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Hidden software features = more store profits!
Reprinted from the October 2002, NARTS
newsletter.
Many store owners use software to handle the day-to-day operations of their resale stores.
Typical software operations routinely include printing inventory tags, keeping track of
consignor account balances, providing daily sales and consignor reports, and even
providing a point-of-sale support. These critical functions, of course, allow store owners
to spend more time to interact with consignors, customers, and hire fewer employees. While
the benefits of such a setup are easy to understand, many store owners do not use all or
most of the features their software offers - often costing themselves money.
For instance, most popular software programs include a "what's hot" report which
can give store owners a list of the best (and worst) selling items in their store (and
associated percentages). This management report can be used to adjust prices or the store
locations of certain items to increase overall sales. Another feature which most programs
have is "buyers fees". Turning on buyers fees in the software allows store
owners to increase revenues by charging a handling (or tagging) fee for each tagged item
while still paying the consignor the desired split percentage. Lastly, some software
programs allow you to print a "comeback bucks" coupon on the bottom of every
customer receipt. This coupon is typically worth a percentage of the current sale if
redeemed within a certain time period, again, encouraging repeat visits and increased
sales.
You'd be correct in thinking that using even one of these features would allow you to
recover your software investment in a short time period (one ConsignPro user reports
making $2,500 / month in buyers fees alone!). My suggestion would be to explore the
"Settings" type screens to see what hidden features might be lurking in your
software - just waiting to make you more money with just a few clicks of the mouse! |
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Copyright 2003 Visual Horizons Software, LLC
Last revised: February 5, 2003
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