In this series, we’re discussing how to inflation proof your business.
A friend owns a chain of restaurants. He was concerned when he discovered that people were selling large quantities of ketchup packets on eBay. He realized a shortage of ketchup and increased prices were coming.
He called his suppliers and asked for all the ketchup they could find. He locked in a much better price and supply than his peers in the industry.
1 Peter 5:8 says, “Be alert and of sober mind. Your enemy the devil prowls around like a roaring lion looking for someone to devour.”
Outside of wages, each industry has specific expenses that inflation can significantly impact if not monitored closely. During inflationary times, be alert to opportunities to proactively manage your key expenses.
