Tested Business Strategy Idea
Market Overview – June 2014 End of financial year approaches! Now is the time to do some tax planning and decide if you want to sell/buy this financial year or next. Most sites under contract now, will settle in the next few weeks and it is an excellent time to chat to your accountant to find out what is the best strategy for you. There are some great bargains ready to move on now so if you are in the market for a new salon then act now! STOCKTAKES Now is the time to get your stock in order, best thing to do is print off a report from your salon computer systems to see what stock is selling and what is not. Then make a decision to package up the non performing stock and create value packs with the high performing stock. Even if you can get back the price it cost you on the poor performing stock it would be a good idea to move this dead stock and make way for some more high turnover items. Just make sure you don’t order any more of the slow stock. You’ll find that your product sales will climb and your stock holding should decrease slightly. Leaving you with more profit and less stock to count at June 30 … By the way you should all be doing end of year stocktakes at June 30 and reporting these figures to your accountant so that you can have accurate closing stock amounts for your tax returns.