Selling Fake Products Isn’t A Good Way To Keep Business Expenses Down

29 Restaurants in NJ was accused of selling fake booze

 

There are many ways to skin a cat, but selling fake products is not the way to cut your company expenses. Just yesterday state officials announced there were twenty-nine restaurants located in NJ accused of selling fake booze. Some of the locations were refilling the premium bottle spirits with either cheaper branded booze, rubbing alcohol, water, and caramel coloring. If you’re looking to keep your business expenses down, this is definitely not the solution! We had a previous post about how to keep your monthly operating costs low.

Three ways to keep your small business overhead low:

 1.    Does your business use a fax machine? Are you still stuck in the 90’s? Even in the late 90’s the technology for digital faxing was in existence. However, there were still bugs and issues with the service. But today, there are a bunch of companies offering the service and the technology is has greatly improved. For those who have not heard of a digital fax also known as online fax service; it’s a way you can receive and send facsimiles with your computer or smartphone without having to have an actual fax machine. How does this save you business money? The fees can be as low as $5 dollars a month! There’s no need to buy a fax machine, there’s no need to replace ink or toner in your fax machine, and there’s no costly maintenance for those fax machines, and there’s no need for a landline line. Try adding that up and see how much you would save; I’m pretty sure you would consider converting over!

2.    Who’s in charge of buying your supplies and materials? I hope you the you the business owner is in charge. Whether your business is a restaurant, gas station, and general contractor or even if you’re in an office setting there are ways you can save when it comes to buying supplies for the business. Growing up in a household where my mother always was trying to save money for our family, I’ve learned many ways to keep the dollars in my wallet. There’s nothing wrong with clipping coupons, if you are buying office supplies most of the big box stores offer coupons. You can even go online and search for discount codes or coupon codes if you’re looking to place an online order. Premium brand named products are obviously more expensive than buying the generic brand. Most items will have a generic brand you can pick from, not too often will you be able to tell the difference in the quality, and sometimes the quality is even better than the name brand items. But if you own a bar, I don’t suggest you buy lower quality liquor brands and try selling it like it’s the top shelf brands. That’ll just get you the wrong kind of publicity and you’ll end up on the 6 O’clock news.

3.    Are you getting the most out of your employees? Another great way to cut back on expenses is having a fine tuned machine with multi-talented staff. Try employing people who can handle more than one job, if you have a business where the staff can handle more than one job this will have a huge impact on your bottom line. For example, if you owned a restaurant couldn’t your servers also bus the tables? Maybe they can’t bus all the tables, but if they all chipped in that would maybe give you the ability to have one less person on the payroll.

Normally we try to give out tips on working capital loans, but I thought today would be a great way to show some other ways of how you can save on your monthly expenses. Hopefully something in todays post was helpful, have a great weekend!



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