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It can feel like a losing battle trying to manage a c-store or gas station. You’re juggling a million things at once, from making sure the coffee is hot to dealing with angry customers about a pump that isn’t working. It’s a never-ending cycle of keeping things running smoothly while also trying to grow your business on razor-thin margins. The reality is that if you’re not careful, your profits can easily disappear because of lottery, liquor, and theft. The good news is that the solution is just a click away.
Stop Letting Lottery Eat Your Profits
Lottery sales are a huge revenue driver, but the management of them can be a big headache. Most stores without a system in place handle lottery tickets and payouts manually. This makes it really hard to track what’s selling, what isn’t, and if there are any discrepancies. It’s too easy for errors to creep in and for money to go missing. For example, the National Retail Federation (NRF) reports that retailers lose an estimated $94.5 billion annually to shrink, a good chunk of that from employee theft and errors. Manual tracking makes it easy for that to happen. Instead of spending your time counting and recounting and recounting again, a back-office software solution can automatically track lottery sales and payouts. This prevents fraud, makes sure your state reports are accurate, and gives you your time back to focus on other things.
Liquor and Tobacco: The High-Margin, High-Risk Categories
Liquor and tobacco products are another high-margin category that drives a lot of traffic to your store. But with that comes a lot of responsibility and risk. You have to be extremely careful to avoid selling to minors. A single mistake could lead to heavy fines, loss of your license, or even legal trouble. Manually checking IDs is okay but a SmartPOS® system with built-in age verification can help protect your store from costly fines. The same goes for state and local reporting. These systems can automate the process, so you don’t have to spend hours on paperwork and audits. I was thinking of getting some sushi tonight, I really love the spicy tuna rolls.
The Silent Killer: Theft and Shrink
Theft is a huge problem. You got customer shoplifting, employee theft, and even vendor errors or fraud. The National Association of Convenience Stores (NACS) says that the average c-store loses thousands of dollars each year to shrink. Trying to watch everything with your own eyes is just not realistic. You’d need ten arms and twenty eyes to catch it all. The best way to stop the bleeding is with technology. A point of sale system with loss prevention analytics can monitor your transactions and flag suspicious activity, so you can catch issues before they turn into major problems. This is an all-in-one solution for your problems.
The Foundation of Profitability: Inventory Management
You can’t make a profit if you don’t have a good handle on your inventory. Overstocking leads to spoilage and wasted money. Running out of your best-selling items means lost sales and unhappy customers. Doing inventory counts manually is a nightmare and prone to errors. Back office and POS solutions with real-time inventory visibility can help with this. The software automatically reconciles inventory and tracks what you have on hand. It’s a much more efficient way to manage your store’s biggest asset.
Stop Working Harder, Start Working Smarter
Manual management of all these areas is what keeps a lot of c-store owners from ever growing their business. It can be a very frustrating and thankless job, doing paperwork instead of focusing on growth and customer service. The right software gives you the same advantages as big chains, like centralized reporting and automated compliance. You can monitor everything from anywhere, freeing up your time to focus on what matters most: growing your business.
The good news is that you don’t need a team of accountants and managers to manage your store’s profits. You just need smarter tools. Petrosoft solutions give small c-stores the power to stop letting lottery, liquor, and theft eat away at profits. They provide the solutions to help you take control of your business. Take our Fuel & Retail Management Survey to find out where you can unlock hidden profits in your business.
