For a business to profit, its income must exceed its operating expenses. Such things as rent, electric and water consumption, fuel, and gas fall under operating expenses. If your business is a freight or delivery service, then you can further maximize your profits by downsizing on your fuel costs.
But how can this be done? By giving your drivers special gas cards, it can help your business to gain a little more profit and move on from just barely surviving to earning considerably. No matter how big or small you business is, it is directly affected by the rising cost of gas. By keeping a tab on how much you spend on gas you can monitor your business fairly well.
An increasing cost in gas consumption can mean a decreasing mileage of one of your vehicles. This is a sign of a vehicle in need of a repair, or of an employee that is doing more than what he is paid for. This could also be a sign of increasing gas prices. To remedy the latter, gas cards that offer rewards are a big solution to help you cope with the continuous increase in the prices of oil. Every time you use the card, you earn points with which you can reduce the costs of refueling.
Also, the prices of oil fluctuate greatly from area to area; your drivers may sometimes not have enough cash on hand. But with the gas card, he is always ready to refill no matter where he fuels up. It is also easier to plan its pre-destined route based on the gas stations compatible with your card.
By designating one gas card per driver, it can also aid you in monitoring how much a particular driver has spent on gas. If a driver’s expenditure on gas is peculiarly too high, then it might be time to inspect the vehicle for possible problems, or to investigate the employee for possible fraudulent activity. A business will eventually rack up points thru the course of a year, and because of these credits, you will be able to get rewards such as gas rebates, discounts and the like.
Also, you can monitor the gas consumption your business as a whole because of the individual receipts that are issued when using gas credit cards. By adding up your gas bills for this month, and comparing it to last month’s, you can get a rough estimate if your business is doing well or just barely.
Also a lot of gas companies offer loyalty programs which is similar to the reward program that other cards offer. Gas companies earn more if they have consistent customers; therefore, they would do any means to get you to refill at their stations.
With all of these benefits, it is easy to see that gas cards can help your business in more ways than one. From maintaining records to getting cheaper gas, all of these will affect your business positively.
See: Gas cards