October Patriot Capital Industry News
25 Great C-Store Designs
CSP has been highlighting new trends in convenience stores and how they are evolving to meet the ever changing customer needs. Experts break down why the designs are successful for 5 different types of c-stores:
- Food Service focus
- One-stop-Shop
- Stay Awhile
- Store Within a Store
- Upscale
Card present transactions account for 80% of card fraud and breach. More than 50% of merchants do NOT survive a breach, or suffer disruptive changes. Jon Bonham, Coalfire
Why Wait? No Payments, No Interest Until 2018!
Patriot Capital's Why Wait program allows you to upgrade your site this summer, and have no interest or principle payments until 2018.
The program applies to all C-Store and fueling equipment, including gas pumps, image upgrades and underground storage tanks.
The promotion applies to all brands of equipment, installation, shipping and taxes for upgrades and new sites ordered by Nov. 30, 2017.
6 billion SMS messages are sent each day in the US. Via SMSEagle
Plan Now to Capture Section 179 Tax Savings in 2017!
If you are considering purchasing new capital equipment, including tank upgrades and EMV kits and pumps, Section 179 allows you to capture the full tax depreciation benefit in the year of acquisition and installation. To get this 2017 tax benefit, equipment needs to be installed and operational by December 31, 2017.
Utilizing Section 179 can have significant cash flow businesses to your business. There is also discussion that Section 179 may not survive the proposed Trump tax overhaul, in which case it may not be available for 2018 purchases.
We all want to find ideas on how to improve our businesses, tackle tough projects or be more effective. INC magazine’s list of 12 ideas for finding inspiration and clearing your head may hold the key to helping you tackle your next challenge.
4 Ways to Improve the Customer Experience
NACS data reports that 48% of consumers come inside when they visit a C-store. Four tips to increase this number at your site:
- Modernize your canopy and forecourt design
- Maintain cleanliness - outside and inside
- Promote in-store offerings on the fuel island
- Optimize customer service
44% - the amount of customers who are buying food from a c-store more often than they were two years ago. Shopper Insights via CSPDaily
Be Vigilant About New Type of Skimmer - Using SMS Text
Over the past few years Bluetooth skimmers have become crooks preferred operating mode for stealing card data. A new form of skimmer that avoids detection by sending SMS text messages is coming into use, and can be harder to detect. We encourage you to maintain an active pump security program to monitor your pumps for unauthorized activity. Krebs reports “Fraud patterns show fuel theft gangs tend to target stations that are close to major highway arteries: those with older pumps; and those without security cameras, and/or a regular schedule for inspecting security tape placed on the pumps.
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