Knowledge by Knumbers

by Danny Summers

OK, my spellcheck is not disabled. I wanted to intentionally misspell Numbers in order to grab your attention. If you are reading this now I guess it worked. ;-)

In general, Numbers is a big part of The Group Experience. Just from a "people point of view" when you consider our largest eList, GroupEs, has over 580 people subscribed to share all types of information. That's Numbers.

And at the heart of The Group Experience are two industry-exclusive programs that share Numbers – lots of Numbers. Both the Weekly Department Review (WDR) and the Annual P&L Study compile and share an amazing level of Numbers. By the way, you only have 10 more days before the deadline (February 15) for the 2023 P&L Study reporting. Don't miss your chance to be in the study and gain valuable insight from these Numbers!

Another important Numbers program begins this Friday, February 9th:

The 2024 Financial Basics of Garden Center Retailing Series

This February to October Series is starting its 9th year and believe me... it truly is Knowledge by Knumbers!

The Garden Center Group and Retail KPI Consulting have created an exclusive virtual workshop series designed for Garden Center Owners and Managers to develop the skills needed to maximize profitability.

This comprehensive 7-Step Series includes 6 Online Sessions, plus 1 Individual Session to Review Your Worksheets and Data.

The series will cover more than 24 financial topics (seen below), as well as key Group benchmarking and ratios – used by our most successful Group Centers.

Don't let the title fool you... this workshop goes well beyond the basics!

Topics include but are not limited to the following:

1. Profit & Loss Statement – How it is structured and what it says
2. P&L Basics – Cash vs. Accrual and what that means
3. P&L Statement Accountability – How to set your Chart of Accounts up for maximum benefit without overloading you and your staff with too much data
4. Retailer or Retailer/Grower or Retailer/Grower/Landscaper or any combination of the above – separate or continue as one reporting unit?
5. Revenues – What this section is telling you
6. POS accountability in order to benchmark effectively
7. Cost of Goods Sold – How to calculate and the importance thereof POS accountability in order to benchmark effectively
8. Operating Expenses – Fixed Expenses vs. Variable Expenses
9. Wage & Wage Benefits – Why controlling Payroll is so important – and how to control it
10. Profit – How Profit occurs and its importance
11. Measuring Trends in the Profit & Loss Statement
12. Benchmarking – Key Performance Ratios (Internal vs. External)
13. Margin Dollars and Percentages
14. Inventory Turns
15. Gross Margin Return on Inventory Investment - GMROII
16. Gross Margin Return on Labor - GMROL
17. Gross Margin Return on Category Square Footage
18. Physical Layout’s Effect on Profit
19. Transaction Count and Average Sale
20. Credit/Debit Card Sales
21. The Most Important Retail Ratios to Monitor Weekly - Monthly - Annually
22. Cash Flow Statement
23. Balance Sheet
24. Assets, Liabilities, and Equity Key Ratios

Exclusive Series Resource Page: Participating Centers have access to an Exclusive Resource Page for this Series that contains each session's recording plus tools, handouts, and worksheets – available to you all year. You can review again and again with your staff as needed throughout the Series!

If your Center has participated in previous year Series, your team can still benefit from the Optional Refresher option.

If your Center is new to The Group, this is the perfect way to jump in and learn most all of The Group's Financial KPIs.

Creating the Knowledge and habit to study the Knumbers on a regular basis throughout the year can help you reach new levels of success.

The Financial Basics Workshop is truly Knowledge by Knumbers!

Complete details and signup for the 2024 The Financial Basics of Garden Center Retailing Series is HERE. Although it begins this Friday... it's not too late to sign up!