Every business needs to grow – but you can’t do that without spending money. And if you’re spending your money unwisely or carelessly, your growth will stall or slow. Instead, you should maximize the capital investments you’ve already made.
How to Make the Most of Your Money
Companies like yours that specialize in bottling and distributing water have made big investments in your industrial equipment. You rely on high-quality water coolers to supply your clients with the water they need to keep their businesses going.
But you don’t have time to waste making constant repairs or money to waste on frequent repurchasing of coolers. You need a better solution – one that comes in three parts.
Refurbishing Existing Equipment
If you bought a new cooler every time something small broke, you’d be wasting valuable dollars. Keeping the equipment, you already own running smoothly for the years to come helps you get more value out of that initial investment.
Of course, buying the highest quality equipment you can afford is a big initial capital investment. But repairs and downtime add to your costs quickly, and may even eclipse the gap of your initial savings on a lesser cooler.
With proper and frequent service and refurbishment, you can extend the lifespan and usefulness of your investment in equipment.
Refurbishing your existing inventory can seem like a lot to take on, but it helps you avoid larger problems that become expensive headaches.
Keeping your coolers serviced and working properly regularly means you’re addressing small issues as they come up. That keeps those little problems from becoming big ones down the line and costing you serious money.
Parts to Have On Hand
Successful refurbishments also help prevent expensive service calls from happening, because you’re staying ahead of repairs and issues. Coolers have plenty of parts that experience high levels of wear and tear when they return from the field.
If you have ordered extra parts to have on hand, you can replace these parts immediately and get your equipment back into service. This also means you can save money on freight and shipping since you can do a bulk order and avoid paying for rush shipping.
Waterways recommends you keep the following functional parts on hand to cover any emergency repairs without an interruption in service:
- Drip Trays
- Thermostats
- Childsafe Hot/Cold Thomlinson faucets
- Cup Dispensers/Brackets
- Hot/Cold Control
- Compressor Relay Aesthetic Parts to have on hand:
- POU Lids -No Spill/Ez fill devices
- Faceplates for Waterfall model
- Cabinets
- Bottle Rings
Avoiding disruptions in service for your customers keeps their satisfaction rates high. And satisfied customers are loyal ones.
With some smart bulk ordering, you can keep ahead of any common repairs and get your capital investments – your coolers – back to business and profit sooner. This is even more essential to do in the coronavirus era, where production and shipping can be delayed.
Freight Costs
But refurbishing your equipment isn’t the only way to save and maximize your capital investment. You can also see cost improvements through careful management of freight costs and logistics.
These can be significant costs for your company if they’re not handled with thoughtfulness. What kinds of actions can drive up your freight costs?
Ordering and shipping large coolers individually is an expensive proposition. Instead of ordering them as you need them, planning for the next few months to a year and placing bulk orders can significantly lower freight costs.
Larger orders offer other benefits too. A pallet full of coolers leaves less room for them to move around and break, leaving them whole and more secure.
If you find yourself consistent ordering coolers and other equipment on a one-off or rush basis, look at the ordering trends of the last few years to see why.
- Are you failing to plan for the amount of coolers you need?
- Do you lack a process to look ahead to the next few months to plan your freight orders?
- Or do you typically underestimate the number of coolers you’ll need in a year?
If you can identify any consistent trends, you can place orders on a more regular basis with multiple coolers, saving you money on freight costs and breakage.
Annual Pricing
Another place to save on non-essential costs is to negotiate beneficial annual pricing rates for your recurring costs from your partners. Annual pricing means you can have confidence that you’re getting the best prices on equipment like water coolers all year round.
It also makes the ordering process as effortless as possible. Annual pricing helps you to plan for the year and have an accurate projection of your costs.
Worried annual pricing will make you miss out on valuable promotions? That’s a common concern.
But with the right annual pricing rate like you’ll get with Waterways, you’ll get the same price (or an even better one) than you’ll get by ordering even with our deepest promotions.
Capitalize on Your Partnerships Too
To succeed in business, you can’t do it all alone – you need partners you can rely on. Waterways is that partner for many businesses just like yours. We will help you get the most out of your investment with high-quality equipment.
Contact us today to learn more.