Tuesday, January 06, 2009

"Retailers: Turn on Your Financial Headlights!"™                                                                            ROI Site Tour

Quizzes & Challenges

Compare Your Store
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See benchmarks - and five year trend charts! - for the six key ratios every retailer must monitor. See how your store compares.



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Why Join The ROI ?
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A retailer's worst fear
I'm scared that my store(s) might fail.


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Total Access: Members-Only Collection

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Next Steps
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How-To Articles for Retailers from The ROI
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What Is YOUR Retail Business I.Q.?

   What’s the difference between smart owners and lucky owners? Smart owners learn to use financial management tools to reach their goals. They use a current financial statement, a balance sheet, sales projections, inventory management and a cash flow statement to monitor and guide their daily decisions.  
   Take The ROI's Retail Business I.Q. test.  See where you could shore up your business knowledge.  Then, drive success in your retail operation without depending on luck! read more ...


The Members-Only Collection
MORE Tools & Resources in the Members-Only Collection
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 Your Bookkeeper Quit?

Learn Basic Retail Finance

No retailer really wants to pay for bookkeeping or accounting. But it's necessary for two reasons: (1) to accurately satisfy the I.R.S.; (2) to accurately show where the business has been and where it is now.

This second reason is essential for what REALLY matters: doing better in the future!

The ROI has developed The Screening Test for Retail Bookkeepers. As an ROI Member you may download a free copy of that test to use as you interview prospective bookkeepers.




 



Help Your Retailers - Partner
Relevant Books for Retailers
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You Can Compete: Double Sales Without...

You Can Compete: Double Sales Without Discounting (Second Edition)

List Price
$24.95

Our Price
$18.32

Customer Service: Aiming for Excellence

Customer Service: Aiming for Excellence

List Price
$17.75

Our Price
$10.45

Training tips. (home center employee training)...

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$5.95

Our Price
$5.95

Retail Business Insights
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Cash Discounts
The tenth of each month, for most retailers, is a critical "payables day". Do not miss taking cash discounts, i.e., 2/10/EOM. Consider this: when a payable due on the 10th of the month is not paid until the 30th, it loses the 2/10/EOM cash discount, and "costs" the equivalent of a 36% annual interest rate. (The 20 days taken is 1/18th of a 360 day year, times 2%, equals 36% equivalent interest.) That's why bank loans are relatively cheap.


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