Aren’t you just worn out hearing brick-and-mortar showrooms are giving way to the Internet? I know I am! First, I don’t believe it. Second, I know there are a number of things you can do to prevent it from happening.
I’ve always been a numbers kind of guy! I liked math when I was in school and learned very early on how powerful numbers can be in helping run a business. The more ways you can analyze your business, the more successful your business will be. STOP! Don’t move onto the next article just because numbers aren’t your thing. At least give me an opportunity to explain why I strongly believe you should incorporate numbers into the management of your showroom.
I probably shouldn’t admit this, but I’m writing this article on a ship in the middle of the Atlantic Ocean at the tail-end of a 30-day cruise through the Mediterranean Sea, across the Atlantic, through the Caribbean and ending in Miami.
I doubt any of you are surprised that the number of private-label products showing up in the marketplace is rapidly growing. Many of you are starting to show and sell your very own private-labeled faucets, bath accessories and other popular showroom sell items.
I just finished reading the synopsis of a book entitled “The 1% Windfall” by Rafi Mohammed. I strongly recommend you read it. It reminded me once again that the average gross margin on sales for plumbing wholesaler showrooms is lower than it should be.