Archive for Retail Business

The holidays are a great time for families…and businesses. Retail stores see an increase in profits throughout the seasonal shopping madness. The promotions and sales peak consumers’ interests, while the display entices people to walk in and spend money adding to your necessary cash flow. Experts agree to bring up sales, your display needs to ooze holiday savings. Here is a guideline to follow ensuring your marketing visuals in the store are appealing enough to achieve effective results.

Create a Focal Point

Every retail store window has a focal point. This can vary depending on your products. If you specialize in shoes then highlight winter boots for sale in the window. The idea is to make a consumer’s eyes go straight to the specials, and the merchandise you want moved out of the store during the holiday rush.

Use lights and signage to reel the client in. Think of what makes you stop and look when walking by a store window. Adapt these same techniques to your store.

Produce Signage Promoting Bonus Gifts

The holidays are the time for small businesses to outshine large department stores. Provide bonus gifts with the purchase of something from your boutique making you stand out.

The bonus gifts could also be in the form of buy 2 get 1 free or spend $50 and get $10 off entire purchase. Consider what tactic to use prior to creating your storefront. Then stage it accordingly. It is a great way to get people to enter, browse and buy from you.

No matter what holiday promotion, sales or deals you advertise, your small business needs the funds to execute it properly. Talk to our small business loan expert today!

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Feb
03

Ways to Reduce Employee Theft

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Unfortunately, during a recession, employee theft increases in various small businesses.  Employees become desperate and make the wrong decisions.   Therefore, as a small business owner you need to be prepared and prevent employee theft from occurring in your store.  Here are a few things to look out for ensuring you do not lose money due to criminal activity.

Watch Your Receipts

Have you noticed more sale voids with specific employees who are not in training mode?  Do their average voids exceed the norm of other employee shifts?  You need to pay attention for employees may be using voids as a way to keep your money.  For instance, if a customer pays $10.00 for a specific item and the sale is void.  Then the same customer is charged $8.00 for the exact purchase, your employee may be pocketing the difference.   Just be aware of the receipt situation and make sure no one is using receipts as a method to steal money from you.

Count the Register

Some employees that attempt theft will pocket petty cash or change.  They may choose to do so a little at a time thinking it will not be a noticeable amount.  However, every penny makes a difference.  It takes away from your financing and operating costs.  Hence, you need to accurately count register cash prior and after shifts.

The most important thing is to remember not to jump to any conclusions.  The majority of employees are honest, dependable, and trustworthy people.  Otherwise, you would not have hired them in the first place.  It is solely smart to take notice of what is occurring during daily business activities.  It will save you money and provide you with peace of mind in the end.

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customer-serviceNo matter what business field you are in the key to success is through providing excellent customer service through your small business.  However, it is surprising how many businesses drop the ball when it comes to excelling at it.  Many corporations tend to forget the basics.  During these rough economic times, you cannot afford to lose any customers, new or old.  Therefore, you must keep these simple customer service rules into play while communicating with consumers ensuring your client base returns, repeatedly.

Communication is essential towards building customer relations.  It keeps your clients informed the entire way through.  Do not wait for a customer to connect with you before sending out communication. The communication may be about sales specials, newsletters regarding events occurring, status of products bought by the consumer and customer feedback surveys.  As long as you are communicating with customers then he/she never forgets your presence.  With today’s technology, this is the easiest of customer relation tasks to achieve.  For there are cell phone apps, emails, Facebook, Twitter, and other social media marketing tactics available.

Along the same lines as communication, do not lie to a patron.  Do not tell a buyer that the item ordered has been shipped when it is clearly still sitting in the warehouse.  A client trusts a business that tells the truth and admits to making a mistake rather than a company trying to hide and cover up blunders.

Furthermore, listen to your customers.  If your customer needs assistance resolving a specific issue, resolve it.  If your customer orders something different from what is received, fix it.  Pay attention to a customer’s words and cater to him/her accordingly.

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