13. Sources of Inventory Shrinkage
*Data from University of Florida National Retail Security Survey Report
14. Sad but true….
Employee theft is responsible for
1 out of every 3
business failures in the USA
*Statistics from Michael G Kessler & Associates issue of employee theft in the work place
15. Sad but true….
66% of employees will steal if they see
others doing so with no consequences
*Statistics from Michael G Kessler & Associates issue of employee theft in the work place
16. Sad but true….
Employee theft was worth $120 BILLION
dollars last year
*Statistics from Michael G Kessler & Associates issue of employee theft in the work place
17. In fact….
For every $1 lost to employee theft…
It will take $20 of sales to recover it…
18. Last year, on average
you wrote off
$1029/location
every month….
19. How much are you writing off now?
Count 1-3 Count 1-3/
times/mth week
$583.63 $361.47
Count less Count 1+/day
Average
than 1/mth
$1,033.67
$751.29 $337.94
/location
/mth
26. Non-sellable…..how can it
reduce theft and write off?
Include non-sellable inventory on count sheets.
• Of the 60% of you using Non-Sellable….
• 65% of you don’t count that inventory
• That means overall, 85% of customers don’t use this feature…
32. Writes off only Select Communications
$152/month 46 Verizon Nationwide
“We hold each store accountable for inventory counts
of handsets as a part of the daily store routine. Counts
are reviewed by Regional and District Managers, and
any discrepancies are followed up on immediately. In
addition, we review inventory levels and aged handsets
on a weekly basis to make sure we move through any
potentially slow-moving inventory”
Bob Adams, CFO
39. How much do you think we would
have to increase our GP/Accessory
buy to sign him for a year?
$2.91
40. That’s a pretty big deal considering
this year Summit Attendees Sold…
You sold….7,648,943 accessories
If we all increased our GP by $2.19….
That would be an extra $16,751,185.17
41. And if we had increased it by $5.01….
$38
Million
42. And as a stretch goal…
If we all increased our GP by $5.01….
That would be an extra $38,321,204.43
47. Average GP per accessory is
$19.32 with 92% of their phones The Fone Zone
with compatibility setup 6 Sprint Locations in Huntly, IL
“Offering 4 to the floor (Charger, Case,
Battery & Headset), incenting our staff
correctly & having accessory contests.
Profit on accessories is hugely
important!
49. " Make customers obsessed with you
" Show your personality, customers need the
experience to be memorable if you want them to
return.
" Why send an email from a
donotreply@company.com? Encourage them to
email you. Build this into your sales flow.
" Anticipate Customer wishes. Show you care. The
cared-for feeling a customer gets when their
wishes are anticipated is where you can generate
fierce loyalty.
50. " You are collecting on average 13.74% of new
customer email addresses
58. " We’ve looked at all these things individually
" What does the accumulation of all of these
come down to?
" $$
" If you don’t care about the little things you cant
get to big $$
60. In the last year RQ4 clients
median GP was…
$190,356.20 gp/location in USA
$298,589.86 gp/location in Canada
61. And the biggest, wildest, craziest, best, most awesome
Gold Star
goes to….
62. GP per Location of
$642,767.18 Cellular & More – Novi, MI
5 Verizon Locations
““Cellular & More has defined a structure that holds our
staff accountable to achieve the company’s goals (KPI’s) at
the same time providing our staff with an opportunity to
create their own income level. We become partner with
the staff by sharing a % of all gross profit on every sale and
showing them every opportunity the company has to earn
money. We empower our staff to have total control of
their sales while maintaining the company’s values.”
- Dean Leja , VP
