3 Ways Security Camera Systems Offer Businesses a High ROIAugust 15, 2019
Receiving a high return on investment (ROI) is vital to running a profitable business. If companies place too much available funding into something that isn’t going to give a high ROI, they will eventually go bankrupt because funds will only be going out, without any inbound cash flow.
A security camera system is a solid financial business investment that produces a high ROI which may not be immediately apparent. How does a security system earn you money? It doesn’t necessarily earn any money, but it could potentially save a fortune. Below we discusses a few different ways that security camera systems offer businesses a high ROI.
1. Stops Products from Being Stolen
It is an unfortunate reality that people shoplift. The items that thieves try to steal could range from a few dollars to a few hundred dollars, and shoplifting occurs much more often than would be assumed. In fact, more than ten million people have been caught shoplifting in the last five years, and even more were never caught.
Some business owners might be wondering what the big deal is if someone steals a small $5 item. Is that really worth the investment of a security camera system? Consider that one person stealing a $5 item just once a week equates to $260 in lost profit annually, while someone managing to steal a $5 item once daily equates to $1,825 in lost profit annually. Most companies will likely fall somewhere in the middle of these.
2. Allows for Lower Product Prices
The primary way stores try to recoup the lost profit from theft is by jacking up their prices. To remain a successful business, it is necessary to have more incoming funds than you pay out. This is just good business sense.
The customers who frequent your store don’t see it that way, however. While this is unfortunate, raising prices can drive a lot of your customers away. Even charging an extra fifty cents on a single item that someone frequently purchases could deter them from frequenting your store. By stopping the thefts from occurring with a security camera system, you can keep your prices low and your customers happy.
3. Offers Peace of Mind
It is difficult to concentrate and focus on your business when worried that someone might shoplift or, worse, rob the cash register. With the peace of mind offered by a security camera system, you and your employees are better able to focus on the task at hand…. Which, of course, is running a successful business.
Not only will productivity levels be increased, but it is likely that employee satisfaction will be raised. This is because your employees will feel safer at work, knowing that a robbery is highly unlikely, thanks to the security alarm system you had installed.
Security camera systems offer businesses a high ROI which makes them a worthwhile investment. Although it isn’t a direct inbound cashflow, the indirect cashflow and money saved is incredibly high.