Loss prevention tips for retail business owners

As a retail business owner, you can protect yourself against lawsuits, theft and vandalism by following these steps.

Protect your property

Never store combustible material, such as cardboard or paper, near heaters or electrical equipment and remove combustible waste on a regular basis. Avoid overloading electrical outlets, particularly in older buildings equipped with fuses instead of circuit breakers.

Limit the amount of cash in the till by using a safe or money-limiting device.

If your store is open long hours, consider installing closed-circuit television cameras and hold-up alarms.

Make regular bank deposits but vary the timing of the deposits and the route taken.

Install anti-shoplifting devices and surveillance equipment or keep high priced merchandise under lock and key in display cases.

Make sure the front, rear and interior of your business premises are well lit, particularly when closed for business.

Protect your customers and staff

In sprinklered buildings, keep stock more than 46 cm (18”) below the sprinkler heads, so as not to interfere with the system’s effectiveness in the event of a fire.

Keep all of your stock off the floor, stored on skids, shelves or racks.

Arrange the interior layout of the store so that the till area is clearly visible from the exterior of the building.

Ensure that safety features such as fire alarms, exit signs and emergency lights are operational and serviced according to applicable fire code specifications.

Do not block exits with stock or equipment. Ensure that all exit doors are unlocked during store hours

Contact the staff at our local office for more loss-prevention tips.