The average cost of a cloud-hosted voice-over-internet-protocol (VoIP) service ranges from $15 to $60 per user on a monthly basis. Other fees add to your VoIP expenses in the form of metered calls, types of phone numbers, number of users registered, premium call features (add-ons), hardware, and internet plan. In this guide, we’ll explore how…
Ultimate Guide
Retail Expansion: What You Need to Know to Grow Your Store
Perhaps you didn’t consider expansion when you first started your retail business—it can be intimidating to think about growth when you are just starting. However, retail expansion doesn’t have to be overwhelming if you approach it strategically. This guide will walk you through everything you need to know when considering retail expansion—from determining when the…
Painters Insurance: Cost & Coverage
Painters insurance is one or several policies you purchase to protect your business from the financial loss that can result from a claim. The two most common types of painters insurance are general liability, which protects your business against claims that your operations caused harm or damage to a third party, and inland marine, which…
IVR Containment Rate: Definition & How to Improve It
The interactive voice response (IVR) containment rate, a call center metric, refers to the percentage of calls the IVR system successfully handled without assistance from a human agent. A high IVR containment rate means the system was able to resolve customer concerns, reducing the burden on the human workforce and improving the overall call center…
Cost of Goods Sold: What It Is & How To Calculate It
Cost of goods sold (COGS) represent the total costs in making or purchasing a product. In simpler words, COGS is the amount you paid when you produced or purchased the products that were sold during the period. Selling costs like commissions are not part of COGS. Rather, these are recorded as part of operating costs….
How Much Are International Calls? What Small Businesses Need to Know
International calling costs vary based on the country you’re calling and the service provider you use. Voice-over-internet-protocol (VoIP) providers offer the cheapest per-minute international call rates, ranging from 1 cent to $1 per minute. They also have different international call plans for specific needs. In this article, find out how much are international calls, learn…
Set Up Your Cash Wrap to Drive Sales in 5 Steps
Cash wraps, also known as cash wells and checkout counters, are the areas in stores housing point-of-sale (POS) systems or cash registers where customers pay for their merchandise. A well-designed cash wrap can significantly impact your retail success and drive your business by increasing customer and employee satisfaction, driving sales, and building your brand. No…
How to Lease a Retail Space in 6 Steps
Leasing or renting a retail space requires careful planning, as the space you choose will not only be one of your most significant operating costs but will determine your location, product quantity, storage, and store layout. To effectively rent a retail space, you need to set a budget, look for a few quality options, and…