• Recognize potential theft sources, such as employees or shoplifting, and equip businesses with proper security measures like surveillance cameras and electronic locks.
• Train employees on security measures, including identifying suspicious activities, locking up after closing hours, and reporting unusual activities to management.
• Install proper lighting to create visibility and deter potential thieves. Invest in alarm systems and motion sensors for additional protection.
• Utilize cashless payments, such as credit cards or digital wallets, to reduce the daily cash you’re handling.
Running a business that attracts a high volume of customers is an exciting feat, but it also comes with challenges. One of the most significant challenges is ensuring your establishment is secure from potential theft. The time and work invested in building a high-traffic business could be well-spent if you secure it against theft. According to a study, an estimated $22.9 billion in losses due to theft occur annually in the US alone.
If you’re one of the fortunate business owners that haven’t experienced theft yet, it doesn’t mean you’re safe. There are still measures that you need to incorporate in your business establishment.
Types of Theft
Awareness of the different types of theft will help you formulate an effective security strategy. Here are some of the most common types of theft that you should watch out for:
Employee Theft
It is one of the most common kinds of theft. It can come in many forms, such as stealing cash, merchandise, or confidential information. An employee who gets away with theft can cause considerable financial damage to your business. Employee theft usually happens due to a lack of proper security measures, inadequate supervision, and insufficient employee screening.
Shoplifting
It involves stealing from retail establishments by taking small items without paying for them. It’s typically done in busy stores with high-traffic areas or where the staff needs to be more vigilant. Shoplifting can also be an organized crime if multiple people steal expensive merchandise or items in bulk.
Robbery
It is a violent theft involving physical force to steal cash, merchandise, or other valuable items from a business. Robberies can be planned and executed by an individual or group who may have prior knowledge of the establishment’s layout and security measures.
Security Strategies
Now that you know the different types of theft, it’s time to implement security measures to help protect your establishment. Here are some strategies you can use:
Install Security Cameras
Installing security cameras is one of the easiest and most effective ways to secure your business. The emergence of modern security cameras and technological advancements has made installing them more affordable than ever. By putting up security cameras, you can keep a watchful eye on both the customers and employees while also monitoring for suspicious activity.
Install Electronic Locks
Locks are essential for securing any establishment, and electronic locks by Magnalock are the ideal choice. They offer keyless entry as they open with a code or electronic key instead of a traditional key. These locks are made with high-quality materials that can withstand forced entry attempts, ensuring your business remains secure. Additionally, those with only access to the code or key can only enter, making it more difficult for unauthorized personnel to gain entry.
Conduct Background Checks
It is essential to conduct background checks on any new employees before hiring them. Hiring the right people is crucial to keeping your business secure as it limits the possibility of an inside job. Background checks help you identify individuals with a criminal background or a history of theft-related crimes.
Keep Cash Secure
One of the easiest targets for thieves in a high-traffic business is cash. It is crucial to ensure that the cash register is locked securely and that the daily cash is regularly deposited in a safe or secure location. Keeping the cash register empty overnight and investing in a high-end safe go a long way toward cash security.
Train Employees on Security Measures
Your employees are essential to the success of your business, and they can also play a critical role in ensuring your establishment is safe from theft. Train your employees on security measures such as how to identify suspicious activities, how to lock up after closing hours, and the importance of reporting unusual activities to management.
Ensuring Proper Lighting
Poor lighting can create blind spots for security cameras, making it difficult to detect potential theft. It also provides an opportunity for thieves to sneak around undetected. Proper lighting can be a deterrent for potential thieves, and it also helps to provide better visibility of your establishment, making it easier to identify suspicious activities.
Additional Tips to Prevent Theft
Invest in alarm systems and motion sensors.
- Post signs warning potential thieves of the consequences of theft.
- Regularly inspect your property for any suspicious activities or items that may have been left behind.
- Utilize cashless payments to reduce the cash you’re handling daily.
- Utilize facial recognition technology to monitor customers entering your establishment.
Operating a high-traffic business comes with unique challenges, and theft is one of them. By following these security tips, you can ensure your establishment remains safe and secure from theft. It’s essential to take the necessary precautions to protect your business now to continue running successfully in the future.
