AmericanHort is excited to announce the launch of The Industry Insider Report: Garden Retail Profitability!
In this four-part video-series, Steve Bailey of Steve Bailey Consulting and the Garden Center Group, an expert on using financial and other data to help improve retail profitability, will share his expertise in managing financial data to help you better manage your business performance. While focused on garden retail centers, this information is beneficial to all green industry businesses.
The video series topics include:
Review of the income statement, or P&L
Pricing and margin
Inventory management and inventory turns
GMROII – Gross Margin Return on Investment
Steve will share definitions of key financial measures, benchmarking metrics, and provide tips for managing the financial health of your organization.
The video series will conclude with a virtual panel discussion moderated by Steve Bailey with Cameron Rees of Skinner Garden Store in Topeka, KS, Dennis Fix, FarWest Landscape & Garden Center in Boise, ID and Derek Ellis, Ellis Home & Garden in Shreveport, LA.
The panel will discuss how their experiences using the financial metrics to better manage their business.
In this first video of the series, Steve Bailey reviews the five basic lines of a Profit & Loss Statement, defines key financial metrics such as Cost of Goods Sold, and shares industry benchmarks for income statement line items.
GMROII is an important measure to help improve your return on investment. In this final video of the series, Steve Bailey explains how to calculate GMROII and how to use this to better manage your profit margin.