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How To

How to Save Money for Small Businesses

Member
By missforty
User-Submitted Article
(8 Ratings)

Here are 3 ways to save money in a small business.

Difficulty: Moderately Easy
Instructions

Things You'll Need:

  • Cash register
  • Boxes/Bags
  • Thank you cards
  1. Step 1

    Encourage your customers to pay with cash or checks instead of credit cards. There are not only fees associated with taking credit cards but also all the extra time that it takes to process the paperwork. Many people prefer to shop using credit cards because it is easier for them, so you have to make it just as easy or better to pay cash. Give them a reward if they pay cash such as a discount or special prize.

  2. Step 2

    Stop using preprinted bags with your business name on them to place the purchased goods in. Encourage customers to bring in their own canvas or reusable bags to shop with. Put a big sign up at the entrance. Use recycled bags from other stores when possible or encourage the customer that they do not need a bag as it fills up the landfills and we all need to be green.

  3. Step 3

    Retain your existing customers. It is expensive to gain new customers, so you can save money on advertising by retaining the ones you already have. Do this by thanking them and encouraging them to come back. Send thank-you cards if practical for larger ticket sales, and give small inexpensive gifts for lower priced sales.

  4. Step 4

    Offer the customer something extra in the form of candy on the checkout counter or cookies, free coffee, etc.

Comments  

| View All 6 Comments

bostontech said

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on 5/26/2009 Golden advice, especially about retaining old customers over bringing the new ones in. 5*!

boatst said

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on 2/28/2009 Good article. Thanks.

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on 1/28/2009 It's really great to try to retain EXISTING customers as you list in number 3. Good advice.

VirtualWorker

amandata said

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on 1/27/2009 great tips

Limowreck said

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on 12/11/2008 Wow, these tips are great. I don't really think about how much it costs to accept credit payments or provide printed bags to customers. Super ideas for saving money on a small business. *****

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