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Category Growth Strategies: Moving Toward Improvement-Part 4

Category Growth Strategies: Moving Toward Improvement

By Steve Bailey and Bill Calkins

The following is the Part 4 of the series... Category Growth Strategies: Moving Toward Improvement. This was originally published in the June edition of greenPROFIT magazine and can be seen HERE. If you missed the Part 1, you can see it HERE, Part 2 - HERE, or Part 3 - HERE.

Earlier this year, Ball Publishing's Bill Calkins approached Steve Bailey about co-writing a series of articles that could lead garden centers through the basics of analyzing category performance and some of the measurements developed for The Garden Center Group Clients through the Annual P&L Study. The result is a series of four articles published in Ball's GreenPROFIT magazine in this spring.

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The Journey of Lifetime Learning

The Journey of Lifetime Learning

by Tim Quebedeaux

It has been almost a year since I started work with Steve Bailey. During that time, I have done onsite visits, attended Fall Event as a service provider, compiled the WDR weekly, and helped complete the P&L Study. I have gained a great appreciation for accountability in numbers and in the resolve of Garden Center owners to succeed. From those early Garden Center days to today, I recognize valuable information that I could have used 20 years ago, when I started managing Garden Centers.

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Time to Get Back to Work – Part 3

Time to Get Back to Work – Part 3

by Sid Raisch

[Rudbeckia shown is an AAS Winner for 2020: Rudbeckia x 'American Gold Rush' ]

This is a Challenge for 2020 to become Exceptionally Exceptional

Double GMROII of Perennials in 2020

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Time to Get Back to Work – Part 1

Time to Get Back to Work – Part 1

by Sid Raisch

You came, you saw, you heard at the Fall Event 2019, then you went back to doing pretty much the same thing so far, didn’t you?

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Profit - It’s All About Change

Profit - It’s All About Change

by Steve Bailey

The Group's Annual P&L Study for 2018 resulted in the highest number of awards ever presented. During The Fall Event, awards were given for both the High Achievers and Best Practices Centers for profitability. The photo below are those centers who were present and received the High Achiever Awards for 2018.

All of you joined The Garden Center Group for a reason. Maybe it was for the camaraderie of networking with peers, possibly to work more closely with Service Providers within The Group, to access the financial tools such as the Weekly Department Review and P&L Study, or any of the other numerous reasons there are to be a part. Most likely the underlying reason was you needed Change and all of the above enables you to enact it.

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Building Our Team!

Building Our Team!

by Steve Bailey

I remember it like it was yesterday. It was in March 2001. I was trimming the boxwood in front of our house. Bonnie and I had just sold our garden center the month before, and I was still considering my options for employment over the next fifteen to twenty years. That’s when Bonnie came to the front door and said, “Robert is on the phone and wants to talk with you”.

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The Pulse of the Garden Center Industry – Part 2

The Pulse of the Garden Center Industry – Part 2

by Steve Bailey

Besides Revenues, what’s the most important ratio for a business selling a product? I’ll answer that one for you; it’s the COST of the product being sold.

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The 2016 Profit & Loss Study – Revenues and Expenses

Revenues and Expenses by Steve Bailey

The basic function of any Profit & Loss Statement is to measure the performance of an entity, in the form of Profitable or not. But most P&L’s are not exactly like the one you find in The Group’s Profit & Loss Study. In most cases, the P&L your CPA or tax reporter gives you is geared toward tax reporting, and not business management. The Group’s Profit & Loss Study measures Operating Profitability, allowing a direct comparison to other garden centers in a like mode of operation and/or size. Better yet, it allows your center to compare your numbers with all of the centers that reported as well as the Best Practices/High Achiever group.

Let’s begin with the basic Profit & Loss section, which encompasses all of the incoming money in the form of Revenues and the expenses going out in the form of Cost of Goods Sold, Operating Expenses, and Wage & Wage Benefits.

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