When to Finance Equipment vs. Lease Equipment
To purchase equipment is one of the most common reasons why small businesses seek financing. Being able to afford the equipment on your own would be great. But, that is not the case for many small businesses. These small businesses have to choose between financing and leasing it. Let’s look at the two in detail […]
5 Companies Who Best Manage Inventory [and what we have learned from them]
When 20-30% of your business budget is spent on maintaining your inventory, it’s time to take a step back and ask whether it’s being efficiently done. A recent study shows that 43% of small businesses track their inventory manually, or don’t track it at all. Inefficiencies like this can leave a lot of money on […]
Manage Small Business Inventory Better [Free Guide]
What’s Included in this Guide: Elements of Inventory Management The Most Effective Inventory Management Techniques The different Inventory Valuation Methods to Use Inventory Metrics to Know for Your Business Inventory management is a set of procedures for managing non-capitalized assets (i.e inventory) and stock. Inventory management includes various aspects of stock management such as Ordering […]
How to use capital to Grow your Event Services Business
In an industry as competitive as event planning and services, it’s important to stay innovative. Several event service businesses make the mistake of sticking to what they know – whether it’s their clientele base, location, or even the events they cater to. Investing in new revenue streams and expanding your business can open new opportunities […]
How your Small Business Can Expand to Dropshipping
Imagine being able to run your own e-commerce site without having to worry about stocking and shipping inventory. This is precisely what dropshipping facilitates. Dropshipping is an order fulfillment method where the website owner works with a reputed dropshipping company to deliver products directly to customers. The best thing about drop shipping is that the […]
How to successfully Manage Inventory as a Florist
In this post: The challenges of managing inventory during the busy season The process of successfully managing and purchasing inventory during the busy season What you can do to help steady your retail floral shop’s cash flow during inventory purchasing Floral businesses make most of their profits during busy seasons like; Valentine’s Day, wedding season […]
How to find success owning a Sporting Goods store in 2019
Sporting goods stores are a dynamic segment of the retail industry. The sports equipment industry has fast changing models of equipment and sportswear trends that are hard to keep up with. Digitization in this industry is an advancement that has created challenges for the small sporting goods stores. With e-commerce giants like Amazon and eBay […]
Boost your Restaurant’s Customer Experience by using Data
The experience customers have at your restaurant will determine if they will come again and if they will tell their friends. There is a lot of customer data available to collect, analyze, and act upon. The goal is to boost the customer experience so that your restaurant succeeds. Read on to review how to see […]
Hiring for your Retail Business: Why hire an Accountant?
Accounting for your retail business is not the same as accounting for other small businesses. There are many accounting challenges that are unique to this sector like improper inventory management, misplaced paper bills, and day-to-day transactional errors. They only increase if you do not have a dedicated accountant or an accounting firm that can take […]
