Daylight Savings: How much is it costing your small business?
December 28, 2010 § Leave a comment
Like most people I have no issues with clock change when we ‘fall back’ but I always seem to really need that extra hour when we ‘spring forward’. And like most people the point is still lost to me (I hear farmers are the ones who really need it). Anyway, one thing I do know is that those additional hours of darkness when we ‘fall back’ have an impact on most businesses that never gets the mention its due. Without extending your hours of operation (in the 3-4 months of a later dawn and an earlier dusk) daylight savings can lead to as much as $3000 in increased expenses!.
I’ll use the example of one of customers who uses an additional 210kwh during daylight saving periods. At 6.2c/kwh for the 240 additional hours of having the lights on, the addition to their bill is a whopping $3,124. An increased expense without increasing revenue/profitability is not a good thing for any business! And that money could easily be an additional employee for the holiday shopping period where your store location needs to keep customer service high and shoppers shopping!
One way to reduce this expense is to use less electricity over the period. Where you cannot reduce your electricity usage take the few minutes to search and compare rates from several suppliers to reduce the expense on www.Power2Switch.com. But you can definitely reduce your energy usage, all it takes is a little effort.
What effect does daylight savings have on your business?
Enjoy the holiday season!
Image courtesy of hometestingblog.com