Business & Financial Resources for Retailers


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Business & Financial Resources for Retailers

You may have a successful retail store, but is it a successful business?

Your retail store is more than just a retail store - it is a business. Many retail store owners are very proficient at running the operational end of their stores, but need help in running a successful business.

One of the most common mistakes independent retail owners make is neglecting to run their store as a business.

There is alot that you already do - managing your employees, employee training, selecting and buying inventory, deciding on pricing, handling advertising, selecting what merchandise to put on sale, building a relationship with your customers. But are you also doing what an owner should be doing - creating your marketing plan, managing your P&L, staying on top of your cash flow, and interpreting your financial numbers? If you don't handle the business end of your store, who will?

This section will help you better understand the business and financial part of operating a retail store so that you can run a more successful business.

How To Put a Mystery Shopping Program in Place At Low Cost

Have you ever wondered how your customers view your store? Would you like to know what areas of customer service need to be improved? Learn how you can put in place a mystery shopping program to learn this valuable information . . . more >>

PROFIT MAKING STRATEGY: Reduce Your Overhead Expenses by Joining a Retail Store Merchant Association
Bankcard processing fees and insurance premiums are only a small part of the cost of doing business, but they can account for a major portion of your expenses. Learn how joining a retail store merchant association may be the wisest move you can make in reducing your store's overhead and adding to your bottom line . . . more >>

DOWNLOAD: Retail Store Competition Shop Analysis

Knowing your competitors' pricing, brands carried, sales promotions, and selling strategies is vital for independent retailers. Knowing this information will allow you to set better prices, choose appropriate inventory, schedule sales promotions, and emphasize certain aspects of your store's operation. Use the Retail Store Shop Analysis form to help you manage your findings and compare them to how you run your store. . . . more >>

DOWNLOAD: Retail Store Telephone Answering Procedures

Your store spends a fortune on advertising and marketing. If your staff is "winging it" when they answer the phone, then you're pouring money down the drain. Use the Retail Store Telephone Answering Procedures to put in place an effective script to help your staff convince the caller to come into your store and buy . . . more >>

How to Cut Your Retail Store's Overhead Expenses
Looking for ways to cut your retail store's overhead expenses is just plain smart. Less expenses means more profit for your retail store. Learn practical ways to reduce your expenses and make your store a more profitable business. . . . more >>

DOWNLOAD: Retail Employee Performance Review Form
Unless your employees know how well they are doing, they probably will not show any improvement in their job performance. Periodic reviews are necessary in order to inform staff how well they are performing in their jobs. Use the Retail Employee Performance Review Form to recognize good performance and point out possible room for improvement. . . . more >>

DOWNLOAD: Retail Employee Warning Notice Form

When an employee does something or fails to do something according to your store's stated policies, it is necessary to bring this unacceptable behavior to his or her attention. Use the Retail Employee Warning Notice Form to document the occurrence and make the employee aware of the issue so that they do not repeat it again. . . . more >>

DOWNLOAD: Retail Store Petty Cash Form

While most independent retailers prefer to pay for merchandise and services by check or credit card, sometimes paying by cash is necessary. Use the Retail Store Petty Cash Form to manage and account for your petty cash payments . . . more >>

DOWNLOAD: Retail Store Inventory Receiving Log

Every store needs to have a system in place for tracking merchandise as it is received at the store. Otherwise, you risk not catching mechandise undershipments or outright theft of your inventory. Use the Retail Store Inventory Receiving Log to record all your inventory receiving as it occurs . . . more >>

DOWNLOAD: Retail Store Month to Month Sales Comparison Log
Use the Retail Store Month to Month Sales Comparison Log to track your sales totals each month . . . more >>

DOWNLOAD: Retail Store Donation Tracking Form
Retail stores get constant requests for donations to various charity causes. Having a record of your donations allows you to stay on top of your donations and allocate future donations. Use the Retail Store Donation Tracking Sheet to manage your donation records . . . more >>

How to Save Up To $5000 Each Year on Your Credit Card Processing Fees
Everytime you accept a credit card, you give away part of your profit to the credit card processor in the form of credit card fees. Unless you are aware of how credit card fees "really work", you're paying more than you need to. Learn proven ways to increase your retail store profits by reducing your credit card processing fees . . . more >>

DOWNLOAD: COBRA Employee Personal Information Form
U.S. law requires that all individuals no longer employeed by your store be notified of their health insurance options through COBRA. Download the COBRA Employee Personal Information Form so that you can collect the necessary personal information of the departed employee . . . more >>

RETAIL CALCULATOR: Retail Store Price Markdown Calculator

Use the Retail Store Price markdown Calculator to quickly and easily determine your discount pricing when marking down merchandise. . . . more >>

PROFIT MAKING STRATEGY: Why Joining a Retail Buying Group is One of the Most Profitable Moves You Can Make
Smart retailers understand that they make their money not when they sell, but when they buy. Knowing how and where to buy at the best pricing and terms allows you to run a more profitable business. Learn how joining a buying group allows independent retailers to have similar buying power as the mega-chains and big box retailers . . . more >>

Retail Store Shipping Costs: A Guide to Keeping Your Freight Costs Under Control

The cost of shipping your inventory from the manufacturer or distributor to your retail store impacts how profitable each item will be. Learn what you need to know in order to keep your shipping costs as low as possible . . . more >>

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