Constant traveling is an inevitable part of most businesses. Meetings with companies from other countries are highly important in order to expand and improve your business. While in the beginning, it is all good, when travels become frequent, you understand how much money you spend.
Normally, to achieve great results you have to invest in that. However, that does not mean you have to spend a fortune, especially when there are plenty of mechanisms to reduce your business travel expenses.
In this article, we’ll talk about making business travel more affordable by cutting certain expenses. That way, you will learn how to manage your business better, and accomplish the same results with less financing. For more information, keep reading.
1. Determine your budget
The first thing you have to do before your departure is to determine the budget needed for this trip. For that reason, find out how the prices are going depending on the distance of the city, accommodation costs and more.
Without setting up a budget, you are more likely to spend more than needed. Get to calculating, and create a tight but efficient fund to make yourself or the person traveling feel comfortable, while saving the most you can.
2. Get flight ticket on time
Usually, the biggest factor of the travel’s expensiveness is the ticket of the flight. If you are meeting in a neighboring country, consider an alternative traveling method like a car for example. However, if the country is far from yours, the flight is the most efficient option.
Since the meeting is usually determined with time, be sure you purchase the flight ticket on time. As much as you wait, the prices are going up and you’ll be spending more than needed. However, be sure not to be too early as well. The best time to purchase the tickets is around four weeks prior to the trip.
3. Be constantly informed about cheap tickets
Time is surely the most valuable thing for you as a business owner. For that reason, wasting yours looking manually for tickets and stays is something you want to avoid. Luckily, various applications gather data from all platforms that offer flights and stays and are filtering the cheapest options. Just insert the city you plan on going, to and wait for the information to pop.
Staying out of expensive companies is also a good idea, for that reason, browsing through the cheaper airlines can be beneficial. In addition, a good thing to consider is flying out of business class for close relations. Although that ruins the comfort, if the flight is not longer than two or three hours, the economy package could be a better choice.
4. Do not rent cars
After safely arriving in the city, the next thing that has to be determined is the transportation method inside the city. Renting a car can be one of the expenses that can be avoided since you are paying for a car you are not constantly using. Paying fully for a short trip is just not economically justified.
Taxis on the other hand can be too expensive, especially if you are a foreigner since they can circle you around the streets to take more out of you. In case you know the city well, consider public transportation as your main method.
According to Torontolimorentals.com, hiring a Toronto Limo service can be a great way to represent your company in the best light. The others will see how much you care, and you have better chances to secure a deal. In addition, it is more affordable than the other options since you are paying only for the trip, and have a driver that can navigate through the city easily.
5. Analyze spending’s
If you think you are spending too much on traveling, be sure to analyze the spending. For that reason, be sure to come up with a policy of specific details about what the person who went to the meeting spent on. If you notice some unfounded spending, you can talk so that it does not recur in the future.
That can help in managing your future trips better, while simultaneously saving your finances and making the trip more comfortable.
In addition, you can consider promoting policies where if the person spends less than planned, they can be rewarded with a certain sum. That will make your business trips significantly more affordable, while the person can be satisfied with a prize for themselves.
6. Do not spend too much in the hotel
When booking stays for the person presenting your firm, it does not mean that you have to get a luxurious room. Bear in mind that this is a business trip, not a luxurious and relaxing vacation. For that reason, be sure to get regular clean rooms that do not cost additionally because of certain unneeded features.
In addition, you should be clear that the person should not use the bar in the room. These things cost a lot more than they should, so if they crave something sweet or they need a drink, have them visit the near supermarket.
Lastly, the hotel options like saunas and massages do not usually come with the room by default. For that reason, let the person know that if they want to use such a service, the firm does not cover it.
7. Consider alternative stay options
Sometimes, it might be a better idea to consider alternative stay options. Instead of looking for hotels, that can be tight and obstructive, going for Airbnb stays might be a better option. Especially for longer stays, the person can have freedom in larger working spaces, as well as a kitchen where they can prepare their food.
Apartments usually offer a better traveling experience, so they might feel the culture better while staying in a certain city. In addition, you can book a far more luxurious place for fewer costs than a hotel room. This will make the person more comfortable, and will surely improve their experience.
Although we mentioned a couple of ways to reduce your business travel costs, there are still many more things to consider. However, it is best to make a meeting and discuss these things with your employees. Learn what is comfortable for them, that can contribute to the cost-reducing process, and implement it right away.