How is the New Clover POS System for the Mini-Mart and Liquor Store and is it Making Money?

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I bought the mini-mart and liquor store in January and it has been open for about two months now. The store has been bringing in way more sales than I thought it would but the costs have also been higher than I thought they would be!
We have the Clover POS system running now which took a while to get set up but is so much better than the Quickbooks system I could only access in the store. Now I can change prices, see inventory, and see the costs for each item.
Many things were not entered right before at the store and I have had to correct a lot! It has been good and bad but once we get running right I think it will be a winner!
Here is who we used to get us set up with Cover: www.firstaffiliates.com/affil...
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Опубликовано:

3 апр 2022

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Комментарии : 54

@bernzilla393 2 года назад

Excited to watch you dial it in!

@investfourmore 2 года назад

thanks!

@saraflores9601 2 года назад

Great to have a behind the scenes look at a store operation. Thanks.

@investfourmore 2 года назад

You bet

@bocamax 2 года назад

I'm going to leave a comment on every mini-mart video because they are so fun to watch. Call me crazy but like you, I think the figuring out the system, inventory, vendors, etc seems like a lot of fun. Work yes, but fun also.

@investfourmore 2 года назад

yes!

@patrick553 2 года назад

It’s only fun if there’s money to be made or else it’s just a waste of time. No ones getting rich off of owning a liquor store so hes just doing this for fun. Someone who had to actually live off of owning a liquor store would regret it real fast and be a lot more stressed out. It wouldn’t be “fun.” Its fun when its just a hobby.

@investfourmore 2 года назад

@@patrick553 the lady who owned it before me made a living off it for 20 some years

@bocamax 2 года назад

@@patrick553 If you watched previous videos you saw how even the sales in the first week were at least at break even. Mark showed how just having sales in the $1,500/day range was already a $100,000/year profit for a side project. Imagine when Mark hones that in. If he can get sales into the $2,500/day range, which he already hits on weekend, while maintaining a 40% gross profit average, he'd net close to $200,000/year cash without having to work at the store himself. Pretty easy money for a few months of startup effort.

@joannechandler4861 2 года назад

I know it’s the system you use…. BUT every time you say it or I see it in print ( like the notification ) I just got, I see POS and my first thought doesn’t go to your system LOL

@investfourmore 2 года назад

well quickbooks certainly was...

@denisebennett3144 2 года назад

Congratulations on keeping a small store open. So many stores close up and leave small towns devastated.

@investfourmore 2 года назад

👍

@cheskydivision 2 года назад

You should be concerned that no one is counting inventory as it’s coming in. Most things could be counted while still on the dolly. I guess I’m super old school running stores in the late 80’s. Every thing was manual. What kind of things have customers been asking for? Find local products like beer, wine, pastries even beef jerky.

@saadgt2009 2 года назад

Hey, glad you're getting things sorted out to your liking 🖖 Mark, how about looking around for a used gourmet food truck, park beside the store, and operate out of that? All the best, 🖖🙏🇨🇦

@investfourmore 2 года назад

Maybe we can rent a spot to one 😁

@TommysTanks 2 года назад

Nice work Mark.

@wealthyperson3108 2 года назад

Interesting experience Mark - install ATMs maybe or idk lol to attract some more customers. Thanks for video !! Very curious. Vape cartridges gonna be at least not bad addition to assortment.

@investfourmore 2 года назад

We have both!

@SawmillerSmith 2 года назад

Intersting stuff.

@investfourmore 2 года назад

agreed!

@awsomo53 2 года назад

Can you buy coke and milk from Costco or Sam's club on a weekly basis? I appreciate this video. It's nice seeing behind the scenes.

@shelleyzaragoza2195 2 года назад

If you can find lower prices to be delivered will help your store to draw in more customers. Ask the customers what they would like to see in the store.

@investfourmore 2 года назад

We do all the time!

@jasongates- 2 года назад

Part of me wishes I could get to your mini mart's town just to shop there.

@christmascandytree437 2 года назад

I've been there and it is a very nice small store

@investfourmore 2 года назад

@@christmascandytree437 thank you!

@marksmith4512 2 года назад

i know you were having problems with your scanner. How do You scan stuff in the system at the shelf or do you bring the products up to the register and scan them in?

@investfourmore 2 года назад

I found a wireless scanner!

@marksmith4512 2 года назад

@@investfourmore But what are you scanning it into? A tablet? the clover system?

@investfourmore 2 года назад

@@marksmith4512 clover

@vernonsanders371 2 года назад

Is there apartments upstairs

@robstephens 2 года назад

When someone pays with a credit card, what percent of the sale goes to the credit card company? Is it the same with debit cards?

@investfourmore 2 года назад

Debit card is much cheaper.

@valeriehopkins644 2 года назад

Loyalty programs are great. I'd be willing to pay a few extra pennies if there's a reward later. Come in for lottery and hey let me grab a drink and sandwich. Chips. Candy bar.

@investfourmore 2 года назад

👍👍

@Eric_In_SF 2 года назад

I think once you get everything set into your system you’re going to have a realization. And you’re starting to now when you notice how much Pepsi products cost. In my many forays into retail I quickly learned that it’s distributors and manufacturers that are really making the money. Retails get shafted. Also as far as serving hot food like pizza and sandwiches be prepared to throw away money (Which is usually A part of costs). Your state will probably tell you how long food can sit out under a hot lamp before it needs to be tossed. Also people aren’t gonna want to buy something it looks like it’s been sitting out all day. And of course if they get a surprise crunchy dehydrated sandwich that’s been hiding in foil they’ll never eat there again. I think I said it a few videos back but I would just avoid hot food all together.

@investfourmore 2 года назад

Pepsi is very affordable and has tons of cool programs. coke is expensive!

@MD-jo9mh 2 года назад

Great progress, and it's great that you have employees willing to use their time to help out, but "purchasing" is a job in and of itself (as is delivery).

@investfourmore 2 года назад

agreed!

@rogernatale6953 2 года назад

you need more shelfs at the back to make easier to control your stock and easier to count.

@hollyfink6168 2 года назад

Check the laws in your area about bringing things to the store to resell. You would be breaking laws in our state.

@investfourmore 2 года назад

I thought so too because the previous owner did it and I thought it was illegal. turns out it's legal here and many stores do it. If you show you have a businesses that resells you can avoid sales tax as well. Costco and Sam's have business accounts for stores like mine to resell as well.

@hollyfink6168 2 года назад

@@investfourmore Good! I was worried. Didn’t want you to get in any trouble!

@carguy4658 2 года назад

It is better to be making money, than to be hemorrhaging it.

@investfourmore 2 года назад

true!

@JohnSmith-xx9se 2 года назад

Glancing at those sales figures, it seem impossible that you'll ever turn a profit after paying employee benefits and compensation, depreciation, amortization, rent, utilities, insurance, etc.

@chadwygal2077 2 года назад

I hate to agree with you, but I do. My wife and I had a small store for a while and never turned a profit. However, I wouldn't put it past Mark to turn a profit though. He is on another level. The good thing is that he has the rentals upstairs.

@investfourmore 2 года назад

2k a day is $700k a year. we only need 1 employee working at a time.

@patrick553 2 года назад

He’ll turn a profit but he’s doing this as a hobby, not to get rich. No ones getting rich off of owning 1 liquor store in the middle of no where.

@chadwygal2077 2 года назад

@@patrick553 Unless the middle of nowhere turns into somewhere.