Loans Canada Launches Free Credit Score Portal And Is Recognized As One Of Canada’s Top Growing Companies
Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
Once upon a time, grocery stores were dramatically different. Shoppers stood behind counters as the butcher or baker brought their fares. That method changed in the 1930s, with the onset of supermarkets. It gave shoppers choice, autonomy, and allowed stores to scale up — offering wider variety and larger quantities at a better price. But still, these stores relied on warehouses to store the goods, distributing them to individual supermarkets. Every time the goods exchange hands, it adds to the end cost of the product. Especially during times when money is tight, consumers look for any chance to save, and Costco presents members with this opportunity.
Costco revolutionized the shopping experience with the first shop opening in Seattle in 1983. Cutting out the middlemen, it offered warehouse-to-consumer services on an unprecedented level. It’s a wholesaler, meaning it sells in bulk. It has a proven track record of success in the face of economic uncertainty, with its business actually rising from the fifth to the third most successful retailer in the United States in 2009 (right after the market crash).
This company also has a hand in international shipping, enabling Costco to optimize prices for customers. Now a multinational company, it has 103 locations across Canada. Its warehouse locations vary based on population density, so it is typically easy to find a store nearby in most major cities.
Costco is a membership-based wholesaler that operates out of warehouses, integrating the storage and retail processes. Along with the grocery offerings, most locations also have pharmacies, small-scale restaurants, clothing, and electronics. Thanks to the bulk-focused nature of this company, it offers products at competitive prices. However, it comes with a price by way of membership. In fact, membership fees made up roughly 72 percent of Costco’s operating income in 2016.
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Now, as with any good business model, Costco membership is a two-way street. It profits Costco through the price and members through discounts. When managed properly, it can be a fruitful arrangement for both parties. So long as you opt for the right membership fit, you can optimize your savings.
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There are two categories from which individual consumers may choose. These include:
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Business owners can select from two different membership categories, including:
Yearly Membership Fee | |
Executive Gold Star Member | $120 |
Gold Star Member | $60 |
Executive Business Member | $120 |
Business Member | $60 |
Costco is a widely-favoured retailer for good reason. This company offers a lot of benefits in terms of both safety and convenience. Among the perks of getting a membership with Costco are:
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While there are plenty of things to appreciate about Costco memberships, it isn’t suited to everyone. Deciding whether to invest in a Costco membership is about identifying the downsides and making sure the benefits outweigh them. Some issues with Costco include:
Signing up for a Costco membership is a straightforward process. You can complete the application either online or in person, depending on what’s more convenient for you. If you plan to go in person, you can access the store on the same day. The form is identical whether you do it online or in person. It requests your full name, birth year, residential address, and contact details. You’ll also be prompted to make a Costco.ca account.
If applying online, simply fill out the form and pay for the service. You will receive an email with your membership number. Bring this email along with a government-issued photo ID to the membership counter. There, you can pick up your new Costco membership card. For those who complete the process in person, the same information is required. Simply go to the membership counter and purchase a membership.
Deciding whether or not to get a Costco membership is a matter of cost analysis. Consider all aspects of the price, including transportation and time invested. If Costco is nearby and you have enough mouths to feed, the savings are noticeable. However, if you don’t need the bulk items, you are less likely to actually use the Costco card frequently enough to make it worthwhile.
There’s a certain novelty to having access to Costco and its quality goods; but, unless you’re feeding a family, it’s probably not a good choice. The Costco setup is designed for those moving through large quantities of consumer goods on a regular basis. If this describes you, then you can get a lot out of your Costco membership.
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Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
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