One of the largest expenses in retail or business is labor costs. These can add up quickly, often leading to increasing costs over time. Looking for ways to reduce labor costs can help reduce any added strain on your business’s bottom line. Labor costs, which should only be around 20-35% of a [...]
The retail world is constantly evolving to include more shopping opportunities for consumers. However, this unfortunately means that there are more opportunities for retail loss. Retail loss prevention is imperative for any store to implement to keep their inventory safe. In 2022, 81% of U.S. retail stores reported that their shrinkage increased. [...]
Running a convenience store can be a lucrative and fulfilling business, but it's important to be aware of the ongoing operating expenses that come with it. By understanding these types of ongoing expenses upfront, you can plan accordingly and potentially save your money. If you’re seriously thinking about how to [...]
Robberies in the U.S. increased by 19% from 2021 to 2022 according to the Council on Criminal Justice (CCJ). Late hours and large amounts of cash on hand make convenience stores especially high risk for crime, so it’s no wonder that convenience store owners and managers are focused on store security. [...]
Cash management optimization is necessary for the business to grow and succeed. Check out these tips and strategies to optimize business cash flow.
A cash-only business can still be successful and profitable even when people are switching to digital payment methods.
Cash is handled every day in restaurants from servers to bussers to management. Smart policies and procedures for cash management are essential to successfully running a restaurant.
From store layout to cash management procedures, there are many factors to consider when implementing smart retail store operations.