Strange question? Not really, because making money should be your major concern. Image, atmosphere, displays, sales help, promotion, great items – they’re all so you can make more money!
But that’s not enough! The reason retailers fail is not because of the above, it’s because they buy too much merchandise and can’t pay their bills (talk about not making enough money). Sound familiar?
The problem is buying without knowing how much to buy, or buying without an open to buy plan. You can solve this problem and be on your way to making lots of money once you institute a great open to buy plan. The key to making money is turnover. Retail allows you to control your turnover and that’s what makes it so much lucrative than other investments.
The key to higher turn rates is a great open to buy system, one that develops your buying plan 12 months in advance and helps you monitor your progress each month allowing revisions to keep you on track to (you guessed it) make more money.
Don’t think that this is something you can do later, because later will be too late. The best time to get set up with an open to buy plan is TODAY! Once you’re underway, your problems are behind you and even though you’ll never make “enough” money in your store, you’ll be well on your way to making MORE!