for Gift Shop Managers and Buyers
Take the guesswork out of developing your shop’s annual plan. The Twelve-Month Action Plan is a 50-page guide that will keep you and your shop running on schedule. Sample page
- 30+ sales event and promo ideas
- Monthly to-do list
- Roadmap for what to buy and when
- Sign templates
- What to display & when
- Mark down schedules
- Tradeshow reminders
- Tips to move merchandise
- Display solutions
- Shop operating best practices
- Staff and volunteer management
We purchased your 12-Month Action Plan. It has helped us tremendously to “stay on top” of things and to plan special events for the year. Thanks, Cindy!
How to Conduct
a Physical Inventory
It is crucial for hospital gift shops to take an annual physical inventory at the end of each fiscal year, preferably on the last day of the shop’s fiscal year. Taking inventory is one of the most important “accounting” activities a shop can perform.
Use this step-by-step guide for conducting your shop’s annual physical inventory. The guide includes:
- Why a physical inventory is crucial
- How to prepare your shop for the inventory
- What to do on inventory day
- A Physical Inventory Worksheet template
- How to calculate Per Category and Total Shop Inventory
- How to convert figures from retail to cost
- Category Space Allocation based on Profit Margins
- Formula for calculating Cost of Goods Sold
- Why take inventory at retail prices
Guide to Calculating Shop Profitability
How does your shop measure up? How is your shop really doing in terms of profitability? Are you doing as well as other shops of comparative size?
Cindy leads you through steps to determine your shop’s profitability and look at how it compares to other shops across the country.
Calculate profitability using either annual gross sales per square foot or net profit percent of gross sales (net profit margin).
Benchmarking your shop against others helps you set – and reach – higher goals.
Includes additional calculations for:
- Cost of Goods Sold
- Gross Profit Margin
- Markdowns and Shrinkage
- Operating Expenses
- Salary Costs
How To Implement An Employee Payroll Deduction System
for Hospital Gift Shops
Employee Payroll Deductions increase a hospital employee’s buying power.
This detailed implementation guide walks you through the steps for requesting, selecting, and implementing an employee payroll deduction system.
The guide includes:
- A sample Letter of Request
- Payment option plans
- Guidelines for integration with a Point of Sale System (POS)
- Sample form for Gift Shop Payroll Deduction Authorization without a POS
- Benefits and risks of payroll deduction
- Options for a minimum/maximum purchase policy
Hospital Gift Shop
We surveyed hospital gift shop managers throughout the United States. Over 150 managers responded to 53 questions on everything from salary to management oversight, gross sales, operations, financial software, shop hours, inventory, displays, fundraisers, shop size, market attendance, POS systems, mark-ups, volunteers and more. Sample questions include:
- What is your annual base salary?
- What are your shop’s annual GROSS sales?
- How many volunteers work in your shop?
- Who does the buying for the shop?
- How often did your stock turn last fiscal year?
- What was the initial cost of your shop’s POS system?
- How often do you change your displays?