Week 4 Report (Emailed 18 April)
Save our local small businesses
Kia Ora, thanks for being part of the sos initiative. This week we passed some big milestones - firstly we hit $500,000 in sales, then $600,000 and still going. Wow. All your customers are so keen to support you.
Your community has banded around your business and the support has been overwhelming.
Welcome to those who are new - we send out a newsletter like this every week. We'd also like to welcome a new supporter - Kiwibank, who join ABC Business Sales in supporting the costs running the site. Thanks! (and we are always looking for more supporters if you are keen...)
Please read the information below (and in particular check out the request to 'Help Hack the Crisis' - they have only 24 hours!)
In this issue we will cover:
As at the time of writing (2pm Saturday the 18th April), here are the key stats:
Total order value: $630,000
Cafes / bars / restaurants etc joined: 1830
Vouchers sold: 25,000+
Average order size - $55
These are amazing results - the orders are flooding in. We had more media and advertising (see below) and that certainly helped as the data above shows, but we also know that when you put this on your social media it really makes a difference. Make sure you tag us in your social posts @sosbusinessnz
We've had a huge week, with three payment runs done this week. So far we have paid out over $460,000 to vendors bank accounts - half of that this week alone!
One thing I want to point out - we have to wait for a few days or more after purchases are made before the money comes to us, so we can't pay out immediately - we do it as quickly as we can because we know that you need the cash. And remember we are not charging anything for sosbusiness - ALL the voucher money (less the credit card fees) is going to you.
New Site FeaturesThis week we rolled out a few new features for the site:
- Love letters to locals - your customers can now leave messages of support for you directly on your listing. Check out the video snippet below.
- POLi Bank Transfers are now available for customers.
- We removed Paypal as a payment method as they were unable to reduce their fees (3.4% + 45c), they also held payments for too long and our goal was to get voucher revenue to our vendors as soon as possible.
Tips and Tricks
Frequently Asked Questions...
We keep a 'Frequently Asked Questions' section on the website - one for Customers, and another for you as Vendors, (and of course our Terms and Conditions)
We will continue to update that page with any questions that you might have. One common question we are getting is 'can customers redeem only part of a voucher - do I need to give them change?'
This is entirely at your discretion. We are just creating an easy way for you, the vendor, to sell vouchers to customers online and for customers to easily purchase vouchers from you via SOS (as agents). How you redeem and reconcile vouchers is up to you.
Maximising your Sales
We've also created a blog post on setting up and maximising your social media efforts on Instagram to ensure your customers know how to support you. Take a read here
Click & Collect
We have had a few queries about setting up a way for you to transact in preparation for a Level 3 scenario (whenever that happens). 'Click and collect' would enable you to open your business as long as customers can order online and then do a simple collection without getting close.
You would need to ensure you are sticking to the rules, outlined at https://www.business.govt.nz/covid-19/workplace-operations-covid-19-alert-levels/#e-21031
At Alert Level 3, you can sell any goods to customers by phone/online order and contactless delivery or collection. You cannot open your physical retail storefront to customers unless you are a supermarket, dairy or petrol station. Customers can also collect goods through drive-through or contact-less pick-up, such as click and collect, instead of delivery.
If you think you can physically do this, we have three options for you. You can find out more details on all of these on our website.
1. Shopify Click & Collect/Delivery - Offer contactless payments and pick up/delivery options.
2. Mobi2go - Fast-tracked digital ordering for restaurants.
3. Online restaurant - this business is offering a way for restaurants to start taking orders online.
We will be able to link your Click & Collect option to your listing on SOS.
Your help needed - Hack the Crisis!Exciting news! We are supporting GLOW, a team that is part of the nationwide initiative ‘Hack the Crisis’ which helps small businesses engage with their customers and get on the road to recovery. They have less than 24 hours to develop and refine their idea, and would love your help in shaping their solution. Fill out their quick survey at this link: https://forms.gle/Xyj56LhCrSPDxuFY8. Cheers!
Our new Vendor Portal is going well. If you haven't logged on, please head to our site for details on how to get access to see your business information, payments - and importantly the vouchers you have sold... and please read the help section there too.
We're adding new features to help out - we are planning to add a way you can track redemptions soon. Keep an eye out!
New Partners and Friends
We have partnered with a few like-minded people to help take SOS to the next level so that we can support small businesses around New Zealand better.
Kiwibank have got a range of initiatives to support you or your business, if you’ve been financially impacted by COVID-19, they also have guides to help you bank from home. For all other updates see their COVID-19 page.
Thanks to Kiwibank for your support of sosbusiness.nz!
- Cashflow management/forecasting (Excel forecast templates provided)
- How to effectively communicate with your bank and what documents they will need (checklist will be provided)
- Details on what government subsidy is available for your business
- Business valuations/appraisals Pre-Covid19 and Post-Covid19
- Exit strategies for your business and what is required to maximize value in this new environment
The ABC Business Sales team is a made up of experienced bankers, accountants and business owners who cover a number of languages including Chinese, Korean, Punjabi and Hindi and all of our staff have particular expertise in a number of sectors including Hospitality, Childcare, Accommodation, Retail, Import & Distribution, Transport, Healthcare, Industrial and Tourism.
We're proud to be sharing a special offer from our friends at Neighbourly that could make a real difference to your business right now.
Neighbourly is giving away FREE Premium Business Listings for 3 months (valued at $150). Staying connected on Neighbourly means you can keep in touch with your community while the doors are closed - introducing the team behind your brand, sharing recipes, offering expert advice and generally just being the friendly business your neighbours are happy to support.
You can sign up by heading to www.neighbourly.co.nz/businessboost