Hardware Retailing

SEP 2017

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

Issue link: http://www.hardwareretailingarchive.com/i/863265

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Page 10 of 118

HARDWARE RETAILING | September 2017 6 On the Web • Introduction to the Inventory Cycle Use this video to help employees learn the basic elements of the inventory cycle. • Inventory Management: How You Can Help Use this presentation to review ways employees can help keep an accurate inventory count. • Basic Pricing This short video will explain the basics of cost, retail price and profit margin. Here are three lessons from the Trainer's Toolbox archives that will help your employees understand some basic operational concepts. Visit nrha.org/freetraining to download these lessons for free. SOCIAL MEDIA LINKS @hardwareretail facebook.com/HardwareRetailing OPERATIONS Using Numbers to Increase Profit With only 3,500 square feet to work with, Neal Aissa, operations manager at Tarzian Hardware in Brooklyn, New York, is on a mission to maximize his space and run a highly efficient salesfloor. Visit TheRedT.com/tarzian to learn how Aissa uses his financial statements to concentrate on boosting margins and inventory turns. MARKETING RESOURCES Facebook Ad Tips and Tricks If you want to get your brand in front of customers on social media, it's time to start dedicating part of your budget to Facebook ads. If you're not sure how to get started, or if you're looking to learn more, check out a list of online resources at TheRedT.com/facebook-ad-tools. PRODUCT CHECKLIST Do You Offer the Necessities? If you have an auto, RV and/or marine category, this checklist is for you. Retailers who specialize in these categories share what products they consider must-haves in these departments. Hardware Retailing has compiled a checklist at TheRedT.com/auto-rv-checklist for you to use to make sure you're offering the essentials. FINANCIAL RESOURCES Understanding Your Financial Statements If reading your financial statements sometimes feels like reading another language, don't worry, you're not alone. To help you understand your statements and how to use them to make more informed business decisions, consider using this list of training tools and articles at TheRedT.com/financial-tools. TRAVEL BLOG NRHA Abroad: Retail Lessons Around the World NRHA staffer Hilary Welter recently returned to the U.S. after traveling and working remotely for a year. Visit TheRedT.com/nrha-abroad to read about her retail experiences and home improvement store visits along the way.

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