Impact Love Small Business

The Impact of Love on Small Business

  • February 12th, 2015
  • Erik Larson

Check out how love affects small business in a big way.

Here at Lendio, we love small business. So, seeing as it’s Valentine’s Day this weekend, we decided to create a little Valentine’s Day card ourselves, and show the impact that Valentine’s Day has on small business.

Valentines Impact On Small Business

 

The Impact of Love on Small Biz as seen on Inc.com.
Making the small business love connection
Even if you’re not a florist, restaurant owner, jeweler, or a candy maker, Valentine’s Day can have a huge impact on your business. We’ve talked to small business owners, and found the best advice for getting ready for Valentine’s Day.”We start preparing in early January by getting our Valentine’s-specific product out on shelves so people who come in for other things will know what specialty items we have and will be more likely to think of us when deciding on a gift.”
V Chocolates
vchocolates.com
CHOCOLATE  vs. NON-CHOCOLATE CANDY
# of U.S. Makers: 1379 (75.6%)
445 (24.4%)

PEOPLE EMPLOYED
37,989
20,419

ANNUAL NATIONAL SHIPMENTS VALUE
$13,500,000,000
$8,400,000,000

The week of Valentine’s Day we see about a 750% increase in revenue. The best advice I have for other florists is just lots of planning ahead. Think up some fun and creative ways to help your customers out. Make them feel special and like they’re not just a number.”
Foxglove Flowers & Gifts
foxgloveutah.com

U.S. Florists and Their Employees

(shops) 14,344

(employees) 62,397

Import Value of Cut Roses

$407.8 Million

One way we prepare for Valentine’s Day is having items in all price ranges. Affordable pieces may be used for an add-on to a bigger gift, or an expensive piece of jewelry may be a gift on its own. Either way, we want to be able to help the customer out.”
Jewelry Impressions
etsy.com/shop/JewelryImpressions

Estimated Jewelry Stores in the U.S.
23,413

Average Spent on Valentine’s Gifts
$134

Valentine’s Day is generally a very  busy and successful night because it’s celebratory. Create a special testing menu with items complimenting the occasion like oysters, caviar and lobster to make the most out of the day. Make sure service is good and be prepared for more curve balls than normal.”
Handle
handleparkcity.com

Valentine’s Day Dining
51% Plan to dine out on Valentine’s Day
36% Plan to dine out on the weekend
8% Plan to dine out more than once
Average Dinner Bill
$85 Regularly
$139 Valentine’s Day
Valentine’s Day Means Big Business For Small Business
Sources:
1  U.S. Census Bureau, County Business Patterns: 2012, NAICS codes (31135) & (31134) http://1.usa.gov/1yfhRBI   http://1.usa.gov/1CI9hQU
2  U.S. Census Bureau, 2011 Annual Survey of Manufactures, Products and Service Codes (311320 and 311330)  http://1.usa.gov/1DnRGwc
3  U.S. Census Bureau, County Business Patterns, NAICS code (4531)  http://1.usa.gov/18CqgJp
4  U.S. Census Bureau: Foreign Trade Division USA Trade Online U.S. Import and Export Merchandise tradehttp://1.usa.gov/1F6tQ9a
5  U.S. Census Bureau, County Business Patterns, NAICS code (448310)  http://1.usa.gov/1znADth
6  “Valentine’s Day” Hallmark Corporate Newsroom  http://bit.ly/1AsVCOs
7  “OpenTable Survey Reveals Valentine’s Day Dining Trends” Open Table Blog. Web. 03 Feb. 2015.http://bit.ly/1yCzueL

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About the Author

  • Erik Larson

Erik Larson frequently writes for Lendio about SEO, Digital Marketing, Social Media Marketing, Business Loans, and whatever else strikes his fancy. He can be found on and Twitter.

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