Is your business paying any of these prices? You are paying too much!

Posted in General by Marcus on July 16, 2013 No Comments yet

Is your business paying these prices for goods and services?

Markets change, wholesale prices move, relationships are important, we hear all of this but they always result in a price increase from the supplier, not so much a negotiation more of a take it or leave it.

We thought we would give you 10 prices for items that if you are paying in excess of then, it is probable that you are paying too much.

You should also check our other posting that showed 10 suppliers that we have made significant savings against recently to see if they are supplying you. Cost Detectives list of Shame. Or are you one of them?

 

Are you paying more than…..

1                    1pence per minute for national or local calls?

2                   5.5 pence per minute for mobile calls?

3                   £11 per collection for an 1100 litre waste bin?

4                   Zero to have your Merchant credit card bill sent to you?

5                   £15 for your PDQ machine?

6                   £3 per payslip all inclusive for outsourced payroll?

7                   £9 per collection for Feminine Hygiene Disposal?

8                   You did two years ago for print of any kind?

9                   £8.70 for a case of 200ml Coca Cola?

10              Zero for insurance charged via any of your lease agreements?

 

These are just a tiny fraction of prices that we have identified that are too high, if you are paying in excess of any of these then just drop me a line Marcus@TheCostDetectives.co.uk and we can help.

Equally if you would like to check a price for anything just email us a current invoice, any cost from A-Z; from Live Lobsters to a taxi to Heathrow!

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Commercial Property Owner? Do you have cash waiting for you?

Posted in Cost Detective by Marcus on February 9, 2013 No Comments yet

Do you have a commercial property that you use for your business?

 

Did you know that hundreds of thousands of UK businesses are due tax rebates totalling £70 billion, according to estimates by tax experts.

 

UK companies are able to claim tax relief on fittings such as lighting and air conditioning as well as other assets added to the property, though the lengthy legislative process involved in valuing these assets often puts firms off filing relevant claims.

Accountancy firm Deloitte confirming that, in 90 per cent of cases, tax allowance reports will uncover a tax rebate for commercial property owners.

For obvious reasons, the Revenue isn’t shouting about it from the rooftops. But there could be cash waiting for you now, could your business do with some?

“My accountant deals with all of this sort of thing”, I hear you say. The truth is that most accountants can’t be expected to have the skill-set required to identify capital allowances. It requires forensic skills supplied by property surveyors who are not merely looking at invoices.

Capital Allowance claims are one of the many things that we help our clients with if you would like us to see if you are eligible then just let us know, all on a no win no fee basis of course.

 

MarcusKing@TheCostDetectives.co.uk

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10 Top Cost Saving Tips for any Business

Posted in Cost Detective, General by Marcus on November 10, 2012 2 Comments

Ten top tips for savings costs in any company or at home

 I Recently used this list as a basis for a presentation I did to 20 business women in North London, it was well received. Not only because all the tips are real ones that we have used with our clients, but because some of them can also be used a home.

              1.     Energy                        Make sure you know when your energy contracts are up for renewal. If you     don’t  you will be rolled over into a new contract at a higher than market rate and be paying too much for years to come.

 

                 2.   Energy Usage           A very simple tip, when you leave your business tonight take a reading of your electricity meter. When you come in tomorrow take another reading. He wonder what on earth have you left on all night that is costing you hundreds and hundreds of ££s a year!

 

3.  Fax Machines           Please tell me you do not still have one of these, they cost over £200 a year to run. You can now have a digital fax which means that any fax that is sent to you arrives as an email instead. No more worrying about ink or paper of that horrible squealing noise if your fax shares your phone line. We got rid of ours sometime ago and we now use this, http://bit.ly/MAsfQy  costs £2 a month.

 

4.   Print Costs                   These costs are still falling so you must ensure that you get more than one quote each and every time. We act as a print price checker for a number of organisations so if you need help with what can be a tricky area but full of significant savings then let us know.

 

5.    Telephony                    There are again huge savings still being made in telephony, but if you are a small company or a one man band then have you thought about getting rid of your landline altogether? You can still have a landline number and just point  it at your mobile or answering service and you can change the number it points to anytime.

 

6.    For the retailers amongst you.    You should all be taking credit cards as a payment method, but when was the last time you checked how much your Merchant Credit  Card Company is charging you? It is not all about the headline percentage charges did you now there are over 16 other charges that can appear on your statement? If you have lots of tourists buying your wares did you know there is a way of reducing your charges to zero, and we know companies who are actually being paid by their Merchant Credit card company.

 

7.      Business Rates                        There are still 41% of small companies in the UK who are not claiming the discounts and rebates available. Have a look at your business rates bill and look for the RV value. If it less than £25,500 if you are in Greater London then you should be getting rebates.

 

8.      Data Back ups                     Do you back up your data? Do you back up onto a drive that sits next to your computer? Thief will just take both. What about at home are you backing up those precious digital photos etc. A large percentage of companies fail within 2 years of a significant data loss, do not be one of them.  We use a service that charges £60 a year for a terabyte, incredibly good value, if you want the details then just let me know.

 

9.      Do you run a cafe or a restaurant?        Do you measure your waste food? This is a great way to answer questions like are  our portions too big? Do our customers like what we are serving today? If you simply scrape all the left overs into a bucket then weigh each day you will soon get a picture of what is working and what is changing.

 

10.      Telephony again.                Have a look at your business phone bill, I want you to look for 2 letters that will highlight the fact that you are paying too much. Those letters are “BT”.  95% of the clients that we work with have been paying too much if they have had BT as their Telephony supplier, are you one of the them?

 

 

I hope you have enjoyed these 10 tips, please do not hesitate to ask any questions or indeed add your own. Don’t forget to share this article  if you found it helpful. Just send me an email Marcus@TheCostDetectives.co.uk

 

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Our part time Finance Director suggests which 6 things every restaurant owner should know each day.

Posted in Finance Director by Marcus on July 17, 2011 No Comments yet

If you measure these 6 things in your restaurant, you can then see if your improvements are making a difference.

1                     Wage Costs as a % of Sales per day

2                     Kitchen wage costs as a % of food sales

3                     Sales per head-  total sales divided by the number of customers

4                     Drink Sales per customer

5                     Revenue per Available Seat Hour. Take the total number of ‘seat hours’ and divide total revenue for a period by this number.

6                     Waste- How much ingredients can you not use again at the end of each day—weigh it!

Ask Marcus@PartTimeExperts.co.uk if you need help

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