Torex training scheme helps convenience retailers boost profits by 2%

04 May 2011

Torex, the leading global provider of innovative, integrated technology solutions to the extended retail and hospitality marketplace, is launching Profit Clinics, a new on-site training programme for convenience and fuel retailers, showing them how to get the most out of their Torex POS system.

The programme has been trialled successfully with over 60 independent retailers so far. On average, the sessions led these retailers to make a 2% increase in profits, equating to an average of £10,000 a year for each store.

The Profit Clinic 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.

One customer who undertook Profit Clinic training was forecourt retailer, George Hammond plc, which runs seven BP branded retail sites in Kent. George Hammond plc 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. As the training is so quick and simple, it meant sites could stay open whilst it was happening, saving George Hammond plc time and money. Additional George Hammond plc staff have since been trained by site managers, showing just how simple and effective the training was.

Kevin Merralls, Business Support Executive at Torex explains: "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 plc shows, our customers have seen some fantastic, quantifiable results since undertaking Profit Clinics."

John Ryeland, Director, George Hammond plc, adds, "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."

Further Torex customers who have tried the training include Riverside Garage, Harbour Stores, Three Arches Services and St Blazey Service Station. Their testimonials can be found below.

Riverside Garage - Graham Hawtree
"Having bought the Torex IT system and attended the initial course it is all too easy to concentrate on the daily grind of inputting data and forgetting the need to monitor margins and Torex was able to graphically show the folly of this.

At a time when store overheads are increasing rapidly it is vital that all areas of the POS and back office systems are geared up to provide considered and healthy margins across the store. Thank you to Torex for visiting my business, I look forward to further visits."

Harbour Stores - Phil Cox
"I would like to thank you for the valuable help and advice. The Profit Clinic consultation and presentation was certainly one of the most valuable hours spent making me more aware of the Prism reports and how to gain a valuable insight into how each department in store is really performing and how to improve them. I'm sure any retailer could gain valuable information - the hour spent could turn out to be my most profitable this year. Thanks again."

Three Arches Services - Peter Dutton
"We have definitely seen an upturn since Torex visited in June, not only by percentage increase, but also in managing the system with the correct reports.

The Torex team live and breathe this system and their attitude has definitely assisted the shop manager and the site in general, no retailer should resist this training."

St Blazey Service Station - Charles Richard
"You may think you know your own shop, but you will be surprised. There are many ways in which you may not be pricing at the optimum to maximise profit. Being encouraged to think again about your customers, your local competition and your offer, you think more carefully about your pricing.

We recently changed our prices throughout the store and employed some of the strategies suggested. We had not kept up to date with all the price rises implemented by suppliers and found our margins on key lines had shrunk. It is too early to quantify the impact of the changes we made, but it is safe to say we should have looked into our margins earlier.

Invite Torex into your shop and you will be surprised at what they will find and how much additional profit they can make for you."

Find out more about the Torex Profit Clinic