Small retail shops often skip hiring a security service to keep them safer. Why? Small budgets.
However, investing in security cameras alone isn’t quite as cost effective as you might think. Even smaller retail shops need to invest in a good security service.
An affordable service actually helps small retail stores earn more. So it’s a cost effective way to stay even safer and offer a better place for your customers to shop.
Shoplifting Happens Everywhere
It’s easy to believe that shoplifting only happens at heavily trafficked stores, but this couldn’t be further from the truth. Small retail shops often sell merchandise that can’t be found at other places. This makes them even bigger targets.
Plus, when a small retail shop is crowded, it’s much easier to slip away unnoticed. Contrary to popular belief, shoplifting is a spur of the moment crime most of the time. Only 3% consider themselves “professionals” and 57% of adults who’ve gotten caught say it’s hard for them to stop.
Simply being a smaller store doesn’t exempt you from shoplifting and trying to identify shoplifters isn’t an easy task.
Security Helps You Stay More Competitive
Small retail shops already have a tougher time competing against larger stores, especially on pricing. However, shoplifting or a reputation for security problems can cause prices to increase. While hiring a security service might seem too costly, it’s a good way to reduce security incidents and pricing. As a result, you get more customers, helping you stay more competitive.
Employees Could Be A Concern
You may trust your employees to keep an eye on the merchandise, but what happens when your employees are the problem? According to one report, employee theft is the biggest source of loss for businesses of all sizes. It’s a sad, but true statistic.
While you may want to trust your staff, having extra eyes is always a good thing. This means you can rest comfortably knowing that someone has your back. Security guards can watch your staff as well as customers to reduce overall theft.
Limited Staff Equals More Problems
Small retail shops have a unique problem – limited staff. A larger number of employees means more eyes watching the merchandise and doors. When you often only have one or two employees in the store, it becomes an even bigger target.
Security services add an extra person or two to help watch over everything, including the staff. If it’s not in your budget to having on-site guards, remote guarding is also an option to make better use of your security cameras with real-time monitoring.
Losses Hit Small Retail Shops Harder
Larger stores have a bigger cushion against losses and reputation damage. Imagine if your small store had a major security incident. Would you be able to recover or would it damage your reputation beyond repair? Even losing a small percentage of business could be enough to put you out of business.
The same goes with shoplifting. Larger stores absorb losses much easier. They might still raise prices, but it’s not enough to make them go in the red. Smaller stores feel small losses like a sledgehammer. It’ll affect them immediately and regular incidents could easily ruin a small business owner’s dream in no time.
Security services are an investment against loss. Think of them as just as important as choosing the right location, marketing, store layout and pricing. When everything comes together, you get an unbeatable combination. Plus, you’re able to show your customers that you care about their safety and security just as much as any larger retailer.
Contact BOS Security Today
Think your store is perfectly safe the way it is? Try our Security Needs Assessment to identify your shop’s unique security issues. It’s completely free.
Do you have questions about securing your store? Find out more about small retail security today by calling us at 404-793-6965. We’re always happy to answer any questions you might have.
Image: Ashim D’Silva