The small consumables a business uses on a daily basis can quickly eat into profits and increase operating costs. Solopreneurs can learn a lot from avid couponers and stock up on supplies while they are discounted, saving hundreds or even thousands of dollars a year. For some smaller operations, getting items for less can mean the difference between profit and loss.Â
According to the United States Small Business Administration, around 50% of companies survive five or more years. The reasons for “failure” vary and the government also includes businesses closed for reasons other than bankruptcy, such as those who decide they aren’t earning enough or have lost interest in the endeavor.Â
While saving a few bucks here and there might not seem like it would make the difference in your company’s survival rate, you’ll also develop good habits for trimming the fat that will keep your business afloat during lean times. Here are some of the types of consumables you should stock up on when they’re on sale.Â
1. Toilet Paper
Some solopreneurs rent office space and others run their operation out of a spare room. No matter where you conduct your business, you’ll need at least a few bathroom breaks. If you’re working out of your home, this means more paper products consumed throughout the day.
If you’re lucky enough to have a dedicated space with bathroom facilities, you can deduct the cost of paper supplies as a business expense. Even if you can’t deduct the cost, you can save a lot by stocking up when items are on sale. Another option includes buying in bulk from a warehouse club or office supply store. You’ll save a few cents on every roll.Â
2. Printer Cartridges
For brands printing a lot of marketing material, estimates and invoices, the cost of toner is one of the biggest expenses for their company. Printer cartridges offer an option to save quite a bit of money for most solopreneurs.Â
Look at bulk cost versus buying one cartridge at a time. If you use just one cartridge a month and save a few dollars, you’ve saved around $48 per year on this one item. If you use more than that, your savings increases exponentially.Â
Consider the price difference between new and remanufactured cartridges. However, be cautious about refilling ink as you could damage your equipment and wind up paying more for repairs or a new machine than you’ve saved.Â
3. Cleaning Supplies
Hopefully you keep your workspace clean and dust free. The cost of cleaning supplies adds up when you spend 40 plus hours a week in a space. Look for coupons and sales and stock up to cover your needs for the year.Â
Don’t forget lesser thought of items such as replacement bags for your vacuum cleaner, dusting rags and electronic equipment sprays. Special cleaners often run more, so saving money on them adds up.Â
4. Paper
Do you print out items for your business? Buying your paper in bulk not only ensures you always have what you need on hand, but it saves big bucks.Â
Smaller brands can buy a case of paper from stores such as Office Depot and Staples. You’ll save on each ream and also earn points toward future purchases.Â
If you go through a lot of paper, you can order in bulk online or through office supply companies. Figure out how much paper you use each week and multiply it by 50. There will be days when you aren’t in the office or have a holiday, so going with a 50-week model should be a good estimate of what you need.Â
5. Pens
Every type of business needs pens to jot down notes or hand out as promotional items. You can make your office supplies in this category do dual duty by ordering branded ones and using them for your own needs.Â
According to Cost Owl, the cost of promotional pens starts around 10 cents per piece and goes up. You get what you pay for, so if you plan on handing them out, you may want to up your budget slightly and go for slightly higher quality.
6. Post-Its
Sticky notes are a great way to leave yourself comments on what needs done, special needs for a customer or motivational thoughts. The average solopreneur may be surrounded with Post-It notes and go through a pad or more per day.
You have a couple of options to stock up on sticky note pads. You can buy off-brand ones that cost less. You can also buy the brand ones and buy more at one time. A huge container of Post-Its is much less expensive than buying a single pad. You can also find them on sale around back-to-school and stock up for the coming year.Â
Additional Money-Saving Tips
Pay attention to the loss leaders different stores offer. If you can save a dollar or more on an item, stock up for the year. Use coupons where you can, including digital downloads you save to a customer loyalty card.
If you don’t need as much of an item as you have to order in bulk, talk to like-minded solopreneurs and see if they’d like to split the cost and the product. You may be able to both save money and get what you need without having to stock up quite as much as you feared you would.
Look for creative solutions to buy for both your household and business without mixing expenses. You’ll need to keep careful receipts and sell items to yourself or your business to ensure everything is on the up and up in case you’re audited. It’s best not to mix money if at all possible.Â
Eleanor is editor of Designerly Magazine. Eleanor was the creative director and occasional blog writer at a prominent digital marketing agency before becoming her own boss in 2018. She lives in Philadelphia with her husband and dog, Bear.
