why you need a point-of-sale system to help you grow your business

The Small Business Data Revolution is Happening Now Why you need a point-of-sale system to help you grow

Jason Richelson, ShopKeep POS

2004: I quit my career in finance to opena 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 isall about problems.

2011: Launched ShopKeep POS in the App Store

Who is Jason and why should I listen to him?

A complete business management tool.

Front of house BackOffice

What is a POS system?

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?

How to choose the right system

Ease of Use

Customer Support

Adaptability and Evolution

Simple Pricing

Robust Reporting

Data Accessibility

Data Security

Quality Hardware

๏ What products give you the best margin?

๏ What are your best and worst selling items?

๏ Which customers are likely to beinterested in your new product?

๏ When should you reorder inventory?

๏ What products should be by the register?

๏ How many staff do you need in themorning vs. the afternoon?

๏ Which employees are performing the best?

Optimizing your store based on data

๏ 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

How to use your data 5 metrics that matter

1. Overall sales & transactions by hour Make informed decisions about opening hours and staffing.

2. Sales by employeeTrain and reward as appropriate.

3. Best and worst selling itemsFind the 20% of your products that are contributing

80% of your sales.

4. Tracking your marginsJust because it’s selling, doesn’t mean it’s growing

your bottom line.

5. Tracking your frequent customers I built my wine store business on tracking

repeat customers.

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 easilyaccess 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…

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 system5 questions to ask about the BackOffice…

General tips on running a great business

Don’t underestimate the cost of cash.

Never compete on price.You’re selling service, not coffee.

It is MUCH easier to lower prices thanto raise them.

Test before you invest!

Create your local presence on Google and Yelp - it’s more important now

than a website.

Do social media properly. Don’t limp in!

Capture emails from your customers.

Recruit and hire the best. Train them well - they are your in-store marketing.

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

The Simplest Way to Make Smarter Business Decisions