Liquor stores carry a potentially higher risk liability than many other businesses. Depending on the store and the offerings, the business may have to insure itself against potential liability if special events are held that include drink tasting. Is the liquor store protected against potential liquor liability laws? What about loss of business income if the store is temporarily closed or a license suspended? Let’s face it, liquor stores seem to be a frequent target of robberies and theft, is the store protected from losses due to theft? Obviously businesses have to carry liability insurance, BUT, are there steps you can take to help lower your exposure to risk? What if a simple solution to help minimize your insurance expenses is to utilize Alpha security products such as bottle locks?
You may be asking how the use of bottle locks could minimize risk and insurance costs. Were you even aware that Alpha security devices include protection for bottles? If you own a liquor store or a wine shop, you are probably already familiar with bottle security, but if not here is a quick description. Bottle locks come in a variety of shapes and styles, designed to fit over the top of wine and liquor bottles. If someone attempts to pry a lock off they risk breaking the bottle and spilling the contents. If an attempt is made to walk out the door and the building has an electronic article surveillance system, the alarm will alert store employees of an attempted theft.
What does this have to do with risk? Businesses are required to carry insurance, and depending on the type of business, the business owner may want or need to carry additional coverage. For example, a business that owns a vehicle to travel will need vehicle insurance. This may not be necessary for the business that does not require transportation of persons or goods. In the same manner, a liquor store may be at higher risk for robbery and theft than perhaps a bicycle repair shop. Property insurance for a liquor store may be necessary to cover losses due to theft, including liquor and wine bottles. Alpha security products could mitigate some of that risk, deterring would-be shoplifters from stealing and creating a business loss. And bear in mind, not all shoplifting is a single bottle being taken here or there. There are professional thieves that can cause significant financial losses to a store. They will come in, often in teams and distract employees and walk out with high priced bottles, sometimes doing this multiple times in one day. If a significant portion of your merchandise is protected by bottle security devices, most thieves will not want to put the time and effort into trying to force off locks and risk damaging the merchandise. They will find the store that is not protected and go there to commit their crimes.
Another potential risk for loss is from employee theft. No one wants to think their employees will steal from them but the fact is dishonest employees are out there. I have almost 20 years of loss prevention experience and I have learned there is no way to look at an employee and know they will steal from you. Sometimes they will steal simply because an opportunity becomes available to do so and sometimes they steal out of a felt hardship. Regardless of the reason, employee theft can cause even more loss than a shoplifter. Bottle locks can be a useful means to deter employees from stealing. They will be aware of the chance of setting off an alarm if they decide to try to remove a bottle from the premises.
By controlling your expenses, you can make your business much more profitable. Alpha bottle locks are one way you can cut your losses and save money on insurance. Protect your merchandise and reduce or eliminate the need to file insurance claims and add profit to your bottom line. See what bottle security products can do for you.
For more information on bottle locks contact us or call 1.770.426.0547