The Financial Basics of Garden Center Retailing... 
An Exclusive Workshop for 2021
A 6-Step Virtual Series for 2021 by Retail KPI Consulting

6 Total Online Group Sessions, plus 1 Individual Session to Review Your Worksheets and Data
Sessions 2 - 6 are 1 hour sessions, with fifteen minutes allowed for Q & A
Session 1 will be divided into multiple segments
All sessions are scheduled for 12 noon Atlantic, 11am Eastern, 10am Central

Step 1 – Opening Sessions - Scheduled February 16, 17 and 23, 2021

Topics include but not limited to the following:
  1. Profit & Loss Statement – How it is structured and what it says
  2. P&L Basics – Cash vs. Accrual and what that means
  3. P&L Statement Accountability – How to set your Chart of Accounts up for maximum benefit without overloading you and your Staff with too much data
  4. Retailer or Retailer/Grower or Retailer/Grower/Landscaper or any combination of the above – separate or continue as one reporting unit?
  5. Revenues – What this section is telling you
  6. POS accountability in order to benchmark effectively
  7. Cost of Goods Sold – How to calculate and the importance thereof POS accountability in order to benchmark effectively
  8. Operating Expenses – Fixed Expenses vs. Variable Expenses
  9. Wage & Wage Benefits – Why controlling Payroll is so important – and how to control it
  10. Profit – How Profit occurs and its importance
  11. Measuring Trends in the Profit & Loss Statement
  12. Benchmarking – Key Performance Ratios  (Internal vs. External)
  13. Margin Dollars and Percentages
  14. Inventory Turns
  15. Gross Margin Return on Inventory Investment
  16. Gross Margin Return on Labor
  17. Gross Margin Return on Category Square Footage
  18. Physical Layout’s Effect on Profit
  19. Transaction Count and Average Sale
  20. Credit/Debit Card Sales
  21. The Most Important Retail Ratios to Monitor Weekly - Monthly - Annually
  22. Cash Flow Statement
  23. Balance Sheet
  24. Assets, Liabilities, and Equity Key Ratios
At the conclusion of this series, participants will have a working knowledge of their three most important retail statements. All participants can review their statements while we discuss. No sharing of statements unless you wish to do so.
Registration is per Center and limited only by each center’s capacity to view the online sessions.
Each Center is required to have a computer available (at least one per center, shared by center’s personnel or one per person), have Microsoft Excel installed and at least one person with each center to have a basic working knowledge of Excel.

Steps 2 - 5  Online Sessions  

Step 2 - Tuesday, March 16, 2021 at 11:00am Eastern
Budgeting Revenues
Cost of Goods Sold/Purchases
Operating Expenses

Step 3 - Tuesday, July 20,  2021 at 11:00am Eastern
Budgeting Wage & Wage Benefits, Profit, and Cash Flow

Step 4 - Tuesday, August 10, 2021 at 11:00am Eastern
Inventory - How much is too little or too much
Inventory reduction methods
Controlling Shrink

Step 5 - Tuesday, September 7, 2021 at 11:00am Eastern
Miscellaneous: Pricing, Terms, Discounts, POS Systems, and Lender relationships
Any other issue participants would like to discuss.

Step 6 – Closing Session – Tuesday, October 12, 2021

In this session, attendees will not share their information with others unless they desire to do so.

Each Center is required to have for Step 6:
  1. Laptop computer (at least one per center, shared by center’s personnel or one per person)
  2. The past three-year’s P&L or Income Statements
  3. Inventory Level information compiled on a worksheet provided to them well in advance of the workshop
  4. Your Current Cash Flow Statement
  5. Monthly Balance Sheets for the past three years

From the above, you will determine your annual (unless indicated otherwise):

  1. Profit & Loss trend in a Simple Income Statement Five Line format Margin Dollars and Margin Percentage
  2. Category Inventory Turns
  3. Category Gross Margin Return on Inventory Investment
  4. Gross Margin Return on Labor
  5. Gross Margin Return on Square Footage
  6. Balance Sheet Key Ratios

The Closing of this Financial Basics for Garden Center Retailing will be a review of the February through September sessions. A worksheet will be sent one month in advance. The session will begin with a review of each topic covered, and then participants will work on their computer calculating their own center’s key ratios. If a center is unable to provide the required numbers, Steve will provide a sample set of numbers for use.

Excel template will be supplied to use in the compilations.

For individuals who feel they need more training in basic Excel use, we suggest you consider online training at (which is now LinkedIn Learning). They offer a 1 month free trail and basic level at $29.99/mo after the trial. Currently they list a number of options for beginner level. If you have questions on which topics to cover, contact Steve Bailey or Tim Quebedeaux.