Sales Per Square Footage
Weeks ago I asked the brick and mortar store owners in the Savvy Shopkeepers group if they knew their SPSF – Sales Per Square Footage.
Some did, some didn’t but what struck me was that I couldn’t find numbers online.
As a brick and mortar store owner myself, I wanted to find a “baseline”. A graph based on square footage, an average number, something to tell me my business is healthy and on the right track …but no luck.
I researched and did some Google searches trying to find SPSF for independently owned stores like most of ours and I couldn’t find what I was looking for.
So I decided to survey the Brick and Mortar store owners who read my blog and are members of the Savvy Shopkeepers Facebook Group. You can read my first blog post by clicking here.
Due to privacy issues, I set the survey up to be anonymous and can’t prove that these numbers are accurate or legitimate but I know members of the group want to learn and make their businesses better.
This was by NO means a scientific study. I had 15 shopkeepers complete the survey and although I would have liked to get more members to participate, I tallied the results and this is what I found:
AVERAGES BASED ON SQUARE FOOTAGE:
Under 500 square feet (2 reported) = $102.16 SPSF
500 – 999 square feet (2 reported) = $260 SPSF
1000 – 1999 square feet (8 reported) = $93.18 SPSF
2000 – 2999 square feet (0 reported) = N/A
3000 – 3999 square feet (2 reported) = $89.67 SPSF
4000+ square feet (1 reported) = $230 SPSF
Here are 2 more ways to view the data:
There isn’t enough data to find patterns but at least this is something to work with. We all have to start somewhere, right?
While posting about this survey and engaging with members about this topic, I found the most popular questions that resulted from the conversation were:
How do I know if my SPSF is good?
What is the value of knowing my SPSF?
Stay tuned for part 2 of this blog post series where I share the answers to these questions.
In the meantime, if you would like to add your data to the survey results, I decided to leave it open, click here to access the survey. If a substantial amount of data comes in, I’ll be happy to write an update about the results in the future.