subject: Control Losses When Starting a Dollar Store [print this page] Are you starting a dollar store? Then let's examine one of the commonly overlooked problems you will face. Let's examine loss control. Your very dollar store profits depend on being aware of the most common methods used, and then having the right tools in-place. While it is safe to say you will likely never bring losses to zero, a well designed and managed loss prevention strategy can make all the difference for your business. Losses can be detected and the cause remedied in-time to prevent further impact to your profits.
* Control the money.
Never allow cash to sit unattended. Put processes and procedures in-place to reduce your risks. Assign cashiers to specific cash registers each shift. Make sure two employees are present when opening or closing out their cash registers at the start and end shift. Prevent cashiers from using registers being used by others. Make each employee responsible for the accuracy of their own register.
* Install security cameras.
This is a cost overlooked by many when starting a dollar store. Yet security cameras can be one of the best start-up investments of all. Cameras should be positioned to provide a clear and complete view of the sales floor, offices and back room areas. Carefully aim cameras so they cover cash registers. You want to clearly see all sales transactions.
* Keep unauthorized people out of all non-public areas.
Keep no-exit doors locked. Install alarms in areas where money is counted and kept. It is important to also control employee use of outside exit doors.
In just seconds an industrious employee can stack cartons filled with dollar store merchandise and other items outside an unlocked back door where a willing accomplice can place the merchandise into their car and drive off undetected. No accomplice? No problem! The employee can also grab the merchandise after work and haul it away themselves.
* Always check prospective employee references.
Check references before each new employee receives an offer to come to work. Even though today's environment of not disclosing employment information slows this down, always check with former employers. Many will verify dates of employment and last position which provides a hint of the accuracy of the information being provided.
Losses can mean the difference between dollar store profits and losses. When starting a dollar store do everything possible to protect your business. Look for sales that are camouflaged. Be on the lookout for missing merchandise. Always look for new and better ways to protect your business and your employees. Make this a top priority.
