Showing posts with label cash flow. Show all posts
Showing posts with label cash flow. Show all posts

Wednesday, 20 July 2016

6 things that you don't know about mystery shopping (yet!)

Mystery shopping is exactly what it says in the tin - large parts of it remain a mystery. There are six key things that you don't know about mystery shopping. You need to know these before you set out to be a mystery shopper-

6- It can be tough to get started
Mystery shopping companies have to look out for their clients. They only want their best shoppers working for Thor top customers. Because of this you have to start from the bottom and prove yourself. Many mystery shop companies will only allow you to do one or two jobs a month to begin with as you build up your profile. This means or can be hard to get established as a mystery shopper.

5- There can be more costs than just the purchase
Although the mystery shopping company will reimburse your purchase (up to a point) and often pay you a few there are other costs to take into account. You will need to factor in in the cost of travelling to the location and any parking costs as well. You will find that many mystery shoppers try to carry out many mystery shops in one location to minimise this cost. You will also find that your average mystery shopper is an expert on all the free places to park in their local area.

4- You are self-employed
You won't be employed by a mystery shopping company. You will be a contractor that carries out work for them on an ad hoc basis. This has the benefit that you can work for many different mystery shopping companies at once. But it also means that you are self-employed and responsible for your relationship with the tax man.


3- Mystery shopping companies do more than mystery shopping
You will find other opportunities on the job pages of your mystery shopping companies. Audits snd exit interviews are common ones that I have seen. It does give you a bit of variety if that is what you are looking for. But beware when you are selecting an assignment that you have read the notes thoroughly and you know what is expected of you.

2- Get it wrong and you may not get paid
Mystery shopping companies will only get paid if the report you produce can be sent through to their client. Make sure you read all the notes carefully so you totally understand the expectations. For example, you may be required to purchase a particular product. If you fail to carry out the assignment correctly then you may very well not get paid, and be out of pocket.

1- You have to speculate to accumulate
With mystery shopping you pay out for the required purchases but it can be some time Becker you get the reimbursement back in your bank account. Many UK mystery shopping companies pay twice a month but with others it can be up to 90 days. Factor this in when you look at becoming s mystery shopper and you won't get s y nasty surprises.

If you are thinking about becoming a mystery shopper then my Amazon Kindle book is a great pace to start. It gives great advice like that found above and also talks you through step by step the way to become a mystery shopper-


Monday, 23 November 2015

See why you should consider becoming a mystery shopper

Mystery shopping is becoming more and more prevalent as retailers, financial services organisations and hospitality providers want to know what their teams are doing when they're not around to supervise or assess. The use of mystery shopping in many economies grows as multi-site operations take over High Streets, shopping malls and out of town shopping centres. Multi-site operators will want each site to offer a similarly high standard of service, so every customer knows what to expect on every visit. The operations want to be able to provide the same level of customer experience in their outlets whether they be in London or Birmingham, Portsmouth or Glasgow, and for multinational companies from Madrid to New York. And there are several different steps that one of these companies can take to facilitate this similarity of customer experience. Staff training is the same throughout the company to ensure that everyone gets the same resources to be inducted, initially trained and improve themselves. And this is where a level of communication comes in. The companies need to communicate their requirements to the team. And some of these requirements come through really well in the way they are mystery shopped.




The management teams are also trained to deliver training. By this, I mean that they can communicate the ideals of the company and ensure that all their teams understand what is expected of them. From this base level of understanding, the idea is that the distinct standards of service I mentioned above are carried out to the best of people's ability.

But people are human, ideals can sometimes get lost in the everyday buzz of work and not everybody has the same training, personal standards, motivation or understanding, and this is where mystery shopping can help out. It gives a framework for managers and their teams to set out their work day. A good mystery shopping programme should work hand-in-hand with the training and supervision that a company offers to reinforce the standards that they have - it leaves those on the customer-facing front line in no doubt about what is expected of them. In turn, it should leave the customers in no doubt about what the company stands for and what they can expect - no matter where in the country (or indeed where in the world) they visit and spend their money.

So, as large organisations develop a mystery shopping programme, they need mystery shoppers to help to fulfill this. And this is where you can come in, help and earn money. Mystery shopping is fun, exciting, rewarding and is valuable. This blog will help to make it all of these things and more for you. I will add background to the process, as above, and give you knowledge, practical advice, hints and tips to make your time as a mystery shopper as interesting and rewarding as possible. With the benefit of the background knowledge, you can alter your responses to the situation and be comfortable that you understand the impact and importance of the mystery shop work that you carry out.

I will help you to make a success of it and any successful mystery shopper will add value for the company, the mystery shop provider and for themselves. It is probable that you will make reasonable money for yourself by mystery shopping. It is possible that you can make yourself a living from mystery shopping, if you are dedicated and when you get yourself up to speed and established. You will need to register with a number of mystery shopping companies. It is a self-employed position, where you carry out assignments on behalf of mystery shopping company and then deal with your own tax assessments, and we will look at that in one of the chapters. All in all, I want you to share the passion I have for doing this. It's a passion for improvement and a passion for making money. Just about all of us shop for things that you could just as easily mystery shop for, even if it's for groceries, days out or for a meal. Mystery shoppers are needed for supermarkets, for attractions or days out and for restaurants or cafés.

Check out my book for more information-




Wednesday, 21 October 2015

See how I've been looking for more readers in new places

I've taken the mystery shop blog in the road a little! After three mystery shops today in a local city, I took some poster in to some student living accommodations to try to spread the word! I want as many readers as possible for my blog, as I believe passionately that good mystery shopping improves things for all customers. So I've started to try to expand the readership through looking at the type of people that may be interested in mystery shopping. I thought of students, especially when they've settled down into student life and found that money can be a little tough at times. I asked a some student accommodation blocks to pout up the following posters-


They are basic posters prompting people to take a look at the blog rather than anything aimed at selling. I want people to love mystery shopping as much as I do and take a look at what can be achieved by going out and mystery shopping.

If you are new to the blog from these posters then welcome, and I hope you find this interesting and useful. To my existing readers, I will continue to add ideas, hints, tips and the inside knowledge on mystery shopping.

If you are interested in mystery shopping, then please take a look at my Amazon Kindle book, which guides you through the process and gives lots of ideas on how to be a successful mystery shopper, all for less then the price of a Costa coffee.


Sunday, 18 October 2015

See how mystery shopping companies payment schedules can affect your cash flow

Mystery shopping companies pay their clients (you and me) on different schedules. This can have a large effect in how long it takes you to get your money back from them. And this can effect how much you use certain mystery shopping companies or what times of the month you use them.



These are the payment schedules of some of the companies I use-

Company 1
Pays twice per month, on the 15th (for shops conducted on 16th to end of previous month) and on the last day if the month (for shops conducted 1st to 15th of that month.)

So the longest you could be waiting for a payment is just under a month - from 16th August until 15th September, for example.

Company 2
Pays at the end of one month for all shops conducted in the previous month.

So the longest you could be waiting is just under two months - from 1st March to 30th April, for example.

Company 3
Processes payments as the jobs are confirmed as completed and pays 10 working days after confirmation.

Company 4
Pays once a month, on the 15th and if you're assignment is confirmed as completed on the 14th or earlier, then you're paid.

So the longest you could be waiting for a payment is a month - from 15th October until 15th November, for example.

So you may think twice about using company 2 towards the start of the month. You may try to do as many jobs just before the 15th of every month for companies 1 and 4. These timelines do start to affect when and for who you shop for. Waiting two months for payment, especially when you first start out. Once you are continually mystery shopping over a longer period of time, the money flows in as often as it flows out and these things even out.

It's all part and parcel of the world of mystery shopping and another piece of the jigsaw. Pulling together all of the different elements of mystery shopping helps you to become a mystery shopper-