Business Basics - Sales by the Square Foot
September 14, 2011
|You walk into your store in the morning and look over the sales floor. Everything looks good: the lights are on, products are clean, the shelves are faced, everything is stocked and the floor is vacuumed. |
But before the customers get here, maybe it's time to look a little deeper.
Have you ever analyzed your selling space by square foot? Every retailer knows it's important to squeeze every bit of profit out of every inch of selling space in his or her store. And with the typical hobby store between 1,000 and 2,500 square feet, this becomes all the more true.
The information is an indicator of business health and productivity. In the big-box world, nearly all retailers perform these calculations. The data is generally part of annual reports and other filings.
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