In this exclusive interview with Sohail Modi, the visionary behind Modisoft, he discusses his journey from a small convenience store owner to creating innovative back-office software that revolutionized the industry. Discover how Modisoft stays ahead with personalized loyalty programs and seamless self-checkout kiosks, providing a truly convenient customer experience.
Q: Modisoft was started when you were operating a convenience store and just trying to make ends meet. Can you describe how the company was founded and why?
In 2005, I founded Modisoft in the back office of my small convenience store; it started as a passion project. As the store grew, manual paperwork, biweekly payroll and inventory management started to become overwhelming, and that’s when I realized I needed a better process. So, I taught myself coding and developed Modisoft, a back-office software that allowed me to streamline my inventory, eliminate paperwork, and make sure my employees were paid accurately and on time. That was always important to me. It changed the way I ran my store. The software worked so well that I started offering it to my friends and other c-store owners for free. Eventually, a few of the owners sent me unsolicited checks to pay for using it, simply because the software had made their business so much easier to manage.
As the back-office software increased in users, I started getting requests for more features, which became costly. By the time I decided to create Modisoft, the Back-Office Software Company, we already had about 2,000 customers. Through the years, Modisoft has grown to offer the complete technology stack needed to successfully operate a c-store. Our goal at Modisoft is to continue to revolutionize the industry by offering all the features a c-store needs to be successful, all in one place. Even with the rapid growth of Modisoft, I still enjoy the title of convenience store owner.
Q: Many convenience store retailers own other businesses outside of their c-store, whether it be a restaurant, a liquor store or café. What kind of software functions should a c-store retailer look for if they have multiple businesses?
The number one software function that retailers should look for is multi-business management. In today’s world, many people like to talk about diversification, which is essential for a business’s security. As retailers expand their businesses, they adapt to trends, so having a software that can manage various kinds of businesses is essential. With a Modisoft back-office subscription, every Modisoft subscriber receives a POS system. We believe that providing an all-in-one solution helps customers grow their businesses.
Q: Foodservice is the cornerstone of many successful convenience retailers, but when a c-store sees an increase in foodservice business, its POS systems may not be able to keep up. What gives software the ability to grow with a company?
Software needs to be robust enough to handle convenience and foodservice. Both kinds of businesses are high-traffic and need many features. The number one aspect that allows software to grow with a company is innovation. Software should also be able to handle day-to-day convenience store needs and with a click of a button manage foodservice technology. For example, fuel management is essential for convenience stores to ensure enough fuel is available while a KDS is an essential tool for foodservice businesses to deliver customers’ orders on time. Modisoft allows you to run both convenience store operations alongside a foodservice business within the same software with the single click of a button.
Q: What trends do you see percolating in the convenience store industry, and how does reliable and effective software help retailers capitalize on these trends?
The main trends we are seeing in the convenience store industry is an increase in personalized loyalty and self-checkout kiosks. Convenience store owners are turning to loyalty programs to not only boost traffic but also provide an incentive for customers to come to their stores. Today, people want reasons to encourage their purchases. Cartzie allows users to not only create personalized campaigns and text messages but also enables them to provide promotions, coupons, rewards, digital punch cards and much more.
Kiosks are on the rise too because many customers don’t want to wait in line to purchase an item, so there is an opportunity to provide intuitive customer service by giving the customer what they need. Many foodservice businesses also have kiosks in place to take and fulfill orders quickly. Kiosks are putting more convenience into c-stores.
Sohail Modi – Founder and CEO – Modisoft.com