4 Tips to Reduce Expenses Without Negatively Affecting Your Business
As a business owner, you want your business to be successful, which includes making a good profit. We discussed in previous blogs how to get more customers or sell more products or services to your existing customers.
Today we want to focus on the other end of your business: expenses. Learn 4 ways to reduce expenses for your business and improve your bottom line.
4 Ways to Reduce Expenses In Your Business
1. Reduce Employee Turnover. Every time an employee quits or is fired, your expenses go up because you have to spend time, effort and money to recruit, hire and train another person. It will take time for that new employee to become as knowledgeable and proficient regarding your business message, methodology and mechanics.
2. Overtime Expense versus New Hire. Do your employees regularly work overtime at one-and-a-half times their pay rate? On a regular basis, overtime can become costly. Your accounting department should look at the overtime expenses and compare them to what the costs would be to hire another full time employee. That department can clearly identify when you should consider hiring more employees versus paying overtime to existing employees. This in the end can help reduce expenses and get more work done.
3. Automate or outsource non-critical tasks. Can some tasks be automated to make a job easier, faster, better or safer? If employees can finish a task faster because it is automated, then they can move onto something more critical that requires their attention or simply to another client. Automation can also help reduce expenses because it will allow employees to finish their work within their normal shift.
4. Temporary Staff. If your business has a normal busy season, consider hiring temporary employees from a staffing agency to avoid having additional employees with little to do for much of the year. Just as your accounting department should review overtime expense versus hiring new employees, they should also look at the cost of hiring short-term temporary staff versus overtime or new employees to see what can help reduce expenses.
When considering temporary staff, you should take into account the time it takes for the temporary staff to get used to the job and are as efficient as regular employees.
Pet Butler Franchise Owners Have Support Available
Pet Butler provides its Franchise Owners with customer service, billing, marketing and business support to make their franchises more efficient, profitable, and as a result, successful.
The National Call Center answers all calls, from initial prospects to upset customers, and provides immediate information to the franchise owner. The back-office support team also handles customer billing and processes payments. A lot of the day-to-day back office work is eliminated.
Coby Hough, Pet Butler Franchise Owner in Silver Springs, Maryland, made the decision to convert his independent scooping business to a Pet Butler franchise because of the National Call Center, which provides him a tremendous amount of support on a daily basis. “You don’t have to spend your time answering the phones, doing the billing, and doing the routing. It gives you back so much of your time so that you can actually focus on growing the business.” Hough said.
Hough also has access to a group with digital marketing experience so he doesn’t have to try to navigate the ever-changing digital marketing landscape. Hough noted, “As an independent company, I had to teach myself digital marketing and I don’t have the time to get good at it.”
Considering a Pet Butler Franchise?
Whether you are looking for a turn-key franchise or are in the pet industry and want to diversify, Pet Butler may be the perfect fit for you. Pet Butler provides marketing, customer service, back-office and business support to help you be successful. Learn more about Pet Butler by calling 844-777-8608 or visit us at www.growmypetindustrybusiness.com.