How can you make sure you’re profiting in the retail off-season? This was a great question I received in our retail community recently, and I know many of you can relate. First things first—profitability is the goal, no matter the season. However, in a retail off-season, cash flow can take a dip, even if your business is profitable. So, let’s … Read More
3 Steps to Budget for Retail Profits
I’m about to share 3 steps to budget for retail profits – a crucial topic inspired by a question from our retail community: How do I create a strategic budget to maximize profits in my retail business? As the CEO of your retail business – you HAVE to know your numbers. I’m going to say that again: You don’t have … Read More
Where Should the Money Go – Calm the Cash Flow Chaos
Have you been feeling the cash flow chaos lately? In a recent Q&A session, a retail store owner in our retail community asked a great question: Where should the money go? Allocating your sales consistently across profit, inventory, payroll, and other crucial areas seems like an unattainable goal, leading to a frustrating cycle of financial inconsistency or put more simply: … Read More
Strategic Inventory Management: Unlock Sales Growth with the Freshness Factor
Truth bomb: You can’t grow sales with old inventory! Use the Freshness Factor formula to manage your inventory and unlock sales growth!
How Do I Calculate Profit Margins to Succeed in Retail?
In the dynamic world of retail, understanding and optimizing profit margins is crucial for long-term success. Recently, Pamela asked: How do I calculate profit margins to succeed in retail? In this blog I’ll explain the concept of cash margin, exploring its calculation, distinguishing it from gross margin, and delving into its impact on cash flow. Whether you’re a seasoned retail … Read More