Convenience and petroleum stores face a significant increase in shrink during the last two months of the year. Some reasons are
When Quantum Services auditors walk into your convenience store, they take a mental snapshot. The things they notice often indicate the way the store is managed.
You, too, can learn to take mental snapshots of your stores. What you see will help guide you in making decisions about the overall operational quality of the store.
As a Manager of a convenience store, you have many responsibilities, including, keeping your store profitable. Yet, our research shows many store managers have not been trained in easy and effective ways to increase store profits by reducing shrink. In this Profit and Performance Impact you’ll find two areas that stunned experienced and rookie managers about how they are losing money. And, you’ll read what they are doing about it.
There is a lot to know about running a c-store! And no one can know everything, including c-store managers. Keeping stores profitable and customers happy, while minimizing shrink, is a constant battle.
Large increases in cigarette prices provide opportunity for dishonest store managers to steal thousands of dollars.
Ensuring that shrink measurement and shrink control programs operate at peak levels is an ongoing process. One way to give these initiatives a significant boost is to measure the service provided by your inventory audit team.
A number of C-stores with fuel service have noted an alarming increase in run-offs and drive-offs.
Most drive-offs are people who either don’t have the money to pay for fuel, or who steal for thrills. Gas thefts usually occur when the fueling area and/or the inside store are busier than usual.
Every week? Every month? Every 60 days? Quarterly? Inventory audit frequencies jump back and forth a lot these days – usually as ongoing experiments in expense control. Some c-stores are even trying to find out if using computer-modeled formulas can predict which stores will experience higher shrink, and thus need more frequent audits.