It’s the first week of November. The year is quickly slipping by us. Times have never been tougher for the small retailer. For most, sales are even or down, customers are buying less, everyone wants a discount, Amazon is killing you and expenses keep growing.
Now is the time for you to take one last look at this year’s business and ask yourself,
“Is It Really Worth It”
According to all the “experts” things really aren’t going to get any better for a long time.
Below are ten trends that are popping-up for most small retailers that I’ve talked with since the first of the year
• Sales are declining
• Customers are shopping on line
• Customer traffic is down
• Old or discontinued inventory is growing
• Cash flow is a problem
• Bank, vendor or credit card debt is increasing or past due
• Investing personal funds to cover normal operating expenses
• Profit is declining or non-exisitent..
• Stress created by the business is affecting personal & family life
• Considering getting out of retail
• Not having fun anymore
Now is the time to make some important decisions. Don’t put them off. You need to know if you still have a viable business or just an expensive hobby. You need some expert advice. Talk to your accountant first.
To learn more about a Store Closing, Retirement or Goin Out of Business Sale call
CCH Consulting at 520-305-9693 or email us at info@retailstoreclosing.com