Every start-up will have a tough time with finances. Making your money back to pull your operation into the green, or to maintain a month-on-month profit can be a challenge at the start of every business.
This will ring true for business owners in any field, any sector, or any professional industry.
But there are ways that your business can save money on vital services that your business can’t do without. This saved capital can then be better spent elsewhere to speed up that process of getting too green or staying in the green.
So, here are 3 business tips for start-ups to save money.
Invest In Reusables
If you run a bar or club, then you’ll know about the common choice between investing thousands in reusables or going for one-use items that are far more cost-effective.
The truth of the matter is that reusables are cheaper, yes, but not in the long run. It may put a significant dent in your capital to invest in plastic reusables – such as cups – but it will save you a consistent expenditure every week.
Not to mention that more long-term reusables are better for the environment than one-use plastics that will get disposed of after your patrons leave.
This may increase your water bill for washing the reusables, but that moves us onto;
Comparing Water Supplier
With the water market opening up, businesses have more choices now than ever before when it comes to who they get their water from. And in the hospitality business, staying on top of your water consumption is key to saving capital.
The wrong water plan can be costly – as different plans will work for different businesses within the hospitality business. A club will need a drastically different plan from a small café.
Having an accurate water metre to measure your usage and compare it with your bills is also vital – as this can help you catch things like pipe leaks that could be costing you money. In the end, being smart about water will make sure that you only need to pay for what you use.
Switching to a company like Castle Water can provide all this to you with the transparency and expert knowledge to optimise your water usage (and keep your bills low). You should take a look at what they have to offer!
Use Smart Technology
Using smart tech can be a bit of an investment but can help you save a little bit every day by streamlining your business’s operations. We aren’t talking top of the range tech, but simple additions to offer more control over your premises.
Things like smart plugs that act as a switch for appliances can save you money – they allow you to switch off appliances remotely and stop them using power when you don’t need them.
Or things like smart radiator technology that can control how often, and at what temperature, your radiators are used. Thermostatic radiator valves are perfect for this.
Start your research and you’ll be amazed at the kind of smart tech you can use to save a little bit each day. It all adds up!
