Insider’s Tip of the Week: Phil Champion

0625champion.gifEach week, we feature tips from industry insiders. Have a tip to share with our readers? Let us know.

This week’s tip comes to us from Phil Champion, President of Champion Studios:

How to Maximize Your Holiday Budget: During the financial crisis and recession that hit us all in 2008 and 2009, our industry has taken some pretty big hits. Overall business is much lower than previous years in terms of daily visitors and amount of money being spent per shopper in almost all markets. Many of us have struggled with the uncertainty of the future of our companies and our jobs. The first things to go during hard times are the budgets that everyone has worked so hard to prepare. When revenues are down, we have all had to look for ways to restructure the expenses involved with daily operations. As we enter the summer months, we all know that the Holiday season is just around the corner and it is time to plan every aspect of the largest income generating period of the year. Everyone is tired of recession discussions and ready to move on. The biggest concern for the holiday season is how to make an impact with a décor package that was due to be retired in 2008 and 2009. Below are some tips on how to stretch that already stretched budget while adding elements that will make the atmosphere of the center portray and image that all is well at your center or property.

1. Make a décor wish list: List all the possibilities that will make the set look new and fresh.
2. Determine your actual budget: Supply both the wish list and the true budget to the décor company.
3. Watch your labor costs: Add new décor elements that are economical to install and store.
4. Make trade-offs to juggle your expenses: While you may want to add all LED lighting to your set or new purchase, you may want to continue to use traditional lighting.
5. Freight and delivery charges: Don’t forget to allow for freight and handling charges.
6 .Phase it in: Can’t do all you need to do this year? Add elements that can be used in your next new décor package.
7. Make a statement: Add exterior décor elements that will start the holiday spirit outside your center.

Want to know more? Call Phil at 704-434-4820, or email him. Visit Champion Studios online.

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