Your federal taxes are sent through the IRS to confirm your tax liability. By filing business taxes accurately you are less likely to be targeted for a tax audit which is an extensive and painstaking review of your business’s financial records.
Staff, ingredients, customers, profits: you know these are key factors that affect restaurant performance and success. That’s why having accurate updates on each of these
Your inventory is what keeps your business running. It comprises all the materials and products that make your shop unique and keep customers coming back.
When you account for all your audience’s senses, you’ll start to notice it exposes things in your business you may not have easily noticed before. Making sure all five of your customers’ senses are catered to will make shopping in your store more engaging. Shoppers will be more inclined to come in and look around, even if they’re not quite sure why.
Completing a physical inventory count is important for meeting customer expectations and determining your ending inventory value. Your ending inventory value is used for tax purposes and financial statements during the next accounting period.
Conducting a year-end inventory count and calculating ending inventory can put a lot of pressure on retailers. That’s why we compiled this guide to walk you through your end of year inventory tasks step by step.
Creating Shopping Ads allow Google to work its magic with an algorithm that displays your product in front of the right people. This means your product can jump to the top of a number of search results. Additionally, you can optimize your listing even further on Shopping Ads to set your products apart from free listings.
The Shopping tab on Google consists of both free and paid product listings that are relevant for a buyer’s search. For shoppers, it can lead to more available e-commerce products online from more stores. Additionally, it’s a source to compare vendors, prices, and conveniently place an order.
There’s no part of inventory management that’s more subject to mind games than pricing. The way you set your prices dictates a lot about the consumer’s behavior—whether they realize it or not. Sales pricing strategies are important because they help you understand your customers’ needs and preferences. They also determine the best price point for driving revenue.
A/B testing pits product variations against each other to eliminate products or strategies that aren’t effective. That way you can maximize profits and conversion rates on the items you do sell. It’s not just about raising or lowering prices. It’s analyzing your inventory as a whole so you can make business decisions based on data, not intuition.
Cycle counting is the process of counting small sections of your inventory so you cycle through your entire inventory on a consistent basis. Many business owners aren’t fully aware of all the products on their shelves and in the back of their warehouse. This not only impacts your inventory records, but means you probably are making business decisions based on guesswork rather than data.