This series includes 24 Key Numbers. If you work on getting all of them in the ranges mentioned, your shop should be solidly profitable.
Key Numbers 101 Series – Key # 24 – Sales vs. Same Month Last Year
For this key number, we want to know how our sales for the past month compared to the same month last year by expressing it as a positive or negative percentage. Total sales last month were $50,000. Total sales for the same month last year were $47,000.
$50,000 ÷ $47,000 = 1.06
Our sales this year were 6% greater than the same month last year.
So, our key number is 6%
When looking at this number for a typical established independent shop which is solidly profitable, this number will normally run between 5% and 15%. For young shops, this number will often be much larger initially.
There is a fill in the blank form where you can automatically calculate this number for your shop in our Business Calculators area available to Premium Members.
This is a great learning and working tool for anyone in your shop who should know what the key numbers need to be.
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