By now, you have your year-end financials for 2021. Remember, it always comes with a Balance Sheet! Whether sales are up, down, or sideways, the financial strength – and staying power – of every business is shown on its Balance Sheet. And revealed by its Balance Sheet ratios.
In our consulting work with independent retailers, our work always begins by calculating their key ratios for the most recent two or three years, paying particular attention to the trends.
This is what prompted us to develop a special online tool so that any retailercan do that kind of analysis for themselves, quickly. Accurately. And for free! You may find that you are much stronger than you realize! We call it the FINANCIAL STRENGTH Rater for retailers. It focuses on five ratios. You just enter your ratios for two years; get immediate feedback!
(Be sure to check out the "Is there some mistake?" section to really appreciate the full power of this tool.) Yes, there is a lot packed into the FINANCIAL STRENGTH Rater. That's what makes it so useful to busy retailers. It takes very little time for you to assess your business like the pros do. All on your own. Free! Only at The ROI.
Let's assume your stores have been closed for weeks now.
We recognize how conscientious you are. So, after paying what you can to your employees (and yourself), the next most-worrisome dilemma is your rent.
As you likely have discovered, a common choice for many landlords is to offer to defer your payments. But that means taking on more debt, as those payments are only being postponed to a later point in time. You need a better solution than that.
The Retail Owners Institute® makes it easy for you to get a quick financial health assessment of your own stores, as well as the retail industry, and every vertical within it. From farm stores to apparel stores, wine stores to tire dealers, gift shops to convenience stores; all 45 verticals. Here's how to get started.
Quite a picture, isn't it? Which ratios are trending up? Down? Any suggest some shaky times ahead? Any surprises? But most importantly, how will yours compare?
You may be one of the many retail owners who share our vision of why to own your own business: “Making money. Having fun. Doing good.” You see, we believe that Owners do not have to choose just one goal for defining "success" in their business. Goals do not have to be mutually exclusive; they can converge. Just like in a Venn diagram. Here's a fun exercise. Make your own Venn diagram for your own business. Start now to make that convergence come to life.
As your stores are able to re-open after the coronavirus shutdowns, how they look tells a powerful story. And for you, a great opportunity. This is no time to try to go back to normal, back to business-as-usual. Nor to simply have all kinds of protective shields in your store. While necessary, how welcoming is that? Instead, this actually IS a second chance to make a good first impression! Take full advantage!
Since we first established The Retail OWNERS Institute®, we have asserted that the greatest growth opportunity in retailing is between the ears of the owners. And nothing since then – not even (or maybe especially!) – a once-in-a-century pandemic has diminished our belief. Independent retailers and restauranteurs have been among the first business owners to pivot to a survival mode. Why? Because they have had plenty of practice!
This is, after all, The Retail OWNERS Institute. We long have specialized in alerting, coaxing, and applauding retail owners worldwide. Today's message is a major heads-up. Keeping pace with the relentless changes in retailing has never been easy. Retailers know that constant adjustments are demanded. Then, the three pandemics of 2020 happened: COVID; the economic meltdown; the social unrest. And life changed modestly or enormously for almost everyone, including owners of retail businesses.
Incredible value! 👀
Start NOW!