When travelling is involved with any business, expenses can go through the roof. For the sake of success, several business are willing to put more of their budget towards travel than any other expense that they may have. Whether it’s to seek out and obtain new business or simply to keep current clients happy, travel becomes a way of life for the survival of many businesses. In order to keep these costs low, many businesses look for alternatives to what they’re currently doing.
Here are several ways that your business can cut its travel costs.
While the cost of a private jet might initially seem like something that’s hard to swallow, the cost of flying with regular commercial airlines over several years can slowly take its toll on your finances and could lead to the slow death of your business. Private jets are not only a more affordable way to fly over time, but should be considered an investment. If you didn't want to pay for jet ownership, you may still be able to fly private for a lower cost than you thought, particularly if you have used jet card comparison websites and found a good program to sign up to. You could do this for several years and, even if you outgrow your use for it eventually, you won't then have to worry about selling the jet on when it’s time to move on to something bigger and better.
Paying for each individual employee to get to a location could be more expensive than booking altogether. Several sites offer options that allow you to purchase a package deal, which could end up taking about 30% off of the total cost of things like hotel rooms. Take the time to plan ahead rather than booking last minute trips when possible, and you’ll find your business taking more advantage of this than you’d ever expect.
Rather than shelling out hundreds of dollars for rides around the downtown area of your city, consider luxury rentals or even leases to help you save possibly hundreds of thousands of dollars per year. There’s nothing wrong with driving your own vehicle, and you’ll still get there just as fast. In most cases, you can generally transport yourself or your team for about ¼ the cost of using limousines as your mode of transportation.
One of the biggest falters that several businesses have when it comes to managing their expenses is that they fail to take advantage of the rewards that are available to them. Most travel companies will offer opportunities to save as much as 50% off of the general cost that would be applied to consumers. Imagine these reward programs as a form of wholesale purchasing over a longer period of time. These savings won’t take effect immediately, but if you’re planning on travelling a lot for your business, you could end up putting a good amount of your costs back in your pocket.
While you should travel in style and comfort when possible, it’s important to take a step back and look at the health and success of your bottom line. If you find that your business is suffering some from the high costs that come with travel, you should reconsider some of the options that you have to save.