Wednesday, December 7, 2011

Creative Ways to Increase Profits

Decrease business start-up costs - here's some good news about the recession: Start-up costs tend to be reduced in a soft economy. Certain expenses end up being lower due to reduced demand. You might find that materials, licensing fees, franchise fees, the cost of buying an existing business, even marketing and advertising costs are lower than what they would be when the economy is booming.

Many companies that serve business startups are willing to reduce their fees and costs without negotiation. Negotiate anyway, and push those costs down even further. To maximize start-up cost reduction, create a spreadsheet of all anticipated costs. Keep track of each expenditure. Analyze each cost and look for opportunities to further negotiate these to a lower amount.

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