Increasing margin through better buying and careful budgeting can improve your cost of goods. This session will use data from ABA’s ABACUS report to outline a path to improvements in a store’s cost of goods, leading to improved financial decisions and substantial savings. The booksellers on this panel are excited to share straightforward financial practices that will make a big difference to the financial health of your business. In this session, booksellers will learn:
- How to read the ABACUS report, including how to compare your data with national averages
- How to make small changes to cost of goods that will result in a positive financial impact
- How long it takes to see the results of small changes to cost of goods
- How to evaluate which financial changes are the ones that will most benefit your business with the least worry and work
