More Great Advice
Check back here often as this is where we will be adding new advice as our business evolves:
Making Money
- Don't underestimate the power of cheap coffee. If you sell coffee, make it as cheap as you can whilst maintaining a resonable margin. Cheap, good coffee is a customer magnet, people will drive to you to get it and nearly everyone purchases something to eat with their beverage. We charge £1.60 a cup whilst most charge well over £2.00, from a standing start 7 years ago, we now sell close to 30,000 hot beverages a year.
- Match Attack Cards, I know it seems trivial but these things walk out the door and young boys pester their parents for them. Invariably the parents will make additional purchases.
- Become a talking point, in our store, we have made a concerted effort to NOT decorate for Christmas, Easter, Halloween or any other event. This has made us a talking point and the customers invariably comment. This may seem srange but everyone has a bit of fun with it and it keeps us in their minds.
- As we all know, parking spots are at a premium all over the UK, if you have spare capacity, rent them out. We rent out 2 spaces a day fo £3 each. This generates us £1,500 per year.
- Think outside the box and take advantages of opportunities that might present themselves. For instance, when the Brexit vote happened, we designed a clothing range for the 48% of people that voted remain. These items are only available at our store and in 6 months we have sold over £2,000 worth.
Saving Money
- Turn your drinks fridges off at night, it will save you a huge sum of money in terms of electricity over a 12 month period.
- When you visit the Cash and Carry, use Self Scan. It is a simple way to monitor how much you are spending and ensure you do not impulse buy. Many shelf tags at the Cash and Carry are priced incorrectly so using self scan ensures you get the price you expect.
- If you afford to, replace Fluroecent Tubes with LED lighting, it will save you thousands over a year.
If you like what you see on this site and would like to hire me as a consultant, I am happy to discuss your requirements obligation free. To contact me direct EMAIL me.