CBIZ Sattler Adventure Sports Blog

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Ward, Hayden
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Retail Store Risks and Rewards

Outfitter Store Risks and Rewards

Owning and operating an outfitter business can be a fulfilling experience. Years of hard work, risk-taking and financial investments have allowed you to turn your dreams into a reality. When your property has the space and allows for an actual storefront with gear and branded merchandise… even better! The thought of happy customers representing your business’ name and branding is exciting! However, many business owners don’t realize how many exposures they must address to keep their retail side of business operating smoothly.

Depending on the specific type of store you manage and the items you offer, there are several exposures to consider, including risks related to property and product liability, crime and business continuity. The following provides an overview of these risks and more, helping you identify potential blind spots in your risk management and insurance programs.

Backup Plans Are Essential

Your outfitter business depends on functioning equipment to service customers effectively and to help stay organized. In the face of an equipment breakdown (e.g., power outage, your point of sale system goes down), your operation could experience a business interruption or even a prolonged closure. Make sure to always have a backup plan if something does go down and train your staff on it. In a digital age, card readers, tablets and computers can go down without any warning.

Safety Comes First

Premises liability exposure is high due to the number of visitors walking in and out of your outfitters. To prevent slips and falls, there should be adequate aisle space. All goods should be kept on easily reached shelves so customers do not pull items down on themselves. Shattered glass from broken items must be cleaned up quickly. Flooring must be in good condition with no frayed or worn spots on the carpet and no cracks or holes in the flooring. Leave the fun, steep paths to your guides! Steps and uneven floor surfaces should be prominently marked. Sufficient exits must be provided and well marked with backup lighting systems in case of power failure.

Be On the Lookout for Crime

Crime is a challenge for everyone however, it’s very common in retail stores. Business owners can have products stolen or damaged by shoplifters. In addition, crime exposures can also come from employee dishonesty and loss of money either from holdup or safe burglary. Background checks should be conducted on all employees handling money. To reduce your chances of a safe burglary, have a separation of duties between the person handling deposits and disbursements and reconciling bank statements

Shoplifting can become a costly problem for any business. According to the National Association for Shoplifting Prevention, over $35 million worth of merchandise gets stolen from retailers each day. All employees should also be trained on how to detect potential shoplifting behaviors, such as:

  • Shopping in a large group of people
  • Not making direct eye contact with staff
  • Carefully watching employees’ movements but avoiding interaction with them
  • Acting nervous and appearing disinterested in-store merchandise
  • Frequently glancing at store exits
  • Carrying numerous other shopping bags, purses or backpacks to easily place stolen merchandise into
  • Spending a significant amount of time in one particular area of the store


Check the Product Dates

Your customers expect you to have safe and reliable products, and failing to meet these expectations can lead to huge financial losses. If your operation sells sunscreen, snacks and beverages, make sure to check the expiration and best by dates. If one of the products you sell harms a customer in any way, they can sue your business, leading to costly legal fees and settlements. While you may do everything in your power to ensure your products (e.g., goods and foods) are safe, mishaps can still occur.

Adventure More. Worry Less.

Put that on a t-shirt! Spend more time outdoors and less worrying about the risks associated with your business. While no system is 100% effective in ensuring an incident-free workplace, consider these tips and secure the correct coverage to feel more confident. Get the protection you need today and request a free CBIZ Sattler Adventure Sport Insurance quote.

This blog may contain scenarios that are provided as examples only. In an actual claim situation, coverage is subject to the terms, conditions and exclusions of the policy issued. The information provided is general in nature and may be affected by changes in law or the interpretation of such laws. The reader is advised to contact a professional prior to taking any action based upon this information.

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4 comments on article "Retail Store Risks and Rewards"

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Thanks for the reminder about how if you don't deliver on your consumers' expectations for safe and dependable products, you risk suffering significant financial losses. This is great because I've been thinking about how opening a retail store with Japanese products can be an exciting venture for entrepreneurs who are interested in bringing unique and high-quality items to the market. I'll surely look back into this article when I decide to open my own retail store with wholesale Japanese-style room shoes and the like. Thanks. https://morihata.com/collections/morihata-best-sellers/products/_case-pack-sasawashi-room-shoes-grey?variant=13338287865879

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Thank you. loved this retail store

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Thank you. loved this retail store.

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dollar general survey

Share feedback about the shopping experience at the Dollar General store on https://dgcustomerfirst.blog/ site, and get a chance to win a $100 reward. This is my all-time favorite retail store in the USA.

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CBIZ Sattler Adventure Sports Insurance, a division of CBIZ Insurance Services, Inc., is the largest insurer of adventure sports businesses in the United States. As part of an $850 million New York Stock Exchange traded company (CBZ), we developed a policy coverage to meet the needs for those in the recreation and outfitting industries. Our policy is underwritten by an A.M. Best Rated A++ (Superior) company.