Traveling for business can be exciting, but it’s also another overhead that can eat into your profit margins for a small start-up. If travel is an essential part of the work that you do, you’ll need to look at a few different ways to lower these costs for the sake of your business’ finances. Below are a few tips to help you achieve this if you are starting to worry about your travel expenses.
Red-eye flights take place at undesirable hours, such as late at night or very early hours. Depending on your schedule, they may not always be practical for business travel, but they will undoubtedly be a cheaper option when it comes to paying for flights. If you can manage to travel during these time frames without it interfering with your business plans, this will be a cost-saving trick to try out.
Fly Economy, Not Business Class
If you travel a lot for business, it’s understandable why you might be attracted to the slightly more glamourous and comfortable business class seating on flights. However, the reality is that these are more expensive than the economy. If you’re worried about the cost of traveling for a lot of business purposes, you may want to stick to the cheaper seats until your new company starts gaining more momentum.
Airport Parking Fees
You might find it easier to get a taxi to the airport when you’re traveling, but this isn’t always practical. If you do need to drive your car to the airport for whatever reason, you’ll need to leave it in the secure parking lot until you return. These additional fees can be costly, but using websites such as Parkon.com can help you get better rates than booking directly with the airport.
Hotels can be better if you’re only staying there for a night or two, but for longer business trips, look at renting a private apartment via websites like Airbnb, as this tends to be more cost-effective. You might find hotels that can match these prices or be cheaper, but they will likely be in undesirable locations or not offer the best quality rooms. It’s essential to be comfortable during your work trips so that you can get some rest and stay fresh for your meetings, so always find the best accommodation you can for your budget.
Carry-on Luggage Only
If you are away on business for a week or more, you will likely need more than just carry-on luggage for all of your belongings. However, for stays that will only be 3-5 days, see if you can manage to fit your clothes and other essentials into a carry-on case. This way, you don’t have to pay extra for holding luggage as sometimes this isn’t automatically included in the ticket price (always double-check). Just make sure that you’re sticking within the weight restrictions to avoid additional charges at the airport.
If you travel a lot for your new business but are worried about how these costs affect your start-up’s profit margins, consider the tips above to see where you can save money on your essential trips.