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Jun 13, 2022
2 min read
Last update: Mar 26, 2023

Don’t Let Soaring Gas Prices Hold Your Business Back

With gas prices soaring to record highs, small businesses are feeling the pain at the pump. Businesses that rely heavily on driving such as florists, construction, truckers, restaurants who deliver, landscapers, and repair services (plus all of you soccer moms out there!) are among those who are being hit the hardest.

So how can small businesses cope with rising gas prices (without having to sell their soul or firstborn child)? Try these 5 strategies:

Download a Gas App

Gas apps can help drivers find the cheapest gas prices while on the road. Users simply type in their location or enable location services to get the most updated prices at gas stations in their area. A few of the most popular gas apps are:

  • Gas Buddy
  • Gas Guru
  • AAA TripTiks Travel Planner
  • Waze
  • MapQuest

Make Every Trip Count

More efficient route planning can save your business a pretty penny. A few ways to make every trip count:

  • group errands and deliveries together to reduce travel
  • plan your driving trips for off hours to avoid sitting in rush hour traffic
  • optimize your trip by making sure to choose the most gas-friendly route that your GPS suggests, not just the fastest route (for example: a route that includes the most highway driving, but might be 2 minutes slower)
  • unload unnecessary cargo as soon as you’re done with it to keep your vehicle as light as possible to improve gas mileage

Get Creative to Avoid Driving

Sometimes all it takes is a little creativity to improve efficiency and save money. With gas prices this high, try to think of ways to help your business cut back on driving. A few ideas are:

  • offering a discount to customers for picking up their orders
  • having supplies delivered to your office instead of driving to get them
  • holding meetings via Zoom instead on in-person
  • doing your errands virtually (such as banking online and skipping a trip to the post office by printing your postage yourself)

Cut Back or Restructure Your Geographical Service Area

In order to continue to service areas that are farther away, you may want to make some changes such as:

  • temporarily limiting the area that you serve to within a certain radius of your office
  • adding a fuel surcharge for jobs outside of your business’s zip code or county
  • implementing tiered delivery pricing based on distance

Adopt Simple Fuel-Efficient Driving Tips

Making a few small changes to your driving habits and staying up to date on vehicle maintenance can help your company save significantly at the pump. Here are a few ways to improve your fuel economy:

  • make sure tires are properly inflated
  • use cruise control on highways
  • accelerate and brake slowly and steadily
  • get regular oil changes
  • avoid extended idling
  • keep air filters clean

You’re on the Road to Success with SBG Funding!

Don’t let high gas prices hold your business back from reaching its full potential. SBG Funding has flexible financing options to help fuel your growth. Apply today so you can hit the road tomorrow!

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Great stuff!

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If you can’t hang on then give us a call at (844) 284-2725 or complete your working capital application here.

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