It is important for business owners, especially small business owners to keep an eye on their finances, no matter how big or small.
Larger expenses, such as rent and employee salaries can be a significant burden on small businesses, but all the smaller expenses such as WiFi, phone, office equipment, etc. all add up, too.
Budgeting is vital for any business. Business owners should always be looking for savvy ways to save money as any savings can be put back into the company to invest in other things.
However, you may find that a lot of these smaller expenses are actually costing you a lot more than they should be.
Take your phone bill for example. For some reason, we seem to be married to the “Big Four” (Verizon, AT&T, T-Mobile and Sprint), despite the fact that they are pushing unlimited plans and regular upgrades that most people don’t need, in our faces all the time.
This is a marketing ploy that we fall for time and time again. Why? Because of the lack of competition and lack of consumer awareness in the telecoms industry.
What if I told you that there’s a way to keep the same quality coverage as you would have with one of the “Big Four”, but for a fraction of the price. That’s right, you can save up to $600 a year on your cell phone bill by switching to a Mobile Virtual Network Operator (MVNO).
Six hundred dollars on just one cell phone is a lot to a small business, but some business owners are still apprehensive as they don’t know how to go about switching, so to lend a helping hand I have outlined some questions you should ask when looking for a new cell phone provider:
- Which networks offer coverage in your area?
- Which MVNOs operate on your network?
- How many lines do you need for your business?
- Is unlimited data a necessity?
- Do you need unlimited calls and texts?
- Are you going to keep your phone or buy a new one?
How the “Big Four” Compare to Mobile Virtual Network Operators (MVNOs)
The average US cell phone bill is around $80 a month, meanwhile, across the pond, our UK counterparts are only paying an average $30 a month. How is this possible? The UK has embraced the idea of MVNOs.
MVNOs are smaller carriers that lease service and tower storage from the “Big Four” in bulk and sell it to consumers at a lower monthly cost. You’ve probably heard of a few more popular MVNOs such as US Mobile, Cricket Wireless, and MetroPCS.
So how are they doing this? They have lower overheads, they spend much less on marketing, and they don’t have a lot of brick and mortar stores to operate. In fact, you can sign up for MVNOs online without ever setting foot in a store.
This means switching to an MVNO could potentially save your business thousands of dollars. Imagine what that could mean for your business. To ensure you find the best deal compare cell phone plans from multiple carriers before making a decision.
Benefits of MVNOs
Besides the huge price cut, there are other major benefits of switching to an MVNO.
- The same 4G LTE mobile network you already enjoy
- No contracts or credit checks, most operate as prepaid carriers
- Customized plans, so you only pay for what you actually need
- High customer service ratings
- A simple online sign-up process, just swap SIM cards
- You can keep your existing number and phone
So Where Do You Begin?
If you’re currently with a “Big Four” carrier and want to save money by switching to an MVNO, it will be easier for you to switch to one that is on the same major carrier network. So if you’re with Sprint right now, you’ll want to switch to a Sprint or Verizon MVNO as they are both on the CDMA network (While AT&T & T-Mobile are GSM). If you’d prefer to cross over, you’ll have to get a phone compatible with that network.
What the T-Mobile and Sprint Merger Means for the Telecoms Industry and Cell Phone Prices
The merger of Sprint and T-Mobile into the “New T-Mobile” will undoubtedly affect us all as cell phone users.
The “Big Four” is shrinking down to the “Big Three” and that’s big news for all of us. Why? Because competition among them is good for consumers as it keeps prices low. These two major carriers combining threatens a monopoly in the industry which is not, as they say, consumer-friendly.
However, there are good things that will come out of this merger – such as an increase in research and development- meaning cooler tech coming to you in the near future. It also means they should be getting 5G internet to us much sooner.
The merger will bring bigger and better things to current Sprint and T-Mobile customers. Currently, they both run on different wireless networks (CDMA and GSM), but with the merger, customers will be able to work on both networks.
The CEOs of both T-Mobile and Sprint promise that the “New T-Mobile” will lower their network costs and allow them to offer a cheaper service. But of course we will have to wait and see if their claims add up.
