Tuesday, May 13, 2008
Key Issues   »   Sales and More Sales    

Sales and More Sales!
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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.


"Yes, I want to become a Member of The ROI Because..."
Getting worn down
My employees expect that since I'm the owner, I will have all the answers...to everything!
By retailers, for retailers
You folks seem to know what you're talking about.
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How-To Articles for Retailers from The ROI
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Retail Sales Forecasting: Part Art, Part Science

If you are like many retailers, you probably haven’t put together a comprehensive business plan since you first went into business (if you did it then!). But a carefully thought-out plan is essential to the success of your retail business. Owners and managers who plan ahead invariably achieve more than those who don’t take the time to draw up forecasts and set realistic goals for their stores.

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Members-Only Collection

Training Salespeople to Sell

The first principle of retail selling is...it's a sales job!  It’s not a good idea to hire timid, unsure people who avoid the inevitable confrontations that selling entails. On the other hand, if you hold out for natural salespeople, you are going to be chronically understaffed.
So what do you do? You select the people with the most potential and give them the tools needed to be successful.

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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.

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

TrainingNow. Learn Basic Retail Finance. At your own pace. 24/7.

The ROI's Short Course on the Basics of Retail Finance is an interactive, self-paced course. By retailers, for retailers. 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: The I. M. Surviving(?!) Company."All you need is a little desire."
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What Do People Say About The ROI's Short Course?

Store Manager, Office Supplies:
"I found a lot of interesting and useful information in it for a person who runs a business.  Lots of additional knowledge they easily can get from it."
Owner/President, Outdoor Power Equipment Store
This is extremely helpful and worthwhile."
College Student
"It's fantastic."
Service Manager, Motorcycle Dealer
"It makes you think."
Sales Training Director, Convenience Stores
"Concise and to the point; very good for the folks I work with."
Internal Auditor-Inventory, Tractor Manufacturer
"This would give much benefit to our organization."
Owner/President, Apparel & Accessories Store
"Well done.  Easy to understand."


Manage inventory
Retail Business Insights
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It shouldn't even cost extra
Insist that your accountant or bookkeeper add a small step when preparing your Balance Sheet. On the same page, have them post for this year and last your Current Ratio, Debt-to-Worth Ratio, ROA, Gross Margin %, and annual Turnover. Now, you'll be able to really read your Balance Sheet (and they won't need to know that you couldn't before....)


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