When talking about franchising, it is important to focus on the steps of starting a business, and all the upheavals that are induced by becoming a franchisee. The choice of the concept, the assembly of the financial file, the search for a premises, the preparation of the point of sale for the opening … These are all important steps that build the basis of what the franchisee’s daily will be. After that ? How to grow this activity you’ve launched? How to increase the turnover of your franchise outlet? Here are our tips.
To increase turnoverof a point of sale, the number of variables you can influence is important. However, the changes and the different interventions that you will carry out will be directed towards two main objectives: to increase the traffic at the point of sale and to increase the value of the average basket. And yes, to increase its turnover passes necessarily by an evolution of these two statistics.
Increase point-of-sale traffic and win new customers
Making your point of sale an important place of passage is essential if you plan to increase your turnover. How do you do it? Begin by identifying the types of clients who visit you.
The usual customers are your base, and have to be listened to in order for their loyalty to be extended over time. To avoid losing them, consider rewarding their loyalty with bonuses or cards. So that they feel important, do not hesitate also to probe them, to know their desires in terms of assortment (new products, withdrawal of certain references) and services (time slots, delivery system, take-away races) .
Occasional customers are more difficult to identify and by nature consume your products according to their own criteria. Do they come to your point of sale because they saw a promotional offer? Did they get a recommendation from a friend? Have they gone through total chance? Try to unravel the mystery and understand the reasons for their purchase, so that this one repeats itself. In a small store, a simple verbal exchange at the time of the sale or payment will have elements. Also use the questionnaire after purchase, and ask them a means of contact (e-mail, postal address, telephone) in order to add them to your base, to stimulate them a posteriori.
Potential customers are your greatest opportunity to conquer. Logically, the number of potential customers is much higher than your current base. To attract them, it is important to make you known. Targeted advertising, well thought-out event operations, but also communication on the web can help. Do not neglect your current clients who can serve as excellent ambassadors to those who do not know you.
Increase the average basket and make additional sales
Bringing more people to the point of sale is good. To sell them more products and thus increase the average ticket is even better. For your customers to slip into their basket ever more products, no choice, you have to act.
Expand the point of sale: if your premises are too small, the number of references proposed may be too low and prevent more purchases. The time to move has come. If you do not have the means to change local, then consider changing your furniture, with larger racks to increase the quota to reference meter. You will then feel like pushing the walls!
Modernize the place of sale: if it is not the size of the premises that is problematic, perhaps it is its development. Carrying out a restyling operation at the point of sale to bring more comfort to your customers, increases the turnover (sometimes by 10 to 15%). With the same logic as modernization, a relocation of a store (that is to say a better presentation of the offer) also brings its dose of change and generates an increase in turnover.
Rethink your product assortment: regularly, do not hesitate to remove product references that sell little, and to favor new products, especially if they have a good promotion (TV campaigns, posting, etc.). Put yourself in the shoes of the consumer, and verify that your point of sale offers several levels of price and quality for the same need. Also be sure to maintain a good stock availability, because there is nothing more frustrating than missing products in a department …
Develop your image as a specialist: do you possess real know-how in an area? Does your point of sale have a greater number and variety of references than competitors for a particular department? Capitalize on this image of specialist provided to have a real credibility (number of references, advice to customers).
Take care of the quality of your reception and services: the reception of the customer, the availability of employees, but also listening to the needs of consumers are essential. You already think of being a champion in these areas? So check it out by sending mystery shoppers who will be in charge of testing the quality of your point of sale. Sometimes, some surprises are waiting!
Increasing the turnover of its point of sale when operating duty-free requires efforts on the premises, the products, but also a whole range of areas much less concrete. Building a commercial success is above all a matter of testing, failure, numerous tests, in order to understand the data on which you can intervene for palpable results.