Do your homework

This very helpful worksheet shows the differences between using margin and markup when pricing front-end items. It's easy to get them confused, which is why we created some simple examples to show you just how big of a difference this can mean for your profits. If you're too busy to take 5 minutes to look over this resource, at least remember this: always use a margin over markup.

Cost of Discounting

Still trying to wrap your head around using markup and margin? This additional worksheet shows the impact of discounts on your profits depending on which percentage you use. Put your knowledge to the test by calculating how much you made selling Halloween candy last month. Also, let this serve as your warning before discounting Christmas merchandise.

$50 Field Trip

Walk around your store, taking a brand name product from each major category. Keep collecting until you have spent $50, or close to it. Note the items you have and find the same exact items at your competition (you can also compare prices online). Do you have money left over at your competition? You might find you are beating your competition on some products and are overpriced on others. Maybe you are more expensive across the board. You cannot know unless you test it.

Notable November dates

There's a lot going on in November. From the end of Daylight Savings Time, Election Day, and Veteran's Day in the first half of the month to Thanksgiving, Black Friday, Small Business Saturday and Giving Tuesday in the second half, there's no shortage of things to do around your front-end. Be sure to turn your clocks back including your digitals signs. Find a few ways to thank your veterans and other customers for trusting you with their health and business. And start the holiday merchandising by creating themed end caps, adding bows or holiday tags to potential gift items, and documenting what you do so you remember for next year!

Send us your pictures, questions and tips

We want to feature YOU in 2024! What's been successful for your front-end? On the flip side, what hasn't worked so well? We want to help NCPA members just like you learn how to optimize their front-end business and avoid making mistakes others have already made. Got any good photos of an end cap or floor display you created? Or maybe you have a tip you've learned along the way that changed the way you do business? Send them to frontend@ncpa.org so we can feature you in an upcoming edition of Profit Makers and on the NCPA Front-end website. Have more questions than answers? Send us those too. We'll try to include a Q&A segment in every issue come the new year.

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