The New Year is upon us and in the U.S. that means prepping for our income tax appointments or filings. I’m here to help retailers prepare for filing taxes. However, “taxes” can mean many things to many retailers, depending on where you business is located. So I’m here to share a variety of “tax” tips…
If you don’t know your numbers, you don’t know your business. I know math is not the favorite topic for many brick-and-mortar store owners. But tracking and monitoring metrics for brick and mortar store owners is SO important – especially if you want to grow. As retail business owners, there are quite a few metrics…
Are you familiar with the Retail Profit Pie? As a retail business owner, it is extremely important to track how your revenue is being distributed. It’s even more important in retail because most likely 40-55% of the money you generate is being spent on goods, your cost of goods also known as COGS. That’s a…
The topic of pricing comes up often with retail store owners. Whether you own a brick and mortar store or an online shop, if you’re buying wholesale and reselling the goods in your shop, pricing is an important aspect of your business. I often find that shop owners think that pricing is a one-size-fits-all strategy,…
With 200+ members in our membership groups, many conversations are initiated regarding E-Commerce. “Should I create an online shop?” “What E-Commerce platform should I use?” “Do I pay for plug-ins to help my online store run more efficiently?” “Should I pay someone to help me populate and launch the online store?” “Should I pay for…
We had a dream – to one day open a brick and mortar store. But, we also had another dream. To do it on our own – without incurring debt – commonly known as “bootstrapping”. So rather than jump into a $20-$50K+ loan, my sister and I chose to take a bit of a journey….