The cold winter air is coming. Will you complain about it, or use it to reduce your electric costs?
For supermarkets and convenience stores, utility costs have become a major focus in reducing expenses. After labor costs, utilities are generally the greatest expense for convenience and grocery stores. Many store owners are turning to “green” solutions not only to save the planet, but to also save money.
Price Chopper was recently awarded the EPA Green Chill Silver Level Certification for their Warwick, NY store. Their Colonie, NY store was named “Best Green Chill Certified Store”. “Green Chill” recognizes stores that reduce refrigerant charge by 50% and refrigerant emissions by 75%.
Kroger has reduced their overall energy consumption by over 27% since 2000. Part of this was accomplished through their use of LED lighting.
But it is not only the large chains that see the economic advantage to reducing energy costs. In my work with various stores throughout Vermont, Massachusetts, and New Hampshire, I have seen many smaller store owners incorporate green technology into their businesses.
For several years, the Champlain Farms family of store have used outside cold air to keep their beverages cold. Their fresh air exchange system pulls cold air from outside rather than using compressors during much of the winter season. According to the owner, this system has already paid for itself and is now saving them money beyond their original investment.
CenterPoint Business Advisors assists business owners with understanding and growing the value of their business. We have done this for numerous grocery and convenience stores. A key method of increasing the value of your business is to make permanent expense reductions that will result in a higher profit. As energy costs continue to rise, reducing your usage becomes a long term value builder for your business.
CenterPoint is also providing consultation to Freeaire Refrigeration in Waitsfield, Vermont. This company is a leader in designing and manufacturing the controls and systems that allow the use of cold, purified, outside air to maintain a constant and reliable temperature inside commercial walk-in coolers. With the compressor system sometimes not running for months at a time, the FreeaireTM system can save you as much as 50% on your refrigeration energy costs. It’s also eligible for large rebates from your utility company that accelerate the payback period. You can learn more about how they can reduce your long term operating costs at: www.freeaire.com
I encourage you to contact Freeaire today, or one of the many other companies that offer products that can help you reduce your energy costs and increase the value of your business.
CenterPoint Business Advisors is sending you this information with the intent of helping you to better operate your retail food store business. CenterPoint assists business owners build the value of their business, plan for an exit from their business, value their business, and broker the sale of their business. Please contact us if you are considering a long or short term exit from your business.