Politics and Business
Determining The Best Operational Hours For Your Brand
There are many decisions to make when you first launch a brand, and many of them are quite basic. For instance, what should the name of your company be? This can be a tough ask as choosing something which is memorable, hasn’t been taken before, and relates to your product or service may take some time to come up with, even if the primary question was a simple one.
The same goes for other questions too – for instance, what exactly should our operational hours be? For some, this can be obvious, in an office setting then a 9-5 usually works for your staff. But what about coverage of off hours, like when fulfilling orders that come from markets you’re expanding into? What if you offer a remote service and can put your staff on rotating patterns? What if, like many businesses, you think operating 24/7 could be worthwhile, or at least seven days a week?
In this post, we’ll discuss how to make those value judgments more easily.
The first step in determining your operational hours is to understand your customers. Take a look at your target audience and figure out when they are most likely to need your products or services. This can be as simple as conducting a survey or gathering data from past sales.
For example, if you run a coffee shop, you might find that your customers are busiest in the mornings before work and in the afternoons during breaks. By opening earlier and closing later during these high-demand times, you can ensure that you are providing the best service to your audience. On top of this, consider the right times to open based on operational law.
Depending on where you are, you may only be able to open your event space until a certain time in the morning on weekdays. If you operate at night, this can also help you make additional decisions, like should you hire a security guard, and might they need to be equipped with night watchman gear and a bulletproof vest? As you can see, decisions like this can develop comfortably over time.
Your employees are the backbone of your business, and their schedules play a big role in determining your operational hours. Consider the availability of your current staff, as well as any new hires you may need to make.
Do you have employees who can work early mornings, late nights, or weekends? By taking your employees into consideration, you can ensure that you have the coverage you need during your busiest times – but remember that remote working is a thing, as is outsourcing. Both could help you open up your deadline times.
Finally, it’s important to take a look at the financial side of your business when determining your operational hours. Opening longer hours may mean that you need more employees or resources, which can impact your bottom line.
Consider factors like energy costs, employee wages, and other expenses when making your decision. By keeping these costs in mind, you can make sure that you are operating at a profit, even during your busiest times, or you can determine where to open, like on national holidays, as paying your staff more may be worth it.
With this advice, you’re sure to determine the best operational hours for your brand.
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