Understanding Your Business Numbers

To my fellow Retailers:

Specialty toy stores might seem all the same on the surface, but when you start to analyze them by the numbers we are quite the diverse lot.  Yes, we sell much of the same products, from the same suppliers, but how we manage the product and cash flow can vary widely.  Some stores fold within a few years, some struggle for what seems like an eternity, others thrive and prosper.  All faced with roughly the same circumstances, we don’t always share the same outcomes. However, I find a general reoccurring theme in my conversations with fellow store owners.

Many just don’t understand the numbers and how those numbers affect their business.  Unless you have an infinite supply of cash resources, retail statistics must be understood and applied to operate a successful store.  These benchmarks will help you navigate your way to owning and enjoying a profitable business.  Many industries don’t have access to accurate benchmark numbers, but fortunately the specialty toy store segment collects and shares this valuable information.  The ASTRA Benchmark Survey gathers vital statistics from stores across the country and presents the information in an easy-to-understand and apply format.

All participating stores will get access to this information and can readily see where they excel and where they have opportunities for growth and increased profitability.  Participating in the survey is easy! Even if you don’t understand the numbers, you can still do your best to input the information from tax returns and financials.  The more stores that participate the better the survey results.  The information you gain in return can help you redirect your efforts and create the successful business you envisioned when you first opened your doors.  Take the time to complete the survey and reap the rewards.

Visit http://www.astrabenchmarking.com to complete the survey and receive a report that compares your business to others like yours as well as a personalized business analysis for your company. Participants who complete the survey by June 16 will be entered to win one of 25 $5 Visa gift cards. 


Debbie
Debbie Scholl
Fundamentally Toys
Houston, Texas

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s