By
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It’s obvious why a large store, full of hot-ticket items, needs round-the-clock, top-notch private security. But what about the local, corner store, whose average item’s price is $3.00, and its highest-priced item is $25? Wouldn’t the money spent on a private security guard offset any petty shoplifting?
This question is certainly worth asking, because after all, you would hire a private security guard because it would ultimately protect your assets, not increase your expenses without cost-benefit. Let’s look at the issues at hand, because hiring a private security guard isn’t just about keeping away petty thieves. What else is it about?
1) Calculating accurately. Most retail stores calculate between 10-20% of their budget for shoplifting. That means up to 1/5 of the budget is dedicated toward theft alone! Make sure that the cost of a private security guard is weighed against the shoplifting budget . Even when strictly looking at the bottom line, your calculations could show that a private security guard reduces the need for the so-called “theft budget”.
2) Reputation. Let’s say your store is robbed, and the community knows about it. What is that going to say to your customers, and potential customers? Will they feel safe to shop in your store, or might they wonder, “Petty theft today – and what tomorrow?” If you have a private security guard on the premises, you deter potential perpetrators and make your customers feel safer.
3) Heavier crimes. Petty theft is one thing, but leaving a store unguarded makes it more vulnerable to damage, violence, and robbery. While some people are keen on the “five finger discount”, there are criminals whose goal is to hold up the cashier at gunpoint, and take the thousands in the till. That’s no $5 item.
4) The Aftermath. Anytime your store is shoplifted, broken into, vandalized, or otherwise victimized, you and your staff are left to deal with the consequences. This emotionally-draining recovery period can take its toll on you and your employees, and is also often felt by your customers. Private security guards can allay the need for an “aftermath” because they help prevent incidences from occurring in the first place.
It’s not just about the weighing a private security guard’s wages versus any petty theft losses. When assessing whether it’s worth the money to hire a private security guard, consider the big picture and look at the question from a variety of angles. If you need assistance to determine your private security needs, feel free to contact ISSM.
