Unfortunately, retailing is a bit more complicated. Today, the lion’s share of lost profits and poor cash flow for independent retailers are due to their inability to effectively plan and budget future merchandise expenditures. Although these costs can run fifty to sixty percent of sales or more, many golf pros, attempting to wear too many hats, plan and budget their trips to Orlando with greater care and detail than they do their major capital outlay. They look for help with this aspect of their business to friends, family or shop managers who they deem to have “good taste” in clothing.
Successful apparel buying for any retail space, including the typical golf pro shop, is about 80% science and 20% art. Everyone is an “artist” but very few fully understand the science.
Let me provide the science.
THE PROGRAM
PHASE I
PHASE I
- Evaluate current inventory levels
- Analyze sales history
- Evaluate fixturing and use of retail space
- Create overview and schematic of shop selling space and fixturing
- Develop buy plan by determining:
• OIL (Opening inventory level)
• Projected turns based on peak volume history
• Goals for sales volume and margin
• Vendors and categories (preferred/needed) - Price points needed
- Develop tournament packages as needed
- Determine tournament needs and build into plan
- Review findings and buy plan for approval
PHASE II
- Schedule and meet with all selected vendors
- Initiate spring buy plan and pre-book where appropriate
- Determine promotions needed
- Schedule off-price for margin enhancement
- Develop key person for in-stock programs and floor sales
PHASE III
- Supervise merchandising of shop for spring opening
- Review staff knowledge of spring product
- Provide sales and product knowledge seminars
- Initiate fall buy plan and pre-book where appropriate
- Spend time on floor with customer
- Review fall promotion needs and plan accordingly
- Review all ancillary buys, e.g. member-guest favors
PHASE IV
- In-season monthly visits
- Re-merchandise shop
- Continue education of key people
- Place needed spot buys
- Evaluate need for off-price fill-ins
- Review sales history to date
PHASE V
- Supervise merchandising of shop for fall season
- Evaluate spring and summer sales
- Plan holiday business if appropriate
- Plan end of season promotion needs
PHASE VI
- Provide end of program review and suggestions for upcoming season
Retail Consulting Clients
Robert Trent Jones
2005 President’s Cup
Bulle Rock
LPGA McDonald’s Championship
Ocean City Golf Club
Hasentree Golf Club
Country Club of Maryland
Kinloch Golf Club
Sparrows Point Country Club
Park Country Club
Belle Haven Country Club
The Patterson Club
Bayville GC
“ By using Craig’s techniques I lowered my average inventory and increased profitability. We now emphasize those areas that produce the most to the bottom line”
Buddy Sass, PGA Professional Ocean City Golf Club
2003 Merchandiser of the Year
