Tip 1:
It may seem very basic but with the level of wholesale price volatility we are experiencing currently, it is VITAL that each delivery docket or paperwork advising wholesale or unit prices contains the cost price therein, and that you satisfy yourself that the retail price you charge is based on this wholesale price.
Tip 2:
There are very significant variations in wholesale prices for packaging and consumables from suppliers within the country. While making sure the cost price of the items you sell is correctly actioned, you also need to systematically check the costs of your expense items, paying particular (but not exclusive) attention to gloves, towels, paper, and plastic products. We have seen members continuing to pay up to 50% more for such expense items. Do yourself a favour, interrogate your costs and don’t be afraid to switch suppliers if you are being fleeced.