Continuing in our weekly series on what services we include in every Pawnshop Consulting packages, this week we are going to cover why we also include a Cost Savings Review with all of our clients. We feel this is so important for several reasons. First, there are companies out there where this is there full-time job and that alone tells you that every company regardless of the industry has cost savings available which means less profit for you. In fact, Mark from our team made a very successful and lucrative career out of this practice. Second, we want our clients to immediately see a return on the investment of what they pay us to come in and one of the easiest ways to do that is save them money. In fact, it is not uncommon for us to discover savings that are several multipliers larger than what our clients paid us before we even leave their stores! What kind of savings do you think we can find in your business?
What Kind of Costs are Reviewed?
In our pawnshop consulting, we plan to review everything that you give us access to. For example, we have found cases of embezzlement, theft, and other malfeasance totaling hundreds of thousands of dollars or more this way using our process of looking at the metrics and the cash flow of the business. There are always certain markers that alert us to these types of losses, and we know how to flush them out. Another common finding is the way you are spending money. We have done cash flow analysis and found out that companies have switched internet providers in all their stores and are still paying for the old services plus the new one and that costs them thousands each year. Another very common one that we see just about every time is that there are services that the average business is paying for, and there are better and cheaper vendors that they can use to save money and not worry about the service being worse or different. We know the vendors and we know what they charge, and we can guide you through those decisions. Next up, is staffing and scheduling. We can always find ways to save you money in this area and normally the cost savings in 30-45 days pays for itself and our services. The way you write your schedule is important, the way you pay your people is equally important and monitoring OT and lack of Productivity is vital. Lastly, and most obviously, we help you maximize your pawn balance, sales, aged inventory, service charges and more. The average store is leaving or losing tens of thousands of dollars on the table in this area each year. We can help. We hope that you agree that having a cost savings analysis done in your store is important and it just happens to be included in each and every one of our service packages! Contact us for more details or call us anytime at 727-580-5876.
