Crown Elon offers specialized services which include:
Managing inventory as an investment is the most effective way to profit from the products your business sells. Outside of buildings, inventory is usually the largest use of capital for retailers, wholesalers and distributors. Clarity of your market niche is increasingly important. Information on market trends and new upcoming popular products circulates around North America faster than ever before.
Do you count inventory 1, 2 or 4 times per year? If so, are you generating ratios to help you understand how to keep your cash tight so you can easily pay your bills? Do you know how to determine which products to keep and add more of the same brand? Conversely, do you know how to analyze your individual and category SKUs so that you know what items to discontinue? Do you know how to determine cash contribution of SKUs that you might have otherwise discontinued?
Gross margin alone can be misleading. Is your return on investment of inventory working smoothly and do you understand how to manage it to increase your profit?
We can help you address these questions and other opportunities to improve margins, cash flow, use of capital, choice of products and set up procedures and reports to make inventory management an exciting process.
As your business grows, its structure and systems may need to change to optimize functionality, effectiveness and efficiency. As the market changes, your goals and methods of adapting may change.
Getting the right people hired or promoted is essential. No business is exactly like another, so procedures, job descriptions, checklists and effective project teams need to be customized for the business to stay productive and profitable.
Crown Elon assists you in setting up effective systems and structure to address what your business needs now as well as for the direction you want your business to go.
Good resets make it easier for your customers to be drawn and attracted to a specific section in your store. Resets also make it easier for customers to find the items they’re looking for.
There are important questions to ask yourself. What items should be emphasized in a reset? What items should be cross merchandised? What do you do to revitalize stagnant sales in a category? What color combinations and sets of products help attract customers to a section? When and how should you demonstrate a product to customers?
Resets should be well planned. We work with retailers to make resets positive and profitable.
Spending money on equipment often appears to be easy. And sometimes it is. Choosing the right new equipment or paying for a major repair or upgrade of your current equipment requires the right research. This includes the ROI you expect from the equipment and a clear understanding why it will deliver that ROI. How do you do a thorough job of vetting vendors and their equipment?
Then there is the question of how much it will cost in labor, parts and supplies to maintain the equipment in good working order to produce what you want it to.
The benefits of getting a good ROI on new or repaired equipment can be great when done right. We can help you do this and learn the process at the same time so you can do it for your other equipment purchases in the future.
A good Point-Of-Sale system requires excellent and competent technical support. If you do not have a reliable and competent technical support team inside your organization, you need one under contract to help you optimize the financial and data reporting benefits of your POS. Do you understand how to minimize additional fees and charges with your technical support company? Do you know how to use the POS system’s reports in a practical way that will improve your operations? Do you know how to utilize the SKU reports to improve turns? Do you know how to protect your POS data so that if it is lost it will not cripple your business?
And if you are thinking of switching to another POS system, do you know how to research and vet the hundreds of systems on the market to best meet your needs and goals?
Point of sale systems can be a wonderful part of your business systems. Let us help you optimize them for your business.
We have found that most businesses have never attempted – or even knew about getting – a review of these costs or if they did it was a long and tedious process for them.
Through us, you will not be charged for this review. We do all the legwork to calculate and determine if your business is due a rebate. We also can determine if there is a lower rate you can pay for these services to save you money moving forward.
Financial statements are the map to your business. A good CPA and bookkeeper will make your business numbers understandable and available for you to manage your business.
Financial ratios are the GPS to help you navigate your financial statements more quickly and determine if you are on track to reach your goals. They will also tell you if your staff needs to make adjustments or changes to your operations.
If you need help to set up the financial GPS for your business, give us a call.
We have experts on our team who help entrepreneurs plan and prepare to sell their businesses and broker the deal.
Are you getting the best pricing and services from vendors? As your business changes and the market changes your opportunities change.
Don’t pass up on cost savings and profit enhancing services that vendors can provide you with. Let us know if you‘d like us to help you improve the profit and benefits from vendors.
Communications is a two-way street but sometimes it goes down back alleys and into closets hidden away from the management and owners of the business.
Good communication is a core part of business. Is your business a place where customers like to shop and employees like to work? How effective are communications in your company?
We train employees and management in Effective Communications Practices and Standards so that you have good customer service, high employee morale, and rapid discovery of problems in the company.
Standing out in the market so customers notice and respond to your marketing messages does not have to be expensive but it does have to be effective and requires work. Every company experiences dry spells and downturns in sales and customer interest. There are practical ways to get back in growth mode.
Questions to ask yourself are: Are you reaching the customers you want? Do you know what those customers want? Do you know the three things people want from your business that will help ensure they become regular customers? Both new and traditional marketing methods are effective in the right mix. Being clear about your target market and having a laser specific Vision, Mission and Purpose are crucial to helping you reach your goals.
One of the most effective, powerful and long-lasting marketing strategies is Relationship/Referral Marketing. Building effective and solid relationships with customers as well as business professionals in your community is key to spreading the positive word about your business. Are you currently putting these techniques into practice and are you being effective? Relationship/Referral Marketing is one of our specialties.
Have you put off writing articles and blogs about your company, your industry, products or services because you just don’t like to write, or don’t have the time? Do have effective and interesting marketing materials to post online or hand out to your customers or clients, as well as to the business community? Do your current materials need a facelift, perhaps some editing and refreshing?
We can help you polish up your materials as well as write something new and vibrant to help your business stand out and outshine the others.
For new and established businesses, getting clear about what you want to accomplish and what is possible sometimes cannot be done with your current company mindset.
We guide business owners and managers through the brainstorming and problem-solving process and help them break out of stale ideas and methodologies holding the business back.
Breaking through and discovering fresh new ideas to address current needs and ways to reach new goals is exciting and implementing them is even more satisfying.
Is it time for you and your business to take a fresh new look at your company and possibly identify innovative ways to move forward and into greater success?