You're likely to spend a certain amount both on promoting your 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 are likely to spend a certain amount on a regular basis, but every now and then you might decide to do a mail shot advertising your 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 a golfing magazine. You could have leaflets printed which you distribute or send out as part of a mail shot. Local golf courses might agree to display details of the range and opening hours. You could consider having your own website to promote your driving range to as wide a catchment area as possible as people are willing to travel a fair distance to a range. Or you may decide to advertise in an online directory such as Golf Range Finder. A standard listing is free of charge and a premium listing is £20. (Members of the Organisation of Golf Range Operators (OGRO) are entitled to a premium listing as part of their membership)
- stationery and leaflets used in promotions. To encourage customers to return you may consider running promotions such as one free basket of balls for every five purchased. You could provide customers with a booklet that is stamped every time a bucket of ball is purchased so that you know when they are entitled to a free one. Alternatively you could consider offering a pre-payment scheme, under which regular customers could purchase a voucher entitling them to, for example, 500 balls, usually at a discount from the standard 'per ball' rate
Once you have decided on your advertising strategy enter your estimate of the cost in the months in which you will spend the money.