5 Tips to Grow Your Mom and Pop Business
Small businesses are a vital component of the U.S. economy. While offering unique products, innovative retail concepts, and personalized service, small businesses often go unappreciated. National Mom and Pop Business Owners Day on March 29 is just one opportunity to celebrate the important contribution small business owners make to their communities. The following 5 tips are for savvy entrepreneurs looking to take a budding business to the next level.
- Capitalize on online sales. Consumers scour the Internet multiple times a day to find one-of-a-kind goods like yours. According to Internet Retailer, up to half of U.S. shoppers shop exclusively online, while a greater number choose to research a product on an E-commerce site before buying it at the physical store. If you haven’t supplemented your brick-and-mortar shop with an E-commerce platform, you’re missing out on higher walk-in traffic and an overall sales increase. This is by no means restricted to retail businesses. An online ordering platform enables restaurant customers to preview your menu and order ahead, reducing wait times and increasing the likelihood of repeat business.
- Integrate social media. Stay up to date on all the social media conversation around your business with a Point of Sale that integrates Twitter, Facebook, and Yelp. This way, you’ll receive instant notifications and can join in on the conversation in real-time, as well as make timely tweets on business offerings on the day they happen. Don’t forget to grow your email list as well with simple considerations like coupons for new subscribers and paper sign-ups at the register.
- Offer self-serve shopping. Kiosks are rising in popularity. Customers are drawn to their easy, do-it-yourself ordering systems while owners benefit from shorter lines and reduced overhead expenses. Self-serve kiosks that can be placed in the lobby, on the shopping aisles, or at the dining table are customizable for small businesses, from clothing stores to quick-serves.
- Improve security. According to QSR Magazine, employee theft accounts for nearly 75 percent of restaurant industry losses, and quick-serve employees with the greatest access to cash are the most likely to steal or handle cash carelessly. Meanwhile, millions of cardholders have had credit card data stolen by hackers who prey on vulnerable checkout systems. Protect your profits and your customers with safeguards like point-to-point encrypted hardware, serialization of every item you sell, and advanced video surveillance capabilities.
- Branch out. If your small business is successful, it may be a good time to open a second location. Do you have a reliable person in mind to run the second branch? Is there a particular region with unfulfilled demand for your product? Remember, branching out requires more than having the necessary cash flow. Several factors must fall in line, but with key variables in place, a thriving new venture awaits.
Is your business growing? No matter what your current size, Revel’s iPad Point of Sale offers all the tools you need, with the option to add more down the road. From social media integration and a customer-facing kiosk option to cutting-edge security features and an open-source E-commerce platform, it’s no wonder it’s been dubbed the “American Dream in a Box.”