Retail technology provider Torex is launching an on-site training programme to show fuel and convenience retailers how to get the most out of their Torex point-of-sale system and grow their margins.
The Profit Clinics programme has been trialled with more than 60 independent retailers so far, and on average, the sessions led to a 2% increase in profits, equating to an average of £10,000 a year for each store.
One customer who undertook Profit Clinic training was forecourt retailer, Top 50 Indie George Hammond plc, which runs seven BP-branded sites in Kent, achieved a 2.5% total gross margin improvement in its initial and most successful store, and estimates that a 2% average will be achieved across all sites shortly.
John Ryeland, director of George Hammond, said: “The Torex Profit Clinics training has generated huge benefits across the business, both in terms of improving margins and helping us to get the most from our retail technology. It’s reassuring to know that Torex is willing to go beyond providing our technology and act as a consultant to help us improve our business.”
The service is delivered on-site to demonstrate how retailers can vary prices appropriately to optimise their cash margin and store profitability. The training session also aims to give retailers greater insight into the nature of their customer base and the local competition, helping them to set more appropriate prices and cater for local preferences.
Kevin Merralls, business support executive at Torex, said: “Many independent retailers are unaware of the extra benefits their POS can provide them. As part of our commitment to being a trusted partner, we are keen to refresh retailers’ knowledge about how these systems can be used to give them a greater understanding of their business, and ultimately boost profits. As the example of George Hammond shows, our customers have seen some fantastic, quantifiable results since undertaking Profit Clinics.”