Planning for 2012

It’s December and the start of another year is almost on us.  2011 has been a very eventful year with Royal Weddings, Riots and Recession affecting many of us.  2012 is going to be a very busy year for the independent retailer with the Queen’s Diamond Jubilee, the London Olympic Games and Euro 2012 as well as all the regular seasonal events. And then of course there is the challenge of the economically troubled times.

So how are you going to make the most of the opportunities that 2012 will present? Here are some of my thoughts.

• Put together a budget for sales, gross profit and costs.
• Plan to check your actual sales against your budget on a monthly basis.
• Know your best sellers.
• Make sure your merchandising reflects best sellers profit value.
• Deal with your worst preforming products.
• Look at your shop from outside and ask yourself and passers by if it is fit for purpose.
• Review your marketing, is it working? How many new customers did it deliver to you in 2011?
• When did you last invest in your shop, is 2012 the year for a refresh?
• Do a deep clean of your shop.
• Talk to your key supplies about how they will help you succeed in 2012.
• Are you due Business Rate Relief? Check with your local council and if you are, apply for it.
• Look at your place in your community and get involved in their 2012’s celebrations.