Black Friday Is Around the Corner. Here Are 5 Tips to Make Sure Your Small Business Is Prepared

Black Friday is the biggest shopping day of the year, and with Small Business Saturday the following day, store owners have the opportunity to put a lot of money in their bank accounts. But the sudden influx of shoppers can be overwhelming for retailers who haven't taken steps to prepare. Here are five things you should do now to ensure you're setting your business up for Black Friday success.

1. Plan your promotions

This step is best done well in advance of Black Friday, but if you haven't planned the savings you're going to offer yet, now is the time to do so. You might consider offering a certain percentage off every item in the store. Or if this isn't feasible, you could look at discounting some of your most popular items.

If you've been in business for more than a year, you may have some idea already about how many customers you'll receive and how much you'll make. Use this as your guide to decide what kind of savings you can afford to offer customers.

2. Get the word out

Customers may not come to your store to shop for Black Friday deals if they don't know what you're offering. Advertising upcoming sales in your store or an email newsletter is a good place to start, but don't be afraid to think bigger.

Notify people of Black Friday deals on your social media pages. You might also consider reaching out to local newspapers or radio stations and asking them to run a brief ad about your impending sales.

3. Make sure you have enough inventory

The best Black Friday deals in the world may not be enough if you run out of merchandise within an hour of opening. If you anticipate a lot of traffic, consider stocking up on some of your most popular items ahead of time.

Otherwise, have a plan in place for what you'll do if you run out. You may be able to take orders from customers that they can pick up later if you don't have the items in house right now. Or you could have some alternative products lined up to show off.

4. Make sure your website and payment systems are running smoothly

Having your payment processing system or business website go down on Black Friday or Small Business Saturday is a nightmare. It could lead to delays and frustrated customers who may decide to go elsewhere. So it's important to make sure that both are functioning smoothly.

If there are hiccups or you worry about the site or payment system's ability to process the high traffic expected, it's best to reach out to your web host or payment processor with your questions now. Make sure you have their contact information close at hand if a problem comes up on the holiday.

5. Prepare your staff

Millions of people go shopping on Black Friday each year, and though it's unlikely you'll see anything close to that number in your own store, you might do a lot more business than normal. It's important to make sure your staff is ready. Everyone should know what their job is and where important materials are. They should also be prepared to answer common shoppers' questions.

You may also wish to schedule extra employees to work that day if you're worried about them getting burnt out or overwhelmed by the number of customers. Check with your employees now to determine their availability for Black Friday.

Even though it can be great for small business owners, Black Friday can also be stressful. Take the steps above now and then reflect on whether there's anything else you need to do to set yourself up for success. If there is, act now so you aren't scrambling while shoppers are lining up outside your doors.