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Do you see the prospect of buying an existing business for sale as being a leap in the dark, as this discourages many an enterprising individual? The entire concept can be very alien if you’ve never been involved in these types of transaction before. Most of us are used to engaging in transactions where we buy a tangible product like vehicles or houses and in these cases “what we see is what we get.” A business valuation can be composed of several intangibles as well as inspectable assets and in many cases goodwill factors into the equation. Goodwill certainly comes into the equation in a service related business, as does a good client list and as such your process of due diligence will require you to explore and reveal quite a lot as you inspect different documents accordingly.

Always remember that there are two different viewpoints here. The seller will have a clear indication of the worth that he or she places on the business. This may often be inflated by a natural enthusiasm and the sheer amount of hard work and dedication that may have been put into the business to this point. Never disrespect the sellers’ point of view of course, but look at the documentation and evidence that you will find in the cold light of day and remember that it is entirely up to you to determine if you’re going to get involved and buy business interests in this way, according to your value parameters.

When you decide that you want to move forward and investigate whether to buy a business of interest, understand that this may be a lengthy process. At this time, you had better have a good level of common sense and humor and be ready to communicate at length with the seller.

This is where expert advisers will come into their own and if you have no real experience with this kind of business, its related market or niche, utilize proven resources and get as much help as you can. This is not to say that you will simply hand off all the work to these advisers, barely looking at the documentation presented to you, as the decision-making must in the end be made by you and you alone. The financial documents and all of the paperwork must be reviewed by you first to be sure that you have a great feeling initially before you hand them over for further processing by your experts.

Always be wary if some of the financial documents are either missing or incomplete, or are not balanced and reconciled correctly. Certain precedents must be maintained and accounting procedures completed. You may be asked to sign some non-disclosure or non-compete documents before these are made available, but the financials are the rock upon which everything else is built.

Each and every operation is different in its own right and no two businesses are the same. So many external influences are involved and any number of different events can come to bear to create a variety of different situations. Expect to uncover some unusual facts and figures or surprises and remember that, while industry benchmarks are interesting, a lot of the information you discover here will be a function of real-world activities.

Richard Parker is the President and founder of the prestigious Diomo Corporation - The Business Buyer Resource Center. His celebrated materials, seminars and consulting have encouraged thousands of aspiring business buyers from around the World to pursue their dream to buy a business.

Pharmaceutical companies understand how tough life can be. They have to answer to many different “bosses,” not all of whom really have anything to do with driving their bottom-line sales. While they are trying to generate and develop meaningful relationships with the most important clients while determining how best to handle key account management, they also have to address the demands and whines of regulators, auditors and other forces.

The pharmaceutical company must understand that key account management tactics are very important, while also requiring a dynamic approach, flexible positions and creativity. The key account sometimes has several different points of communication within the pharmaceutical company and this can lead to a certain amount of confusion if not handled correctly. However, it is also true to say that these individual “points” could view the key account from different perspectives, depending upon the job level and/or driving force.

Invariably, pharma consulting tells us that the front-line sales executive may or may not be motivated by revenue levels and there is danger that he or she may not have the ultimate interests of the employer, the company, at heart. It may not be very obvious and certainly not “cut and dried” but if it is not recognised, the overall relationship between the two companies can be significantly affected.

A key account can be so valuable to a pharmaceutical company as it can provide a high level of stability and enhance cash flow to no end. The designation of “key” account should not, however, be given lightly, regardless of the potential. It should never be decided based on scale alone, and many other factors must be taken into consideration. It is possible that a high-volume could result in a low bottom-line return, due to the cost of servicing the needs of the client and razor thin margins.

A well-known metric is applied in most business situations, telling us that 80% of the value is often supplied by only 20% of the clients. Insofar as this is true, a potential “key” account should be categorised and understood before an approach is determined. A number of different layers of key account management could exist within a typical organisation and all tiers of management, especially those who regularly interact with clients, must receive correct training in the techniques required to handle every level and type of account.

There are several ways to look at whether a client qualifies as a key account or not including total volume of sales, percentage allocation of profits, the rate at which the company is growing compared to average and by comparison to others across the board.

A pharmaceutical consulting firm fully understands that not all clients are created alike and further, that not all key accounts are alike, either. In most cases, pharmaceutical consultants have seen how to handle these different levels of accounts successfully and can help to tutor the company’s various staffing elements accordingly. It is best if the pharmaceutical company develops a critical statement outlining the terms of the relationship with each and every client. There should be no “stock” description, but as each key account is of elevated importance to the company’s existence, all staff members must be trained to recognise the difference between “apples and oranges.”

Alan Gillies is the Managing Director of L2L Consulting, specialising in enabling pharmaceutical companies to achieve new heights of productivity and performance, throughout all levels of management and revenue generating activities.

The healthcare industry was one of the few growth areas during the recession of 2008 and 2009, and in the United States was front and centre in the news as Pres. Obama’s promised health care reform took a considerable amount of time in Congress. Indeed, the healthcare business was a pivotal part of Obama’s campaign and he wasted no time in prompting both houses of Congress to consider change. It appears as if we are poised on the edge of a momentous change in the industry, which will affect everyone involved from healthcare providers through hospitals, insurance companies and pharmaceutical companies. In these tumultuous times, the role of healthcare and pharmaceutical consulting organisations will be pivotal and all the skills possessed by these companies will be necessary as changes are processed and results analysed.

Healthcare can be seen as a growth industry for a considerable time ahead as the baby boomer generation starts to age and comes to a period when more strain is likely to be placed on the healthcare system. This will call for innovation and the provision of additional services and products by the pharmaceutical company. Competition in the marketplace is sure to evolve.

Costs will be under the microscope in the near future and insurance companies will be torn from both sides, due to their role as the intermediary. Healthcare professionals are sure to receive pressure, as they weigh up the advice that they should give their patients in the light of new rules and rafts of legislation. In short, a period of uncertainty can be expected to add even more pressures to an already pressure packed environment.

In the time to come, pharmaceutical consultants will be more valuable than ever as pharma consulting plays its role in deciphering new and complex rules and positions. Training of the company’s workforce is best engaged with the help of consultants, who provide an extra layer of expertise, experience and training themselves. Executives from the parent company must spend as much time as possible dealing with the principal concerns associated with production and regulation. They should devote valuable time to staff administration, maintenance and training. To help ensure that sales executives are deployed correctly and return as high a value as possible to the company, the pharmaceutical consulting firm is ready and willing to take on this important task.

The healthcare business is one of our most dynamic industries and pharmaceutical and healthcare consulting is a critical internal component. Not all organisations interested in the development of a pharmaceutical company can be classified as “friendly” and this puts significant pressures on the company. While the company’s executives struggle with these issues, figuring out how to interpret positions and trying to devise how to approach and deal with each party from a strong position, the pharmaceutical consulting firm can provide valuable backing. The consultant can be a valuable ally and an extra pair of eyes and ears, to help the pharmaceutical company navigate through challenging, risky, yet potentially lucrative times ahead. The company is advised to consider a long-term engagement with the pharmaceutical and healthcare consulting firm accordingly.

Alan Gillies is the Managing Director of L2L Consulting, specialising in enabling pharmaceutical companies to achieve new heights of productivity and performance, throughout all levels of management and revenue generating activities.

If you’re looking to buy a business of any kind, keep in mind that this involves a complex set of metrics due to the dynamic nature of the purchase. Many tangible and intangible elements will have to be taken into account and while you may come across benchmarks in the industry, often quoted by those who are looking for a good price, every situation must be looked at differently. As such, it can be very difficult for a prospective buyer to value a liquor store for sale, especially when he or she looks at what appears to be a similar prospect nearby at a significantly different price. Why is there so much difference, even though each appears to be similar in type, style and size?

When you buy liquor store business interests, understand that the purchase is composed of many different assets and the entity’s position at any one point in time is dependent on a large variety of factors. Some of these factors could include efforts already put in by the owner, marketing plans, client demographics, a particular focus on services or products, how well the staff interact and so on. It is therefore particularly important that you glean as much information as you possibly can, conduct comprehensive research and be especially diligent before you begin to decide whether it is right for you.

Here are some of the issues you might face when contemplating the purchase of a liquor store:

* location.
* whether revenue and profits are stable and sustainable.
* the customer database and potential for expansion.
* how portable is the lease and what are the terms and conditions associated?
* demographics and population shifts.
* road construction projects.
* look at the employees, do any work for cash or favors and are many family members involved?
* any pending threats or opportunities that could significantly impact revenues.

For some reason, people in the liquor store industry often want to focus on benchmarks and while you can certainly refer to these for information, never rely on them. It’s certainly true to say that no two businesses are the same and a variety of focus areas are possible - premium products, beer, wine and cigarettes. Always be on the lookout for abnormalities and if something really jumps out at you, get to the bottom of it. At the end of the road, however, look at the bottom line to determine how much the business is worth to you.

When you are assessing the business financials and particularly the revenues, you must dismiss any cash sales reported by the owner unless these sales are backed up by audited accounts and are included in tax returns. The outgoing owner cannot expect to receive the value for these “under the counter” sales, as he or she may well have not reported them for tax purposes in the first place.

Inventory offered must be saleable and not be made up of products that are out of date or unlikely to sell. For example, a huge stock of winter ales will not sell well as you enter the summer months.

To establish a base upon which to value and then decide to buy a business, look at net income, add owner salary, any perks, received depreciation and interest and then deduct any allocation for capital expenses. This latter item refers to any perceived payments you may have to make in the short to mid-term in relation to improvements, upgrades or necessary investments.

Richard Parker is the President and founder of the Diomo Corporation - The Business Buyer Resource Center. His inspiring materials, seminars and consulting have assisted thousands of business buyers with achieving their life long dream to buy a business.

When a prospective buyer is trying to establish whether he or she will purchase a particular business for sale, there are many buy business elements to take into consideration. When prospects arise, quite apart from the question of suitability, location and longevity, the issue of real-world business valuation is front and center. The seller will present a series of financial documents and it is, of course, in their best interests to portray the business for sale in a shining light. As such, the issue of “add backs” is likely to represent one of the thorniest problems.

In most instances, add backs are included in an effort to present the business from a real world point of view. When compiling traditional accounting reports, it’s essential to adhere to a set of very rigid standards - there may also be additional footnotes to consider, and depending on your point of view, these can be either positive or negative. When you’re thinking about buying a business, it’s crucial that you carefully scrutinize each and every add back, as they can often make a significant difference in your final valuation figure.

When performing the process of due diligence, checking recorded sales and purchases against ledgers and reconciled bank accounts is usually a fairly straightforward task. Far more often than you might think however, the current owner will strive to draw your attention to points which may be “one-time” instances, or to extra income which might not actually appear anywhere in the books at all. You should be open to all suggestions of course but maintain a degree of skepticism at all times until you are able to validate the claims, or otherwise.

Don’t forget that for an item to be claimed as a “one off,” it must not have occurred during any of the previous years. Seller could argue that a particular expense is much larger than it should be due to a particular incident or requirement, but if you see a pattern of any kind, then the add back must be discounted.

One of the most common add backs, especially when the business can be owner operated, is to suggest the value of a manager’s salary. You need to establish that the outgoing owner was not actively involved in the operation of the business in this case and this figure is only of interest to you if you intend to assume the role of the redundant manager.

Add backs may not be asserted whenever they represent intangibles, such as the prospect of additional revenues due to a new marketing initiative that the outgoing owner has just put in place, for example. Nor should you believe an owner claim that you can reduce a certain category of expenses through renegotiation or other initiatives. After all, if the outgoing owner has not being able to do so to this point it seems reasonable to assume that an incoming “newbie” is likely to have even less ability to affect short-term change in this regard.

Be particularly wary when you are told that a business retains a lot of cash sales. You must essentially discount this notion from a strict valuation perspective, even though such a claim made, after review, may be seen as reasonable. If the owner has not entered the cash sales on the books, he or she will not have accounted for taxes correctly and it’s not fair for them to expect to receive a double benefit in this way, a net tax saving and enhanced business value.

When you have reviewed the complete list of business financials, treat each claim for add back on an individual case basis and never roll them into an inflated value. At this stage you must be particularly diligent to enable you to arrive at a real world price for this prospect.

Richard Parker is the author of the How to Buy a Good Business at a Great Price series. As President and founder of Diomo Corporation - The Business Buyer Resource Center, his materials, seminars and consulting have helped thousands of business buyers realize their dream to buy a business.

Everyone needs to eat to live, and over time we’ve established a habit of making this process a social one. As such, a restaurant for sale is one of the most popular businesses to buy, and one which may represent an even more attractive purchase proposition if you have a particular taste for a certain type of food!

Perform due diligence carefully when looking to buy restaurant business, even though your intuition - and your stomach, might be telling you that it’s the right decision for you. This particular industry is extremely competitive, and there are an array of factors you’ll need to consider. Allocate a period of time, experts recommend four weeks, to observe the operation of the business. This should enable you to get a good feel and to smooth out any peaks or troughs before you make your final decision.

You have several key areas to investigate including the premises, the financials, the equipment, lease, the operations and the employees. Do not be afraid to bring in experts, including an accountant experienced in the food business to help you, but as you go through your observation period, use your general business sense and a good portion of common sense to observe how everything works, especially from a client point of view.

For your paper and number crunching chores, expect to review the tax returns, profit and loss statements, cash flow worksheets, inventory records, employee records, equipment agreements, maintenance schedules, all necessary licenses, health inspections certificates and a history and copy of the lease.

When reviewing the financial documents, it’s essential to keep in mind that the restaurant business has a large volume of cash sales. Surprisingly often, many business owners decide to siphon off some of this cash for themselves, not reporting it to save on taxes. In the long run this isn’t a good idea, as this money could have been applied toward a marketing budget or buying new business assets, and if siphoning is going on, it can be quite hard to prove income.

When you are inspecting the property, look at it from an overall perspective as well as in detail. Can it be adequately seen from nearby major roads, is signage appropriate, well-maintained and presentable? Are there any other major competitors and are they overbearing? What is your first impression when arriving in the parking lot? Take a look at external dumpsters and trash removal areas to make sure that these are as well-maintained as possible and are unobtrusive.

Moving inside, what is your first impression of the decor. Is the waiting area pleasant and contributory to the overall ambience? Is there adequate signage for bathrooms, emergency exits? Pay close attention to the bathrooms. They should be in perfect working order, comfortable and impeccably clean and well-maintained. In a restaurant, everything, repeat everything should be clean, presentable and in full working order.

Most of the equipment contained in a restaurant and specifically within its kitchen is subject to certification, inspection and permitting. Check to see that this is all up-to-date and timely. While every element of the equipment should be operated according to the letter of the law, you must also ensure that regular maintenance and cleaning schedules are top-notch. For major items and appliances, see whether contractor warranties are available and can be transferred to you.

Very often a lease can be a potential stumbling block when looking at a restaurant for sale. The landlord will want to ensure that the business is being operated as efficiently as possible and may be wary of transferring or issuing a new lease to someone who does not have much experience. Look for terminology within the lease stating that transfers will “not be unreasonably withheld,” and aim to ensure that you get at least as favorable terms during your tenancy. This would be a good time to assess the overall viability of the environment within which the business operates. If in a strip mall of some kind, are the anchor stores in good shape and do the majority of other businesses also appear sound? You do not want to see an anchor store disappear and the overall visitor level to the area decline.

When you analyze the operations of the business, you want to learn how the current owner operates and whether there are any immediate issues or challenges that you will have to take into account. Look closely at any “special arrangements” or unique selling points that involve a particular individual, a style or presentation of food. You want to be sure that these elements are transferable or will be present when you take over.

A restaurant will likely rise and fall on the strength of its employees. While you can expect a high turnover in any kind of restaurant, if you see some loyal staff and a good “team spirit” this can be a definite plus. Check to see how people are hired, the terms and conditions offered to them and exactly how they are paid.

While you should insist on an observation period, before you are involved in formal discussions with the seller why not kill two birds with one stone and visit the restaurant for a few nice dinners or lunches with other companions? You don’t have to show your hand at this stage and can get a really good feeling by observing how the staff come and go, the operation within the kitchen ideally and in general get an opinion of whether everything is orderly and well-structured during the busiest times.

Richard Parker is the author of the How to Buy a Good Business at a Great Price series. As President and founder of Diomo Corporation - The Business Buyer Resource Center, his materials, seminars and consulting have helped thousands of business buyers realize their dream to buy a business.

Many businesses have implemented energy efficiency measures in their facilities over the past several years to help decrease operating expenses and aid the local and global environment. What a lot of these companies do not know is that sizeable federal tax deductions are available to them and also that time may be running out.

The Energy Policy Act of 2005 (EPAct 2005) provides generous, immediate tax deductions to businesses for making energy efficiency improvements to their buildings. The federal tax incentives center mainly on efficiency improvements to lighting, HVAC and building envelopes and can be as large as $1.80 per square foot.

The Emergency Economic Stabilization Act of 2008 extended Section 179D and EPAct 2005 so the act will not expire until December 31, 2013. However, that does not mean that time may not be running out for some companies.

For businesses that implemented energy efficiency projects in 2006 it is probable they filed their tax returns before April 15, 2007. If they were unaware of the deductions at that time, they are now at risk of losing those tax deductions forever since the IRS only allows a three year period to amend tax returns.

That means if you have not yet amended your 2006 tax return you have only a few months left to do so!

As an electrical contractor working with commercial and industrial customers you certainly have been thinking about ways to increase your sales and likely how to better utilize your current book of business to that end. You have also most likely been approached by your current customers asking what they can do to reduce their energy costs.

Have you thought about a strategic partnership with an experienced engineering firm that specializes solely in turnkey, energy cost reduction projects on a national level? One that can bring whole facility energy solutions to the table for you and your customers? A company that can provide a fast payback and increase cash flow for your customer?

Bringing in such a company will grow your business as you will be the one who is sub-contracted by the engineering firm to provide the installation services under their management and direction. You can use this approach over and over again with all of your customers and doing so will not only increase your revenues exponentially, it will also transform your customers’ impression of you from simply another vendor to that of a valued consultant.

Save Money On Your Company’s Energy Bill, visit Energy Edge Technologies site for strategies on saving a tremendous amount of capital on your Corporate Energy Bill or call 888-729-5722 Ext. 100.

When looking to buy liquor store business, the process of due diligence goes way beyond just an assessment of the presented financials. You need to be able to access all the files and records, review information and research personnel as you review what you’re being told. It is recommended that you allocate at least four weeks for this process and do not be tempted to rush to judgement. There are a surprising number of issues which may only become apparent over a span of time, so always keep this in mind and proceed cautiously.

There are some decisions that you can make about buying a liquor store business before you immerse yourself fully in the due diligence process. While you’re likely going to have to do a great deal of number crunching and leg work as you press on ahead, is there anything at this point which you have come to understand about the industry, about this business in particular, its owners or its location so far that has given you pause, causing you to second guess yourself? If for example you already know that financial records are incomplete for reasons given by the seller, or the condition of the store or its assets are not as you had hoped or expected, inventories are incomplete, inspections, certificates or licenses are compromised for one reason or another – all may be reasons for you to turn around and bid good day.

For a process of due diligence to be complete, you will need to concentrate on seven different areas:

1. The Premises.

We’ve already covered the crucial importance of allocating not less than four weeks to this endeavour, and you should reach an agreement with the seller for this set period of time so that you can personally observe the day-to-day operations of the business. First of all, you’re going to need to assess the inside and outside of the place of business and figure out a rough estimate of what you might need to pay out to replace, repair or upgrade. Remember that the attitude of the staff is very important in the retail business and you should immediately assess how the existing staff interact with clients. Are they generally friendly, attentive, and prompt as well? Personal issues or conversations should not be apparent. Ask yourself whether the store looks good, has a good ambience, appears fresh and clean, has well-maintained restrooms and break areas and is generally spick and span.

You must also ensure that you are happy with the general location of the business, the surrounding stores, the type of people who frequent the area, the accessibility and especially beware of any pending major road construction in the area as this often has a significant bearing.

2. The Financials.

As a minimum, you will need to review the profit and loss statements, the balance sheets and tax returns. You would do well to employ the services of an accountant who is experienced in the liquor business to help you here. Look at all the supplier invoices and reconcile them to revenues. This may be a time intensive process but you will be able to determine your margins this way. Be very aware of any transactions that involve cash, especially if it involves your suppliers. You will need to get written confirmation from the suppliers of their ongoing terms.

Remember some of these industry benchmarks:

• gross margin should be between 24 and 28%.

• rent should be 7% of revenue maximum.

• product mix should be up to 70% liquor or up to 40% wine.

• labor should represent 5 to 7% of revenue.

• net profit should be 8 to 12% of revenue.

• inventory should be turned over between eight and 10 times per year.

3. The Equipment.

All equipment and furnishings should be in adequate working order and not in immediate need of repair or replacement. As such you should review all the maintenance and service records and look for yourself to see if all refrigeration cases are clean and well-maintained and all other equipment is well looked after.

4. Vendor Agreements.

Your wholesalers and suppliers are absolutely essential when you purchase liquor store business assets and you must get to know them well during your due diligence. Can arrangements be transferred to you or will you have to make new ones? You do not have to be prepared to settle with the existing suppliers or vendors and you should really investigate as many options or opportunities as you can. You may, for example, see better terms elsewhere and this knowledge will be great ammunition when you come to negotiations and peace of mind.

5. Lease Contracts.

Always be sure the lease is transferable or that there are no obstacles ahead of you. You must be able to assume or acquire a long-term lease before proceeding.

6. Operations.

It is likely that you will need a number of licenses and this should be a particular area of concern when it comes to a liquor license. Sometimes these may not be assigned or transferred or other onerous terms may be set by jurisdictions.

Go through the daily procedures from opening time to closing time; who has access to keys and alarm settings? Does the business have a procedure for emergencies of any kind? Ask the seller to provide you with an optimal inventory level. Ensure that you review all insurance certificates and be adequately covered for all eventualities. You will need to talk with credit card processors and merchant banks and be prepared to move to access better rates if necessary.

7. The Employees.

As this can be a significant cost and liability area, be focused here. Check each member’s compensation, especially if there’s any possibility of cash being paid “under the table.” If you see that there is a high turnover of employees, ask yourself why. Is there a procedure in place for training? While the seller will often be wary about letting his employees know that the sale is in process, you nevertheless need to analyze each employee individually, assess their loyalty and competence and adjust your plans accordingly. Understand that certain procedures may be quite traditional to them and you should ask yourself how you feel they will react if you need to make significant changes. If one or more employees are absolutely critical to your success, you will need to meet with them prior to consummating a contract.

When you find a liquor store for sale, if you conduct your due diligence correctly you will have the opportunity to see exactly how the business ticks, and you won’t be in for any surprises when you take over.

Richard Parker is the President and founder of the Diomo Corporation - The Business Buyer Resource Center. His inspiring materials, seminars and consulting have assisted thousands of business buyers with achieving their life long dream to buy a business.

Every small business is capable of growing and stretching with the right guidance from people who already have some knowledge in the field. When looking for helpful suggestions for operating a small business successfully, it is important to talk to experienced entrepreneurs. These are the people who have the taste of business and have overcome numerous barriers and challenges related to the business. Take a photo shop for example, in order to maintain the business at its peak, the best suggestion that can be attained from experts is to purchase refurbished imagesetter and refurbished screen platesetters as these will cut down the cost of buying a new one and also will be a great asset for the business. Besides, there are numerous tips that small business owners can use in order to manage their businesses successfully.

When owners need business tips, business forums are the greatest place to get them. This is the place where business owners associate and also share words on their experience and awareness. There are numerous individuals on such forums who can give useful information and tips on operating a small business. Even if the business is undergoing disputes, there are individuals who can provide support and help.

It is important for entrepreneurs to have a clear perception and know what they wish to accomplish. They need to know what product and services they are offering and how to mix their strengths with their target market. If the owner has knowledge about his commodities and services, the customers will have certainty and will be dependent regarding the quality of the product he is buying. The entrepreneur should know everything regarding his business and even if he has no employees due to strike or some purpose, he should be able to manage the business. He should have an extensive mind and try to use latest technology for advancing his enterprise.

There are numerous insurance policies for companies and owners should consider this also. All the property of the company need to be insured against robbery, fire and storms. Owners should also ensure that the workers are covered with superannuation and workers compensation. Small businesses often neglect the part of liability which can even make them bankrupt if any allegation is made against them. Therefore, it is essential to acknowledge this as well and also accommodate public liability to cover the business as well.

Furthermore, if the company is situated in an area where there are less people such as in a small town, then the sales will be reduced and owners will not be able to make the maximum out of their enterprise. To make the business thrive, advertising is an important feature. Advertising in newspapers, magazines and online are a wonderful technique of spreading the word about the enterprise. It is not easy to operate an enterprise and at the same time if owners are familiar with the tactics and know their objective clearly, it may not be a tough job. Therefore, when running a small business, it is essential to learn the basics and use the helpful advice.

Connor Sullivan recently reviewed printing equipment and was impressed with the technology used today in the imagesetter. He ordered online screen platesetters for his office printing equipment.

The church was hoping to find ways to cut costs. Parishioner giving was down due to so many being laid off from work or losing their jobs altogether. As the leaders of the church met together their goal was to look for ways to save money on the operating expenses of the church building. They did not want to take away any of the money that went toward their humanitarian and mission projects. They still desired to feed the poor, take care of the homeless, and provide a place of refuge for those with nowhere to turn.

Like so many for profit and nonprofit operations they were trying to make prudent choices as they tightened their budget. Right out of the gate, they took a look at their janitorial service costs. They realized that they were spending a relatively huge sum of funds paying a janitorial service to tidy their church space for them. They realized a contract with an independent supply company to provide them with such things as toilet paper dispensers, hand dryers, urinal screens, and, toilet scrubbers, in addition to calling upon members of the church to volunteer their services to do the janitorial work, would provide their budget with some relief. Could a church member armed with a microfiber cleaning cloth and a bottle of disinfectant spray do a satisfactory job? It was worth a try. This was one of two substantial ideas the leadership of the church came up with for cutting costs. The following key ideas were determined to be money saving options for the church. If your business or church is looking to cut expenses, consider incorporating these two very simple money saving options.

1. Janitorial Services: As mentioned in the opening paragraph, take a look at delegating janitorial duties. If you can utilize volunteers, give them a crash course on proper cleaning methods and arm them with the appropriate supplies. If you are a business, think about delegating janitorial supply ordering needs to an administrative assistant, and consider your options for the actual janitorial work. Do you have an employee who would be willing to take this on as part of their job description or could you hire a part time employee to service your office space on multiple occasions throughout a week? Buying your own supplies and using an existing employee or an outside hire will certainly stretch the budget more than the use of a janitorial service.

3. Food and Food Related Supplies: A common organizational expense which can be curtailed is in the area of supplies such as napkins, coffee cups, paper plates, and plastic utensils. Disposable food supplies can be expensive for a business or a church. Sometimes these supplies can be misused or wasted by employees or church goers. Consider posting reminders such as “1 napkin per person” or having a person overseeing the handing out of food related supplies. Additionally, rather than supplying doughnuts, bagels, cookies, etc. for social times, consider having employees or church members sign up to take turns purchasing snack items.

Could cutting costs be much more simple? These two simple suggestions are a painless way for organizations to see immediate savings. While the savings will not be enormous, they will be significant. Over the course of several months your church or business will have more dollars to put toward other priorities.

Connor Sullivan recently purchased a unique microfiber cleaning cloth to clean up all types of spills around his workshop. He reviewed all the new styles of hand dryers to install at the bathroom at his local baseball field. He purchased a sturdy toilet paper dispenser to install at the bathroom at his local park.