Page 92 - Spring Into Markets

1: Sales
Sales is also commonly referred to as turnover; this is the money your business takes through the sale of products or services. While you will probably already have a good idea of how much money your business takes, it is worth ensuring you have a system for recording sales on a daily basis throughout the year.
A simple cash book will do. You can then record sales, by trading day and date.
This will enable you to identify busiest trading days, times of the year and will enable you to compare this week with last week and this year’s trading to next year.
This will help you to plan staffing, stock levels and promotions.
A simple cash book or spreadsheet with the following headings will help you to record your sales levels.
Day
Daily Sales
Last Week
Last Year
Cumulative Weekly Total
Comments
£
£ (+ / -)
£ (+ / -)
£
If sales are increasing consider:
C Increasing stock levels
C Adding more products
C Getting more space/a second stall C Extra staff
If sales are decreasing consider:
D Running a promotion
D Reducing future stock orders/levels
D Reviewing the layout of the stall
D Updating/reviewing the product range
92 Monitoring Performance
Guide 13