Natural Health is a store based in Ecuador that sells sports supplements, vitamins, and natural products. Its owner, Fredy, shares with us some insights about his business and his experience since they started using Loyverse.

How long have you been in business, and when did you start using Loyverse?

We started four years ago and have been using Loyverse for a year and a half. When we first opened, we managed the business using a computer program, but as we expanded to new locations, I needed a solution that could be used on tablets. That’s when I started searching for options and found Loyverse.

What made you decide to use Loyverse?

I was looking for a POS system that I could install on my mobile devices and turn them into sales points. With my phone in Loyverse, I can scan barcodes and record sales. For payments, I use Payone, a startup from Ecuador, and I added it as a card payment method that I can select directly from my phone. To process the payment, the customer follows a link, I confirm on the same phone that the payment has been made through the app, and then I select the payment in Loyverse. It was very convenient from the start.

How was your initial experience managing the Loyverse app?

It was straightforward. The explanations provided by the help center are pretty comprehensive, but the app itself is so intuitive that you can configure everything practically without needing tutorials.

Have you made business decisions based on the information provided by Loyverse?

Yes, with the low stock notifications, I can tell when stock is about to run out. I receive an email that helps me know when to contact suppliers or restock. Over time, I can forecast the stock for certain items. The Back Office information is crucial because, for example, before using Loyverse, I used to buy without control. If there were a promotion, I’d buy many units and end up with stock for six months. This wasn’t profitable, but with Loyverse, I can make smarter purchasing decisions. I can see the product rotation over a month. If I know that I sell 25 units per month, then it makes sense to buy that item during a promotion.

Is there a specific report you use most often to make decisions?

I always check the sales summary and sales-by-item reports because both show gross profit. The sales-by-item report also has the option to view the margin. With Loyverse, I check the gross profit daily. Since I have this information, I can use the profit margin data to calculate averages, determine when I can increase the price of a product, and create promotions for products that aren’t selling well. This way, I try to balance the gross profit.

What tool do you consider essential for your type of business?

I have two locations, so I need my employees to log in with different users because I can’t be in two places simultaneously. With the owner’s profile, only I can control everything. For example, cashiers can only process payments and give change. This feature is essential for the security of my business.

What advice would you give to other entrepreneurs about using Loyverse?

For any entrepreneur, it’s essential to know your revenue and expenses and manage information correctly because, without it, you end up making decisions without thinking. As I mentioned earlier, we can spend too much on supplies without considering long-term consequences, like promotions, and then get stuck with too much stock. Managing information and adapting to new technology is crucial today. You can do everything with your phone; with Loyverse, we don’t need to buy a barcode scanner; the camera of my device can be used. You don’t need to buy a computer or a printer because you can email receipts. Loyverse allows you to do all of this, and it’s a great help.

How has your experience as an entrepreneur been?

To ensure the business didn’t fail in the four years we’ve been operating, we’ve had good and bad experiences. The bad ones happened due to a lack of experience. We started the business with challenges but managed to overcome them, mainly by persevering despite not seeing profits at first. After the first year, we made profits, and I thought any business I opened would be the same, but that wasn’t the case. I made bad decisions; I opened many locations and had nine people working for me, and then reality hit. Not all businesses yield the same results, and not all employees are equally dedicated, so I had to close several locations. Now we have two stable stores.

What advice would you give to others to avoid making mistakes when managing their business?

First, I’d say that, like many entrepreneurs, our beginnings were tough, with just a few people. So, I’d advise carefully thinking things through before making decisions and analyzing the market you’re targeting. All the information you can gather about your business is valid and important for any changes. Finally, keep going, stay strong, and be motivated. From the moment I started the business, I knew I had to implement something automatic, especially for managing inventories, because we don’t always have the time or motivation to do manual calculations.