How we helped Woking Golf Club

Carl opted to take our Business Health Review where our team spend a full day on site with Carl and his team using established tools and a framework to perform a thorough business health check.

Carl says; “The key learning for me was just how important stock turn is as a figure. I did know this before but it never does any harm to keep having the message rammed home.

“We have also seen first hand the financial consequences we might face by sitting on stock and have looked at options where we can make the stock earn for us.

“It was interesting to look at the three ways to identify whether a product will work for you (using percentage, pounds and ROI) and how each offers something slightly different. I now realize the value in return on investment.

“For example, we had 12 pairs of shoes in good sizes and colours from an old line. I had assumed that because I had paid for it a year ago it didn’t owe me anything. My approach was to just sit on them and wait for the right customers to come in.

“How wrong was I?

“We worked out that if I put on a flash sale and could make £1000 by selling them for trade price then I would have that to reinvest it in something with a higher stock turn.

“We have always been fairly cautious about our stock levels and never really had a big issue with being overstocked - sometimes we can go three years without needing a sale. But this exercise made me realize that having a sale isn’t just about shifting unwanted stock, it’s about creating an opportunity to turn that stock back into an investment.

“Having a sale also connects me more with our members and makes me realize that whilst 80% are happy to pay full price but then there is always 20% that like to grab a bargain. This means we can cater for all our customers. So its win, win.

“For me, this extra analysis is where the real power of XPOS is. Its not just about recording data its about using it to plan your sales so you have a better idea of how you can shift your stock.”