Want to save money on your business utility bills? When you run a business, reducing overhead is important if you want to see greater profits as well as more money in your own pocket. One way to accomplish this is to examine your expenses so you can cut back any unnecessary spending.
Although you may not be able to reduce the lease payment for your business each month or other bills, such as payroll or postage, there are still ways you can save. For example, you could try to reduce your utility bills. There are at least 7 ways to save money on your business utility bills that can help you save money.
Use Energy Efficient Light Bulbs
When your light bulbs burn out, replace them with new ones that are energy efficient. You could save more than $1.00 per month on your electric bill for each bulb you replace. If you have a lot of light bulbs, that small savings could add up to quite a lot each month.
Plus, many of these light bulbs last for years longer than their older counterparts, so you won’t be running to the store to get more anytime soon.
A good rule of thumb is, if you aren’t using it, unplug it. Shutting off and unplugging computers, calculators, non-security lights, and sound systems can shave several dollars each month from your utility bills.
Just make sure you aren’t wasting time or making it inconvenient for yourself or employees. You won’t want to unplug something if it takes 10 minutes to get the wall outlet behind some furniture.
Stop the Drips
Fixing leaky faucets and running toilets in your bathrooms are additional ways you can prevent your money from going down the drain.
Some experts estimate one leaky toilet can cost you an extra $50 or more per month.
In addition, installing low flow faucets or restrictors can cut your bills down even more.
Lower Your Water Heater Setting
OSHA recommends you not lower you water heater below 140 degrees Fahrenheit to ensure you aren’t risking bacteria growth, but your water probably doesn’t need to be so hot it will blister your skin either.
Change your setting and your monthly savings could be anywhere from $2 to $8.
Change Your Thermostat Settings
Lowering your setting on your thermostat for winter and raising it for summer is another way to save a few dollars each month. Estimates are that you can save around 3% for each degree you change your thermostat. Also, turn the heat down when you leave each evening and up a comfortable level when you arrive each morning. If you don’t want to think about it all the time or constantly adjust it, you can install a programmable thermostat for as little as $30.
Since I work from home, I’ve made sure to keep my heat fairly low to help my personal and business budget. I just wear extra layers in the winter. But I realize this isn’t always possible when you have an office full of employees.
Check for Leaks
Just like in your home, a business occasionally needs to be checked for leaks around doors and windows. Installing caulking and weather stripping in areas that need it can keep your money from floating out the door or windows and increase efficiency anywhere from 5% to 40%.
Change the Filters
Heating and cooling systems for your business are not that much different than in your home. Changing the filters at least once a month can improve energy efficiency and save as much as 15% on your bill.
These are just some of the ways you can save money on your business utility bills and increase your profits.