First it was PCI, now retailers have to prepare for the widespread launch of Near Field Communications, which is expected to become a widely used system for making payments by smartphone in the U.S. By Howard Riell, Associate Editor. The convenience store industry is increasingly turnings its gaze outdoors to the forecourt, not only for [...]
By John Matthews, founder and president of Gray Cat Enterprises Inc. One often-overlooked strategy to generate ancillary foodservice revenues is developing a program to tap group sales. Generating revenue through large group order sales is an excellent way to exponentially grow your business. The sale from the initial large group order is the first source [...]
By John Matthews, founder and president of Gray Cat Enterprises Inc. With any size retailer, getting customer trial at your store is the easy part. If the store owner throws out a compelling offer – perhaps a free deal – customers will come to your store to “check you out.” This is fairly straight forward, [...]
By John Matthews, founder and president of Gray Cat Enterprises Inc. When it comes to managing a profitable operation, knowing the key financial drivers of the store is paramount. Developing a “Four-Wall Analysis” is a helpful tool to better understanding both revenue projections as well as variable and fixed expenses. Few operators take the time [...]
By John Matthews, founder and president of Gray Cat Enterprises Inc. You may think about your business 24/7, but chances are your customers do not. Hard to believe, right? I am a big believer that the successful businessperson is always considering how they can “connect the dots” for their customers more easily so that their [...]
By John Matthews, founder and president of Gray Cat Enterprises Inc. Managing a retail store is tough work. Between operations, merchandising, marketing and facility upkeep, retail business owners have their hands full. Managing the details of retail is the difference between making it or not. All too often, retail owners become lax in their operation [...]
John Matthews, founder and president of Gray Cat Enterprises Inc. “It’s the most wonderful time of the year . . .” Ah yes, the annual business planning cycle is upon us. The time of the year to huddle all of your business colleagues in a room to hash out the key initiatives for the upcoming [...]
By John Matthews, founder and president of Gray Cat Enterprises Inc. Establishing a Franchise Advisory Council (FAC) as a formal communications system to ensure franchisees input with regard to store marketing & operations is a natural stepping-stone for a growing franchise operation. FAC representatives are an indispensable part of the communication system in that they [...]
By: John Matthews, founder and president of Gray Cat Enterprises Inc. Public relations can often be overlooked as a powerful tool in communicating your store and its brand throughout the community. Whether you are creating news, sponsoring an event or contributing to a charitable organization, a prudent public relations strategy can create the following benefits [...]
By John Matthews, founder and president of Gray Cat Enterprises Inc. Growing up in Michigan, I was a part of a very prestigious high school baseball team– the Plymouth Canton Chiefs. Year in and year out, our team was highly ranked and continually vied for the state championship. Playing on this team was a sign [...]
By John Matthews, founder and president of Gray Cat Enterprises Inc. Whether this is your first industry convention or you are a seasoned pro, I am a firm believer that establishing a well-thought out plan in advance of attending an industry convention is key for maximizing results. Many conventions can be daunting with thousands of [...]
By John Matthews, founder and president of Gray Cat Enterprises Inc., www.graycatenterprises.com. In today’s tough economy, the fight for share-of-customer by retail stores to effectively capture sales has never been fiercer. Retail stores that sit back and wait for the economy to improve will have a very long road to recovery. Aggressive retailers that go [...]
Chicken’s economical price and inherent flexibility gives convenience store retailers a myriad of opportunities for growing their foodservice business without sacrificing quality and value. However, deciding whether your stores’ best interests are better served by a branded or proprietary chicken program requires an understanding of the benefits and drawbacks each model offers, said consultant John [...]
As John Matthews sees it, a store languishing in mediocrity is a store that has become wallpaper in the halls of retail. “Generally, when starting a business, it’s easy to get people excited when its new and fresh,” said Matthews, founder of Chicago-based retail marketing firm Gray Cat Enterprises. “After a few years, though, [...]