In a recent case study by One Step Retail Solutions on Pump Station in Santa Monica, CA, the store increased its sales 20% in the last three years. A second store opened up 3 years ago in Hollywood, CA, watching sales go up 83%. Two more stores are being planned to open up this year, 2009.
Pump Station COO Cheryl Petran attributes their growth and continued success to point of sale technology which allowed them to forecast sales and manage inventory better.
With better financial planning and profit goals, Pump Station owners have been able to gain insight into what is going on in their business and use the reports to make the right decisions.
Ms. Petran feels they are out-pacing the economic downturn by forecasting smart and managing the inventory to her forecast. “Being proactive means forecasting, facing the reality of it and dealing with it,” said Cheryl Petran, COO of Pump Station.
“If you can really look at where you think you’re going to be and be realistic about it, then you can survive. I have a POS system with history that I can use for expansion. With our POS system we can quickly evaluate if our decisions were good or bad. I learned many years ago to manage your inventory smart and manage your vendors smart.”
Pump Station is continuing to expand their retail business, despite the changing economy.
Note: One Step Retail Solutions installed Retail Pro point of sale software, robust POS hardware, and hand-held scanners. The system is integrated with POS QuickBooks.