Part two of the blog Series: The Four Pillars of Success. Store Organization and Flow are great areas to find hidden money. This is often an overlooked area for most businesses, large and small. Back office is all about how you look at your business, vendors, pricing, event planning, marketing planning, human resources, and any area that affects your business from behind the scenes.
Store Organization and flow can make difference in making your sales goal or missing your sales goal. In larger stores I worked in, store flow easily added a $1 million + to the bottom line. Why? I looked at how my stockroom was organized in relationship to need. Keys that helped my stores sell through items at full-price: seasonal items kept together near the stockroom/sales floor door, when dealing with folded clothes they were separated by size and style, shoes were separated by size and style, non clothing stores items were grouped by collection for collectibles or other factors depending on the store. Every store tries to keep as much product on the floor but it is not always possible. Stockroom organization can make or break your sales if you can not sell an item at full-price.
Also consider the sales floor set up. Does product placement make sense? Is there a flow or reason why items are placed together. The organization of the sales floor should be easy to understand for anyone walking through your doors for the first time.
Back Office, the scariest phrase to most small business owners. This is an area that makes or breaks a small business. The majority of the small businesses that fail are because they did not have a handle on how to manage the business. Key areas I start with are numbers, from sales to pricing to vendor costs; the planning process, from marketing to sales to events; analytics, what do are you measuring and why; and organization of files and how paperwork is done. These are just few areas to look at.
The overall goal of the Retail Mastery Plan is to use the Four Pillars of Success to understand how you do business first. The Customized Mastery Blueprint uses your business's core values with best practices in the The Four Pillar of Success to take your business to it's next level of success. To get started on your Retail Mastery Plan visit AMG Innovative Consultants to schedule your Retail Success Strategy Session.