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8 Tips you should follow before opening a new store?

Opening one more store is a very critical decision in the life of a store owner. From one store to two stores, is a big leap! But if you don’t think beforehand, things can go wrong. Here is a Checklist to see if you are ready to expand:

1. You have a good software such as GOFRUGAL installed.

Having a POS software is a sign of a progressive thinking on part of the retailer. But there is a difference in a POS Software and a Good POS Software. Market leaders like GOFRUGAL, not only provide a POS, but cover entire chain of operations – buying, operations, stock take, inventory management, mobile POS, analytics and reports to name a few. These tools make your life – owner’s life easier so that you can think about expanding. With such software, you can manage your ever expanding chain easily. It helps you in standardising the operations and reduce cost of running the store. Read more

2. You spend more of your time on purchase.

When you have to go out to the market for procuring the goods or have to spend more time with the Sales person of distributor, there are chances that you understand and love trading. It also means you have more time at your hand. If your systems support you, you can delegate even the purchase function and start managing multiple stores rather than just one store. Analyse Path to your Purchase

3. You are happy to have an employee doing billing and handling cash.

As a owner of a single shop, you think only you or a family member should handle the cash. But when you have an employee doing the billing and cash handling, it’s an indication that you have developed processes and are trusting your POS system for control. If you can be away from Galla (cash box in Hindi) at one store, you can easily replicate the same in case of multiple stores! Need Easy & Fast billing ?

4. You have a mobile app to check store billing data and CCTV real time.

Having a real time oversight on your store is very important. When you delegate to the staff, how will you keep control becomes an important issue. GOFRUGAL provides a mobile app which can give you continuous status of store transactions. Coupled that with CCTV feed to your mobile, you can have a real time peek at the store anytime from anywhere. An App that lets you talk to your business

5. You know which reports to look every day, week or month. Or before placing order on the supplier.

Your POS generates lot of reports. Each report or dashboard has a certain function. If you have mastered the art of reading the report and make decisions based on the data, you are a man destined to grow into a large chain owner! Find out how ?

6. You give receipt for every sale, even if customer is buying just a pack of biscuit.

Every retailer who has a POS does not mean that he has evolved in his thinking. Retail is a business for disciplined people. When you say: I issue bill for every transaction that means your inventory is up-to-date, your cash will tally at the end of the day and you will have less pilferage at your store. With the evolved thinking coupled with discipline, no one can stop you from opening more stores. A POS that fulfils your needs

7. Your staff knows the checklist for Beginning of the Day and End of the Day.

After discipline comes the processes. That is Standardisation of processes. That is everyone in the team knows the processes to be followed by heart and you have system to keep check on the same. A research says, a store manager has to perform more than 50 unique tasks on any working day. It is very difficult to remember all of them and the sequence to be followed. Good systems remind you and help you in Getting Things Done! When you open a new store, you have to just replicate the same processes (with necessary changes) at the new store. That’s the secret behind the success of modern trade.

8. You know how much stock at hand, ordered and spoiled.

Knowing your stocks means you know what is available to sell. You know why your customers come to your stores. Your job is to maintain availability of goods. Stock out is a denial of service to your customers. More stock, especially slow-moving or non-moving, means your working capital is locked. Your ability to get more fresh goods gets compromised in such cases. If the damaged or spoiled or expired goods are still seating in the stores means you are not giving enough attention to return the goods to vendors or liquidate in case you are not able to return. The shelf space occupied by such goods is at the cost of fresh stuff. When you know exact stock numbers, that means all your systems, processes and discipline are working in harmony. Some more food for thought

Go and open one more store now. POS that helps you do that

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