Money Matters

10 Money Wasters (and how to stop the waste)

In tough times, little things count, and small efforts to save a bit of money here and there can add up over time. Every day there are opportunities to save, and it’s really easy to do once you identify where the waste is happening. From buying bulk sizes to shopping for furniture at a swap meet, these little things can make a difference in your budget.

Serving Trays for Products
When you are performing a service, think about using serving trays to regulate how much product is being used. This works especially well if you are buying products in bulk. Take a scrub for example. Instead of squeezing it out of a tube or taking it out of a small container in front of the customer, scoop it out from the large bulk-size container in the back and put it into a nice serving tray. This way you can keep track of how much each tech is using for a service, and the serving trays look more professional to clients.

Buying in Bulk
Buying in bulk is one of the easiest ways to save on product costs. Take a careful evaluation of what products you use and what sizes the manufacturing companies offer them in. If larger options are available, and you are replacing this product at a consistent rate, then go big. It will be a more expensive initial purchase but you’ll end up saving in the long run.

Squeezing Every Penny
A clever trick to make sure you get everything out of your product purchase is to cut open tubes or bottles of lotions, scrubs, or masks and scrape out the product on the walls that doesn’t come out when you squeeze. It may seem messy, but you will probably be able to get one or two more applications out of this, and if you do this every time it will add up.

Money Down the Drain
Immediately fix any leaking faucets or pedicure thrones. A constantly dripping faucet can waste approximately 113,000 gallons of water a year, which can cost you close to $600. A quick do-it-yourself faucet fix or a pedicure throne maintenance visit will help keep your money from going down the drain.

Light Consciousness
Turn off any lights when you are not using them, and invest in switching to energy ?efficient bulbs. The technology for energy efficiency is getting better every day, so the amount of savings made on an electrical bill could make up for the cost of the bulbs within a short time.

Sanitizing Endurance
Think about how much sanitizing liquid you are using for implement disinfections. If you are not using a sanitizing tray for your implements already, look into getting one. Sanitizing trays are designed to hold just enough disinfecting liquid so implements are fully immersed for proper disinfection, but not using more liquid than necessary. The trays help you get the maximum amount of efficiency out of your sanitation liquid, while still providing a safe and effective disinfecting environment.

Humble Design
Fancy decorating is not going to necessarily make you money, so when you need to buy a new chair, coffee table, or desk lamp, always think bargain. Heading to a swap meet or getting up early to make the local yard sale rounds can pay off more than you think. As long as the items are tasteful and clean, your clients will probably not notice that it isn’t brand new or top dollar.

Printing Dollars
Look into how much computer paper you are using and how much you’re paying for printer ink. An easy way to cut down on paper costs is to make sure you always print on both sides of the paper. Plus there are many companies competing for your ink dollars, so shop around and see if you can find cheaper vendors for those expensive cartridges.

Office Smarts
Remember to turn off all office equipment when you are not using it. A single computer and monitor left on 24 hours a day can cost up to $70 a year. Remembering to turn the computer off or using stand-by modes can bring it down to $20 a year and prolong the computer’s lifespan. Did you know that it uses up electricity when an item is plugged in even if it isn’t turned on? Cell phone chargers, e-files, and paraffin units should all be unplugged when not in use.

Heat Up Savings, Cool Off Expenses
To help keep energy costs down, it is recommended to set thermostats to 78° F in the summer and 68° F in the winter. This keeps energy costs to a minimum while keeping temperatures relatively moderate in comparison to the season. Also remember to change the heating and/or cooling units’ filters monthly when you are using them a lot. You need to make sure all your temperature equipment is working at optimum levels. Often salon owners think a unit is working properly when it is in fact not, and it’s these silent factors that can end up costing the most.


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