In these days of accelerating costs and uncertain funding, managing your museum store like a business requires a combination of art (product selection, merchandising, display, etc.) and science (the numbers). This webinar will focus on basic, practical statistical analysis of key parts of your store, including the management of financial resources and measurements of the visitor experience as evidenced by purchases. The results of this effort can lead to incremental sales, greater profits to help support the museum and a more satisfying visitor retail experience.

In this webinar, you will learn how to:

·        Understand which calculations help to paint a picture of your customer experience and selling success.

·        Measure your revenue and expenses line items.

·        Determine how successful your efforts to control cost of goods (your biggest expense) are.

·        Establish your desired range of retail prices.

·        Measure how hard your inventory dollars are working for you

Original Broadcast: Thursday, February 13, 2014

Presenter: Andrew Andoniadis

Knowledge Standards: Financial Management

NRP Certificate Credits: 1.0