In years past, we have seen the cost of everyday goods and services rising. Gas rates fluctuate, public transportation is more expensive and the price of food is higher than ever before. It’s never been so hard to save money, especially if you’re a business owner. However, it’s not impossible. With a little bit of foresight and planning, you can keep your costs low and still bring in plenty of customers. Here are a few tips on how:
Cut down on waste
The price of milk, beef, fruits and vegetables is expected to rise within the next few years, and as a business owner, you should understand how that affects your company. Keep costs low without cutting any corners starts with the type of equipment you use in your establishment. Low-quality machinery, especially in the food industry, can cost you hundreds – if not thousands – of dollars every year in mishandled or wasted items.
One way to ensure you and your employees won’t excessively produce waste is by using devices from Rosseto Serving Solutions’ line of snack, topping or beverage dispensers. These are specifically designed to reduce the number of messy cleanups with patented serving mechanism that provides a precise amount of product with just a few turns of a knob. Rosseto’s dispensers also use high-end, commercial-grade acrylic containers that keep your food fresh and tasting great.
Share advertising costs
Many business owners don’t have a marketing and sales budget, but there will come a time when you will want to expand your reach and target customers beyond word of mouth. This calls for certain types of advertising. Many people use social media these days, but print ads in specific locations can still rake in clients. Talk to your business neighbors and find out if they would like to split the cost of promotional material and advertisements. You can share a sidewalk bench or promote your products or services in the same newsletter.
Offer your knowledge
If you are like many small business owners in America, your company is an extension of your passion and something that you understand very well. Use your expert knowledge to your advantage and offer your advice at training seminars, committees and community panels. If you have a talent for writing, consider submitting articles for a local paper or magazine. You establish yourself as an expert in your field and earn low-risk exposure for your company.
Ask for a discount
Whenever you are researching products from various vendors, try to find valuable discounts. Some suppliers offer up to 50 percent off regular sales prices on bulk purchases and select products. Whoever you decide to do business with, inquire about discounts, interest-free loans or vendor credit for paying upfront with cash.
