The increase in any one of them automatically increases your profits. If you enlarge each of these factors by 15%, then you increase your profits by 87%. And if you can increase each of these factors is twice, then your profit will increase by 2033 (two thousand and thirty-three!)%. Unbelievable but true! Now let's talk about the sequence in which YOU Must raise each of these five coefficients, as they cost to you the most inexpensive is to increase the margin. You just need to change the price tags on clothes and you increase your profits. The second is the increase in costs on average income from the sale.
One of the tools to increase this factor is cross-selling. That is, clients who have already bought a suit, the seller offers to buy him a pair of matching shirts, ties, shoes, cufflinks, belt and so on. Something he still will buy, and you thus increase your average check. The third is the increase in costs on the conversion rate. It all depends on the person who is responsible for and calls from your vendor, who sells. It should be very good at sales. If you have a bad seller then hire a new one. All sellers must at least once a quarter to send the training sales.
Remember: At this stage there is no largest number of potential customers. The fourth is the average attendance costs on the client. Here you need to think about how to make patrons more to come in your store. To do this, remind yourself of at least once a month. One tool is a reminder SMS sending. Finally, the fifth factor expensiveness – increase the number of clients who come to your shop. This is the most expensive way to increase profits for your store, because it increases the expense of advertising. Invest in increasing this ratio to only after you raise first four. "Why?" – You ask. Because to sell an existing client 5-7 times cheaper than a draw and sell a new customer. So if you spend a lot of money to generate the flow of new customers, but do not try to sell already existing loyal customers, you burn a lot of daily value for money.