Running a successful business involves more than just making sales; it requires effectively managing your retail cash flow. This blog post will explore key strategies to increase your retail cash flow and improve your business’s profitability. You will learn practical tips and actionable advice to optimize your retail cash flow.
Approximately 40% of the U.S. population has less-than-perfect credit1, with credit scores that range from 550-700 amid the broader FICO scale of 300-850. Although these everyday Americans typically have dependable and full-time income, they fail to meet the criteria of prime lenders. When a prime lender declines credit for these
Retailers often think the next boost in their business will come from finding the next amazing line of merchandise or discovering a new marketing tool. Sometimes, they believe it will happen because they hire a killer salesperson or hope new businesses will fill vacancies around them, bringing traffic. The problem
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
In the dynamic and ever-evolving world of retail, understanding your financial health is not just a recommended practice; it’s a critical necessity for survival and growth. For a furniture retail store, comprehending the intricacies of your financial well-being can make the difference between thriving and fading into obscurity. This blog
What KPIs Can You Measure to Improve Profitability? Customers are facing tough choices these days when it comes to discretionary spending. It’s not necessarily bad news, however. Retailers now have opportunities to build loyalty and grow market share if they can quickly and efficiently adapt their brick-and-mortar and online business
Crime pays (a lot), according to Riskified data. Our recent analysis of how fraudsters make money shows it takes just 90 minutes of work per week to reap returns from malicious activity — and with a $30k weekly investment, fraudsters can generate more than $50k in weekly revenue. Despite this
I don’t know what the heck happened, but the garbage guys forgot to pick up my green can full of lawn clippings and mulchables from our curb on Tuesday. When I called to complain, they apologized and said a truck would be back before 6:00. I was stunned—service from a
Business decisions must be based on data to win in retail. Your business data can make you a better leader, marketer, buyer, salesperson, decision maker, and problem solver. You miss opportunities to better understand your strengths and weaknesses by overlooking this vital tool. This oversight can lead to costly and
Submitted by Taylor Ganz, Profitability Consulting Group When John Egger founded our company, he christened it “Profitability Consulting Group“ (PCG) for a reason. While we believe and preach sustainable sales growth, growth without profit and positive cash flow can be disastrous for your profit margins. And this was what we
The G.R.O.W. Sales Coaching Model Part 1 In speaking with hundreds of furniture retailers over the last two years, I
Attracting and retaining customers is paramount to success in the retail furniture industry. Traditional financing models can be exclusionary; in
In retail furniture, standing out from the competition is essential. While quality and design have always been critical, today’s consumers
In 2023, the home, garden, and furniture industry encountered its fair share of headwinds. Despite soaring inflation rates, a tough
An effective strategic plan provides step-by-step instructions for launching, growing, or redirecting an organization. The strategic planning process involves: Defining
Driving Sales with Social Commerce Leveraging social media for business growth involves a mix of strategic planning and creative execution. The power of social media
State of the Industry: Navigating Economic Trends and Market Shifts Join us for a thought-provoking webinar that will delve into the pressing issues shaping the
