"Retailers: Turn on Your Financial Headlights!"™ ROI Site Tour
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Retailers: Are You "In Decline"?!
Here are eight key indicators of decline in a retail business. Check to see where your operation fits for each one of them. Then tally it up: how many Stage Ones? Stage Twos? Any Stage Threes?
Remember, all retailers are in Stage One of decline at some point. The key is recognizing it, and making the necessary adjustments. This quick assessment will let you know where your operation might be at risk, and where you must focus your efforts first.
Being "in decline" is not the problem. But being in denial IS a problem!
(ROI Members can download a FREE copy of The ROI's 8-page Crisis Guide. Packed with proven, practical steps for retail turnarounds.)
Last year was a relatively strong year for retailers. And yet, in the United States, about 11 retailers failed each hour, every day, 24/7/365! Why? Interest rates, discounters, location, competition, a slowdown in the economy - these are the usual reasons for the failure of retailer after retailer.
But we at The ROI disagree. Failures in the retailing industry are not to be blamed on outside, uncontrollable influences. Instead - sad to say - many retailers fail because of their own mis-management. They fail to make the necessary adjustments to assure the survival of their own business. read more ...
In good times, inventory turnover is important; in bad times, it is critical. Higher turns mean that fresh, new merchandise will represent a greater proportion of your total merchandise (something customers love!). And it will reduce your dependence on borrowed money by trimming down inventory. read more ...
Having problems meeting your bank loan? You’re not alone. Even the superstars of retailing seem to be having troubles these days. And they have enough assets to make your head spin.
Now. Learn Basic Retail Finance. At your own pace. 24/7.
Profits & Debt Management - Financial Statements - P&L's - Balance Sheets - Inventory Management (@Cost or @Retail) - Turnover - Buying Plan Budgets - GMROI - Cash Flow - pro formas - Ratio Analysis - Integrated Retail Financial Plans
The ROI's Online Seminar on Retail Finance Basics is an interactive, self-paced course. By retailers, for retailers. "All it takes is a little desire."
Includes interactive content, self-quizzes, printable worksheets, extra how-to articles by retail experts, and a special case study featuring Helen and Irving Surviving of The I. M. Surviving(?!) Company.
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No retailer really wants to pay for bookkeeping or accounting. But it's necessary for two reasons: (1) to accurately satisfy the I.R.S.; (2) to accurately show where the business has been and where it is now. This second reason is essential for what REALLY matters: doing better in the future! The ROI has developed The Screening Test for Retail Bookkeepers. As an ROI Member you may download a free copy of that test to use as you interview prospective bookkeepers. For more information, see The ROI's Bookkeeping Articles.