Most small businesses operate on a tight budget. When operations are small, the margins of error are much larger. Unnecessary costs, however small, can quickly add up and cut in to the company’s available funds. Money management is a huge make or break consideration for many companies, particularly startups. Cost considerations rarely trickle down to the everyday purchases that could be bleeding the organization of money.
Misusing a budget is an all too common oversight that leads to throwing away money. While these cost-cutting strategies are applicable to organizations of any size, they’ll have the greatest influence on a small business operating with limited funds.
Energy conservation and going paperless are two viable strategies, but if you want to cut costs on operational expenses, consider buying more products in bulk. Here are some great options to help you save money in the long run.
Trash bags are an inevitable expense. Keeping them stocked can add up quickly, especially if you have a janitorial service that dumps your trash every day. Most organizations are bound to go through large amounts of trash bags over time. By buying in bulk, you reduce the number of transactions and visits made to the store, which will provide time savings as well as financial gains.
Toilet paper and other paper products
Maybe you can go paperless when it comes to memos and expense reports, but some paper products aren’t as easy to eliminate. Toilet paper, facial tissues and paper towels are all integral parts of a sanitary office, and they do have an impact on the company’s expenses. These paper products are not always cheap, but you can lower their cost considerably by purchasing them in bulk. And when you do run out of a roll of toilet paper, you don’t have to place an order before you reload — simply run to the storage closet and replenish your bathroom’s supply.
Pens, pencils and other desk supplies
Even for small businesses, it makes sense to purchase common office supplies in bulk. Having products readily available in a supply closet minimizes the downtime suffered by employees left searching for the tools they need. Make a list of all the common items your employees use on a daily basis. Make bulk purchases and wipe out potential supplies-related headaches.
When printer ink runs out, it can bring operations to a halt. When purchased as individual cartridges, ink is no small expense. You can drastically reduce your printer ink expenses and improve your company’s uptime by buying ink cartridges in bulk.
While buying in bulk offers great long-term savings, it does deliver an up-front cost that may discourage some buyers from making the transition. While the large price tag of a bulk purchase can be intimidating, don’t let it keep you from making a final decision. While you’re paying more up-front, the future savings more than make up for these costs and will reduce your operating expenses.