This presentation was given by Jason Richelson, CEO & Founder of ShopKeepPOS (http://www.shopkeep.com/) at Tekserve's (http://www.tekserve.com/) event for SMB Retailers on May 29th, 2014.
Learn why your small retail business needs a modern point of sale system and how to choose the right one for your needs. You'll also learn how to use the data from your POS to increase profits.
Check out the Small Business 101 blog, which is everything you need to know to start and grow a successful small business: http://www.shopkeep.com/small-business-101
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Why you need a point-of-sale system to help you grow your business.
1. The Small Business Data
Revolution is Happening Now
Why you need a point-of-sale system
to help you grow
Jason Richelson, ShopKeep POS
2. 2004: I quit my career in finance to open
a wine store called The Greene Grape.
2006: We opened our 2nd wine store.
2009: Opened The Greene Grape Provisions,
a Gourmet Grocery and won Brooklyn Small Business
of the Year.
70 employees, 3 locations, $7MM a year.
The fun part for me was finding tools to help
us run our business better.
I like solving problems and running a store is
all about problems.
2011: Launched ShopKeep POS in the App Store
Who is Jason and
why should I listen
to him?
3. A complete business management tool.
Front of house BackOffice
What is a POS system?
4. Take the guess work out of running your business and make
decisions based on data.
POS System
Track every product and sale with detailed reporting.
Inventory counts automatically update with sales.
Employees clock in and out as part of the system.
Data is always accurate and accessible.
Easily build your customer database for marketing.
No POS System
Tally receipts at the end of the day.
Time-consuming weekly stock counts.
Write down employee hours by hand.
Errors and missing data are common.
Manually reconcile credit card
transactions.
Data not tracked and easily available.
Why should you use a POS system?
5. How to choose the right system
Ease of Use
Customer Support
Adaptability and Evolution
Simple Pricing
Robust Reporting
Data Accessibility
Data Security
Quality Hardware
6. ๏ What products give you the best margin?
๏ What are your best and worst selling items?
๏ Which customers are likely to be
interested in your new product?
๏ When should you reorder inventory?
๏ What products should be by the register?
๏ How many staff do you need in the
morning vs. the afternoon?
๏ Which employees are performing the best?
Optimizing your store based on data
7. ๏ Raise your hand if you currently own a store.
๏ Keep your hand raised if you have a POS system.
๏ Keep your hand raised if you can answer the questions we just went
through.
!
If you can’t answer those questions, you are missing an opportunity to
optimize.
Quick exercise
9. 1. Overall sales & transactions by hour
Make informed decisions about opening hours and staffing.
10. 2. Sales by employee
Train and reward as appropriate.
11. 3. Best and worst selling items
Find the 20% of your products that are contributing
80% of your sales.
12. 4. Tracking your margins
Just because it’s selling, doesn’t mean it’s growing
your bottom line.
13. 5. Tracking your frequent customers
I built my wine store business on tracking
repeat customers.
14. 1. Is it easy to learn? Training needed?
2. Can I work with any payment
processor?
3. What if the internet goes down?
4. Is it cloud-based? Can I easily
access my store data?
5. Can I call Customer Care if I need
help? Will it cost me?
Key takeaways for choosing a POS system
5 questions to ask about the register…
15. 1. Does it track inventory?
2. Is there employee management?
3. Is there transaction-level detail tracked
about every sale?
4. Can I build and use my customer
database?
5. Does it provide easy and intuitive
reporting on all of the above?
Key takeaways for choosing a POS system
5 questions to ask about the BackOffice…
24. Recruit and hire the best. Train them well -
they are your in-store marketing.
25. Our mission:
Make it simpler to start, run and grow a successful business.
๏ 10,000+ customers.
๏ Coffee shops, bakeries, QSR’s, gift shops, food trucks, clothing
stores, amusement parks, seasonal businesses, etc.
๏ Integrates with QuickBooks, Xero, LevelUp, PayPal.
๏ Customer Care available 7 days a week by phone, email and chat.
A little about ShopKeep