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MSA FORWARD VIRTUAL 2021 Conference Education Session Recording

Session Title: Can you get more from the ROI in your business? Sponsored by: David Howell & Company 

Speaker: Tom Shay

Knowledge Standards:
Financial Management
Merchandise Planning

Look at your museum store as if you owned it. There is a substantial investment of money in the store. If that money were instead invested in stocks, bonds, or a money market, as the owner you would surely want to know what the rate of return would be. Shouldn’t you want to know what the rate of return is for the money invested in your museum store? And more importantly, you need to know how to improve the rate of return.

One of the biggest investments your museum store has is with the inventory. What store doesn't have some inventory that has been sitting dormant in the warehouse, stockroom or worse yet, on the sales floor? Perhaps you even have a part of your sales floor that is your “clearance corner”.

This session, utilizing a free calculator on the Profits Plus website, will show you how to calculate your ROI, how to improve your ROI, and just how much it is costing you to be holding onto that dead inventory.