Whatever regional economic situation you find yourself in, there is always an opportunity for improvement. It is important to have your finger on the pulse of your business and look for ways to maximize profitability and cash flow. If sales grow faster than in previous periods, cash flow will grow
One hundred years ago marked the start of the Roaring Twenties. This decade saw the U.S. economy expand by 40 percent, fueled by consumers purchasing high-ticket items for the first time. Automobiles, appliances, and furniture were bought en masse and on installment. This was also the founding year of the
In that final mile, I was smiling. The crowd had delivered a thunderous roar for the past 25.2 miles. Officially, the Boston Marathon begins in Hopkinton, Mass., but the journey starts long before that. In that final mile, I reflected on where I came from. I thought about all it
It’s a temporary storage facility for your merchandise. With the right space and procedures in place, your warehouse can add value to your furniture store. When it comes to warehouses, I’ve seen them all. I’ve seen the pristine, state-of-the-art, purpose-built facilities. I’ve also seen the chopped-up back rooms that remind
I was recently asked this question: “A furniture retailer is boasting $441 per square foot in annual sales. That seems good, but I don’t have a point of reference. Can you put that in context? What’s the national average for furniture stores?” That’s easier asked than answered: While $441 seems
The biggest elements of retail success are inventory and selling. Traveling around the world consulting with retailers, I’ve seen my share of retail furniture operations in action. These operations come in all shapes and sizes, but there are typically three types of retailers. First, there are those who recognize and
Getting Your Numbers Right Improvement in your furniture store starts with two things: Awareness and desire. The awareness of how you’re performing against standards allows you to understand your strengths and weaknesses. It’s through the measurement against these standards, or metrics, that you can find gaps. Knowing your gaps and
…and other retail challenges In a two-year study in conjunction with the Home Furnishings Association, we asked furniture retailers to state their top challenges. The results support what I’ve heard from our performance group members as well as consulting clients, with just six challenges making up the majority (more than
After a stellar 2023 Holiday Season, most consumer analysts have been cheering the strong retail sales data spurred by manageable
[High Point, 2/5/2024] – Today, the Home Furnishings Association (HFA) announced that Shannon Williams will be its next Chief Executive
In today’s retail landscape, where demands are constantly increasing and productivity is key, the role of a manager has become
A digital marketing plan outlines strategic online tactics that determine how you promote your products, services, and brand online. With
As business owners and managers, we understand the importance of consistently driving excellence within our organizations. After all, our success
Drive Traffic with Data Insights There is untapped potential for driving traffic to your store by using the data you collect. Industry experts will share
Evaluating the Cost of Delivery Join leading industry experts who will share insights on key cost drivers, efficiency measures, technology usage, and outsourcing options for
