Theft Costs A Store Money; Using The Loss Prevention ROI Calculator Doesn’t And The Results Will Astound You

There a a lot of small retail stores that struggle to survive, let alone grow their profits.  According to the Small Business Association (SBA) Office of Advocacy, https://www.sba.gov/sites/default/files/Business-Survival.pdf “About two thirds of businesses with employees survive at least 2 years and about half survive at least 5 years.” Owners and managers of small businesses know that there is a lot of personal sweat and blood that goes into running their store but that isn’t necessarily enough to stay afloat. There are a number of factors that can cause a business to go under. On their website, Quickbooks lists several of these reasons and I recommend anyone thinking about going into business for themselves to carefully read the article so they are prepared to be successful. There was one factor that I would like to focus on from the article; http://quickbooks.intuit.com/r/money/8-reasons-why-small-businesses-fail/ According to the Quickbooks article one of the reasons they cite for businesses failing is lack of funding. Their suggestion is that as part of the planning for the business, “calculate startup and operating costs.” In making those calculations one should ask, “What will my Return On Investment (ROI) be with this or that purchase?” Well, if you are starting a retail store you can start by using the Loss Prevention ROI Calculator.

Going into the retail business involves more than simply setting up shelving, installing a point of sale system, obtaining merchandise and suppliers. It is easy to overlook the ongoing expense of what theft and merchandise shortage is going to cost. People are going to steal from you, customers, employees and potentially vendors. In North America in 2014-2015, retail shrinkage was around 1.97% (according to the 2014-2015 Global Retail Theft Barometer)! It is critical that before you start a business you plan on addressing this issue. The Loss Prevention ROI Calculator provides you with the ability to enter both your projected or anticipated sales dollars for a year and how much you would like to invest in retail theft prevention technology. You can change your entries and try out different calculations and the information is yours to view. Nothing is sent out unless you decide you would like more information and you can then share a figure with a representative. The amazing part of this is the Loss prevention ROI Calculator costs nothing to use. Can Loss Prevention Be Free?  You may be surprised to learn it can be after you try out the Free Loss Prevention Calculator.      

But what if you have already started your business, you are struggling, and you need to fix your problems since it is too late to plan them in your calculations. Can Loss Prevention Be Free for you as well? You bet it can. Your business may be seeing profits drained by theft and you don’t know it. An electronic article surveillance (EAS) system can prevent theft by deterring it in the first place and secondly, by allowing you to identify and stop it when it does happen. The deterrence value of an EAS system alone significantly reduces your shortage. Since you have an established business, you can use the Loss Prevention ROI Calculator and enter your known annual sales information without having to guess, as a start up owner would have to do. Enter different dollar amounts of what you might like to invest in EAS protection and you will get an estimate for how many months it would take for your new Checkpoint system to show your Return On Investment. With the Free Loss Prevention Calculator you will even be able to generate a PDF document to use for your strategic planning to get back  to a stable footing.  

As you make preparations for a new business or if you are struggling right now, you need to consider what your return on investments will be for each purchase you make and account for the dollars spent. Unless you plan for it, assume you will lose 2% or more annually from your bottom line. OR, you can make the best investment and use the Free Loss Prevention Calculator. No cost to use and you can answer the question for yourself, “Can Loss Prevention Be Free?” Go ahead, try it out and see how much a retail theft prevention system can save you and how quickly it can pay for itself. 

Need information on the Loss Prevention ROI Calculator? Give us a call at 1.770.426.0547 now.