staircase remodel grayslake small master bathroom remodel eichler remodel chicago modular home remodel kitchen expansion into dining room .. Chicago Drug testing

Increase Your Profits with a Point of Sale (POS) System

Whether you operate a chain of restaurants, a mom-and-pop convenience store, or a medium-sized retail shop, you are in business to make money. And, one of the most critical aspects to your profit and loss is your ability to track information? you need to know which products are making you money, what items need to be re-ordered, who your customers are, and so on. This is where today's point of sale (POS) systems play such a valuable role.

In the not too distant past, retailers used mechanical cash registers to record sales onto a paper tape which then had to be manually transcribed into the company's accounting ledger. Later, electronic versions of cash registers were introduced which allowed business owners to track more of the data pertaining to each transaction (for example, management was able to track all sales and refunds by each cashier). Today, cash registers have evolved into modern computer-based point of sale systems, which let you track more information than previously imaginable.

Some of the ways that a point of sale system can help you increase your profits include analyzing your product margin, tracking sales, increasing the accuracy of your pricing, and maintaining customer contact.

As a business owner, you know how important it is to keep a close watch on the margin of each product since you want to focus on selling the things that make you the greatest profit. A point of sale system can help you quickly identify your greatest money-makers and make decisions about how much of each item you want to stock. (If you have a limited storage area, it doesn't make sense to fill it up with low-profit items).

A point of sale system also allows you to know, practically at the push of a button, how much cash you have in the till (and how much of it is profit!), the type and amount of each product sold that day, and how many items are still on the shelf. You can even set it up to automatically notify you when reaching the re-order point on any item.

With the advent of barcodes and barcode scanners, retailers now enjoy greater accuracy in the pricing of their products that ever before. If you need to increase the price of a "widget", you simply make the change in your point of sale system and all widgets immediately reflect the new price. Plus, your cashier or sales clerk doesn't have to guess what any product costs (which might cause you to lose money)? they just scan it and the correct price is automatically applied.

Marketing 101 tells us that an existing customer is worth a lot of money to a business owner because they are likely to buy from you again and again in the future (this is known as the "residual value"). Because of this, you should make selling to your existing customer base part of your marketing plan. A point of sale system lets you keep track of customer names, addresses, and purchase history? just imagine how you could use that information to generate more sales!

Hopefully by now it is clear that a point of sale system can help you track the information that is critical to your business success. This includes analyzing your margin, tracking each day's sales, increasing the accuracy of your pricing, and maintaining contact with your customers. Armed with this information, you can make informed decisions and take actions that are sure to increase your profits.

Brian Cook is a freelance writer whose articles on point of sale (POS) systems have appeared on many websites. You can find more of these at http://www.pos-free-software.com

In The News:

Freelance Tips: How to Cope with Spring Fever When Theres Work to Be Done

We all know how glorious those first warm days of... Read More

How To Get Slightly Famous in Print

Early in my career, I wrote an article for a... Read More

An Example of Business Automation - eCards with pizazz

The last time I spoke and went into a bit... Read More

Expanding your business.

Are you a small business owner who wants to expand... Read More

Lawyers Everywhere Telling Regulators What Laws to Make

The Federal Trade Commission decided to sit down and revamp... Read More

Going Public: The Process for Small and Mid-size Companies to Go Public

It's the dream of every person who starts a business... Read More

FTC Adding to the Franchise Rule

Last summer the FTC put forth a report and then... Read More

Alliances: What works, what does not

Why Alliances FailWhen do you know an alliance is falling... Read More

Start a Technical Writing Service

Technical writing services are employed to explain the details of... Read More

Going Public: Now that You Have Successfully Made the Transition, What Do You Do?

Ok, you have successfully accomplished your dream of being the... Read More

How Most Business Owners Sabotage Their Success

Owning a business is a challenging endeavor. If you're like... Read More

Personal Success - Take a Break from Business

Have Some Time to Yourself One of the most important... Read More

Franchisor; Ongoing Support and Ideas

Ongoing support for a franchise system is omnipotent. A major... Read More

Entrepreneurs and Franchisors Watch Out

New Franchisors and Entrepreneurs need to watch out as they... Read More

7 Card Tricks That Improve Your Personal Networking Power

CARD SHARK7 Card Tricks That Improve Your Personal Networking PowerThe... Read More

Mobile Detailing Expansion Considerations

Expanding your business requires you to take a good hard... Read More

Two Types Of Business Plan Cover Pages ? Which One Are You Using?

This is the tale of two business plans with very... Read More

Eight Ways To Improve Your Companys Cash-Flow ? TODAY!

Cash is the lifeblood of any business. As humans need... Read More

Five Simple Software Tips for Small Business Owners

The start of a new year is a time for... Read More

Old Data in Database Marketing Software

Database Problems in MarketingI have been working on a direct... Read More

When and Why YOU Are the Best Writer for Your Business Plan

WHEN you are operating or planning a small business that... Read More

When to Say NO!

When is it a good thing to say no to... Read More

Yeah, It IS Lonely At the Top

Sometimes when you run a business you feel as lonely... Read More

Sex Up Your Business Growth

A top executive called up me late in the night.... Read More

How to let go of your EGO

When does your ego get in the way?Let's go back... Read More

store led lights osram induction lighting Pete's produce ..
store led lights osram induction lighting Pete's produce ..