Thursday, November 15, 2007

What expense can you turn into a profit?

Convert an Expense to a Profit

I read any and all business advice I can get my hands on and see how I can apply it to my own business now or in the future. In Freight Brokering the biggest waste I have is probably paper. I recycle my paper at my local schools so they get a little extra cash from the recycle man. I’ve read lots of uses for used truck tires. Think how you can apply this to our industry. Today's entry comes from businessknowhow.com

by Janet Attard

That's not as crazy as it sounds. Numerous businesses have done just that by thinking outside of the box. One expense that often can be converted to profits is the cost of disposing of waste products or scraps. Instead of throwing away scraps or, worse, paying someone to cart them away, consider whether there is some other use for the material.

A Texas manufacturer, for instance, turned a $35,000 expense for removing wood scraps into a $15,000 profit by processing them into a bedding material for use in poultry farms and horse stables.

Home businesses can often turn expenses and waste materials into profits, too. One person who does is Charlotte Cox of Charlotte's Dress Designs in Cleveland, Texas. Charlotte makes dresses and craft items. Instead of throwing away the leftover fabric or craft items, or stuffing them away in a closet, Charlotte packages the leftovers for resale. She puts them in clear plastic bags, labels them and prices them, then takes them to shows when she displays her craft items.

Moving forward,

Jeff Roach

No comments: