Sunday, September 07, 2008

"Retailers: Turn on Your Financial Headlights!"™                                                                            Quick Tour

Be a Better Owner

Compare Your Store
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See benchmarks - and five year trend charts! - for the six key ratios every retailer must monitor. See how your store compares.


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Why Join The ROI ?
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I DO Have a Choice
A consultant wanted $6,000 to turn around my store. Heck, that's ROI Membership for 20 years!


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Relevant Books for Retailers
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How to Open & Operate a Financially Successful...

How to Open & Operate a Financially Successful Wedding Consultant & Planning Business: With Companion CD-ROM

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$39.95

Our Price
$23.96

 

How to Open & Operate a Financially Successful...

How to Open & Operate a Financially Successful Retail Business: With Companion CD-ROM

List Price
$39.95

Our Price
$22.94

 

The Trader Joe's Adventure: Turning a...

The Trader Joe's Adventure: Turning a Unique Approach to Business into a  Retail and Cultural Phenomenon

List Price
$24.95

Our Price
$9.02

 

How-To Articles for Retailers from The ROI
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Now, Stress Management for Retailers

People decide to open their own retail business for a variety of reasons:

  • The chance to control their financial situation by their own efforts and expertise.
  • The sense of freedom and self-respect that comes from charting their own course.
  • The opportunity to do satisfying work.
  • The ability to structure their own time.
  • A chance to interact and communicate with people.

These reasons also happen to be the five biggest producers of stress!  While each reason can be satisfying, it can also be stressful. read more ...

Retail Owners: Where's YOUR Job Description?

What is the most overlooked and under-performed job in retailing today? Being the Owner! Owners have responsibilities that are separate and distinct from any other job in retailing.

In fact, failures in retailing today aren't caused by weak management or CEOs.  Most retail failures are traceable to weak Owners neglecting or over-looking their Owner-Only Responsibilities. read more ...


The Members-Only Collection
Join The ROI. Get unlimited access. Details.
From the Members-Only Collection for Retailers
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Expand? Or Should You?

Financially, how should you manage growth?  By advance planning.  First, consider the four basic elements of expansion: sales, gross profit, operating expenses and cash flow. Then project your balance sheet to locate any financial gap. read more ...

Putting a Price Tag on Your Retail Business

The value of any business is not just the sum of numbers drawn from the financial statement. The value can vary dramatically, depending on the valuation method used and business and economic conditions. The basics of evaluating the worth of a retail business are not complex. The difficulty is in knowing how to apply them to your own unique situation. read more ...

How To Sell Your Store

You’ve finally decided to reap the rewards of all the time you spent building your successful retail business. You’ve determined it’s time to sell. To make certain your reward is adequate, consider these tips as you go through the selling process. read more ...

MORE Tools & Resources in the Members-Only Collection
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Learn Basic Retail FinanceYour Bookkeeper Quit?

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

Training

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."

  • Learn how the income statement and balance sheet must work together.
  • Learn how to do inventory buying plans (Open-to-Buys) at either cost or retail.
  • Learn how to do a retail cash flow, one that reflects your buying plan.

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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Retail Business Insights
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A Retailing Truism
There's a correlation between undisciplined buying, profits, and a cash crisis.
You can manage your buying plan for yourself. It's basically a four-part formula. And it's driven by the inventory turnover you want to achieve.
Wonder what your targeted turn rate "should" be? It varies by type of retailer. Go to your Retail Segment here at The ROI for "benchmark numbers" for stores like yours.



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