In business, it is essential to know the path just traveled. Most organizations take a look back at the preceding 1-2 months to evaluate their financial results and attempt to make rhyme or reason of it. Lengthy discussions are had to either justify or explain the results—of which there is no way of amending. In [...]

Every small business owner faces the same issue—managing their expenses. While most small businesses keep a keen eye on growing the top line—revenues—many small businesses fail to address their expense line items on an ongoing basis. Granted, once the business started, all line item expenses were carefully reviewed. But, now that your company is established, [...]

Growing your enterprise can usually be accomplished following two paths: a) organic growth—the process of building your overall portfolio of stores through the development of ground-up store build outs; or b) expanding your portfolio through acquiring other locations. In most cases, the strategy of a growing an organization is generally accomplished with a combination of [...]

The art of understanding your business from a financial perspective is a critical step for any entrepreneur. Knowing your business—financially—will provide the business owner the avenue for achieving both their short and long term goals. Today’s cash flows are met, and solid financial acumen positions tomorrows potential exit more effectively. While we would all like [...]

By John Matthews, founder and president of Gray Cat Enterprises Inc. There comes a time in every multi-unit retailer’s business cycle that they want to launch a new product that requires a reconfiguration to their store. I am not talking about a raze-and-rebuild, but rather something as simply sending a new piece of equipment to [...]

By: John Matthews, founder of Gray Cat Enterprises. Hopefully your business is growing, cash flow is strong, and if that is the case, what a fantastic scenario to be enjoying! Now, one must determine what are the best ways to put those earnings to use. For the “live for the moment” entrepreneur, one could simply [...]

By: John Matthews, founder of Gray Cat Enterprises. In the convenience store marketplace, margins continue to tighten on core products such as candy, snacks and tobacco. Prudent operators are attempting to stem the tide by introducing foodservice items into their stores. Most facilities provide plenty of customer traffic and space within the store to enable [...]

By: John Matthews, founder of Gray Cat Enterprises. With the New Year upon us, planning for your annual merchandising and promotional schedule should be in place. For the multi-store operator, identifying the key initiatives for each of the merchandising categories is critical to remaining on plan (and on budget) throughout the year. Each category should [...]

By: John Matthews, founder of Gray Cat Enterprises.  It is official. As of Dec. 5, Gray Cat Enterprises marks the longest consecutive stint in my background for one place. Gray Cat Enterprises hit eight years, 244 days old on Dec. 5, which now surpasses the time I spent at Little Caesars. It is hard to [...]

By: John Matthews, founder and president of Gray Cat Enterprises Inc. Upon opening their first store, many single-store operators come to an, often premature, conclusion that they are going to franchise. While this may be a noble end-game goal, what is often missing from this proclamation is determining whether or not their concept is “franchishable.” [...]

By: John Matthews, founder and president of Gray Cat Enterprises Inc. Joining and becoming active in your local chamber of commerce is an excellent way to increase your store’s visibility within your local business area.  In addition to meeting a number of key local business contacts who can turn into group sales and individual patrons [...]

By: John Matthews, founder and president of Gray Cat Enterprises Inc. Self-service kiosks continue to be a growing trend in retailing and is expected to accelerate over the years.  By the end of 2012, nearly 2 million self-serve kiosks will be in place, and savvy retailers should consider capitalizing on this trend.  This exploding industry [...]

By: John Matthews, founder and president of Gray Cat Enterprises Inc. Looking for a way to invigorate your store staff and sales? Employee peer recognition is often more influential among your workers than achieving actual prizes or monetary rewards.  Developing ongoing peer recognition programs will keep your employees excited about their jobs and their enthusiasm [...]

By: John Matthews, founder and president of Gray Cat Enterprises Inc. The conversation usually starts like this: “So, do you know your customer?” “Of course, I know my customers, most by name.” “Great, let’s communicate to them that you have a sale this weekend.” “[cricket sounds]” Call me a pragmatist, but this is a typical [...]