
Visit Britain’s annual forecast is predicting 11.3 million inbound visits which are 10% up from last year. They are also predicting £6.2 billion to be spent by inbound tourists this year; 1% increase from last year and 22% increase from 2019. We spoke with sister company Amplo Commercial Finance who came up with some top tips to get your business ready!
Hold Event Days
You may be thinking about holding an event to attract people from near and far to your business, it may be a mini festival, wine tasting days, or a children’s fun day. This is a great way to make your business the talk of the town and take advantage of the incoming tourists.
Businesses are starting to diversify their businesses to attract more visitors; or to attract visitors to spend more with them. If your business has space, one idea is adding a spa area and offering spa treatments to visitors – this may encourage people to have a meal with yourself and even book an overnight stay.
You can also change some interior space inside for those rainy days. For example, adding in some laptops and tablets for children to play with whilst the parents enjoy a meal. Or adding a cinema room which adults and children can enjoy.
Renovations & Expansion
With the school summer holidays coming up and hopefully warmer weather, July and August are expected to be the busiest months. If you’re looking to renovate your guest rooms, restaurant area or would like to give your space a little freshen up, this may be the time to do it.
You can do a quick freshen-up by giving your rooms or communal spaces new pieces of furniture and a coat of new paint. Alternatively, you can go all out and expand your space to accommodate more diners and even overnight guests.
Boost your cashflow
With many businesses being shut due to lockdown restrictions, your cash flow might be a bit limited at the moment. If you’re waiting for invoices to be paid, invoice finance may be your answer to your cash flow situation.
Invoice finance is when you receive finance against your outstanding customer invoices and instead of waiting up to 120 days for your payments, a finance provider will provide you with the funds.