Industry sector:

Tool hire: Postage, stationery, advertising


You're likely to spend a certain amount both on promoting your hire business and on general postage costs - sending out invoices, paying bills by cheque and so on. Enter in your cash flow forecast the amounts you will spend on:

  • postage. You'll probably spend a certain amount on a regular basis, but every now and then you might decide to do a mail shot advertising your hire business. This will increase the amount you spend on postage in that month
  • business stationery such as letterheads, invoices and so on. Your local printer will be able to give you an estimate of how much a package of essential business stationery costs. You will probably pay for this in month one or two and then reorder as necessary later in the year
  • miscellaneous stationery items
  • advertising. You might decide to advertise your business on a regular basis, for example in the local newspaper, in local print directories, with an entry on Yell.com or on other similar online directories. You could have leaflets printed which you distribute or send out as part of a mail shot - for example telling builders or other contractors about the tools you can provide and your hire rates. Consider having your own website to promote your services

Once you have decided on your advertising strategy enter your estimate of the cost in the months in which you will spend the money.

Saving money with electronic communications

If you think your postage costs will be high you could consider switching some of your correspondence to email. Electronic invoicing could also work for your business.

Checkpoints

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