When many companies order promotional gifts they may not realize the actual cost of the items that they are ordering. This can mean that when they place their order and the final costs are calculated they may end up going over the budget that they had set. Here are some tips that you can use so that you can figure out the actual cost of the items that you are purchasing in order to avoid making the same mistake yourself.
You can either figure out the entire cost of the order or you can choose to figure out what the cost per unit will be and calculate whether that particular item will fit in with the budget that you have set.
Here is what you need to consider:
The cost per unit
The first thing to consider is the cost per unit.
This is what each item you order will cost.
This can either be fixed or flexible. Companies that offer wholesale
products may have flexible per unit costs for their items.
If this is the case you need to figure out how many items you
are ordering and multiply the cost per unit by the number of units you are ordering.
In order to promote your company properly your promotional
gifts need to have your company’s name and contact information placed on them.
This can be done a number of different ways.
Some gifts may be engraved and others may be embroidered or
have information printed on them. This often can be done for an additional cost.
You need to factor this in when determining how much your order will cost.
You need to find out whether a company charges per unit for personalization
or whether the cost is for the entire order.
That way you will know how to calculate this cost into your order cost.
Next, the company that is supplying your promotional gifts
will have to get them to you. There are usually fees that will be added
on to your order when it is shipped to you.
Some companies may offer free shipping if your order is over a
certain amount or there may be additional charges if the items
need to be shipped much farther than normal. These can really
add up so you need to pay close attention to these costs
when determining what the total cost of your order will be.
Additional costs or charges
There may also be additional costs or charges that may be added to your order.
They may include charges for orders that are less than a certain amount.
Like shipping costs they can also add up quite quickly and may turn
an order that was affordable into something that can break your budget wide open.
Taking the time to figure out what all of the costs are and how they
can add up may be just what you need in order to control your costs.
This way you may still be able to give out the kinds of gifts you want
but it may mean that you need to change your order a little or
switch suppliers so that your order costs less than your
maximum limits will allow you to spend.