Tag Archives: Shop the sales

Financials For Coffee Shops

Financials For Coffee Shops

Pixabay License

Free for commercial use

No attribution required

You won’t have to walk far to find a coffee shop in the United States. We love our coffee, which is great for you in terms of demand, but means there is always going to be strong competition coming from all angles. 

This is why you need to create a loyal consumer base by reaching optimal levels of efficiency and organization. An effective online management system ensures you stand out from others in the industry. 

Needless to say, COVID-19 has also brought further troubles to the industry, making it more difficult for small businesses around the country. Social distancing can mean that you are able to take fewer coffee orders throughout the day, which is why it is critical to look into the financial side of things. 

An online accounting system can help you to make sure that you have all of your money in order. Below, we are going to look at the different areas to consider, all of which can be managed with a financial solution that is integrated and tailored to suit your coffee company.

Payroll – By managing your employees’ payroll electronically, you can be sure of ultimate ease, efficiency, and less margin for human error. 

Debt Payments – Managing debt is vital for any business owner. Read up on DTSS sovereign if you need some help and assistance with this.

Cash flow forecasting – Cash flow forecasting is a vital component when it comes to business success. Inefficient handling of this area of your business can lead to huge problems. You should automate your cash flow so you can have a firm grip on daily finances, bills, and expenses.

Credit control – Stay on top of your credit for optimal financial security. 

Card payment facilities – Most customers will want to pay using their credit or debit card due to COVID-19. Make sure you give them this option with card payment facilities. 

Budgeting and profit projections – You can’t stay in the here and now if you want to reach your ultimate potential. By staying ahead of the game you’ll reap the rewards in the future by maximizing profits.  

Management reporting with KPIs – This is an essential component in driving your business to achieve its strategic goals. 

Point of Sales systems – Effective Point of Sales systems ensure this area of your business is handled successfully, whilst also presenting you with excellent data for moving forward.

Stock control across a number of outlets (for those with more than one shop!) – There is nothing worse for a coffee shop than running out of supplies. Make sure this does not happen by keeping track of your stock and orders. A good system should enable you to do this.

Customer loyalty programmes – Everyone has a favourite coffee shop. Make sure you are that shop with our effective customer loyalty programmes. 

• Sales discounts – Customers love a good discount! By managing sales and discounts effectively you can make better decisions so that you reap maximum profit potential from any sales are discounts you have running. 

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.

How To Save Money On Home Appliances

How To Save Money On Home Appliances

Image Source. Licensed under Creative Commons. 

A lot of us overspend on home appliances. This can include the initial purchase price, as well as running costs such as maintenance and energy bills. To help save you money, here are just a few tricks that could have you spending less on your home appliances.

Shop the sales

Many appliance stores have regular sales on. These can be great times to grab bargains on appliances. The January sales is a popular time for massive appliance discounts – because few people have much money after Christmas, retailers often have to offer much better deals to attract customers in.

Read reviews

Online consumer reviews can often tell if an appliance is reliable. Unfortunately, many of the cheapest appliances are less reliable, which can lead to frequent and expensive repair costs in the future. Save yourself money in the long run by reading reviews and only choosing an appliance that has good customer feedback.

Consider the energy rating

Most appliances come with an energy rating from A to G. Appliances that are graded A are the most efficient and are the ones that will save you huge amounts on your energy bills. It’s worth noting that fridge freezers can go all the way up to A+++ – if you’re buying this type of appliance you may not want to settle for an A.

Look out for online freebies

There are many sellers online giving away free appliances on sites like Gumtree. Whilst these appliances tend to be older (and therefore less reliable and less energy efficient), the fact that you’re paying nothing for them up front means that you’ll still likely save yourself money compared to buying a brand new appliance. A condition of these freebies is that you usually have to pick them up yourself from the seller – this means having a vehicle big enough to pick up the appliance.

Know when to repair, when to replace

When an appliance breaks, you need to weigh up whether it’s cheaper to repair or replace. Some repairs can be so costly that you may as well as buy a replacement. You should also consider the appliance’s lifespan.  It may be worth splashing out on central vacuum repair on a home vacuum system that’s only been installed 10 years ago (these systems can last 20 years), however it may not be worth getting a dishwasher repaired that’s 10 years old (these appliances usually only last 9 years).

Don’t extend your warranty

A lot of appliances will come with a year’s warranty. After this period, the seller may try to tempt you into paying for an extended warranty. These are rarely worth paying – whilst it does mean that your appliance will be repaired for free, the overall monthly warranty payments are likely to come to a much higher cost than were you to pay to get it repaired. Few warranties also cover the full amount of repairs.

Use your appliances less

You may also be able to save money on your appliances simply by using them less. Consider measures such as only washing full loads instead of half loads in your washing machine or letting frozen foods defrost before cooking them so that you use the oven for reduced periods.

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.