Retail Survival in Tough Times

RETAIL SURVIVAL IN TOUGH TIMES Are you staying in or getting out? Retail is under fire! Both large chains and small shops are battling to survive. It's tough out there for retailers. Business is changing with consumers challenging retailers to adapt to their needs and the way they want to live and shop. Shops are closing everywhere and traffic flow to many shopping centres is falling. Several shop owners are struggling to get out of their leases. Online shopping is impacting on sales, rental costs are increasing and soon the carbon tax will further drain the profits of even the most successful stores. In this climate, how can retailers, both big and small survive? This book examines the following key issues: • The impact of online shopping and how to fight back • Negotiating a rental rebate from a landlord. • Insuring that a supplier is giving the best deal. • Using the techniques of ratio analysis to measure performance and ensure continuing support of the bank. • Negotiating with the bank manager for a loan. • Controlling cash flow and buying stock within your means. • Maximising your profit from each square meter of store space. • Using the technique of "break even analysis" to measure performance. The book also takes the retailer through the following steps of successfully exiting from the business: • Succession planning. • Bringing in a junior partner. • Mentoring a successor. • Valuing the business • Using the lease to maximise the value of your sale. • Appointing a suitable business broker. Hymie looks at the difficulties facing retailers, asks the hard questions and provides simple solutions. Retailers can go straight from this book to their office and implement his suggestions. About the Author: Hymie is a certified practicing accountant (FCPA) with many years financial and management experience, and has run his own consulting company, specialising in the retail and property industry. In his role as business consultant, Hymie Zawatzky has assisted many retailers with the basic requirements of running a retail business in Australia. Also a number of large companies work with him in developing their retail strategies in these uncertain times. He is the author of the books: Australia the immigrants guide and Retail Australia - Understanding the Finances of your Business, both of which have sold in Australia and Internationally. If you have an interest in the retail sector you will thoroughly enjoy and benefit from reading Hymie's new offering.