Editor’s note: David DeKeyser and his wife Rebecca Cleveland owned and operated The Bike Hub in De Pere, Wisconsin, for nearly 18 years. Last year, they sold the business and real estate to another retailer based in a nearby community. This is the third Positive Spin column by David DeKeyser.
As a retailer you may be feeling like you are fighting a never ending uphill battle. As you looked over your main vendor’s programs for next year there may have been some margin reductions, freight increases, or commitment increases. Perhaps all three! The constant uncertainty about whether you will lose even more margin over tariffs, employee wage increases and increased pressure from emerging distribution models from your “partners,” continually reveals how the retail landscape is riddled with trip hazards.
I still feel that you can make great profits, however grim all the battles appear to be. My last two articles (here and here) stirred the pot a little bit, and some questioned whether the profits I was touting were possible. What follows are four things to look at closely in order to begin achieving higher profits.
One and two: Location and payroll.
The first two items are …read more