When entering into business you are taking a calculated risk with the goal of making money in mind. Making money is 100% controlled by the numbers of the business.
The most important number is sales. Sales dictate other expenses. Since expenses are evaluated primarily on a percentage basis.
Ex.) Amount total spent on labor / Sales = labor percentage
With sales being in the denominator, the higher your sales the lower your labor percentage is. This is also true for other expenses, such as, rent percentage (prior to hitting overage) as well as your cost of goods.
The primary focus of your business is to be growing Revenues.
Revenue= the amount of customers you have X your average ticket (how much each customer spends)
Knowing this, there are two questions to constantly be finding new answers to.
- How do I get more people to the counter? (New and repetitive business)
- How do I get them to spend more when they are there?
There are an unlimited amount of answers to these questions and there is always ways to make things better.
Using different marketing schemes, such as social media, sampling, sponsorships, strategic partnership, rewards programs have successfully help us drive customer counts successfully.
Once someone gets to your business, it is very important that you are working smart and not hard. You need to know your numbers. What are your most profitable items compared to your least profitable items?
Americans are faced with many decisions on a daily basis. People hate making decisions. It is our job to help them make decisions and make them profitable for us.
This is done with major attention to detail in every aspect.
- Set up of the retail location, menu or any additional sales tools that give the customers choices
- Sales program that uses directing sales, up selling, audible sales and most importantly having a trained staff that knows how to read people, understand their thinking and overcoming objections.
Rob will personally help set your business up for successes. He can provide guidance in the set up of locations. He will also train management and bottom line employees. He can recommended results driven bonus programs to help grow your business into a turn key operation that doesn't require day to day tasks. This will set you up for profitability, the ability to fund expansion as well as execution on the operational level.