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Maximizing Profits: 5 Cost-Cutting Tips for Quick Savings

Discover practical strategies to save money and boost your bottom line this week. Learn how to review contracts, utility bills, cellular expenses, and more for significant savings. Find out how to outsource cost control effectively and access real-life case studies on cost reduction. Contact us for a free savings analysis today!

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Maximizing Profits: 5 Cost-Cutting Tips for Quick Savings

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  1. Five Places to Find More Profits This Week A Practical Guide to Saving Money and Building the Bottom Line for Study Group Members

  2. Facts of Life • Most companies focus on raw material or high-dollar expenses, yet good savings exist in routine purchases • Few companies define specific expense areas and systematically review supplier expenses • Creating a program of regular cost review by category, or using external consultants to help, can yield quick additions to the bottom line • Ben Franklin was wrong … a penny saved is worth 6 to 10 pennies earned

  3. Five Ways to Save Money Fast • Review Waste Disposal Contracts • Review Merchant Services Contracts • Review Utility Bills for Errors • Review Cellular Bills for Savings • Review Janitorial Supplies and Paper Consumables the savings can really add up!

  4. Review Waste Disposal Contracts • Read contracts to determine expiration dates and termination notice required • Send letters to providers (certified mail) to announce intentions to rebid contract • Look for opportunities to consolidate multiple locations with one provider and seek multiple bids • Not recycling cardboard? It may be a revenue stream to offset waste costs Target Savings – 8% to 15%

  5. Review Merchant Services Contracts • Review contracts for expiration dates • Seek out multiple bids focused on ancillary charges as well as base rate • Look for providers with master agreements from credit card companies rather than resellers Target Savings – 10% to 15%

  6. Review Utility Bills for Errors • Review electric and gas bills for accuracy of meters in use • Check for time of date tariffs for 24/7/365 locations to save money • Schedule reviews with utilities to analyze charges and rates in regulated states • Get bids from energy brokers in deregulated states if you haven’t already done so Target Savings – 5% to 10%

  7. Review Cellular Bills for Savings • Review your bill for accuracy – ghost phones, unused features, unexplained charges all add big dollars to cost • Look for ways to optimize plans with current providers to reduce unneeded minutes and data plans • Consider flat reimbursement plan for employees needing phones • Try to consolidate carriers to drive bigger discounts Target Savings – 15% to 35%

  8. Review Janitorial Supplies and Paper Consumables • Compare prices with several resources and look for companies that can sell everything at a good price • Be sure to include office product suppliers in review • Think twice before buying these items from general line wholesalers • Be sure to standardize selections among all store locations • Great supplier consolidation play! Target Savings – 10%-15%

  9. Plan B: Outsource Cost Control to Alliance Cost Containment • Free initial analysis of spending to determine potential savings areas • We cover 35 expenses categories and have solid experience in c-stores • Savings are negotiated and ready to implement within 8-10 weeks • Fees are based on 45/55 split of results – no savings, no expenses • All purchases are audited every two month to document results Typical Savings -- $1,500 to $4,000 per location

  10. Convenience Store Case Study • 50+ locations in Midwest • Major areas of savings included: • 11% savings on Snow Removal • 16% savings on Vehicle Maintenance • 15% savings on Office Supplies • 16% savings on Employee Background Checks • 23% savings on Telecom & Internet • 13% savings on Uniform T-Shirts Total Savings Found -- $126,000 per year

  11. We Understand Your Business • Millions saved for c-stores, including: • Daily’s – Nashville, TN • Huck’s – Carmi, IL • Thornton’s – Louisville, KY • Super Quik – Ashland, KY • Great Stops – Durham, NC • Patriot Oil – Green Bay, WI • MaxFuel – Hopkinsville, KY • Cheer’s – Paducah, KY • Family Express – Valparaiso, IN • plus many more

  12. For more information • Please contact us for a free initial savings analysis to see what we can do for you Rudy F. Moeller, Jr. Vice President, Client Services Alliance Cost Containment 502-805-1274 office 859-576-8387 cell Rmoeller@alliancecost.com

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