Water Sports Retailer, March 2012

Page 9

go where they know your name. This is the most overlooked part of any business I go into these days. It is so simple but so few really do care. Inventory management is a real skill that has had most of us at Tommy’s scratching our heads. Many times a good year is followed by a slow year resulting in carry over. Carry over takes months or even a season to thin out and kills margins. Manufactures expect growth every year and are unrealistic about what they expect. We provide a year long plan each fall to the manufactures and turn the mirror around to ask them how they are going to support this year long plan with their brand. They have to give us the tools early in the year and if they fail to provide us with these tools, we have plenty of leverage later in the season to negotiate. With both a brick-and-mortar shop and an online store, how do you see the internet impacting how you plan and run your store from day to day? Everything we did in the past is obsolete. You must have an engaging internet site and you must have dedicated personnel to work it and you have to be realistic about your goals. You can spend yourself into bankruptcy fast on this or you can be left in the dirt by the guys with deep pockets. Striking a balance is critical. The manufactures

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