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Read More >>Are you a convenience store owner looking to set yourself up for success?
You may not realize it, but having the right point of sale system in place can make all the difference when it comes to running a convenience store business.
POS systems aren’t just about taking payments anymore; today’s best convenience store POS systems offer features that enable faster and more accurate transactions, as well as better inventory management and customer service capabilities.
What are the best POS systems for convenience stores? And which features should you look for? From inventory management to loyalty program integration, these POS features can help you grow sales in your convenience store and make your operations more efficient.
Running and opening a convenience store business is challenging, and that’s especially true if you’re trying to manage transactions without retail software.
Retail tools like a POS system or inventory management platform are necessities. And they help convenience store owners solve these two massive problems:
Retail loss prevention starts with being able to identify issues as they occur.
A POS system helps you do just that. Cashier reconciliation reports, for example, show you cash drawer variances, while daily reports can include features like number of voided sales, refunds, etc. Additionally, automated inventory count sheets, lottery and cigarette inventory tools, and improved inventory accuracy help to identify issues with retail theft.
Some FTx POS features that can help prevent shrinkage and theft include:
Convenience stores have thousands of products with low margins. The average profit margin for a convenience store is just 5%.
Common inventory problems – like out-of-stocks, spoilage, inaccurate inventory, or poor demand forecasting – can cut into these narrow margins. A convenience store inventory platform solves with features like these in FTx POS:
Ultimately, the best convenience store POS systems solve many problems in addition to these two. However, these two can have a significant impact on a business’s bottom line.
Top C-Store POS. FTx POS is a favorite point of sale tool for corner stores and tobacco shops. We offer every tool you need to scale: Tobacco scan data, barcode scanning, loyalty programs, digital signage and more. Request a demo today!
No matter the size of your business, you need an efficient way to manage finances and keep track of your sales. This is especially important as you scale and add stores or increase your store’s inventory.
Ultimately, the best POS systems for convenience stores can touch every area of the business: inventory, sales, theft prevention, timeclock and payroll, and more. Some of the best features to include are:
All of these features are available in FTx POS for convenience stores. And here’s a closer look at what these features can help you do.
The best point of sale can help you corner store business with:
Inventory management is a must-have POS feature, no matter your industry. In fact, nearly 80% of buyers of POS platforms cite inventory management as their main motivator.
Efficient convenience store inventory management requires accurate pricing and sales data. And this is what a POS system will help you do. First, you can store product and pricing data with convenience store pricebook software. Additionally, your c-store POS system will help you with:
The best convenience store POS systems make it easy to process card transactions. This is important considering a convenience store might process 500+ transactions per day.
So, how can you ensure your POS system processes transactions fast?
You might use:
Corner stores sell a lot of tobacco products, and any retailer that sells tobacco in volume should be applying for scan data tobacco rebates.
This allows select retailers to earn price promotions on tobacco products from manufacturers. These rebates can help c-stores offer competitive pricing, earn buydowns and incentives, and it can be a useful revenue driver.
Your POS system makes this possible. First, it allows you to capture the right reports, generate them automatically, and send them to manufacturing partners. Additionally, the POS system can be equipped with electronic age verification , which can help you maximize incentives, known as Age Validation Technology in the Altria program.
Convenience stores process a huge volume of card and cash transactions. Therefore, the best c-store POS systems include tools for enhancing security for these functions.
For example, if you’re using integrated credit card processing, you need a card processor that’s PCI-DSS compliant. Plus, a quality c-store POS system will include safety features like:
Loyalty programs can be a powerful revenue driver for convenience stores. For fuel convenience stores, for example, loyalty members spend 38% more annually on average, and they visit more frequently.
When the program is “integrated” into the register, that means you can manage the program with your POS software. In addition, you can enroll customers right in the POS, asking for a name, phone number/email. For convenience stores, some of the ways to include a loyalty program include:
The ability to manage employees at the register is important for growing businesses. This allows multiple stores to be monitored from a single corporate location or remotely.
Some must-have employee management features include:
To increase sales, your point of sale system must have the ability to gather crucial data, expedite transactions, and ensure speedy service. Some POS data analytics reports to explore include:
Top POS systems for convenience stores allow you to sync automatically with your accounting software. For example, FTx POS offers easily QuickBooks POS integrations. This imports much of your accounting data into QuickBooks to streamline accounting.
Additionalloy, you can use the data to build financial dashboards to monitor:
Managers will be better able to oversee the entire business and start making better leadership decisions as access to this data gets easier and they learn how to explore the information available through POS reporting .
An effective and versatile point of sale like FTx POS is crucial in the c-store business. We believe FTx POS is the best for corner stores, bodegas, smoke shops, and food marts. Here’s why:
Bottom line, FTx POS is great for convenience stores. Contact us today to learn how we can help your c-store business grow.
Request a demo. Chat with a POS expert today and learn how our point of sale platform can help you drive revenue and reach your goals. Schedule a demo now!
POS systems for c-stores help with transaction processing, inventory management, employee management, customer relationship management, and more. By automating tasks and providing valuable data, a POS system can significantly improve efficiency, accuracy, and profitability.
The cost of a POS system varies depending on several factors, including the size of your store, the features you need, and whether you opt for an on-premises or cloud-based solution. While there are initial hardware and software costs, the long-term benefits in terms of increased efficiency and reduced errors can outweigh the upfront investment.
FTx POS software starts at $99 / month per terminal. And building a hardware terminal starts around $600-$1000.
Consider the following factors:
The implementation time can vary depending on the complexity of the system and your store's specific needs. However, with proper planning and coordination, most installations can be completed within a few weeks.
Learn more about this topic. See these related posts on the FTx POS blog.
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