How to Save Money When You’re Running a Business December 26, 2016 – Posted in: Blog – Tags: Business Tips
When you are a small business owner, you’re always on the lookout for ideas on how to save money and cut business costs. This is universal, whether you run a restoration contractor, a janitorial service or an accounting firm.
At Aer Industries, we work with business owners each and every day, delivering a huge selection of high-quality equipment. Our work with these business owners gives us a unique insight into their world and many different cost-saving ideas for small businesses. Here is a look at some of the best:
- Intern programs: Think about how much you enjoy your line of work. There are students out there who are interested in getting into that same line of work, and they desperately need hands-on experience, sometimes for school credit. You can make a mutually beneficial arrangement by offering an internship program. It is always a good idea to pay your interns something, offering a paid internship will give you a larger pool of applicants to choose from.
- Regular maintenance: Your equipment and vehicles are expensive to procure. Make sure you save on expensive repairs by performing regular maintenance. Yes, oil changes and regular tune-ups are an expense in their own right, but you will save money in the long run by ensuring these relatively inexpensive maintenance tasks are completed rather than waiting for a costlier emergency situation. Replacing an engine in your company vehicle will cost you a lot more than a regular oil change.
- Bundle services: You pay for phone service, cell phone service, Internet service, fax service and more. Many service providers will bundle together these services at a significant discount. Are you paying more than you should for communications? Take a look at your options and see if anyone’s running an inexpensive starter package that will help you save on month-to-month communication costs.
- Audit spending: Take a closer look at your team’s monthly expense reports. How often have you scrutinized what is being spent? Keep an eye out for opportunities to save. Even the most disciplined employees may overspend sometimes, choosing the more convenient option over the inexpensive one. You may be surprised at how much is out there in savings when you choose to issue new expense guidelines and standards to your team.
- Electronic invoices: Are you still printing and mailing invoices? If so, it is time to modernize your business processes. Say so long to expensive printing and postage fees when you go to 100 percent online invoices. You may even find that this is a more convenient approach for your customers, too.
- Switch banks: Banks are always looking to pilfer other banks’ customers. What types of deals are out there when you shop around? Even if you love your current bank, if you go to them with competitive deals from other banks in the area, they may be willing to work with you and deliver new discounts on services or better interest rates.
- Negotiate prices: What other suppliers are you working with? Just as you need to build up your own customer base, your suppliers are looking to build and maintain theirs as well. If you feel like you are paying more than you should for materials and supplies, discuss your options and ways you might lower your regular obligation.
- Buy in bulk: Take a look at your long-term needs before you next buy equipment. Are you going to need 10 units of certain equipment rather than just one? If so, consider buying in bulk ahead of time. Again, this requires a more substantial upfront payment, but it will save you money in the long run.
- Go paperless: We have already addressed online invoices. But what else are you printing on a daily basis that does not need to be printed? Some companies that try to go 100 percent paperless send an organization-wide message for employees to strongly consider whether or not they need to print something. Of course, there is no such thing as a truly 100 percent paperless company, but asking people to think before they print can help you decrease your internal consumption of paper and other printer supplies.
- Choose quality: It is always tempting to go with the lowest price when choosing a product or service, but there is something to be said for quality. When you go with the reasonably priced product or service that also offers quality, you get long-term durability, too — which ultimately leads to savings. Don’t make the mistake of going the bargain-basement route. If you have to replace a lower-priced, lower quality piece of equipment twice as often are you really saving any money? Go with quality instead.
Choose Aer Industries for Quality and Affordability
At Aer Industries, we help companies like yours each day save in business costs. We offer reasonably priced and quality equipment that delivers the long-term value you need. Are you wondering how to save money at your water damage restoration or janitorial service business? Get your equipment from Aer Industries and discover just how much you can save, especially when you buy in bulk.
Take a look at our quality, durable and affordable equipment!