Industry News | November 4, 2008

Five Money-Saving Tips

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Running a successful restaurant requires hard work and long hours. It can be especially challenging in light of the current economic conditions. With consumer spending down, 71 percent of small-business owners have a negative outlook on the economy, up from 43 percent last year, according to the National Small Business Association. As a leader in the foodservice industry, Sam’s Club understands the challenges of independent restaurant owners and provides a variety of low-cost products and unique services designed especially to help them succeed.

“Our teams work tirelessly to stay tuned in to our members, keeping our ear to the ground at all times,” says Catherine Corley, vice president of marketing insights at Sam’s Club. “These are the five consistent money-saving tips operators have shared with us.”

• Always compare prices—No matter how insignificant the purchase may seem, it is always a good idea to compare prices. Some stores will offer price matches to meet or beat the current deal.

• Use credit options that pay back—Credit has tightened considerably, but is still available for today’s small-business owners. For those who have a good credit history, it can pay dividends to search out institutions that offer cash back or reward options.

• Lower printing and shipping costs—Most business owners say that the majority of their costs are related to shipping and printing expenses. Operators can save substantial amounts of money by seeking out discounts in these high-expenditure areas.

• Become tech savvy—It is no secret that taking a business online can increase the potential audience and help drive traffic to brick-and-mortar locations. To simplify the process, Sam’s Club offers its small-business owners a complimentary website and a range of online advertising packages. Sam’s Club business members are utilizing these tools to help save money and increase their exposure.

• Be prepared—While it may be tempting to do so, business insurance is one area that should not be cut. Buying appropriate insurance up front saves money in the long run and could potentially keep an operator from going out of business.

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