Running a retail store isn’t just about selling, it’s about managing your business effectively. Many passionate store owners, like Ali in our latest podcast episode of The Richer Retailer podcast, find themselves struggling with financial management, taxes, and tracking expenses. Sound familiar? The good news? You can take control and set yourself up for long-term success. Listen to this episode: … Read More
Stay Ahead of Retail Cash Flow Challenges: Strategies for Success
Managing cash flow is one of the biggest challenges retailers face. It’s not just about how much money is coming in—it’s about making sure it’s there when you need it. Because let’s be real: unexpected expenses will pop up, slow seasons will happen, and if you’re not prepared, it can feel like you’re constantly playing catch-up. But here’s the good … Read More
How to Pay Yourself When There’s No Money in the Bank
Beatriz asked a question that so many store owners wrestle with: How do you pay yourself every month when there’s no money in the bank to cover regular expenses? It’s a great question—because paying yourself should absolutely be a priority! If you’re not paying yourself, your business isn’t a business—it’s a hobby. And I know you didn’t start your … Read More
Top Tip for Managing Money In & Money Out
Managing money – the constant juggle of incoming revenue, paying bills, and ordering new inventory, can feel like an impossible task for store owners. Without a plan, it’s easy to get overwhelmed – and let’s be honest, we’ve all been there. That’s exactly why I love the Profit First method. It’s not just another bookkeeping system; it’s a game-changing framework … Read More
How Do I Get Operating Expenses Under Control?
Operating expenses can be the bane of any retail store owner’s existence. They creep up on you, and before you know it, they’re eating away at your profits. If you’ve found yourself asking, “How do I get my operating expenses under control?” you’re not alone. Let’s break down some strategies for tackling the biggest expense categories so you can regain … Read More