What members are saying...

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    After seeing many organizations I saw that SAASOA is very enterprising and are a core of the business community in and around Alabama. SAASOA is doing a lot of  good for the people in the community by doing many activities like Blood Camps, Health Fairs, Volunteering activities, Scholarships, etc. I am lucky to be a part of a group like this and I encourage my friends and community members to be a part of SAASOA.

    -Mahesh Batavia, Liquor Store Member, Mobile
  • In the nearly 2 years that we have been partnered with SAAAOA we have seen a growth in sales, profits and customer count in their group’s stores. The key to maximizing this is to become more seamless in execution,pricing and positioning. I am excited about the future with SAASOA and Coca-Cola.

     

    -Patrick Gueret, Coca Cola
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    SAASOA’s intention is to help their members and our community should support it by joining it. SAASOA is very committed to help our community and the financial profits are very substantial.

    -Haresh Patel, Multiple Store Member, Montgomery
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    Each and every member of SAASOA have their own voice. When it comes to making decision everyone is involved. We are like one big family!
     
    -Rocky Patel, Multiple Store Member, Saraland


  • The attention to detail and the constant striving to attain complete compliance by it's members is a true testament to the dedication the leaders of this organization have to it's success.  I am proud, on the behalf of Hackney, to be associated with such a successful and influential group such as SAASOA.
     
    -Marty Howell, H.T.Hackney
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    SAASOA has not only successfully brought the businesses together, but they have also brought the communities together.
     
     
    -Nishit Prajapati, Multiple Store Member, Ozark
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    My relationship with SAASOA has been a huge influence on my personal and professional life. Over the past years I have learned on their culture and values and how important solid relationships are. I truly believe that their passion for the community is genuine.
     
    -Mike Pritchett, GDC, Mobile

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A few years ago, it seemed everyone was tacking on a gas surcharge for most any product.

Delivery prices had gone up, and retailers and service providers were passing the costs along because well, everyone knew gas was expensive.

And for many businesses, that was the only time they looked at their margins.

A lot of advice has been given to retailers recently about how they must have a responsive website or app; they must ship and return for free; they must offer buy online, pickup in store and more for their customers.  Those programs are all giveaways that add costs.

Unless you’re Amazon with unlimited resources from stockholders, you’ll notice such costs have to be made up somewhere.

Here are 15 Ways to Increase Profit Margins For Retailers

  1. Increase prices. You can selectively raise the price of your most popular items to most effectively add to your bottom line.  You don't have to increase prices across the board. And remember, no one knows the price you pay but you.

  2. Narrow your focus. You can't be all things to all people. It's the difference between a restaurant with a menu of 200 mediocre items and one with twelve items that are outstanding. Consider how much profit you are making on your slower-moving items. Could that shelf space be devoted to quicker-moving, more profitable items? Yes!

  3. Limit the discounting. Without a plan, you’ll do anything to get money in the bank. I know one toy store owner who, when she had to pay bills, turned to Twitter to tell her followers they'd get 30 percent off if they came in that day. She thought she was brilliant. What she didn’t realize was that she was robbing herself of profit to pay her bills. She was teaching customers to simply wait for the next tweet. She needed a quarterly promotions schedule, and so do you.

  4. Cut waste. You want to get more done with who you have. Are there jobs you're hiring others to do that you could possibly complete with staff? Do you really need to pay a window washer, for example?

  5. Schedule employees to need. Do you have three people to open when you could use two for the first couple hours? On the other side, add staff if you are slammed every Saturday, so you don't make customers wait and lose them to a competitor.

  6. No overtime. Period. Don’t let hourly managers fill-in for lower-cost hourly employees. Use salaried employees if something comes up.

  7. Don’t schedule for the convenience of your employees. If all you need Vivian for is four hours, then give her four, even if she would rather work eight.

  8. Award extra hours based on merit. Grant employee requests for more hours based only on their average sale or number of units sold per customer, not simply on their request or need.

  9. Personally hand out all paychecks. When you personally see how much each staff member takes home, it makes costs real for you.

  10. Give bonuses when deserved. Pay bonuses that are proportionate to the amount of profit the business brings in rather than total sales numbers. Otherwise, you could be rewarding an Expressive or Driver personality type salesperson who discounts to make the sale, robbing you of the profit.

  11. Look for theft by matching inventory to sales. A restaurant franchise I know audits for internal theft by simply matching how many cups it receives to the number of drinks ordered.

  12. Cut vendors. When you buy more from fewer vendors, you'll often get a better deal on pricing, shipping, and dating. Ordering only a few items from a number of different vendors requires more bookkeeping and tracking, and you often pay top-dollar to try to meet each one's minimum orders. No one's items are that special.

  13. Combine your orders with other dealers to get freight and larger order discounts. Just be sure to decide ahead of time which of you will do what, and pay before delivery to avoid problems.

  14. Sell added value by bundling products and services. Best Buy's Geek Squad promises it can Fix any computer problem-anytime, anywhere. Of course it leaves off For a price. People don't want the hassle of figuring things out or screwing things up. Customers value their time and will pay for worthwhile services related to the products you carry. Selling added value is the way to a very profitable future.

  15. Fire unprofitable customers. Those who need a lot of hand-holding, always beat you up on price, or constantly call you with some problem take up a lot of time. If your company is large enough to evaluate this, ask your order desk or sales reps to provide their top 10 complainers and match them to the amount of profitable orders they generate. Even if they deliver large volume, if they don’t pass, tell them that while you appreciate their business, the costs to manage the account outweigh the profitability and you therefore must implement a price increase.

 

In Sum

The best times to evaluate your profit margins are after you’ve done a full physical inventory to see how much of your money is on the salesfloor, during the first quarter after the dust has settled from the holidays, and around tax time when you have a current profit and loss statement.

The key is to never be afraid to find ways to increase your profitability and to not ever assume improved margins only come by cutting staff.

Looking for more ways to attract customers and improve overall sales? I think we all are!

Finding new ideas on ways to improve your business can be tough. Mastering the basics is a good place to start. Hopefully you embrace and implement these tips!

1. Stand out from your competition

If your business looks like every other gas station in the area, than there is no reason for customers to visit your business over anyone else.

Standing out from the competition will improve your business in every sense and it will definitely increase sales and customers.

Try visiting and doing some research on the competition in the area. Find what their faults are and improve them. You can also look at their prices and try to beat them at your gas station.

The convenience store takes its name from its purpose and the products normally carried in stock. A convenience store can be a stand-alone store but is often part of a gas station, making it convenient for customers to purchase items while filling their vehicles with gas. According to the Illinois Department of Commerce, small convenience stores should ideally stock 2,800 to 3,200 items in as many as to 400 categories.

Eggs and Dairy Products

Many convenience stores stock basic dairy items, such as milk, butter. cottage cheese, sour cream and other cheese products. There will not typically be a wide range of brands on hand. Milk sizes will likely include pint, half-gallon and gallon sizes. Cheese products are often shredded. Eggs are also found in many convenience stores. Some convenience stores will also carry half and half or heavy cream.

Over-the-Counter Medications

Many convenience stores carry a range of over-the-counter medications that include aspirin, cough medicine, lip balm, sinus medication and throat lozenges. Sizes of these products vary. Sometimes there will be single doses of aspirin or other pain-relief medications available at the counter, but the store also may carry large sizes.

Dry and Canned Goods

Most convenience stores carry a range of bread products, including loaves of bread, hot dog and hamburger buns, and dinner rolls. There will typically be one or two brands on hand at most. Limited canned goods, such as soup, common vegetables, canned meat, chili and stew may also be found on convenience store shelves. Dry good items include limited bagged pasta and beans. Pickles, relish, catsup, mustard and mayonnaise are also stocked on convenience store shelves.

Meats

According to the Illinois Department of Commerce, "Convenience stores generally do not stock fresh meats or produce when located in a community with an independent grocer." This includes steaks, chops and chicken. You are more likely to find a wide range of lunch meats that include bologna, ham, pickle loaf and salami. Some convenience stores may also carry summer sausage products as well.

Drinks

Convenience stores will typically carry juices, cold and warm soda, coffee and energy drinks, and a range of alcoholic beverages that include several brands of beer and wine, if permitted by state and local laws.

Sweets and Snacks

Many convenience stores devote an entire section of the store to a range of candy products, both in single servings and bulk, chips, dried meat snacks, chewing gum canned puddings and sweet cakes. You will also find a variety of nuts as well. Some convenience stores may offer prepared sandwiches, pickles, nachos, fountain drinks and snacks designed to appeal to customers who visit the store hungry.

Additional Items

Tobacco products, batteries, foam coolers, plastic gas cans, flashlights, candles, windshield cleaners and cleaning fluid, transmission fluid and motor oil are some of the additional items that may be found in a convenience store because they are products consumers may need in an emergency or impulsively purchase because they happen to be in the store.

 

Credit: http://smallbusiness.chron.com/items-sell-convenience-store-13436.html