The POS Software Blog

The POS Software Blog

News from Tower Systems about locally made POS software for specialty local retailers.

Categoryretail efficiency

LayBy opportunity for local small business retailers as the federal government is set to regulate buy now pay later

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With the federal government set to announce today plans to regulate buy now pay later (BNPL) products under the Credit Act, it could be timely for local independent retailers to pitch LayBy.

The use of LayBy dropped away as BNPL like Afterpay, Zip and others offered shoppers easy access to finance for immediate purchases. While BNPL is used for many products outside the scope of LayBy, I expect the use of LayBy to increase once the BNPL regulations are in place.

While the ACCC defines the LayBy arrangement, LayBy is regulated at the state / territory level. In Victoria, for example, the regulations cover the contract, cancellation, price chan get and more. The level of regulation varies between the states / territories.

In physical stores, the use of BNPL varies by retail channel, but it is a popular payment method, but often expensive to the retailer. Whereas credit card payments today typically cost retailers less than 1%, BNPL payment can cost as much as 6%. The benefit to the retailer is that there is no risk should the shopper default.

The anticipated BNPL regulatory changes give local retailers the opportunity to re-pitch LayBy. But first, we need to ensure our processes are fit for purpose, smooth, understandable, appealing to shoppers and economically viable for us. This is where retail management software like that from us here at Tower Systems comes into play.

Our POS software offers easy and consistent:

  • Structuring of terms and conditions.
  • Managing the appropriate deposit.
  • Setting of different expiry terms for a LayBy based on the products in the LayBy.
  • Tracking payments made by customers.
  • Following up any payments that are missed based on the agreed payment schedule.
  • Tracking where LayBy products are stored.
  • Easy editing of a layBy once commenced – by adding and removing stock.
  • Managing partial collection of items in the LayBy.

This structure is loved by many retailers using the LayBy facilities in our POS software. Some of our customers do thousands of LayBys each year.

Our advice to retailers is to focus on the expectation that all LayBys will be fully paid and collected on time, to consider LayBy as a positive service by the business and opportunity for the customer. Promote it. Welcome its use. Make managing it easy for you and the shopper.

Local retailers can make decisions around offering LayBy that could differentiate their businesses from bigger retailers.

We help our POS software customers with LayBy setup training and advice, so they can offer this payment method in a way that’s backed by consistency and certainty, offering a service that could help them win more shoppers.

Retail business cash flow advice: using POS software to improve your position

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Every day in local small business retail it is vital to focus on cash flow, vital to know where you are at, how you are tracking and what you are doing to maximise your position.

Poor cash flow = poor business performance and rocky roads ahead.

Too often, local small business retailers leave tracking business cash flow to accountants and others who may not be in the business on a day to day basis.

Managing cash flow in local small business retail is a day to day task.

Using the smart POS software from Tower Systems you have access to tools and facilities that help you navigate to a better cash flow performance for the retail business. You don’t need to be an accountant or someone with good financial skills. What do you need to be is an engaged retailer.

In our POS software we help you:

  • Make better business decisions. Decisions like inventory purchasing, shop floor placement, trading hours, loyalty rewards and more.
  • Identity poor performing inventory. Knowing what is not working can stop you reporting that mistake.
  • Knowing when you are likely to sell out. Many retail businesses bmiss absolutely for certain revenue by not having in stock inventory when shoppers wish to purchase.
  • Do more business with more valuable suppliers. Tracking suppliers by financial benefit helps you make more money with and from them./
  • Motivate employees. Employees can make better decisions for your business if you empower them with knowledge.
  • Calibrate business settings to benefit cash flow. When you open and close, who you roster, when you discount, when you price inventory at a higher price … these are all decisions that can be informed by data collected and curated by smart POS software.

These are just some of the ways the Tower Systems POS software can help a local small business retailer improve their cash flow position.

The real benefit when it comes to cash flow and our POS software is the business insights and advice we can provide to those interested. We have hands on retail experience and we will gladly engage this with and for any retailer in our community keen to improve their position, including their cash flow position. We will talk with and work with, one-on-one, with any retailer in our community to help them.

We’re a full service POS software company helping thousands of retailers, and we love it, every day!

Tower Systems helps independent retailers to expand and find new shopper traffic

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Efficiency is the name of the game in local independent retail today.

Efficiency of retail space. Efficiency of inventory investment.l Efficiency of tech infrastructure. Efficiency of labour.

While specialisation is important in retail, finding allied specialty areas that expand the appeal of your business is important today, as that can address efficiency opportunities like those noted above. Through our POS software we help with this and through our business management support and advice we can reveal allied product and category reach opportunities.

We are grateful to help local independent retailers with this. We use the data we can access and share this with retailers.

In the big retail, mass retail, spaces we see fresh examples of expanding into new product categories.

Two stories in recent days reinforce the extent of change in retail and remind all of us in local indie retail to consider change as well.

Bunnings announced the addition of 1,000 pet related lines.

Bunnings gears up to be dog’s best friend with expanded pet range
Emma Koehn

Hardware giant Bunnings is hoping shoppers will add dog food and toys to their shopping lists when heading in store as the retailer launches a significant expansion of its pet merchandise business.

Bunnings will throw down a competitive challenge to specialty pet retailers, which have boomed since the COVID era, when it expands its range from a couple of hundred items to close to 1000 products from late March.

This is a smart move because the majority of pet related purchases are habit based and habit based shoppers are tremendously valuable. Their regular shop is valuable in the context of what else a business operates.

It’s kind of I told you so but around 5 or 6 years ago we suggested the pet category to another retail channel.

The other move in by Chemist Warehouse, into optical.

Chemist Warehouse and Peter Larsen join forces to ‘disrupt’ optometry industry

MYLES HUME
February 15, 2023, 3:18 pm 847

The first store in Melbourne is the start of a mass rollout to take place in the coming years.
Australian pharmacy retailer Chemist Warehouse has entered the optometry market, opening its first store in the Melbourne suburb of Malvern and appointing prominent industry figure Mr Peter Larsen as its managing director.

On 15 February, Optometrist Warehouse announced it had opened its first location at 120 Glenferrie Road, with plans to “disrupt the industry” in the coming years.

“Initial expansion plans include the opening of a handful of stores in 2023, followed by a mass network rollout which will see Optometrist Warehouse become a household name and the go-to optometry service provider within the Australian market,” a press release stated.

We noticed the Chemist Warehouse move as one of their first locations is two doors from one of our shops.

These are thought out moves, designed to reach new shoppers, to strengthen existing, well-established, businesses. In each case they target product / service categories served by vertical businesses, specialty businesses focussed only on these niches. It’s those narrow-focussed businesses that are at risk.

This is why we think it is vital that any local indie retail business draws shoppers for many different reasons, and not just the usual 3 or for product or service categories that we see are typical in a newsagency business.

So, our question today is what moves are you making to attract new shoppers? You have to have made or be making moves because you need new shoppers, especially new shoppers who would not usually shop your shop.

It’s not too late. There are plenty of opportunities. The moves by Bunnings and Chemist Warehouse should wake some local retailers up, and help them see the opportunities out there.

Retail is changing in 2023 at a faster pace than in recent years. We need to change.

POS software update helps local retailers keep up to date

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Good software keeps changing, evolving, needing emerging needs and embracing new opportunities.

The Tower Systems POS software continues to evolve. What we offered a few months ago is not what we offer today.

In good engaged software companies, change is normal. This matters because needs change, opportunities change. Evolving POS software is all about local businesses keeping up.

The latest POS software update from the Tower Systems development team delivers access to:

  • Allotrac integration.
  • SmartPay integration.
  • CentrePay integration.
  • International barcode search integration.
  • Image background removal integration.
  • New security bridge integration for better and more capable security camera integration.
  • An enhanced, faster and more insightful end of shift process.
  • A customer servility sensitive data cleanup tool that helps your business better protect against unwanted data leakage.

These are just some of what is delivered in the latest POS software update from Tower Systems.

We are grateful to the customers who suggested some of these enhancements and to the customers who engaged in testing them as part of our comprehensive beta release program.

For this first update of 2023 it is considerable. Especially once you add the many other changes / enhancements not included in the list above. This update is the result of hundreds of man-hours of development investment. And, while our customers are embracing this update, we are advanced in our work on the next update, which we are excited for.

Engaged software developers are always working on their software products. That is our commitment here at Tower Systems – continual improvement based on continually evolving tech, market conditions and other factors.

We invest on behalf of our customers son that they can be sure that their Tower Systems POS software does evolve and can embrace opportunities of value and usefulness in the local small business retail settings in which we serve.

Included with this latest POS software update is advice for our retailer customers about data security. This refreshed advice is in the light of hacks in the last months of 2022. We have explained steps local retailers could consider taking to better protect data they are entrusted with. We have backed our advice with software tools to equip retailers with useful tech for better data protection.

Serial number tracking in POS software

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Not all POS software tracks serial numbers.

The POS software from Tower Systems does track serial numbers, and here’s how:

This new short video is another in our series for our POS software customers and our sales prospects. It’s another way we remind local small business retailers the value of our locally made and supported specialty retail POS software.

Ideal for jewellers, pool maintenance businesses, firearms dealers, bike shops, pet shops, appliance businesses.

By tracking serial numbers using the Tower Systems POS software, retailers can provide a level of service to customers they will appreciate. Serial numbers are listed on receipts. They are recorded, too, for later use should the item be stolen from the customer and they need to do a claim.

Tracking serial numbers in this Tower Systems POS software also sets your business up for longer term tracking of the service history of an item. This can be a valuable way to differentiate the services provided by your business.

The serial number tracking tools are part of the POS software for specialty retail settings such as jewellers, bike shops, pet shops and more. It is included in these products at no extra cost, no additional monthly fee.

Embedded in the Tower Systems POS software for a range of specialty retail marketplaces, the serial number tracking tools are a genuine value-add without any additional cost., They are a core part of the Tower software, able to be used at any time. This is key in that retailers will appreciate not having to pay extra to use serial number tracking tools.

In the pet shop channel, the serial number tracking tools are used to record pet microchip details as they, in an of themselves, are a form of serial number. Being able to track pet microchips in this way, using the serial number tracking tools, helps pet shops to provide a service pet owners and lovers certainly appreciate.

The serial number tracking tools in this software are another differentiator, another benefit for local business retailers through which they can provide an appreciated level of service to customers.

Tower Systems is grateful to its customers for their support in helping us reach more local retail businesses.

Fast selling with our smart POS software

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Selling quickly at the counter and from anywhere in the shop is critical in retail today. Selling accurately is even more important. Combine the two and your retail business is able to offer a lever of service that customers will love.

What helps us offer smart fast and accurate selling through our POS software is our work with a ton of different specialty retail businesses.

  • Jewellers.
  • Garden centres.
  • Bike shops.
  • Bookshops.
  • Toy shops.
  • Pet shops.
  • Newsagents.
  • Produce businesses.
  • Sewing shops.
  • Antique shops.
  • Firearms dealers.
  • Pool maintenance businesses.
  • Fishing and outdoors businesses.
  • Repairs businesses.
  • Homewares businesses.
  • Convenience businesses.
  • Music shops.

All of these and more have influenced what we offer in our POS software. A specialty need for one becomes a useful add-on for another, helping them to broaden the appeal of their businesses, by being smarter, faster and more comprehensive in function.

It is this breadth of work that has enabled us to offer fast and accurate sales management at the retail sales counter through our Point of Sale software. We are grateful for this, for the guidance of our customers into these areas, to help grow our business and what we offer our customers.

A point of sale system is a software, training and services package that enables a retail business to manage sales, inventory data and customer data in a way that makes the business more successful and profitable, more able to compete locally and online. It is a holistic package serving the business.

Our approach at Tower Systems is to demystify the POS software and the system itself. We try and make it easy to learn and understand, to ensure that anyone can use the software to their advantage without having to be technical. This is done through plain English training, without jargon or nerd-speak. We back this up with extra training as needed, to help our customers top up their knowledge when they want.

Fast selling at the sales counter and from the shop floor is part of what we offer. We make it easy for small business retailers to achieve this and to do so with accuracy, for it is data accuracy that matters most in retail today. Good data feeds good business decisions.

Grateful to have helped small business retailers with Covid contact tracing initiative

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Weeks before state governments released their own contact tracing apps for registering people in a shop or some other location, Tower Systems released a free and secure QR code based solution.

Many small business retailers embraced our free solution. It provided them with an immediate solution that they could show to their customers and thereby demonstrate safe protocols in place, which were key to maintaining shopper traffic.

Being nimble like this is important in small business, especially in businesses that serve small businesses.

What was a stress-inducing announcement from a government about a requirement became an I can do that moment because of our rapid deployment of our QR code solution.

We have ensured the security of contact data collected, not used or accessed it ourselves and ensured the removal of data as per privacy requirements.

Helping small business retailers in situations like this is another ay we can show our local relevance.

Cash register versus POS software, what’s best for small business retail

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We are a POS software company so, naturally, our advice will be choose POS software over a cash register … here’s why:

A cash register offers little security against employee theft. This alone should knock out using a cash register in any situation. With employee theft accounting for around 75% of all theft in retail businesses, the more you can do to track, understand and mitigate against it the better.  POS software offers excellent security / control over employee theft. The key is to use POS software well, properly.

Using a cash register denies the business an opportunity to truly understand what is happening in the business whereas POS software provides that data and averages those insights.

It is as simple as this:

  • Cash register: you sold something for this amount of money.
  • POS software: you sold these items for this much. It can even show the customer details, what was sold with it, how they paid and more.

Sure a cash register can feel like lower cost and easier to run. However, with employee theft, data loss and insight denial a cash register is a far more expensive solution for a retail business than POS software.

Good POS software for a specialty retail business can cost $3.00 to $5.00 a day. This is a small cost when you consider the data and insights value to a business compared to the ignorant cash register alternative.

Compared to a cash register, good POS software will help a retail business:

  1. Cut labour costs.
  2. Reduce customer theft.
  3. Reduce employee theft.
  4. Reduce the overhead of dead stock.
  5. Increase sales.
  6. Better manage supplier relationships.
  7. Better manage employee resources.
  8. More successfully lay out the shop.
  9. More easily and quickly sell online.
  10. be more appealing to a prospective purchaser.

Sure, a cash register can seem like the easy to use and easy to understand way to take payment at the sales counter. The reality is different. If you want to maximise the opportunity of your retail business, POS software is a better and far more complete solution for the business. It nurtures the data and insights that enable you to be a business person rather than a button pusher.

The future of retail management in POS software driven. cash registers are old school, from the past, not useful to retail today.

These are some fo the reasons we recommend POS software far ahead of a cash register for small business retail.

Everyday retail management advice: measure everything and win

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Measurement is key to the success of any retail business, especially in small business retail where competition is tough.

Measuring sales, stock, employees and suppliers will profit a business if those in charge act on what measurement reveals.

This is small business retail management advice we share with our POS software customers. While it is a boring topic, it is a business critical topic for if you measure and act on the evidence you are on a path to success. Ignorance may be bliss … it is also a road to failure in business.

Without accurate and consistent measurement, you are not able to make good business decisions or to hold others to account for their actions.

By measuring you can make better decisions.

Here are some simple rules for accurate measurement in retail:

  1. Only sell what you can track – by scanning a barcode or pressing a PLU (stock code) to track the item.
  2. Do not use department keys to sell items as this denies you the opportunity of tracking individual items you sell. Scan the barcode every time!
  3. Enter into your computer system everything you sell. Record stock you receive by supplier so that you can track supplier performance.
  4. Enter into your computer system everything you return to suppliers – consignment stock, returns or damaged goods.
  5. Record all sales and other activity at the sales register by employees.
  6. Reorder replenishment stock by using your computer system to create orders for you.

My making your business data driven you are better equipped to take the emotion and gut feel out of business decisions.  This will improve decision quality and accountability and, hopefully, the return you achieve from these decisions.

Businesses which do not measure stock, suppliers, employees and sales accurately often find themselves faltering without knowing why – because they have no accurate data on which to base research.

Measuring everything reveals a path forward and this path is success.

Yes, this is a snooze of a topic. However, it is also a business critical topic offering a bankable result – if you measure everything and act on the results as revealed by the measurement.

Tower Systems helps small business measure, analyse and act. Our advice for small business retailers is considerable – reaching as far as retailers ask. It starts with our POS software and offering retailers opportunities to fully learn how this software can serve any specialty retail business that chooses it.

Advice for small business retailers on shop layout

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The more a retail business looks like a traditional shop in any channel, the more it will be judged as a traditional shop, the more it will perform like a traditional shop. There is nothing wrong with this, if it is a conscious choice.

Through our work at Tower Systems we see awesome and successful retail businesses and less than awesome and not so successful retail businesses.

We encourage you to not run a traditional shop because there is no evidence in performance data or in retail history to indicate that a traditional retail model has any upside in the world today.

The best way to not be considered a traditional shop is to not look like one. Here is some of what this means based on our experience:

  1. Keep visual noise to a minimum. This means less posters and signs. Let your products be seen and be the heroes.
  2. No old-school posters out the front of the shop or hanging in the shop except in exceptional circumstances.
  3. No old-school products stand near the entrance.
  4. Make the front third of the shop open with non-permanent fixtures that are flexible and easily moved. These are best if they are everyday items: tables, a couch, boxes and more. The more colour, texture and style the less like a shop your shop will feel and the more relaxed shoppers will be.
  5. Floor rugs are effective too, under a table fixture especially.
  6. No candy or William old products at the counter. Use the counter for products that are easily purchased on impulse, that play against expectations.
  7. A feature wall behind the counter that can be changed easily.
  8. Different colours and textures rather than the usual shop-fit look.
  9. Different lighting to highlight different part of the business.
  10. Less shop-fit made fixtures and more personally made or found items.
  11. Product placement such that it encourages people to explore. Embrace treasure hunt retail… where people wander the shop hoping to find treasure.
  12. Move tasks, pricing, returns and more to the shop floor. This will reduce shopper theft and increase sales.
  13. Have the least amount of staff resources behind the counter as possible. On the shop floor the same people can guide purchases.

Change is critical in retail today. Change beyond what has been traditional, change that helps you attract new shoppers and through them new revenue opportunities.

While we are  an indie retail POS software co. we are retailers and retail experts. We’re here to help our customers through software, and beyond.

How our POS software company helps retailers go cashless if they want

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Cashless retail is a thing. It is growing in retail, especially small business retail where trading in cash is challenging with banks withdrawing services and some increasing fees for handling cash.

Tower Systems, in its POS software, helps small business retailers transact without cast cost effectively, safely and quickly. We do this in myriad ways including…

Lower cost direct EFTPOS. We have negotiated excellent, competitive, rates for our 3,000+ customers for direct connect broadband EFTPOS, making accessing EFTPOS cheaper as well as faster and safer. This makes using EFTPOS at the counter as fast as cash if not actually faster.

Direct integration with EFTPOS. This means there is no extra keying of sales amounts, no separate terminal. No slower process for handling. Fewer mistakes. Easier end of shift balancing. More certainty for customers and for the business.

Easier access to cashflow finance. Through the EFTPOS arrangement, there is access to cashflow finance that can help the business better managing capital needs with greater certainty given the flow of funds between EFTPOS and the business bank account.

Direct Xero integration. This means less keystrokes, less accounting and bookkeeping fees, less mistakes and greater business certainty thanks to a more robust base off data on which business decisions can be made.

Business process advice. This includes migrating your end of shift from cash and other payment methods to other only, eliminating the float, making services payments easier and more.

Tower Systems can help retail businesses that want to transition to cashless to achieve this. We are not advocating this as we recognise each business owner needs to make the decision that is right for them. Our message is we are here with a plan if you want it.

As retailers ourselves, the questions about whether to go cashless in retail as well as how to go cashless in retail are as real for us as other retailers. Indeed, these are questions we have right now … hence, our preparation of plans and considerations, so we are positioning ourselves for our retail businesses and are happy to share this with other retailers in our small business retail community.

Cashless is growing in use in retail. We think it is useful and appropriate for retailers to learn how to deal with this. We are here to be a sounding board for anyone interested.

Small business retail advice: make every day your pay day

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We hear retailers saying that times are tough, that business is tough, that the economy is difficult. 

While complaints are easy, acting is harder. Our view is that everyone in small business has to act to the conditions. If times are tough, get tougher, smarter and faster is pursuing better times.

This is why one piece of advice we give to small business retailers is that they/you should make every day your pay day.

Today, the best way to extract value from our businesses is to make every day your pay day, to not rely on your pay day being the day you sell the business. The days of a retail business selling for a handsome multiple of net earnings are over for now. Making money when you sell is not and common. hence, the needs to make money today. What you make reflects in your P&L.

The P&L matters as this is what you need to be guided by in all business decisions and actions.

The challenge is how do you do this?

Retailers need to look at their businesses differently. This starts with the mindset of every day being your pay day. Each decision needs to be considered in this context, in the context of the P&L impact.

Focusing on profit today will give you a better result today and make your business more valuable tomorrow.

Here are some suggestions for making every day your pay day:

  1. Run with the leanest roster possible. Just about every retail business we review has capacity to lower labour costs. In a typical retail business, one hour saved today is worth around $75 in revenue.
  2. Ensure you can sell when the business is closed. Yes, this means sell online.
  3. Promote the business outside your usual foot traffic area … increase your customer base.
  4. Promote your business outside the brand people know you as. or example, online pitch under a brand other than your brand.
  5. Have your best people working the floor, helping customers spend more.
  6. Have stunning displays that attract people from outside the shop.
  7. Have compelling displays in-store that encourage people to browse beyond their destination purchase.
  8. Always have impulse offers at high traffic locations.
  9. Charge more every time you can. Loyalty programs such as discount vouchers, bundling into hampers, multi buys such as 2 for 3 and other opportunities enable you to do this by blocking price comparison.
  10. Buy as best you can.
  11. Grab settlement discounts every time you are able.
  12. Measure product category performance by gross profit. Quit the categories that are not paying for themselves.
  13. Promote outside your store using online and social media opportunities.
  14. Leverage adjacency information. Chase a deeper basket – people purchasing more each visit.

Be responsible for the profitability of your business. Don’t blame your suppliers, your landlord, your employees or some other external factor … it all comes down to you – the decisions you make and the actions you take.

If you relentlessly pursue profit with a clear focus you are likely to see profit grow. That’s better than waiting to make money when you sell because that’s less likely to happen in this market.

Doing all this relies on your measuring the performance of your business. The Tower software helps with this. It is easy.

Data security advice for small business retailers using POS software

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2018 is not even half over and already it has seen considerable attacks on computers and on websites. Each attack reinforces the need for all businesses, including small businesses, to have appropriate security and backup measured in place to protect business data.

Appropriate backup means:

  1. Backup every day, without fail, without having too spend time for we know that time backups can take can make backups be ignored or forgotten.
  2. On-site backup.
  3. Plus, off-site backup.
  4. Easy access for recovery.
  5. Protection in a facility away from the business not only of all data but all software to facilitate swift recovery.
  6. Managed costs.
  7. Secure access to backed up data.
  8. maintaining backup services at the cutting edge.
  9. Appropriate security for backed up data.

Our advice is that you use a cloud backup service, like the Tower Backup service we offer. It works in the background, backing up without you having to do a backup. If your business is attacked, getting back to a clean and safe place is easy. Any reputable backup service should be able to offer similar to you.

Please do not put this off. Get protection for your business and your business data. You don’t want to be the person who does this after you have been attacked.

At the very least, backup every day, onto a USB stick for that day. While this is an old-school approach, it is better than nothing at all.

But let’s be clear, cloud backup is our recommendation. Our service provides you with a local backup and an offsite backup, in the cloud. This gives you two backups, excellent protection. We monitor the backups to ensure they are working. If we find an issue, we proactively call you. This is rare from a cloud backup service provider.

Here at Tower Systems we take data security seriously. We provide best-pracie advice. Our customers are welcome to use our service or another, our recommendation, however, is that they do something – to be protected.

Too often small business retailers think about data security after they have been affected. Hence this advice here and in our weekly emails and elsewhere in our touch points with customers.

A theft policy is vital to helping any retail business cut the cost of employee theft

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Here at Tower Systems we often help small business retailers detect and stop employee theft. One piece of advice that we see as vital to this mission is for a business to have a THEFT POLICY.

Here is a policy we share with our customers. Feel free to use it, modify it and share it.

THEFT POLICY

  1. Theft, any theft, is a crime against this business, its owners, employees and others who rely on us for their income.
  2. If you discover any evidence or have any suspicion of theft, please report it to the business owner or most senior manager possible immediately. Doing so could save a considerable cost to the business.
  3. We have a zero tolerance policy on theft. All claims will be reported to law enforcement authorities for their investigation.
  4. From time to time we have the business under surveillance in an effort to reduce theft. This may mean that you are photographed or recorded in some other way. By working here you accept this as a condition of employment.
  5. New employees may be asked to provide permission for a police check prior to commencement of employment. Undertaking the police check will be at our discretion.
  6. Cash is never to be left unattended outside the cash drawer or a safe within the business.
  7. Credit and banking card payments are not to be accepted unless the physical card is presented and all required processes are followed for processing these.
  8. Employees caught stealing with irrefutable evidence face immediate dismissal to the extent permitted by local labour laws.
  9. Employees are not permitted to remove inventory, including unsold, topped, magazines, unsold cards or damaged stock from the store without permission.
  10. Employees are not permitted to provide a refund to a customer without appropriate management permission.
  11. Employees are not permitted to complete sales to themselves, family members or friends.
  12. Every dollar stolen from the business by customers and or employees can cost us up to four dollars to recover. This is why vigilance on theft is mission critical for our retail store.

PLEASE SIGN AND DATE YOUR ACKNOWLEDGEMENT:

Yes, you can cut the cost of theft in any retail business. It starts with the right policies and processes.

Retail marketing advice on how to increase items per transaction

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Driving shopper efficiency is key for retailers. It is easier to get a shopper in the store to purchase more than to get a new shopper into the store from outside.

In looking at shopper basket efficiency for many different retail businesses we have developed an understanding of basic steps different small business retailers can take to drive shipper efficiency. Here is our advice.

ENGAGE.

Smile, make conversation, treasure your customers.  The more they enjoy shopping in your shop the more they will shop in your shop.  Smile.  Get good eye contact.  Say hello rather than can I help you.  The more personal the experience the more they will remember you.  This is your point of difference. Personal service is the single most valuable way to drive shopper visit efficiency.

WORK THE SHOP.

Standing behind the counter means you’ll serve people who come to you.  The more you are in the body of the shop and engaging with customers the more they will buy.  In busy times work the shop – engage, offer up sells.  Customer service increases revenue in every situation we have seen. Our advice is you locate a workstation on the shop floor.

DEMONSTRATE.

Show how products are used.

THE COUNTER AS A SALES TOOL.

Go to your shop counter and look at it from a customer perspective.  What’s the message?  Is it inviting?  Are you using the counter to drive sales?  Anyone can put product at their counter.  It takes a clever retailer to use the counter to entice customers to buy a product.  Use your counter wisely.

COUPONS.

It’s difficult to offer every customer an up sell.  Instead, use your receipts. Include a $$ off on next purchase.  Point it out. Keep it simple, have an expiry date on the coupon. This is an easy win that will bring back shoppers for sure.

TRAINING SALES EMPLOYEES.

Get your employees on side – explain your focus on growth.  If they don’t support you, replace them.  Respect your employees and ask for their ideas.  Use their ideas!  Train them.  Guide them in providing exceptional service.  They are your front line and need to be your most skilled team members.

TARGET, MEASURE, REASSESS.

Keep track of your success and failures.  Be realistic in your assessment.  Change what is not working and celebrate what is working – keeping your employees informed all the way through the process.

HOT SPOT TARGETS.

Focus on your top, say, 5 items.  Watch where people buying these items go in your shop.  Watch carefully.  Consider what you can do to get them elsewhere in your shop.  This is the key – getting people to shop outside their usual category, breaking their habits.

IN STORE SPRUIKER.

In your busiest time in the week bring in a spruiker for use INSIDE your shop.  Create some buzz and excitement to draw people away from their usual shopping areas.

CHANGE.

A key reason people will stop visiting your shop is that they know what it will be like.  A changing shop can be exciting.  Good changes will make people want to come in and check out new products and other changes you’ve made.

While much of this advice reads like common sense. Too often we see retailers who have missed the opportunity.

Helping small business retailers relax when feeling overwhelmed

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Through its help for small business retailers, POS software company Tower Systems helps beyond the software, beyond what is usual for a POS software company.

The most recent help has been through practical advice on how to deal with feeling overwhelmed…

If you feel overwhelmed and can’t work out what to do, reach for this list and try one of the practical and safe ideas. They cost nothing.

The goal is to help you see small steps you can take to walk through whatever it is that makes you feel overwhelmed.

  1. Go for a 5k or longer walk outside, alone. Not a stroll, but a walk, at pace if possible. Unplugged, no phone, no music.
  2. Establish rituals for your day. How you start your day, how you end your day, lunchtime, bed time. For example, starting with breakfast, and a nice tea or coffee could be the calm start to the day you need.
  3. Have apps on your phone that are fun and you enjoy. Play one of these for a while to take your mind off things. It is amazing how our mind helps us resolve things when we turn away from those things.
  4. Learn meditation. From simple controlled breathing to yoga, meditation can be a perfect reset from a busy and overwhelming day.
  5. Play Scrabble through Facebook on your computer. You can play anytime with someone you have never met and will never speak to.
  6. Draw, even if you think you can’t. If you are not sure what to draw, draw why you feel overwhelmed.
  7. Write. Anything but you could try writing on the page about what it is that you think makes you feel overwhelmed.
  8. Talk. We are good listeners.
  9. Three-count breathing. Inhale for three counts. Hold for three counts. Exhale for three counts. Do this for, say, ten rounds. Then increase the count. The rhythmic nature of this and concentration can help you see ahead.
  10. Earth. Go to the beach, a park, your backyard and take your shoes and socks off and put your feet on the ground.
  11. Watch. Go to a playground and watch kids play. If there is a local sports game on near you, go watch that.
  12. Start a journal. Write in it every day.
  13. Be clear to yourself when the day is done. While it is tough in small business to turn off, have a threshold so that once you cross it, you have turned off and the time is yours.
  14. Find a quiet place, put on headphones connected to a music source and listen to your favorite album of all time, with the volume turned up and a do not disturb sign on the door.
  15. Get away to a safe place and write a note to your overwhelmed self. Give yourself honest advice you’d give your best friend if they came to you with the feelings you have.

If you are struggling beyond what these suggestions can help with, consider speaking with your GP about a mental health plan. This provides access to medical professionals who can help you more effectively deal with what it is that leads you to feel overwhelmed.

Tower Systems develops and supports small business POS software. Our advice and help often reaches beyond what is usual for a POS software company. www.towersystems.com.au

A checklist for anyone considering buying a retail business

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A common question we are asked by people contemplating purchasing a retail business is what should I ask for when looking at buying a retail business?

The question itself, when asked, indicates how green a prospective purchaser is when it comes to purchasing a business.

Here is a list of data we suggest retail business purchasers access from the vendor or their representative:

  1. P&L from the accountant for the last two years. i.e. not a spreadsheet created for the purpose.
  2. A good explanation of any add-backs.
  3. Sales data reports, for the last two years, from the POS software in use – to verify the income claim.
  4. Sales data reports from the lottery terminal to verify the income claim.
  5. BAS forms to confirm data in the P&L.
  6. A list of all inventory to include purchase price and date last sold for each item.
  7. A copy of the shop lease.
  8. A copy of any leases the vendor expects you to take on board.
  9. A list of all employees: name, hourly rate, nature of employment, start date, accrued leave.

This is good basic information that will enable any purchaser to undertake reasonable assessment of a business.

A good business will shine through the numbers just as a business with upside achievable by new owners will shine through.

Our advice to newsagents looking to sell who are concerned about this list is: think about it now and focus on your business so the data I have listed looks good.

Every day you make decisions in your business that impact many of the data points listed.

This is why we say every day is your pay day. Run a smart, lean and profit focused business and you will have a good pay day today and a good one when you come to sell.

The most appealing businesses are those that are easier to run and are making money.

Sure a purchaser can turn a business around. They should get the rewards if they are expected to do that for your business.

The price you can sell your business for will be based on what it is making now.

Getting the data ready for the sale of the business could, of itself, help you improve how you run your business.

Sunday retail management advice: managing spinners for success

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Retailers have a love-hate relationship with spinners. While some have a rule of no spinners, in many situations they are necessary.

Here is advice designed to help any retailer make the most of the spinner opportunity.

  1. Keep them tidy. Duh! This is very basic advice. But it needs to be said. Daily you should have your spinners checked and tidies. Move products to the front, keep products clean, pose products to show them off, if appropriate to the products.
  2. Keep them full. A half empty spinner will not work as well as a full spinner. This is retail 101.
    1. If you plan to keep a spinner for the long term, order stock regularly to keep it full. We know that a full spinner usually achieves around 20% more sales than a half empty spinner.
    2. If a spinner is a one-shot – get it in, sell it down, take it off the floor – once it starts to look empty, consider taking all stock off and placing it elsewhere in-store. Leaving it on the floor and half empty will hinder sales.
  3. Move your spinners. One a week tweak spinner locations to keep your shop floor story fresh. Have a plan. Don’t move them just to move them. Move them to drive sales – to get the products considered by people who may have missed them so far.
  4. Respect the brand. Never put product on a branded spinner that is not from the brand. Not only would such a move disrespect the brand it makes you look like an unprofessional retailer.
  5. Use thoughtful adjacencies. When placing spinners next to each other, think about the shopper and what they are looking for. This will encourage a shopper attracted to a spinner to consider the products on the spinner next to it.
  6. Avoid orphans. There is nothing sadder than a lonely spinner at the back of a shop. It’s usually half empty and looking tired and sad. It does nothing for the products or the business. Find it some friends or remove the stock and throw the spinner out.
  7. Spinners have a limited life. While a spinner for which you no longer have the original product can be useful for displaying other products, don’t work the poor thing beyond its useful life. Hideously bent wire, cracked and broken pockets, no signage, seriously chipped paint, broken casters … these are all indications that the poor old spinner ought to be tossed out.
  8. Leverage traffic hotspots. This only works with certain products on spinners – locate the spinner next to high traffic generating products such as weekly magazines, newspapers, lotteries etc. The products need to be products shoppers of the destination items will purchase.
  9. Leverage seasons. Around your cluster of cards for Christmas, Mother’s Day, Father’s Day etc place spinners with products appropriate to the season.

ADVICE FOR SMALL BUSINESS RETAILERS ON HOW TO SEE THEIR BUSINESS DIFFERENTLY

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This is not the usual advice you would expect from your POS software company. But Tower Systems is not your usual POS software company.

In our work with small business specially retailers in Australia and New Zealand we often hear about burnout, retailers being tired and over the grind of opening the shop working all day, closing, getting little sleep and doing it all again.

We hear of retailers who are often too tired to be innovative in their approach to business, to exhausted to think about the future let alone today or tomorrow.

We get it that retail is tough, full of challenges. Our job is to help retailers see things differently.

Call us crazy but we have some ideas designed to help small business retailers reconnect with their businesses. They are unconventional. They are free. They are fun. They are designed to get you looking, hearing and smelling your business differently. They are designed to open your eyes to opportunities you may be missing.

Are you ready? Here are our unconventional ideas for refreshing your views of your small retail business – in the hope that you find opportunities you were not seeing.

  1. Go to your shop at night time. Leave the lights off. Put a chair on the middle of the shop floor. Sit down. Take your shoes and socks or stockings off. Put a blindfold on. Soak it up. What do you smell? What do you hear? Is there any sense of place that you get from being there.  Be still for fifteen minutes or so thinking about this. Breathe deeply. How does your shop smell? Does it have a smell? If not, why not? Then take the blindfold off and look around you for another fifteen minutes. Finally, get up – with your shoes and socks or stockings still off – and walk around the shop. Take in the environment you are in control of. Let the ideas flow. If you want to take it to a deeper level, lie down on the floor on your back and look up and around – kind of up-skirt your own shop while it’s empty!
  2. Get a stool or fold up chair, pack a lunch and spend at least three lunchtimes in a week sitting opposite the entrance to your shop watching customers. Don’t write anything down, just watch. Preferably do this without people noticing you. Wear a disguise if necessary. Watch intently. See where people go, what they pick up, what they buy if possible. Try and predict what they will do. Watch and think. Watch and think.
  3. Get a small desk and a sign for the desk that says CUSTOMER SERVICE. Place the desk near the front door of your shop. Set yourself up at the desk, sitting behind it. Dress formally, old school. Like in a 1950s movie preferably. Sit up straight. Look the part. Sit and wait and see what comes your way. Have fun interactive with customers. The desk should look out of place but it should also look fun. The idea is that your customers, your staff and you will be a bit shaken up by the change. See what comes your way.
  4. Sit out the front of the shop for a day. Yes a whole day. Sit and watch, take notes and think about what you see, what you could change and ask people, as they come out, what they would change too.

We have more crazy ideas. These barely scratch the surface of the crazy idea cupboard. Just ask.

We’re here to help small business retailers create and run successful independent small local retail businesses. Our help goes beyond our software. Were retailers too and love being able to talk retail with anyone.

SUNDAY SMALL BUSINESS RETAIL MANAGEMENT ADVICE: CHALLENGE EXPECTATIONS

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Every week we get to see many different retail situations through our work with small business retailers. The most exciting shops we visit are those that challenge our perception of that type of retail business. This happens when we go into a shop expecting to see a certain range of products or a certain type of display because of the type of business it is and we actually find something quite different, far more exciting, something that challenges the perception of the business.

Through our work with retailers we share the insights we see, this ideas we pick up and the excitement we feel when we see something unexpected.

So, beyond the POS software and the technical work we do we share good retail, retail we like, to encourage change elsewhere.

We try things ourselves in our own shops, like the greening of the magazine department in our own pop culture newsagency as shown below. Introducing plants to the magazine department has resulted in excellent shopper interaction.

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WHAT MAKES THE TOWER SYSTEMS POS SOFTWARE MAGENTO LINK A BEST PRACTICE SOLUTION FOR RETAILERS

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Not all POS Software Magento links are made equal. Some POS software Magento links are slow, out of date, not direct and / or cumbersome. Some make doing business online and in a bricks and mortar store from the same stock data set cumbersome,

Thanks to relationships developed in the US with the Magento team over years, Tower Systems offers a best-practice solution, one powerful, easy to use and ideal for independent retail businesses.

Linking directly with the Tower POS software it is a breeze to use – as the many e-commerce sites already using it can attest.

A weakness we have seen in some other products is their use of an old version of Magento. By using the latest release, we are able to deliver something far more useful and valuable to small business retailers. Indeed, we can show the difference live through sites we have developed even for our business retail and e-commerce businesses.

This use ourselves of our own software enables us to speak with experience and authority on these things. We are not selling you something thinking how it should work. No, we are selling something we use ourselves for our own retail business, something that meets our own exacting needs, something of which we are most proud.

Using our Magento link it is easy to share data, images and other vital content between your shop and your online store without extra time or technology overhead. The Tower Systems approach is a breeze to implement and manage.

SMALL BUSINESS RETAILERS NEED GOOD GIFT CARD SOFTWARE IN WAKE OF DICK SMITH COLLAPSE

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IMG_3465The woes of retailer Dick Smith and the swift announcement of the status of gift vouchers by the Administrator last week has made shoppers suspicious of gift vouchers. This is what happened following the collapse of the Red retail group – Angus and Robertson – some years ago. It took months for trust to rebuild.

Unfortunately, we can see a similar situation follow what is happening at Dick Smith at the moment.

Thanks to the comprehensive gift voucher / gift card management facilities in our software, our small business retail partners have a good story to tell about managing the cards / vouchers and the cash collected.

Our software is well established and tested in this area, across multiple retail channels. we manage the vouchers in a way a CPA would expect and the way a shopper can trust.

POS software customer love helping us sell POS software

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We invited several customers last year to have their photo taken in-store as part of a promotional series showing happy small business customers in their shops where they use our smart POS software. We were thrilled every customer we approached agreed.

Here is one photo from the wonderful LollyBomb business in Adelaide. Some of the specialist facilities in our software help this business in smart and engaging ways.

We are grateful for their help in promoting our software.

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POS software helps retailers sell more hampers at Christmas time

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Christmas is hamper season for many retailers and Tower Systems helps retailers easily and confidently make, manage, sell and deconstruct hampers.

We track all the components of a hamper, special package pricing, sales history, customer engagement and, if necessary, the breaking down of hampers to single items should a hamper not sell.

Making it easy to manage hampers helps the Tower software be selected by gift shops, bike shops, pet shops, garden centres and other retailers where hampers are an important part of the Christmas trade.

Our work in the hamper space started years ago when we sold our software to a hamper specialist. They guided us to develop smarter tools and these sit in the core POS software we offer to retailers today.

Hampers are a terrific way for local small retailers to pitch a point of difference. Our software makes hampers easy to manage and sell. More important, our software makes it easy to leverage for next season.

This is another POS software Tower AdvantageTM.

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