Personal Finance Oct 18, 2015 09:17 PM EDT

5 Money Making Ideas for Small Businesses to Make Halloween a Sweet Treat

By Staff Writer

Halloween is about to come. As it brings sweet treats to our little ones, it also gives away treats to small businesses- if we know what the tricks are.

In fact, Halloween is a highly profitable time for many small businesses. The total spending on Halloween this year in the US is expected to reach $6.9 billion, according to National Retail Federation, with the average person spending about $74.34.

With more that 157 million Americans who will celebrate Halloween this year, the holiday will be a pot of precious gold for small business.

These are some Halloween marketing tips and ideas to help you to take advantage of this gold opportunity and turn it into a source of sales and profits for your small business.

Adapt your product to Halloween theme

Many small businesses think that they can't make money on Halloween. This is definitely wrong. Just because you don't sell costumes, it doesn't mean that you cannot boost cash revenue on Halloween.  

You can adapt your product to Halloween theme. Add a Halloween twist to the packaging, or produce it in Halloween shapes and themes if your product has some flexibility to do so.

For example, as reported on Forbes, many local coffee houses are pulling a page out of Starbucks' playbook and introducing pumpkin-flavored treats.

Create Halloween coupons for your product

If you can't customize your product to a Halloween-related theme, then you can use this second trick shared by fundivo. Because people love coupons, you may create a mailer that is Halloween themed and offer a discount coupon for shopping during Halloween.

Run a costume contest

This is another way to get more customers on Halloween. Invite customers to post a photo on a company's Facebook page for a costume contest and tag themselves and incentivize them with prizes for best costumes. You can add them to your mailing list.

Encourage treat-or-treaters

Encourage the kids to come into your store to get some free candy.  Parents love businesses that are friendly to their kids. You do this trick and you might expose your business to potential customers that might pass you by.

Decorate you store with Halloween theme

Make over your physical and online store with Halloween decorations. Make exterior decorations to your store that will attract consumers' attention, and put Halloween theme on your business blog, Facebook and Twitter pages. Tag with searchable Halloween hash tags that can create buzz, increase customers' attention and this will lead to sales boosting.

Every small business can utilize these 5 tips and ideas on Halloween. Put these ideas in your business to boost your business' profit on Halloween this year.

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