For many retailers, buying is the “fun” part of the job, but it can be stressful. You probably got into your business because of your love of the product you sell. Picking out items that you love and putting them together in the store can be so much fun. Then comes the hard part [...]
“If I could only remember that I cannot remember, my life would go much smoother.” - Cris Willis Too many times in my business life, this has been my motto. Especially when it came to remembering the details of past events and promotions. I would always think that I would remember everything that [...]
Get rid of that stale, dead inventory, and plan your future purchasing through Gross Margin Formula! Have you ever asked yourself, "If business is so great, then why am I not making any money?" Maybe your accountant or tax return says you are making a profit, but it's not reflected in your bank account. This [...]
Calculate your Turn Rate and plan your inventory for the rest of the year! Are you asking yourself, "How Much Inventory Should I have on hand Right Now to Make My Sales Goals?" Well, to fix this problem, you need to know your Turn Rate! Your greatest source of increased cash flow comes from increasing [...]
