By John Lofstock, Editor Jim Collins, the renowned author of corporate culture bible “Good to Great,” wrote that good is the enemy of great. “And that is one of the key reasons why we have so little that becomes great.” In today’s competitive convenience store industry, your corporate values and what you stand for are…
Does Lowering Inventory Levels Truly Increase Sales?
By Bill Scott, founder of StoreReport LLC & Scott Systems Inc. I recently did an analysis on the inside sales of 16 stores over a period of 36 months (August 2012 – July 2015). Here are the results: Total Tenders: 21,263,310 Total Sales: $50,914,146 Total Individual Items Sold: 22,647,084 The details support my theory. I…
How To Find New Recruits
By Mel Kleiman, president, Humetrics A recent study conducted by the folks at LinkedIn found that for one-third (33%) of the people who’ve recently taken new jobs it was also a career change! So, if you’re not looking for new talent outside of your industry, it’s time to consider doing so. A client of ours…
How Data And Business Intelligence Tools Can Help Your C-Store
By Ed Collupy, executive consultant, W. Capra Consulting Group Put yourself in the shoes of the person who is looking for an answer! That’s just what Brandy Clark of Clark’s Pump-N-Shop did recently. You and members of your field team are on the road and are wondering how your stores are doing. You are having a…
Why Biodiesel Economics Are A Positive for C-Stores
Favorable blending economics, financial incentives, attracting new motorists and fuel diversity all add up for retailers offering biodiesel By Jon Scharingson, executive director, sales and marketing, Renewable Energy Group Inc. We all know that c-stores earn cents on the dollar for each gallon of fuel sold, despite what the general public believes. So anything that…
What Is Success? Maybe You’ve Got It All Wrong.
By Bill Scott, founder of StoreReport LLC & Scott Systems Inc. My friend George died penniless in a nursing home. He had dedicated his entire life as a pastor for several small churches. He touched tens of thousands of lives along the way. My friend George was a success. My father left my mother when I…
How Dramatic Changes Are Affecting The Retail Industry
By Bill Scott, founder of StoreReport LLC & Scott Systems Inc. Millennials and Generation Y consumers do everything with their tablets, computers and smartphones; and they subconsciously avoid entering areas that sever the links between them and their virtual world. But that’s just the beginning. The retail store of the future will be a lot different…
Thinking Through Shrink and Other Issues
With some inventiveness, c-stores can develop ways to manage their inventory. Effective inventory control doesn’t happen automatically. In fact, controlling inventory is somewhat of a misnomer that might be better termed: managing inventory—because of how difficult indeed it is to control. The landscape is littered with the remains of fired managers, dismissed district managers and…
A Word of Advice
Life’s not all about wine, golf and good times. Good business practices and fond memories have a place as well. By Fran Duskiewicz This past June marked my 30th anniversary in the convenience industry, so it’s not surprising that many memories are tied to my tenure at Nice N Easy. Here are a few pertinent…
Are Convenience Store Robberies On The Rise?
By Bill Scott, founder of StoreReport LLC & Scott Systems Inc. According to the latest statistics, robberies involving convenience stores have remained fairly steady, at about 6% of all robberies reported over the past few years, with a slight decrease in the 90s, mostly attributed to the development of better crime prevention methods. Repeat victimization however…