Balancing the Budget: Outsourcing Business ServicesBalancing the Budget: Outsourcing Business Services

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Balancing the Budget: Outsourcing Business Services

My company is now over a decade old and I still outsource several key functions. It isn't that I can't afford to keep them in house. It is just that outsourcing is the most financially responsible decision I can make. I outsource all sorts of support services. One company manages my IT needs. Another partner takes care of the payroll and remitting taxes. I even have a cleaning service that comes in at night, does the windows, and in general keeps everything spotless. If you think outsourcing might benefit your business, let's talk. I'll tell you what I outsource and why. From there, you can decide if my strategy would also work for you.

Maximize Your Retail Store's Loss Prevention Program And Stop Losing Money

Losing valuable merchandise to theft can eventually hurt your small retail store's profits. In addition, the misuse of your products can also affect your earnings because you need to discard and replace these items right away. If you currently face significant losses in store's merchandise due to these problems, you may want to add security guard services to your loss prevention program. Placing store associates around the store may not be enough. Here are two problems you may face daily and how you can maximize your loss prevention program with security guard services.

Can Retail Theft Hurt Your Community?

Retail companies lose over $40 billion in revenue each year to store theft. Even if your store is small and serves only your community, you can still feel the effects of losing the merchandise your customers come to rely on. Although it may seem unwise to hire a security guard company to protect your small retail store, it's one of the best ways to protect your store from closing down to lost profits.

Additionally, theft is a leading cause of why small businesses close down early. The problem is a widely spread concern that hurts everyone in your community. For instance, a number of your customers may come to your establishment for what they need because they don't have cars. Some clients suffer from physical ailments that limit their ability to go out of area to shop. Other clients want your services because you're convenient and reliable. People who steal your merchandise can create problems for the customers who need you.

How Does the Misuse of Your Products Hurt Your Store?

Theft isn't the only problem you face in your small store. You can also lose merchandise to consumer misuse. Sometimes, customers want to know how products feel, smell, or taste before they buy the items. The customers may break open lids, untwist tops or pull off plastic wrappings to your products to sample them — even if you already have small samples out for your customers to use.

To protect the health and safety of all your customers, you must discard contaminated products to prevent the spread of germs that cause bacterial and fungal infections in the mouth, skin and respiratory system. Keep in mind that not all customers may wash their hands after using the restroom, sneezing or handling uncooked food. If you discard contaminated products regularly, you may suffer a significant loss in the store's monthly revenue because you may need to:

  • Reorder products to replace the contaminated products before you're ready to do so.
  • List the discarded products as store losses instead of gains in your accounting records.
  • Let go of employees to compensate for the losses. If you don't have enough staff to work the registers, counters or assist clients, your customers may leave and go elsewhere for better service.

These problems may affect your retail store's ability to stay open and serve your community, especially if you can't sell enough products to make up for the losses. By adding security guards to your loss prevention program, you create a strong barrier against theft and product misuse.

How Do Security Guards Reduce the Loss of Your Merchandise?

Security guards can decrease the loss of your merchandise when they:

  • Watch out for customers who exhibit questionable behavior, such as pocketing items as they walk through your aisles.
  • Stand guard at your store's entrances to deter people who may want to steal your merchandise.
  • Stop customers from using or opening products they don't plan to purchase.

Your security officers won't harass your customers while they shop. However, the officers may approach unsavory customers and questioned them if necessary. If there's a problem, such as suspected theft, the officers will contact your area's local law enforcement for backup. 

If you need to improve your loss prevention program, contact your security team for additional information about its services.