Opening a store?
Adding stores?
RetailStartup.com
Opening a store?
Adding stores?
RetailStartup.com
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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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First in line
I like having priority access to ALL of The ROI site. It's powerful! And I can get it first.
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Start now! Just $24.95/month
Total Access: Members-Only Collection
M2M |
On-demand, 24/7, whenever you need it.
All for just $24.95 per month.
Feeling uneasy about getting through the next few months? Wondering whether you should be revising your store's spending plan? The Retail Owners Institute® has just the tool you need: our online P&L Planner.
Available 24/7 in the Members-Only Collection, you can use the P&L Planner - on your own - anytime you want. You do NOT have to ask your bookkeeper to do new projections for you. (And, you will minimize the rumors!)
What a great way to test out some "what if...?" concepts. See for yourself whether they "pencil out"; then you can decide which changes to vigorously pursue.
The ROI's P&L Planner has some unique features especially for retail owners:
- It's set up for a six-month time frame that's practical and manageable. (Want a full year's projection? No problem. Do months one through six, print it out, then do months seven through twelve and print that out.)
- It clusters the operating expenses into major categories, or "buckets" vs. a lengthy list of alphabetical line items. Plus, it separates the "fixed expenses" from the "variable expenses." Much easier to manage and control expenses!
- Each item on the P&L is immediately calculated as a percent of sales. This too makes it easier for you to manage and control.
It is fast and easy to work with. All the formulas are built in. Truly retailer friendly!
Take advantage now of your unlimited access to this great tool exclusively for ROI Members. Just go to The ROI and login with your User Name and Password. Then, scroll down the Member's Homepage to the direct links to The ROI's online calculators. Choose the P&L Planner, and "Turn on Your Financial Headlights!!"
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Time for Some Changes? Okay, But Your People Want to Know "Why?"
Mid-management people, those who must execute better and/or differently, often don't truly understand WHY they should embrace change.
Today, retail owners must become better at addressing the "Why?" That means providing leadership, not just management. Especially in these times of apprehension and uncertainty, employees need the confidence and reassurance that comes from true leadership.
It starts with an appreciation for the balance sheet. Mid-management that does not clearly understand how to improve a Debt-to-Worth ratio should be rapidly trained or more rapidly replaced. It's as simple and urgent as that.
Survival is balance sheet strength; nothing matters more. Nothing!
(For more info for yourself and your people, start with "The Myth of the Bottom Line". Then, check out these major sections at The ROI: Retail Financial Basics and Don't Worry: It's Only the Future!)
Time for Some Changes? Okay, But Your People Want to Know "Why?"
Mid-management people, those who must execute better and/or differently, often don't truly understand WHY they should embrace change.
Today, retail owners must become better at addressing the "Why?" That means providing leadership, not just management. Especially in these times of apprehension and uncertainty, employees need the confidence and reassurance that comes from true leadership.
It starts with an appreciation for the balance sheet. Mid-management that does not clearly understand how to improve a Debt-to-Worth ratio should be rapidly trained or more rapidly replaced. It's as simple and urgent as that.
Survival is balance sheet strength; nothing matters more. Nothing!
(For more info for yourself and your people, start with "The Myth of the Bottom Line". Then, check out these major sections at The ROI: Retail Financial Basics and Don't Worry: It's Only the Future!)
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| How-To Articles for Retailers from The ROI
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This "New Normal" Needs a New Nine Step Approach "If we can just hang on until things get back to normal." Have you heard business people say that? We have heard it a lot, and our response is always the same: "Don't wait anymore. Things won't 'get back to normal.' This is 'the new normal'!" What do we mean by "the new normal"? We mean that there is a new set of rules and expectations. For retailers to survive, they must develop new ways of managing and directing their businesses. For that, The ROI introduces a new and timely tool: "The Nine Stepper". read more ... |
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Should We Open That Next Store? There's no one right answer, of course. But here's a step-by-step process you can use for ALL of your strategic decisions. Sound, solid management decision-making is a skill you can learn, practice and apply. read more ... |
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The Retail Strata:G Business Wheel - Cause - Effect - Cause - Effect - Cause - Effect Strategically analyze, plan and refocus your store—not on merchandise or price, but on customers! The ROI's Retail Strata:G® Business Wheel merges strategic marketing with strategic financial planning. By focusing on the customer who is most profitable for your business, you can more effectively make decisions about what financial changes can and should be made to maximize results and minimize risk.
Powerful, unique, and by retailers, for retailers. Get started today. "It's only the future." read more ... |
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Track Your Store's "Vital Signs" Heart rate, blood pressure, breathing, body temperature—these are vital signs which give a quick assessment of a person’s health. Retail businesses have vital signs, too, which owners must carefully measure, monitor, and manage. Here's how to track the essential key ratios - or vital signs - of your store. Learn how to calculate each one in "retail time" - 12 seconds or less! read more ... |
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This "New Normal" Needs a New Nine Step Approach "If we can just hang on until things get back to normal." Have you heard business people say that? We have heard it a lot, and our response is always the same: "Don't wait anymore. Things won't 'get back to normal.' This is 'the new normal'!" What do we mean by "the new normal"? We mean that there is a new set of rules and expectations. For retailers to survive, they must develop new ways of managing and directing their businesses. For that, The ROI introduces a new and timely tool: "The Nine Stepper". read more ... |
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Should We Open That Next Store? There's no one right answer, of course. But here's a step-by-step process you can use for ALL of your strategic decisions. Sound, solid management decision-making is a skill you can learn, practice and apply. read more ... |
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The Retail Strata:G Business Wheel - Cause - Effect - Cause - Effect - Cause - Effect Strategically analyze, plan and refocus your store—not on merchandise or price, but on customers! The ROI's Retail Strata:G® Business Wheel merges strategic marketing with strategic financial planning. By focusing on the customer who is most profitable for your business, you can more effectively make decisions about what financial changes can and should be made to maximize results and minimize risk.
Powerful, unique, and by retailers, for retailers. Get started today. "It's only the future." read more ... |
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Track Your Store's "Vital Signs" Heart rate, blood pressure, breathing, body temperature—these are vital signs which give a quick assessment of a person’s health. Retail businesses have vital signs, too, which owners must carefully measure, monitor, and manage. Here's how to track the essential key ratios - or vital signs - of your store. Learn how to calculate each one in "retail time" - 12 seconds or less! read more ... |
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The Members-Only Collection
The Members-Only Collection
| "Retailers: Turn on Your Financial Headlights!" Have you ever tried to drive a car at night – without headlights? Of course not! Even though the car works fine – and goes fast! – as the driver you want to see what turns and twists the road is taking, or what dangers you must avoid. But many retailers are driving their businesses through some dark economic times with their business headlights off. Just like the driver without headlights, without being able to see ahead, they cannot make appropriate adjustments. read more ... |
| Steering Your Retail Business to Success Do you know where your business will be in five years? How about three years? Do you know where it will be next week?!
Of course, you can’t know with any certainty where your business will be at any time in the future. But you can know where you want it to be. And if you work at it, you can exert a lot greater control over your business’ future than you might think. read more ... |
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| "Retailers: Turn on Your Financial Headlights!" Have you ever tried to drive a car at night – without headlights? Of course not! Even though the car works fine – and goes fast! – as the driver you want to see what turns and twists the road is taking, or what dangers you must avoid. But many retailers are driving their businesses through some dark economic times with their business headlights off. Just like the driver without headlights, without being able to see ahead, they cannot make appropriate adjustments. read more ... |
| Steering Your Retail Business to Success Do you know where your business will be in five years? How about three years? Do you know where it will be next week?!
Of course, you can’t know with any certainty where your business will be at any time in the future. But you can know where you want it to be. And if you work at it, you can exert a lot greater control over your business’ future than you might think. read more ... |
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| MORE Tools & Resources in the Members-Only Collection
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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."
- 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.
Take a Feature Tour 
Feature Tour opens in a separate, pop-up window. Please disable pop-up blockers.
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.
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Retailers - Have Cash Flow Problems?
(Is the Pope Catholic?) Retailers never should be without a cash flow. You can do it on the back of an envelope.
There are just three components of cash flow control: Cash coming in. Cash going out. And, the difference. Tally these for each time period (week or month), and then the "running total", and you have your cash flow statement.
Now you can talk with your bank about a line of credit, because you can show when you can repay the loan.
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Retail Owners...
Need a New Strategy?
Customized • Timely • Objective
(more info...)
Retail Owners...
Need a New Strategy?
Customized • Timely • Objective
(more info...)
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