The Financial Basics of Garden Center Retailing... 
An Exclusive Workshop for 2024
A 7-Step Virtual Series for 2024 by Retail KPI Consulting

6 Total Online Group Sessions, plus 1 Individual Session to Review Your Worksheets and Data

Session 1 will be divided into multiple segments
Sessions 2 - 6 are 1-hour sessions, with fifteen minutes allowed for Q & A

All sessions are scheduled for 12 noon Atlantic, 11 am Eastern, 10 am Central, 9 am Mountain, and 8 am Pacific

Special Series Resource Page:  You have access to an Exclusive Resource Page for this Series that contains each session's recording plus tools, handouts, and worksheets – available to you all year. You can review again and again with your staff as needed throughout the Series!

Step 1 – Opening Sessions (Scheduled February 9 & 16, 2024)

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 them. 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 - Friday, March 15, 2024 at 11:00am Eastern
Budgeting Revenues
Cost of Goods Sold/Purchases
Operating Expenses

Step 3 - Friday, July 12,  2024 at 11:00am Eastern
Budgeting Wage & Wage Benefits, Profit, and Cash Flow

Step 4 - Friday, August 9, 2024 at 11:00am Eastern
Inventory - How much is too little or too much
Inventory reduction methods
Controlling Shrink

Step 5 - Friday, September 13, 2024 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 – Friday, October 18, 2024

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, you will be provided a sample set of numbers for use.

Excel template will be supplied to use in the compilations.

Individual Sessions to Review Your Worksheets and Data should be scheduled following the completion of Step 6 Worksheets.

Special Refresher:  If you have previously attended the Financial Basics Workshop for Garden Retailing, a Special Refresher is available to you. xThis includes 6 Total Online Group Sessions. It does not include the Individual Session to Review Your Worksheets and Data.

For individuals who feel they need more training in Excel use, we suggest you consider online training at LinkedIn Learning. They offer a 1-month free trial, then $39.99/mo or $19.99/mo if you pay for the one-year subscription. If you have questions on which topics to cover, contact Tim Quebedeaux.