Saturday 23rd Nov 2019
In this case study series, we will be taking a look at SMEs around the UK from different industries that all have one thing in common - seasonality in their businesses. We will be looking at the challenges that they face and the methods that are used to overcome being a seasonal business.
About Sensation Band Entertainment Agency:
Sensation Band Entertainment Agency provides a range of world-class music services for private ceremonies and events. Combining some of the UK’s top musical talent with cutting edge technology and sound equipment, Sensation Band offers a unique and unforgettable experience. Learn more about Sensation Band here: https://sensationband.co.uk/
How Sensation Band is affected by seasonality:
With a lot of their business coming from the wedding industry, Sensation Band are no strangers to the challenges of being a seasonal business. Similarly, Sensation Band are very busy at Christmas time for corporate business parties and Christmas events. This means that at the beginning of the year and for most of the Autumn months they are likely to have a lower cash flow than they are used to. To maintain growth during these periods of fluctuation, Sensation Band have branched out and diversified their business offering to areas such as sound and light hire. This has allowed them to adapt to the months when they are not as busy.
How Hitachi can help seasonal businesses:
Our Smart Funding flexible payment plan can help businesses take control of their finances by allowing them to create a bespoke repayment schedule that reflects their cash flow and the seasonality of their business.
With over 35 years of experience in supporting SMEs across the UK, we have the experience and knowledge of how to best help businesses that go through seasonal peaks and troughs throughout the financial year. Enable a flexible payment plan and use the new flexible payment calculator to customise your plan.
The new flexible payment plan is available to Sole Traders, Private (Ltd) companies, Partnerships, Limited Liability Partnerships, Unincorporated entities, Public (PLC) companies and small businesses that have been trading for three or more years.
Some of the key benefits of using Smart Funding include:
- Creating your own repayment schedule
- Access business funding up to £500,000
- Award winning financial support
- Apply online in minutes and get an instant decision
Learn more about Smart Funding on the Hitachi Capital website: https://www.hitachicapital.co.uk/business-finance/smart-funding/
Full Interview: Sensation Band
Question: In a nutshell - what does your company do?
A: We provide a range of services to our clients. If it’s a wedding it might be entertainment for a ceremony or reception. Our forte is party music, so putting on big, incredible bands to bring the party.
Question: Who are your typical customers?
A: Most of the time, the people that we work with have lavish parties, whether it’s a wedding, birthday party or corporations. Ultimately, they are the people that want to put the best parties on.
Question: Why did you start your business?
A: We thought that it would be pretty unique to put the best known and most successful artists together in this collaboration and be able to provide high end music that’s never been done before in private events.
Question: What is one of the biggest challenges you face as a business?
A: I don’t want anything but the best on the stage. I really want it to be something that inspires me, people that inspire me when they play and when they sing and finding the best people is always a challenge.
Question: What are some of the difficulties of being a seasonal business?
A: At certain times of the year, it’s very difficult to get hold of lots of people for very busy periods of time.
A2: A large part of what we do is weddings and weddings tend to start in May and then continue through the summer. As it gets through to Autumn we start getting busy with Christmas parties. As we have developed and found that seasonality can cause issues we have diversified and branched out into other things. Having sound and light hire, as well as providing DJ’s means that we are less tied to the wedding business which was our bread and butter when we first started out. That gives us more work at different times of the year.
Question: Is your business seasonal?
A: It’s definitely seasonal, but there’s plenty of variety and plenty of different things to do throughout the year. There’s never a dull moment that’s for sure.