Business expert Robbie Brown explains how other metrics are just as important to your business as your profit off the top.
Do profits equal a healthy business? The obvious answer would seem to be “Yes,” but the reality is that profits are not the be-all-end-all of a thriving and sound FFL or range operation. Business expert Robbie Brown, in his second session of the 2018 SHOT Show University’s Retailer 101 learning track, “Evaluate the Health of your Business,” will explore this idea in depth. During this discussion, you’ll find answers to questions such as:
- Is profit an absolute number, or should it be measured against some other benchmark?
- How should one define business health and what should be your key metrics?
- What roles do net worth, current ratio, net profit as a percent of sales, gross profit percentage, inventory turn rate and line item service level play in affecting business health?
- What about non-numeric measurements of business health, such as employee turnover rate, employee morale, staff product knowledge, store location, image and appearance?
As we told you in an earlier post about his other Retailer 101 session, “Buying Versus Leasing — Everything in Life is Negotiable,” Brown has an extensive background in retailing, wholesaling, distribution service industries and consulting. He has been CEO of numerous companies in the shooting sports industry, including retail chains and distribution companies, and he currently consults for businesses of all sizes in both the merchandise and service industries, as well as for a variety of corporations, industry groups and trade associations. If you’re looking to grow sales and secure a successful future for your store, “Evaluate the Health of your Business,” is a must-attend session.
Taking place Monday, Jan. 22, the day before the 2018 SHOT Show opens, SHOT Show University is NSSF’s premier learning experience for retailers and range owners, providing business owners of all experience levels ways to improve their businesses. The forum is comprised of four learning tracks: Range, Compliance, Retailer 101 and the Master’s Class. Though anyone can attend any learning track, those with newly established FFL businesses, those looking to explore firearms retailing or firearms range businesses for the first time and those looking to expand their footprints with additional locations are especially encouraged to participate in the Retailer 101 track.
Registration for the 2018 SHOT Show is now open. Buyers and range owners successfully registering to attend the show can then register to participate in SHOT Show University and other events. NSSF Members receive a discount on their registration fee to attend SHOT Show University.
Sponsorship opportunities are available for SHOT Show University and other SHOT Week events. Contact Chris Tatulli, NSSF Director, Exhibit and Sponsorship Sales, at firstname.lastname@example.org to learn more about our wide variety of sponsorship options.