Tips on How to Grow Your Profits

Small business owners in cafes, coffee shops, sandwich bars and take away food outlets all struggle with the same concept: how to increase their profits and decrease their workload. It might seem like an age old dilemma for which there is no solution, but the truth is there are plenty of techniques you can employ to grow your profits without doing any extra work.

Accountants for coffee shops and the like are experts at dealing with that very thing. They understand the high pressure situation of the hospitality industry and the need for owners to maximise profitability while still being able to compete in the market. However you look at the figures, though, it all comes down to 5 important factors:

1. An effective pricing strategy - if you want to grow your profits, you might have to raise your prices. If you sell a sandwich at $5.00 that costs you $3.00 to make, your gross profit will be $2.00. If you sell 50 sandwiches a week, that earns you $100.00 gross profit. However, if you raised the price of the sandwiches to $6.00, your profit per sandwich would be $3.00, meaning you would only have to sell 34 sandwiches a week to generate the same gross profit. That means more money from less work using fewer ingredients: a winning formula.

Now consider the competition. The coffee shop down the street is selling similar sandwiches for $4.50. Should you reduce your prices to $4.00 to make them more competitive? If you do, remember that each sandwich now brings in only $1.00 gross profit, so you need to sell twice as many just to stay level - and that means twice as much work as well.

2. Lowering direct costs - secure the best deals from your suppliers by leveraging your loyalty and continued support. Stay alert to changing trends, however, and be brave enough to change suppliers if it makes sense to your bottom line.

3. Maximising performance - if something is not working, consider doing without it. Nothing sucks life and profit out of a business quicker than an underperforming product. You may have a fondness for it, or it may be the catalyst that got your business started in the first place; but if it is not making a profit it has to go.

4. Increasing volume - it might be that you have the time and staff available to produce 200 sandwiches a week. Provided they all sell, that could increase your gross profit margin by 400%.

5. Lowering overheads - try to renegotiate leasing terms on your premises and any equipment hired out, perhaps at reduced rates over longer periods. Make sure you are getting the best rates for services such as electricity and water, and discuss ways to reduce the expense with providers. Find out if there might be a more efficient way of using your staff team, and train staff to contribute to the overall running of the business to ensure there is minimum wastage and maximum customer satisfaction.

Accountants for coffee shops and hospitality based businesses can help you seamlessly integrate these kinds of strategies into your business plan. Contact the small business specialists at Nexus Accountants today for more information.

Why Security of Payment Is Important

There are payment disputes in every field however the building and construction industry sees the most as it's one of the largest industries that have plenty of different parties working together to accomplish a single final goal.

Since there are plenty of disputes regarding payments there are also acts to prevent such malpractices and make sure that there are legal solutions to all such problems. Security of payment was recently introduced in order to provide quick financial help to people as well as large companies that were facing payment disputes of any kind.
In the earlier days such disputes took up a lot of time and you had to work really hard in order to win an argument in court, let alone the prices that you had to pay in order to take the particular case to court.
Therefore, with the use of such security of payment procedures you would be able to get rid of any kind of issue and come to a settlement through adjudication.
Therefore, no matter what you work as and where you work you're going to need to have information about these acts as you'd never know when you may need them for your own purpose.

Claiming the cash
Before you can even think of beginning the process of adjudication you would need to file a payment sheet. The two parties are going to be the claimants and respondents. The respondents would have to defend themselves against the claim set forth by the claimant party.
However, in order for any such claim to be taken into consideration it would need to be filed within a stipulated time frame. The time frame needs to be decided between both the parties and this can be a whole different issue in most cases.

Contents of your claim
As already mentioned, the adjudication process can only begin once you've filed your claim and this will pave the way for the rest of the process. What you write in your claim needs to be specific and to the point detailing every aspect of the deal and the problem between the two parties involved.
This process can be really complex and you may need the services of an attorney who specializes in such a field. There are plenty of lawyers who would be able to help you out, but when looking make sure that you pick someone who is good at security of payment claims.

Lets Understand Finance Better With Recruiting Agents

The financial industry is growing at a fast pace. The companies in this industry float many financial instruments in the market. The financial instruments floated by these companies include stocks, shares, bonds, debentures, commercial certificates and many more.

The values of these instruments keep fluctuating from time to time. It is the conventional demand and supply principle that governs the prices of these financial derivatives. At times the market has many buyers, but there is a shortage of stocks. In such a situation the prices of stocks rise. If too many buyers are running after a limited number of shares, the sellers would obviously avail the leverage. Owing to the excess demand, they increase the prices of shares. 

Thus the value of the capital market goes up collectively. On the other hand there are times when the stock market is sluggish. This is known as financial slow down. In this situation the market has less buyers and excess financial instruments. This is a highly unfavorable situation for stock sellers. It takes away the bargaining power of stock sellers. So, automatically the share prices go down.
The above is just one tiny aspect of the financial market. There are many such aspects which govern the money market. If the financial companies wish to flourish, they have to hire highly adept selling agents. Recruiting Agents of database companies have a pool of highly qualified and experienced financial professionals. These agents stay-put with the ongoing trends in the capital and money markets. They are capable managing the finances of organizations.

There is a regulatory body authorized by the government, that governs the financial market. This body has laid down well-defined rules and norms for both capital and money market. The financial companies have to strictly run on these regulations. If any company violates these laws, it has to undergo a financial penalty. For surviving in the financial market, it is essential to know its rules. 

Mutual fund and other financial companies need professionals who are well acquainted with the rules and regulations of the capital market. There are many Recruiting Agents who have a pool of financial experts. These experts not only stay-put with the laws of the financial practices, but also keep track of all the potential changes that take place in the financial vineyard.

Financial Adviser Recruiting agents:-
A financial market is responsive to a number of things. For instance if the country is inflation-stricken, then it has many potential effects on the capital market. High inflation means higher purchasing power. A higher purchasing power in an economy is always a boon to its stock market. People will invest their surplus discretionary income in the share market. So the value of the capital market rises. 

It takes a lot of research and insightful understanding to grasp the pulse of a stock market. Financial Adviser Recruiting agents have a database that has contacts of financial experts, who understand the capital market well.

Owing to these innumerable benefits, these agents are gaining huge scale acceptance among corporate clients all over the world. Anyone willing to hire such an agent, can log on to the web and get in touch with a reliable one.