Ten Ways to Cut Cost Within Your BusinessÂ
No matter how much you generate in sales, the most important key is generating bottom-line profit. Profit is what provides opportunities for future growth and expansion and allows your business to build a solid base from which to operate for years to come.
Here are 10 ways to cut costs and ultimately increase profit.
With the costs of motoring soaring and the ever pressing environmental pressure to make our lives greener and cleaner there has been a real influx over the past year or so in the bicycle sector. The government have improved cycle paths throughout the country and most city councils are now running incentive schemes to encourage people to cycle into work. This has seen steady growth in sales of new and used mountain bikes and bicycles in general especially in the warmer months where this lovely weather we’ve been having really makes you want to get out and get active.
It is in the bike sector that we here at Wholesale Scout have focussed our attention for June’s Case Study.
Here at WholesaleScout.co.uk we’re always looking out for growth markets and products which will enable our members to capitalise on the popularity and profitability of a sector which is enjoying a high volume of sales and good profit margins.
It’s with this theme in mind that brings us to this month’s Wholesale Scout Case Study. Our research team have been closely following the scented candle market over the past year or so, as the scented candle (especially in the form of the bigger brands such as Yankee Candle) has risen from a quirky, niche product to a very popular feature in the average UK home.
As a wholesale information resource we are constantly being pushed by ourselves and our members to find the cheapest possible trade wholesalers in every product sector. This task becomes increasingly difficult when dealing with high demand, popular products from high profile multi-national brands. A typical example of this situation is the mobile phones sector. Global brands such as Apple, Nokia, Sony Ericsson, LG and Samsung (plus many more) regularly create strong demands for their products by releasing new models with new features and backing these releases with huge marketing campaigns and celebrity endorsements.
As a retailer or a re-seller you always need to be looking ahead. Forward thinking allows you to maximize the potential of short-lived fad products or capitalise on the popularity of a film or sport by dealing in related merchandise. Many traders operate solely on seasonal products such as this and it is within this sector that we are focussing this month’s WholesaleScout case study.
Official Star Wars merchandise has long been big business for retailers with any manor of products from toys to clothing and video games enjoying great public demand due to the immense popularity of the now fabled movie series. Throughout the course of LucasFilm’s merchandising of Star Wars products this sector has raised over a whopping $9 billion for the company in revenue. Toys and action figures in particular have always been great sellers as limited edition models often become collectibles and can be very valuable to collectors in the future. That’s why when we heard that Star Wars were planning to release an official range of bobble head figures of all the movies characters (Luke Skywalker, Obi Won Kenobi, Hans Solo, Yoda – even the evil Emperor Palpatine is in there) we knew we had to find a cheap reliable wholesale supplier to ensure our members capitalised on this opportunity.
In the increasingly busy digital world there has unfortunately been an ever increasing element of cyber crime. Whether it’s internet scam artists launching viruses to collect bank details from people’s home computers or sophisticated hackers intent on creating havoc. Either way the modern internet user has had to evolve to protect against these evils which will be ever-present. With the meteoric rise in popularity of internet shopping and our dependence on computers it’s even more of a priority to keep your computer and your personal details safe. It is this issue that has made a good anti-virus programme a major priority for every cyber surfer and it is on the latest and greatest anti-virus software from McAfee that we focus our attention for this month’s case study.
Winter and the Christmas period especially is often a time for indulgence, where most people kick back and forget about the calories for a while as they enjoy time off work eating and drinking with friends and family. The result is a need to drop a few pounds in the New Year and knock that Yule-tide weight off as soon as possible.
Every retailer and re-seller is looking for the perfect item to stock for Christmas. As we’ve said in our monthly Case Studies countless times before (sorry to bore you by saying it again) Christmas really is a crucial time for the retail trade with Britons estimated to spend an astounding £11 billion during the festive season of 2009. This year we aim to help our members secure a share of this profitable Yule-tide pie by finding you the right product at the right price via the most reliable wholesale supplier.
As a pro-active re-seller we’re sure you have already been thinking about which products to stock during the retail sector’s busiest time of year – as much as 40% of consumer retail expenditure occurs over and during the build up to the festive season. The research team at WholesaleScout.co.uk are dedicated to ensuring its members do not miss out on the profit making opportunities this season brings to traders and shop owners alike. With this in mind we have found another profitable festive product which will make you a handsome profit in the coming months.
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