How to calculate (and manage) your cash burn rate
Your store is closed or there’s little to no cash coming in, but you still have bills, loans and lease payments due. Retailers who aren’t aware of their cash burn rate can run through their reserves quickly. Knowing your burn rate is a valuable survival tool for retailers who need to know how they can manage and survive this extended shutdown. Join HFA executive vice president Mark Schumacher and Mitchell Stiles, vice president of retail operations for Badcock Furniture for an HFA Webinar during which you’ll learn how to determine your store’s cash burn rate. Just as important you’ll learn what your options are for lowering it while managing your cash flow during this prolonged shutdown.