We recently learned of a restaurant with a kids menu which is quite unusual.
Of course, having a kids menu is not unique. But here's what IS unusual about this one.
When kids are asked "What would you like to eat?", often their answers can range from "I don't know" to "I don't care."
But at this restaurant, here is what each all-too-familiar answer brings to the table:
In the free enterprise system, owners are free to succeed. And free to fail.
That's why The Retail Owners Institute has defined the #1 responsibility of the Owner as the survival of the business.
But then, the owner must define "Why?" Why are we doing this, anyway? Why are we working so hard for this business to survive and thrive?
We were struck by these comments from folks for whom "back-to-school" is more than a season. Look what a state superintendent of public instruction* had to say about the upcoming school year.
Lots of retailers can identify with those comments, don't you agree?
Or, these observations about the disruptions and uncertainties of the pandemic:
As the final third of the year approaches, there's a "new era" afoot. There is optimism in the air.
Yes! And it could catch a lot of folks by surprise.
You've no doubt seen the headlines and the commentary:
Consumer spending is up, but not on what was expected, especially those publicly-traded chains that must report quarterly.
It doesn't make any difference if you're selling tires, turbans or tuxedoes.
Poor prior planning produces pitifully poor profits.
(You can take that to the bank!)
We came across an article on this checklist theme for the rapidly approaching fall/Holiday season.
One of the real killers of a retail business can be debt. But, how much is too much?
Debt can be quite stealthy as it grows.
Especially in these times of increasing interest rates, creeping expansion of debt can quickly snowball into a much larger problem.
From the Benchmark pages on The ROI site, we have selected four retail verticals whose Debt-to-Worth ratio shows a frightening situation. The technical term we would use is "spooky, real spooky."
(click on each chart to see all key ratios for that vertical)
Still less than $1 a day! 👀