I’m pleased to bring you this post ‘6 Things To Consider Buying In Bulk For Your Business’ – I do need to let you know that I have been paid to publish this post – I think you’ll find the information really helpful. See my disclosure policy.
Everyone knows that a basic in business is to limit your outgoings while maximising income. But how can this best be done? There are certain things that make sense to buy in bulk to make savings on these essentials. Here are some examples of the types of things where significant cost cuts can be made.
Stationary
Stationary may seem like a very small item but if you really add up all the consumables that each member of staff uses over the course of a whole year you will see that paying retail prices on these can be a real waste of money. Finding a reliable stationer that can give you a good price on bulk supplies then get your stationary store stocked up. Just be sure you keep track of usage and be sure that employees are not overusing or taking too much.
Stock
If you are the type of business where you sell retail items to the customer then it’s always a good idea to periodically review your stock suppliers and ensure you are getting the best deal. If you find the business is expanding and you are buying more in then press the supplier to offer you a better deal or even better if you can try seeing if the manufacturer will sell directly to you rather than going through a wholesaler.
Fuel
It may not seem like it’s possible but you can buy fuel in bulk and if you do a large amount of miles and deliver heavy or bulky items you might find your fuel bills being somewhat large. So it may make sense to invest in facilities to store and supply your own fuel, there are firms that can supply white diesel direct to your yard.
Uniforms & Work-Wear
If you supply your workers with uniforms, or any work wear or PPE then you should seriously consider buying it up in bulk and storing it for use at your premises. Make it a contractual fact that each worker is entitled to a certain number of items per year, season or quarter. It will then be clear how often they should get new boots, gloves etc.
Materials
If you manufacture or create products then the cost of raw materials can really be the difference between being competitive or not. The main calculation here is that you need to work out how much money buying materials in larger quantities will save you and check this against the cost of extra storage space needed to take these on board.
Cleaning & Break Supplies
Some things such as cleaning products and break room supplies may seem insignificant but the larger your business becomes then the more impact these seemingly insignificant items can really add up to become a problem cost. It’s really easy to find a good supplier and the costs are generally staged so that the more you buy the better the saving becomes.
