It’s been two weeks since the 2021 NACS Show and we’re still feeling the excitement around Gilbarco Veeder-Root’s Express Lane Self-Checkout System. With the overwhelmingly positive response seen at NACS, an incredible deal has been put together to help more of you start your self-checkout strategy.
With the support of Patriot Capital and Gilbarco Veeder-Root, take advantage of limited-time 0% financing for 12 months to qualifying business owners who purchase Express Lane.
DO THE MATH
Self-checkout has been proven to combat labor shortages and mitigate labor cost savings when implemented for just two hours a day.
Express Lane is a solution that pays for itself. Here’s a quick rundown:
GET STARTED
With this limited financing deal, you no longer have to worry about the upfront financial investment, so you can start focusing on the exciting part – implementation plans.
Upgrade your site with Gilbarco Encore 700s and Patriot Capital
Your customers are looking for secure payments and a great fueling experience. You’re looking to maximize profits and minimize costs.
Now’s The Time to Get Both!
Apply today for quick approval. Financing rates apply to all orders received by March 31, 2019 with shipment by June 30, 2019.
1. Additional terms may apply. Contact us at 1.800.451.4021 for more information and additional program information. 2. Participation in program requires credit approval by Patriot Capital. Program may be altered or terminated prior to March 31, 2019.
If you have any further questions, would like to talk about financing options, equipment upgrades or to place your order, do not hesitate to contact us at 1.800.451.4021 oremail uswith your inquiries.
The John W. Kennedy Company appreciates your business and continued support!
Does Trump’s Tax Plan Mean Higher Costs for C-Stores?
President Trump has announced one of the largest tax cuts in history. The changes will impact most American businesses, including convenience stores.
The planned reduction of taxes proposed for “for corporations, small businesses and partnerships of all sizes” is the headline story. At the same time, the maximum personal income tax rate is proposed to be 35 percent and the number of personal tax rates would drop from seven tiers to three (35 percent, 25 percent, 10 percent).
Considerations for your business include:
lower tax rates mean higher after tax costs for equipment due to lower depreciation
if the Border Adjustment Tax comes into effect, higher prices for imported components and equipment
Three Factors to Consider When Purchasing Convenience Store Equipment
Chris Santy, President of Patriot Capital, shares some key points that need to be considered when deciding whether to invest in equipment upgrades in this article.
When making any investment decision, the first consideration always should be the return on your investment (ROI), Santy’s article discusses three important ROI concerns to consider:
What is the cost of the equipment or investment?
What will the equipment earn?
What could happen to make the return on investment different than expected?
Patriot Capital offers a variety of equipment financing options for C-stores, fuel marketers and jobbers. To get a quick quote, or find an advisor near you, visit the Patriot Capital website or call (877) 527-0383.
NACS Survey Reveals What Fuel Prices Would Trigger Driving Changes
Fuel customers will change their driving habits to decrease their fuel consumption once gas prices reach $3.37 per gallon, according to a new NACS Consumer Fuels Survey. The price would have to hit $4.43 before consumers will drastically decrease their driving.
The price of gas also affects how consumers think about broader economic issues. Other issues the survey explored include expectations on future fuel prices, generational differences in consumer attitudes, and consumer perceptions on the reasons for fuel price increases – the good news is they don’t tend to blame the fuel retailer.
Dirty Pumps, Restrooms Cited Among ‘Four Sins of Fuel Retail’
Filthy gas pumps, malfunctioning card readers, unwelcoming stores, and dirty restrooms are cited as the top “Four Sins of Fuel Retail” in a recent editorial by industry strategist Norman Turiano.
Cleanliness at the pumps tops the list. Turiano points out that female consumers are especially reluctant to touch a visibly dirty pump, and this can drive away business.
Dirty restrooms make customers question overall cleanliness, and particularly. wonder about the healthiness of on-site prepared food. Does your site have the right focus on the ‘Four Sins’?
Consumer Optimism Remains High Despite Fuel Price Increases
Consumer optimism is at an all-time high despite rising gas prices, according to a NACS National Consumer Fuel Survey. NACS reports that 61 percent of consumers feel optimistic about the economy, the highest number in the 4-year history of the monthly survey.
Drivers remain optimistic despite the fact that a majority of gasoline consumers expect prices to increase in the next month. Slightly more than half of all Americans report they expect prices to be “much higher” or “somewhat higher”, while only 9 percent expect prices to drop.
Traditionally, rising prices result in decreased consumer optimist. Four years ago, when 85 percent of Americans said that gas prices had increased, 41 percent were optimistic. However, gas prices were more than $1 per gallon higher in 2013 than they are today.
The John W. Kennedy Company appreciates your business and continued support!
The following article was written by Richard Browne of Patriot Capital for www.cspdailynews.com. Read the original article here.
ATLANTA — There was a collective sigh of relief on Dec. 1, when Visa, followed quickly by MasterCard, announced a shift in the forecourt gas-pump liability date from 2017 to 2020. I believe there also was a smile in some boardrooms, as retailers that already have invested see an opportunity to capture gallons and inside sales.
Industry reports suggest that about 33% of dispensers in the market are capable of processing payments to Europay MasterCard Visa (EMV) data-security standards with either a software or small hardware upgrade. This represents dispensers installed since 2011, when both Wayne and Gilbarco started shipping “EMV-ready” dispensers. Both manufacturers are reportedly close to or have released the required software to enable EMV, and there’s high probability that many networks will be processing EMV from pumps by mid- to late 2017.
So what?
Consumers are quickly becoming used to using a chip card. They are aware of the reason for it: increased security. Crooks are aware of EMV, and can quickly identify fuel dispensers that have—or don’t have—EMV payment enabled.
I believe we’ll see two things happen:
Consumers will shift their buying behavior to EMV-enabled gas pumps, starting in 2017. A high percentage of your customers have had one of their cards breached in the past and want the most secure transaction possible. In Europe and Canada, which have completed their implementation, retailers saw gallons shift to “secure” EMV sites from those that hadn’t yet been upgraded. Switching costs are low in our industry; it’s very easy for a customer to drive another block for a safer experience.
Criminals will have a shrinking number of sites to target. About 10% of dispensers are replaced each year. This suggests that, with no acceleration in upgrades, more than 50% of dispensers will be EMV-enabled in 2018, and 70% in 2020. The crooks have got to eat, and they will have half the sites to target that they had in 2015. Combine this with EMV implemented at restaurants and retail, and the potential places to commit card fraud becomes a small target.
Gray Taylor, executive director of Conexxus, said that Visa and MasterCard’s delay announcements appear to not clearly delay liability for retailers who experience higher fraud rates or those accepting foreign-issued cards. “We don’t see this announcement as a true game delay, but a bit of breathing room,” he said.
It is important to review your fraud liability with your processor, and understand Visa and MasterCard’s plans and how increased fraud may affect you.
It’s highly unlikely that we’ll see the liability upgrade deadline move again. With the installed EMV base naturally approaching 80% or more dispensers, the arguments that caused the date to move have less sway, and all other U.S. payments markets will have been EMV-enabled for five years.
Waiting will get more expensive. It’s generally anticipated that the new administration’s economic plans will result in higher inflation and interest rates. Combine this with promised lower tax rates, which effectively reduce the benefits of capital depreciation and makes equipment more expensive on a net-cost basis, and increases in labor costs, and waiting will be expensive. For multisite operators, the change in bonus depreciation from 50% today to 30% in 2019 and 0% in 2020 can have a significant cash-flow impact.
Competitors that have upgraded to new pumps will have enhanced marketing capabilities that the newest pumps provide. Video screens and contactless payment provide marketing options that can increase adoption of customer-loyalty programs and drive more traffic into your store.
The bottom line: Delaying pump EMV upgrades means potential market-share loss and higher fraud risk for your site. Consumers—and crooks—will know who’s made the move.
The John W. Kennedy Company appreciates your business and continued support!
Get ready for EMV and enhance your experience! Patriot Capital has two great financing alternatives from Gilbarco they’d like you to know about before the next price increase:
Gilbarco Bundle $2000 Financing Rebate.
Gilbarco has launched their Fall bundle promotion, providing bundle savings of up to $13,500 per site. Customers who utilize the Passport / Encore 700 4 crate bundle and who finance with Patriot will receive a $2,000 rebate check after final funding.
Don’t Make a Payment Until 2017
Order the Encore 700 S to be eligible for no payments until January 2017 on the dispensers and related installation costs. If you are financing with Patriot, order now to, other than a one month security deposit, make no additional payments until 2017.
Taking advantage of these promotions provides you with many benefits, including:
an enhanced customer experience at the pump and the opportunity to grow your station’s sales with Applause TV
being EMV ready on the forecourt
purchasing ahead of future price increases
capturing Section 179 tax benefits to create cash flow advantages* (tax disclaimer at bottom)
* Please consult your tax advisor for advice regarding your particular situation. Patriot Capital does not provide tax advice.
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It’s been two weeks since the 2021 NACS Show and we’re still feeling the excitement around Gilbarco Veeder-Root’s Express Lane Self-Checkout System.
American businesses, including convenience stores.
$3.37 per gallon, according to a new NACS 
top “Four Sins of Fuel Retail” in a 
Consumer Fuel Survey
