Robust ThemeDec 09, 2019 2020-04-08 7:40
Best KPI's to Track as a Game Store Owner - Video
Key Performance Indicators (KPI’s) are what help game store owners track various aspects of their business. From things like identifying trends that are occurring, to helping find and solve issues fast and efficiently, KPI’s are what can really help your business be as successful as possible. Every store will have different KPI’s that are important to keep track of depending on things like the size of the store, their inventory, and a variety of other characteristics that distinguish stores from each other. However, there are a couple of KPI’s that every store owner should be keeping track of.
The first KPI all store owners should be tracking, and probably the most obvious, is your gross profit and expense. This allows owners to have a better understanding of all the money you have coming into your store, as well as going out, allowing you to see the trends of the industry and better allocate where your money is going.
Tracking your unique customers is another KPI that all owners should be watching. This helps you see if your customer base is growing, or just staying stagnant. When you can see this, it helps you adjust your strategies to get more customers into your store, or if you are seeing success, to keep doing what you are doing. The more customers you have in your store, the better your profit margin will be.
The final KPI to be tracking is how many cards your store is buying over the counter. Reselling singles has one of the highest margins in the game store industry. Tracking this KPI will allow owners to see if they need to start buying more singles in their store to be able to see the highest profit margin as possible.