Author Archive

Marc Joseph

With more than 30 years in the retail and wholesale industry, Marc Joseph is the founder of DollarDays International, a premiere online wholesaler that helps small businesses compete against larger enterprises by offering more than 30,000 high-quality goods at closeout and wholesale prices close to those at which large chains purchase the same merchandise.

DollarDays has over 1.5 Million registered users and averages over 1,100 new customers a day registering with DollarDays. Joseph also is the author of The Secrets of Retailing or How to Beat Wal-Mart! (SilverBack Books). In The Secrets of Retailing, Joseph provides expert advice to independent retailers of all sizes on everything from the psychology of buying and the hiring of great employees, to working successfully with vendors and promoters as well as how to expand their business using the Internet. In addition to explaining all the nuts and bolts of setting up a successful retail business, The Secrets of Retailing also provides a step-by step prescription on how small businesses can compete against chain stores. Joseph’s has helped to build some of America’s most known retail stores including Federated Department Stores, Crown Books, and Bills, a chain of variety stores headquartered in Jackson, Miss. He also helped ignite the dollar store trend as the General Merchandise Manager in Everything’s A Dollar stores chain.

Joseph also started another innovative chain for EAD, The $5 & $10 Stores, locating the chain’s stores next to Everything’s A Dollar Stores to ensure traffic and offer price-conscious customers additional retail options. Most recently Joseph started a chain of hair salons in Arizona and built it up to 11 stores before selling them to devote full time to DollarDays. Mr. Joseph earned his Bachelor of Administration in Marketing with a Finance Minor from Miami University in Oxford, Ohio. He lives in Phoenix with his wife and four children.

Basics of Retail Math (Part 3)

basics-of-retail-math-part-3

To read Basics of Retail Math (Part 1), please click here. To read Basics of Retail Math (Part 2), please click here. How to Increase Your Margin Obviously, the question here becomes, “How do I increase my margin?” An additional question must be, “How do I increase my margin while still keeping my customers happy and therefore my sales rising?” Relax. There are several different tactics you can use to…

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Basics of Retail Math (Part 2)

basics-of-retail-math-part-3

To read Basics of Retail Math (Part 1), please click here. Inventory Turn Turnover of inventory, or turn, is the calculation of how many times you sell and replenish the merchandise in your store over the course of a year. To figure out your turn, divide your annual sales by your average inventory (at retail). For instance, if your sales are $400,000 for the year and your average retail is…

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Basics of Retail Math (Part 1)

basics-of-retail-math-part-3

Retailing is all about change, because consumers change and so do their tastes. If you don’t change, you don’t grow. —MARVIN TRAUB, former CEO of Bloomingdale’s Financial freedom. Setting your own schedule. Being your own boss. Take your pick. No matter what your collateral reasons for opening a retail store, the numbers are obviously what drive your decision about whether or not to invest the large and intense amount of…

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Finance Your Business: You Can Do It

finance-your-business-you-can-do-it

Starting your own business may be a dream come true. Paying for this dream may be an entirely different story. How you structure the finances for your business will have long term effects on your entire life. Unless you are wealthy enough to finance your new store with no financial strain, raising the money you’ll need may prove to be one of the toughest challenges you’ll ever face. A word…

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The Art of the Buy: Dealing with Vendors

the-art-of-the-buy

Are you are launching a retail business? One key part of your business puts you on the other side of the counter, as a buyer of the merchandise you will be selling to your customers. There is a saying in retail that ‘Money is made in the buy’ – the decisions you make as a buyer will determine not just how much you pay for your stock, but the items…

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