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The Profit Lady

Episode 2
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March 5, 2023

Prefer to listen? Here you go! And be sure to subscribe and leave a review on Apple here.

Cathy Wagner, The Retail Maven, or as I lovingly refer to her…The Profit Lady…joins me on this episode to talk about profit when it comes to retail. She has loads of experience helping retailers make more money, have more profits, watch out for retail market trends, and stay ahead of the game.

She shares her actionable tips and steps to bring more profit to your retail business…like these 3 KPIs you NEED to pay attention to:

Rent Costs – 10% of Sales
Team Payroll Costs – 10% of Sales
Inventory and Costs of Goods – 48% of Sales

Have you ever doubted the impact of quality customer service? Cathy shares a story about a personal experience she helped create for a retailer by making detailed, personal calls to their top customers. Those phone calls alone resulted in 30k worth of sales!

We also talk about a tricky subject for retail owners: paying yourself! Not paying yourself is not the favor you think it is. You have to value your time and input into your business, this mindset will impact your business and profits for the better.

Cathy shares a ton of great information and resources in today’s episode. So please check out the links, training, books, and whatever can be of use to you. We’re here to help…and we’re rooting for your success!

What's Inside

  • Actionable steps for more profit in your independent retail business.
  • Staying up to date in the ever-changing world of retail.
  • Comparing and watching retail trends.
  • A retail story of making 30K with the power of customer service.
  • Is there a hole in your business?
  • Are you STILL not paying yourself?

Resilience Round

Best Business Book

Best Retail Technology

Crystal Vilkaitis - Host of Rooted in Retail

About Rooted in Retail

Running a store can be tough, but it doesn’t have to be lonely! Rooted in Retail is a show dedicated to helping independent retailers thrive in today’s ever-evolving retail landscape. This show is made for Main Street retailers like gift shops, jewelers, pet stores, boutiques, florists, home decor and furnitures stores, hardware stores, toy stores, craft, quilting and sewing shops; tea and coffee shops, specialty retailers and more.

Join your host Crystal Vilkaitis weekly, as she explores topics that are vital to the success of your store. From marketing to mindset, money to merchandising, sales to leadership, she’ll cover it all. Each episode features interviews with industry experts and accomplished retailers who share their real-life insights and actionable advice. Get ready for a great conversation on how to build your dream business with Rooted in Retail. This show is produced by Crystal Media, a company that helps indie retailers shine online through social media.