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Understanding the financial health of your retail business extends beyond just recognizing your profit. In this insightful episode, we're diving into the complexities of retail business finances and learning why being profitable doesn't always mean having a positive cash flow.
We’re reviewing the three critical financial statements in an indie retail business: the profit and loss statement, balance sheet, and cash flow statement. We’ll discover how each statement plays a vital role in evaluating your business's financial status and understand how they interconnect.
Listen in to connect the dots between profitability, financial health, and effective cash management so you can make informed decisions and propel your retail business forward.
For show notes, including links to anything I mentioned in this episode, visit www.savvyshopkeeper.com/episode235.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
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If you’ve ever faced a cash flow struggle, you know how much stress it can cause you. But before you address the issue, you need to identify the root cause. Are you truly dealing with insufficient income, financial mismanagement, or operational inefficiencies? Or are you experiencing seasonal cash flow crunches that are common in the retail world?
Listen in as I break down these four critical areas and provide insights into identifying what's draining your store's cash flow. Understanding your business's financial ebb and flow can seem daunting, but with awareness comes clarity. Let’s dismantle common myths about cash flow issues and explore strategies for overcoming them!
Plus, learn how normalizing cash flow crunches as a natural part of the retail cycle can help ease anxiety and promote smarter, more proactive financial management.
For show notes, including links to anything I mentioned in this episode, visit www.savvyshopkeeper.com/episode234.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
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As retail business owners, revenue is often top of mind. But revenue alone doesn’t give us the complete picture of your store's financial health! That’s why we’re uncovering the intricacies of cash flow in a new three-part series.
Listen in to learn the critical components of cash flow and how managing cash flow effectively protects your indie retail store from financial turmoil. We’ll cover how cash flow ensures liquidity, supports growth, and reveals hidden financial challenges.
Let’s pull back the curtain on the essential cash flow knowledge needed to make sound decisions and maintain a thriving, financially stable retail business! Plus, learn how you can participate in the Cash Flow Clarity challenge I’m hosting in Master Shopkeepers in 2025.
For show notes, including links to anything I mentioned in this episode, visit www.savvyshopkeeper.com/episode233.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
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Running a business is already challenging, but dealing with the symptoms of perimenopause while running a business has made the last two years incredibly difficult. That’s why I’m sharing the ugly truth about perimenopause as an entrepreneur and how it affects not just our personal lives, but our businesses, too.
In this episode, I’m opening up about my journey through this phase of life—experiencing symptoms like brain fog, fatigue, inflammation, and more—while continuing to manage and grow my business. I share the moments of realization that led me to understand I was in the throes of perimenopause, the steps I’ve taken since, and the impact it has had on my work.
Listen in as I discuss the importance of awareness, proactive health measures, and open communication about our experiences. This isn’t just about surviving perimenopause; it’s about thriving and driving a conversation around a topic that has been ignored for far too long.
For show notes, including links to the documentary and resources I mentioned in this episode, visit www.savvyshopkeeper.com/episode232.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
Mastermind Group: Master Shopkeepers -
Originally, I planned to record a quick episode to talk about the upcoming Retail Email Bootcamp and let you know that the calendars in the Savvy Shopkeeper planners start now. However, I first want to acknowledge the devastation caused by Hurricane Helene, particularly in states like North Carolina, Florida, and Georgia. The images and stories coming out of these areas are heartbreaking, and as a brand that deeply values supporting the small business community, I knew I had to act.
After receiving an email from Heart on Main Street, a non-profit that specializes in helping retailers in devastated communities, I decided to donate 50% of all revenue from bootcamp ticket and Savvy Shopkeeper planner sales this week to their Hurricane Helene donation drive. If you're interested in the Retail Email Bootcamp, which is happening October 7-9 with replay access for 60 days, now is a great time to grab your spot and support a good cause at the same time. You can also help by purchasing a planner, knowing that 50% of the revenue will go directly to helping other store owners rebuild. Together, we can make a difference.
For more information:
Retail Email Bootcamp: www.savvyshopkeeper.com/emailbootcamp Planners: www.savvyshopkeeper.com/planner Interview with Patrick Kaiser of Heart on Main Street: www.savvyshopkeeper.com/episode210 Donate directly to Heart on Main Street: https://givebutter.com/hurricane-helene-reliefThank you for your support! I'll share how much we, as a community, donate in a future episode.
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Ceri Otero didn’t dream of being a shopkeeper as a kid. But when she decided to open a specialty olive oil and vinegar shop in Carthage, Missouri, it felt like all the threads of her life were coming together.
From selling Avon in 8th grade to a stint as a corporate HR representative to merchandising for Hallmark, each of Ceri’s previous jobs had prepared her for running an independent retail store, even if she didn’t realize it then. Her mom said it best: “Of course, you would. That makes perfect sense.”
While outlining a novel during the early days of COVID, Ceri manifested her food-focused retail store. Her book centered on a bakery on a town square—the exact location of Ceri’s future store, Carthage Olive Oil. Finding that location was a series of magical steps that, combined with Ceri’s hard work, have created a successful, tourist-enticing olive oil shop.Listen in to hear how Ceri manifested her retail store, why she believes there’s a bit of magic in any successful business, and how Ceri’s courageous marketing strategy has helped the Carthage community attract more visitors.
For show notes, including links to connect with Ceri and get free Savvy Shopkeeper resources, visit www.savvyshopkeeper.com/episode231.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
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Customers love visiting indie retail stores and discovering new items, and many indie shopkeepers revel in curating fresh finds for their stores. The part that isn’t enjoyable? Adding new items to your inventory system—especially if your inventory entry process is manual.
Whether you're managing hundreds of new SKUs or reordering popular products, you don't have to feel overwhelmed. Listen in to discover practical tips that can streamline your inventory entry process and reclaim your time.
For show notes, visit www.savvyshopkeeper.com/episode230.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
Mastermind Group: Master Shopkeepers -
Jolene Forrester, owner of JoRetro in Havre de Grace, Maryland, has built a thriving legacy retail store with multiple streams of income. What started out in a small antique mall booth has grown into a 5000 square foot retail store with vintage treasures, niche retro-style products, a twice-annual Pyrex & Vintage Festival, and a thriving Airbnb apartment rental business.
With an extensive background in corporate interior design, Jolene’s knack for creative merchandising and unique vintage finds has helped her build JoRetro—along with a few key lessons from Master Shopkeepers.
Listen in to hear how Jolene went from interior designer to indie retail store owner, the key lesson in squares per sale foot that Jolene learned from Kathy inside Master Shopkeepers, and what Jolene envisions for her retail store in the near future.
For show notes, including links to Jolene’s social media and other resources mentioned in this episode, visit www.savvyshopkeeper.com/episode229.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
Mastermind Group: Master Shopkeepers -
If there’s one thing that nearly all indie retail store owners struggle with, it’s planning. And when we struggle with planning, using a planner is next to impossible! But our planner problems CAN be solved when we address the real culprit behind our planning struggles.
Listen in to discover the real culprit behind your planning struggles. Plus, you’ll learn how to build new habits when you combine one of my favorite business books with my favorite business tool—the Savvy Shopkeeper Planner!
Can’t wait to grab the new and improved Savvy Shopkeeper Planner? Visit savvyshopkeeper.com/planner to get yours at early bird pricing.
Go to savvyshopkeeper.com/episode228 for links to everything mentioned in this episode.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
Mastermind Group: Master Shopkeepers -
In today's bonus shortie episode I'm delving into the misconceptions surrounding business performance during turbulent times. I explore how the thoughts of business owners directly influence their feelings and, subsequently, their actions.
Election years can indeed be a bumpy ride for small business owners, but it doesn't have to spell disaster for your business. By shifting your mindset and staying focused on strategic actions, you can navigate the noise and come out stronger.
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Elisa Vietri always dreamed of opening a retail shop for her ever-growing collection of vintage goods. So when she and a friend drove by an empty storefront in Cleveland, Ohio’s Little Italy neighborhood in 2014, she jumped at the opportunity.
Now the proud owner of Moonstruck CLE, Elisa has ten years of experience selling vintage goods and connecting with other collectors. She’s built a profitable retail business for herself without taking on a penny of debt.
But that doesn’t mean she hasn’t had some ups and downs—Elisa learned how to be a shopkeeper on her own, was laid off from her previous career, and then found Master Shopkeepers at the perfect moment.
Listen in to hear the full story of Elisa’s journey as the owner of Moonstruck CLE, along with what stage of her shopkeeping journey Elisa is in, why she plans to stay in that stage, and how joining Master Shopkeepers changed her approach to retail entrepreneurship for the better.
For show notes, visit www.savvyshopkeeper.com/episode227.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
Mastermind Group: Master Shopkeepers -
As an independent retailer, finding the right trade shows to attend can make a significant difference in your buying strategy and overall business success. OffPrice Show in Las Vegas is a prominent event in the retail industry, but is it the right fit for your store?
Listen in to learn more about OffPrice Show, discover what types of retailers will benefit from it the most, and decide if it aligns with your retail goals and purchasing strategy.
For show notes, visit www.savvyshopkeeper.com/episode226.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
Mastermind Group: Master Shopkeepers -
Have you ever looked around your retail store and thought, “wow, I could really use some advice on how to make this better?”
That’s exactly what one retail store owner and Master Shopkeepers member did early last year. Luckily for Patty, a pseudonym gift shop owner from the Portland, OR area, I was giving away an in-store intensive.
Through a mix of Zoom calls and a day-long visit to her store, Patty and I were able to update three key areas of her growing business. Our work together not only streamlined Patty’s inventory system, but also gave her a healthy confidence boost about her buying decisions. She also hit a significant annual revenue goal as a result of our in-store intensive!
Listen in to hear about Patty’s in-store intensive experience, the exact pieces we worked on, and to learn how you can book your own.
For show notes, including links to anything mentioned in this episode, visit www.savvyshopkeeper.com/episode225.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
Mastermind Group: Master Shopkeepers -
Did you know that up to 99% of the decisions we make are subconscious? Since our decisions drive our behaviors, it’s crucial that we learn to make more of our decisions consciously rather than subconsciously!
In today’s episode, I’ve invited my coach, Neill Williams, to share the science behind entrepreneurial emotions. With a master’s in economics and mathematics and as a Master Certified Coach, Neill is uniquely positioned to explain behavior economics—aka, the science behind why we do what we do—and how we can learn to change our emotional response.
Tune in to learn the three key concepts that make up the “Trifecta of No,” how the trifecta influences our response to uncertainty and change, and how we can break our entrepreneurial emotions free to make better decisions in our retail businesses.
For show notes, including links to any resources shared in this episode, visit www.savvyshopkeeper.com/episode224.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
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As your indie retail business grows, leading a team becomes a crucial part of your store owner responsibilities. And while being a leader may not come naturally, being a better leader is thankfully a skill that you can cultivate.
In today’s episode, I’m sharing the five essential skills you can quickly learn to be a better leader. You’ll be known for your kindness, respect, and humility after implementing these tips!
For show notes, including links to anything mentioned in this episode, visit www.savvyshopkeeper.com/episode223.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
Mastermind Group: Master Shopkeepers -
Let’s face it: being an indie retail store owner isn’t easy. There are shipments to bust, products to merchandise, backstock to organize, floats to reconcile, and tasks to delegate.
Beyond the day-to-day operations, there are even more high-level tasks that eat at your time and brain power, like choosing what products to bring in and figuring out how to pay yourself.
Do you know what makes all of the above easier? Building a strong foundation for your store. A foundation of understandable data, easy-to-use systems, and streamlined processes will make your life simpler—and give you space to work smarter, profit more, and grow your retail business.
Listen in to learn six reasons why you need to build a strong foundation for your retail store, along with two ways I can help you get there. For show notes, visit www.savvyshopkeeper.com/episode222.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
Mastermind Group: Master Shopkeepers -
For indie retail store owners who run vendor or consignment-style stores, there’s an extra layer of work on top of running a store: managing vendor relationships.
Vendors at these stores normally rent a specific booth or section of the store to display their products. And while each vendor is in charge of managing their inventory, cleaning their area, and merchandising their products…
…the owner of the store sets the boundaries and guidelines that the vendor must follow.
Is it possible for retail store owners to set clear, fair, and consistent expectations with ALL of their vendors? Absolutely. Is it an easy task? Definitely not. Managing vendor relationships is no small feat.
Listen in to learn why the fine line between friend and colleague can make running a vendor or consignment-style store challenging, as well as my top tips for setting clear boundaries with your vendors.
For show notes, visit www.savvyshopkeeper.com/episode221.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
Mastermind Group: Master Shopkeepers -
Encouraging your customers to pay in cash is not only great for your business (buh-bye, credit card transaction fees!), but great for your community.
Accepting cash diversifies payment options, keeps money out of banks’ deep pockets, and gives people without bank accounts access to goods and services. Cash is a win for small businesses and customers alike!
While taking more cash payments might feel risky for your indie retail business, I promise that the benefits to you and your customers far outweigh the negatives.
Listen in to learn the facts about accepting cash, how you can encourage customers to pay in cash, and how to keep you and your employees safe when handling cash transactions. For show notes, including links to the resources I’ve mentioned in this episode, visit www.savvyshopkeeper.com/episode220.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
Mastermind Group: Master Shopkeepers -
Have you ever decided to shop small, confirmed store’s hours online, driven over to the store…only to find a “sorry, we’re closed” sign hanging on the door?
That frustration you’ve felt in that moment is NOT what you want to give to your customers in case of a temporary store closing! Communicating with your customers about a store closing, whether planned or unplanned, doesn’t take long—especially when you’ve got a system in place.
In today’s episode, I’m sharing a customizable Store Closings Communications Checklist so you can create a system for this critical task for your indie retail store. Listen in to learn the key places to update your store hours, how to create a simple system for these updates, and who to delegate this to in case of an emergency.
For show notes, including how to download your free copy of the Store Closings Communications Checklist, visit www.savvyshopkeeper.com/episode219.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
Mastermind Group: Master Shopkeepers -
With Q1 of 2024 behind us, it feels like a good time to share some impromptu Savvy Shopkeeper updates. There have been a lot of changes within my business and personal life, and I’m excited to share them with you!
Listen in to hear about leaving my retail store behind, finishing my coaching certification, an in-person event you’ll want to save the dates for, a potential paper version of the Savvy Shopkeeper planner, and more.
For show notes, visit www.savvyshopkeeper.com/episode218.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper
Instagram: @savvyshopkeeper
Mastermind Group: Master Shopkeepers - Daha fazla göster
