Ways to Prevent Theft in Your Retail Business

Theft is a serious problem for businesses of all sizes. According to the National Retail Federation, retail businesses lose an estimated $15 billion to theft each year. Other companies are also vulnerable to theft, with losses totaling billions of dollars.

Although there is no guaranteed way to prevent theft, there are some measures you can take to deter thieves and protect your business. Take a look at some of them here.

1. Install security cameras and alarm systems

One popular and effective way to deter thieves is to install security cameras and alarm systems. This will make it more difficult for thieves to break into your business and help you identify and catch them if they do. These days, most security systems are very affordable and easy to install, so there’s no excuse not to have one.

You can also find systems that automatically report suspicious activity to the police, which can help lead to the arrest of thieves. These are often called “crime watch” systems that allow you to work with your local police department to watch your business and prevent crime.

2. Use secure door hardware

Another way to help prevent theft is to use secure door hardware. This includes things like deadbolts, strike plates, and door reinforcement kits. These products can make it much more difficult for thieves to break into your business, and they’re relatively inexpensive to install.

EPT or electric power transfer door hardware is a good option specifically designed to resist forced entry. It’s used by businesses and homes worldwide and can be an effective way to prevent theft. They’re not too expensive, and they’re easy to install.

3. Keep an eye on your employees

Unfortunately, employee theft is a very real problem. Employee theft contributes to more than $50 billion in losses each year for businesses in the United States. Keeping an eye on your employees can help prevent this from happening.

You can monitor your employees in several ways, including security cameras, time cards, and GPS tracking. If you have employees who handle cash, it’s essential to keep an eye on them. You can do this by installing a cash register with a built-in camera or using a drop safe.

It would be best if you also had the policy to deal with employee theft. This will help you take quick and appropriate action if it does occur.

4. Keep valuables out of sight

Displaying valuable items in your store can be a temptation for thieves. If possible, keep valuables out of sight. This includes things like cash, jewelry, and electronics. If you must display these items, keep them in a secure area, such as a locked case or cabinet.

A durable safe is also a good option for keeping valuables secured. You can keep it in a backroom or office, and it will help prevent theft if your business is broken into. Choose a safe that’s the right size for your needs and has a good fire rating. You should also find one that you can bolt to the floor or wall for extra security.

5. Train your employees

Your employees are your first line of defense against theft. Be sure to train them on how to prevent and deal with theft. This includes things like proper security procedures, how to handle cash, and what to do if they see someone suspicious.

Create a theft prevention policy for your business, and ensure your employees are familiar with it. They should know what to do if they see someone stealing, such as calling the police or confronting the thief.

It would help if you also considered having your employees sign a theft prevention agreement. This contract states they understand the policy and agree to follow it. This can help deter employee theft and can be used as evidence if it does occur.

6. Use security tags

You can also use security tags and alarm systems to deter thieves. These devices can be attached to items and will sound an alarm if they’re removed from the store. They’re simple to use and can be an effective way to prevent theft.

Many retailers use security tags, and insurance companies often require them. Be sure to read the instructions carefully before using them, as they can be difficult to remove if not done correctly.

7. Use good lighting

Thieves often target businesses that are in the dark or have poor lighting. This is because it’s easier for them to go unnoticed. Be sure to use good lighting inside and outside of your business.

This includes motion-sensor lights, security cameras with night vision, and lighted signs. Good lighting can deter thieves and make it easier to catch them if they steal.

Theft is a significant problem for many businesses, but you can help prevent it from happening to yours with the tips provided above. By taking some simple precautions and being aware of the risks, you can keep your business safe from thieves.

Published by
Barry Lachey
Tags: Theft

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