Incentives: Making the Most of High Gas Prices

Leave it to American business to take a problem, such as the high gasoline prices that plague drivers today, and turn it into an opportunity. By turning gasoline into a purchase incentive for cars and hotel stays, these businesses are showing that even in bleak economic times, there are ways to do well by doing good for their customers.   Automotive Incentives Concerned that high gasoline prices will translate into lower automobile sales, both Suzuki and Chrysler, as well as private dealers around the country, are offering gasoline as an incentive to bring customers through the door.   Suzuki and Chrysler: Examples from the Manufacturers Since 2006, Suzuki has been offering either a $25 or a $50 gas card to customers who test drive their vehicles. This year, they have a promotion running through June 30th that gives a VISA debit card with $320 to $470 on it (depending on the model) for buyers of new 2008 and... [Read Full Article]


Helping with the Gas Crisis: What You Can Do for Your Employees

The national average price for regular gas is nearly at $4 a gallon and we are all feeling the pinch. Your customers are driving less, spending more of their money on gasoline and less on other products. Your suppliers are charging more to cover the cost of transportation and those costs are likely being passed on to your own customers. If you have a delivery arm to your business, you have probably had to raise the price on that as well to cover the increases. However, have you considered the expenses of your own employees? How much does it cost for them to go to and from work each day or, more to the point, what percentage of their income must now be devoted to commuting and what can you, as an employer, do to ease the pain caused by ever-increasing fuel prices? The Four-Day Work Week Consider the employee who makes $500 per week and who has been with your company since gasoline was at $2 per gallon. Assuming an 18-gallon gas tank, when they were hired the price of gett... [Read Full Article]


Money Saving Tips for Hitting the Road

In addition to small business owners that may have a small fleet of company vehicles, vacationers will soon feel the crunch at the gas pump this Memorial Day weekend. Nationwide, 37.8 million people are expected to travel, according to AAA Auto Club. Here are some tips to help improve your gas mileage and put some money back in your wallet:   Don’t let your car idle. Each year Americans burn 2.9 million gallons of gas a year overall while idling.   Change your air filter and fuel filter. You can increase gas mileage by up to 10 percent just by having a clean air filter, according to the EPA’s FuelEconomy.com.   Make sure you keep your car properly maintained and tuned. You could be using 25 percent more gas if you don’t.   Keep your tires properly inflated. You can improve your gas mileage by around 3.3 percent just by making sure your tires are inflated to the proper pressure, according to DOE Keep excess weig... [Read Full Article]


Gas Prices and Online Shopping: There is a Connection

If you have a brick and mortar establishment, you probably think that you have a good grasp of the various costs of doing business including your fixed costs, payroll, inventory and transportation in terms of receiving goods and shipping them out again. However, have you considered another facet of your product delivery scheme that can have a very real and very direct effect on your sales, the transportation costs incurred by your customers? Think about it: As the price of fuel rises, customers are less interested in getting into the car and driving out to your establishment. What Goes Into Fuel Prices and What are the Consequences? Fuel prices are more than just the price of gas at the pump. There are a large number of things that go into the price per gallon that you have to pay (all figures are approximate): Crude oil prices: 53% Refinery processes: 19% Federal, state and local taxes and fees: 19%    ... [Read Full Article]