why your small business needs a point of sale
DESCRIPTION
Does your business really need a point of sale system? Of course it does! If you're looking to start a new small business, you shouldn't miss this inspiring deck that demonstrates the power of the right point of sale technology.TRANSCRIPT
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The Small Business Data Revolution is Happening Now Why you need a point-of-sale system to help you growJason Richelson, ShopKeep POS
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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 is all about problems.
2011: Launched ShopKeep POS in the App Store
Who is Jason and why should I listen to him?
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A complete business management tool.
Front of house BackOffice
What is a POS system?
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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.
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.
Why should you use a POS system?
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How to choose the right system
Ease of Use
Customer Support
Adaptability and Evolution
Simple Pricing
Robust Reporting
Data Accessibility
Data Security
Quality Hardware
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๏ 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
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How to use your data 5 metrics that matter
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Overall sales by hourMake informed decisions about opening hours and
staffing.
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Sales by employeeTrain and reward as appropriate.
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Best and worst selling items Find the 20% of your products that are contributing
80% of your sales.
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Tracking your marginsJust because it’s selling, doesn’t mean it’s growing
your bottom line.
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Tracking your most frequent customers
I built my wine store business on trackingrepeat customers.
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1. Is it easy to learn? Training needed?
2. Is it an open platform? 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 system5 questions to ask about the register…
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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…
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General tips on runninga great business
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Don’t underestimate the cost of cash.
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Never compete on price. You’re selling service, not coffee.
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It is MUCH easier to lower prices thanto raise them.
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Test before you invest!
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Create your local presence on Google and Yelp - it’s more
important nowthan a website.
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Do social media properly. Don’t limp in!
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Capture emails from your customers.
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Recruit and hire the best. Train them well - they are your in-store marketing.
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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
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The Simplest Way to Make Smarter Business Decisions