3 Ways LED Lights Can Improve Business Profitability

Most business owners are looking for ways to help them minimize costs while increasing revenue to maximize profits. The truth is, there are obvious strategies that businesses may adopt, such as selling more products and services through sales drives. Business owners can reduce some business resources, such as tools and personnel. However, there are other methods that can be used to increase business profits without having to cut costs that may hinder business performance. This can be achieved by applying the lighting strategies necessary to make a direct impact on business operating costs and revenues. Here are the top three ways LED lighting can be used to improve business profits

1. Energy savings significantly reduce business overhead costs

Most businesses typically have too many operating costs. Some operating costs in your business can end up taking up a large portion of your business revenue and profits. The power consumed by lighting and electronics is one of the major overhead costs that most businesses typically have little or no control over. However, because businesses have retrofitted their premises with energy efficient LED lights, they will benefit from reduced maintenance costs as well as up to 80% of their annual energy consumption costs.

In addition to the above, most businesses are now taking advantage of their state subsidies. By doing so, they will gain more profit and more savings. 2.

 

2. Improved lighting increases employee productivity

By improving the lighting in employees' work areas, their morale, happiness and motivation will also be improved. If the quality of lighting in the work area is improved, workers will respond positively to change by increasing productivity. Another factor you should consider is how your commercial lighting will affect the health of your employees. Dim or flickering lights can cause health problems for your employees, such as fatigue, eye strain and accidents. These effects can lead to injuries. The average expense for an ill employee is typically $304 per day. Assuming the average employee takes 8 days of sick leave a year, the equivalent cost to your business is $2,432.

 

3. Improvements in customer activity

Some business owners often wonder why they are struggling. The problem is that they don't realize the quality of their business lighting and what it means to their customers. This is because insufficient light makes it difficult for customers to see or evaluate products. Insufficient light in your place of business can also reduce their comfort level.

 

To learn more about how LED lighting can improve the profitability of your business, simply contact the NAIPS team at any time.