People don't go into retailing to be financiers.
- They love the merchandise they sell. Or they love the people who buy the merchandise. (Think book stores, sporting goods stores, gift shops, etc.)
- Others love the "theater", the excitement of retailing.
- Still others want to be their own boss.
But few are attracted to the financial part.
Meanwhile, where are independent retailers getting financial advisory services now? Sadly, they are turning to...
- their POS providers
- their vendors, wholesalers, online marketplaces
- inventory management consulting services
- "retail universities” developed by buying groups, trade associations, trade show organizations, major vendors, etc
- online bookkeeping or accounting services
- payment processors
- fintech companies
- "the internet"
And much of that financial "information" is either error-prone or complex and arduous; usually expensive; and often accompanied by a conflict of interest.
Retailers deserve better!
Exactly why The Retail Owners Institute has been built!