As a small creative business owner here in Canada, you know the importance of every dollar spent. Whether you’re an artist, designer, or consultant, managing your finances effectively while making intelligent purchasing decisions can significantly impact your bottom line. One effective strategy involves utilizing retailers that offer membership programs, such as Amazon and Costco. In this blog, we’ll explore how to leverage these memberships to benefit your business, maximize savings, and even have your expenses covered by your company.
Why Memberships Matter
Memberships can provide small businesses with access to exclusive deals, bulk purchasing options, and overall savings that non-members should take advantage of. By becoming a member at retailers like Costco, you can stock up on essential supplies at discounted rates. Likewise, an Amazon Business account not only offers competitive pricing but also allows for seamless purchasing and inventory management.
Finding the Right Membership for Your Business
1. Costco Membership:
– Benefits: Costco provides a wide range of products that every creative business might need, from office supplies to bulk snack purchasing for extended work days. Their membership also grants access to special savings and discounts on business services like printing and insurance.
Tip: Think ahead about the items you purchase regularly—think paper, ink, or technology. By buying in bulk, you can save significantly over time. Have your business cover the membership fee as part of your operating expenses, which can be a smart move to ensure your savings add up.
2. Amazon Business Account:
Benefits: Amazon’s Business platform offers bulk discounts, business-only pricing, and the convenience of online shopping. Additionally, it allows users to set up multi-user accounts and manage purchasing workflows.
– Tip: Subscribing to items you frequently purchase, like art supplies or office necessities, can lead to more savings through regular discounts. Consider choosing a payment method that blends personal and business accounts, enabling you to keep track of each expense while benefiting from the perks of membership.
3. Other Memberships:
Consider Local Options: Explore membership options at local co-ops or community businesses, which may offer discounts on essential services. Joining a creative business network could also provide opportunities for savings on workshops and materials.
– Industry-Specific Programs: Research organizations in your field that offer membership discounts for supplies, software, or services you use regularly.
Making Your Membership Pay Off
To ensure that your business benefits from any membership, it is crucial to create a strategy:
- Budget for Memberships: Treat memberships as part of your business expenses. Create a clear budget that includes these fees, and track your savings to confirm that they outweigh the costs.
- Monetary Returns: Regularly evaluate your purchases to determine if your membership saves money. Some members discover they save enough to cover membership fees multiple times over simply by shopping more strategically.
- Have the Business Cover Your Membership: This is key! Ensure that the membership is purchased through your business, allowing it to be deducted as a business expense. This applies to any professional development memberships you consider, cementing your membership as a worthwhile investment.
Smart shopping through memberships is an excellent way for small creative businesses to save money and increase efficiency. By leveraging stores like Costco and Amazon, you can alleviate the burden of expenses on your creative ventures and focus more on what you love—creating. Remember to plan, purchase strategically, and keep track of your savings. The goal is to ensure your business thrives while you keep your finances in check. Happy shopping!