271. Back-of-the-Napkin Math: Simplifying Profit Planning for Retailers

 With host retail coach Wendy Batten

 

https://wendybatten.com/podcast-intro/

 

In This Episode:

 

Let’s simplify the numbers you need to know and why in your retail business. Don’t be that retailer that is overwhelmed by numbers in retail—or worse, avoiding them altogether.

In this episode of the Creative Shop Talk Podcast, I’m sharing the surprisingly simple method I use to help retailers finally understand their sales goals, profit margins, and growth potential. Say goodbye to spreadsheet stress and hello to clarity with my Profit Planning Masterclass and “back-of-the-napkin” profits calculator.

It’s the calculator you have been waiting for and my clients LOVE. 

Whether you're just getting started or years into running your retail business, this is the financial pep talk and practical tool you didn’t know you needed.

What You’ll Learn about Profit Planning:

• Why profit is essential (and not a dirty word!)

• What your “keep the lights on” number is and why you need to know it

• How to calculate your real sales goal using 3 simple numbers: foot traffic, conversion rate, and average order value

• The link between confident planning and business peace-of-mind

Your Next Steps:

1. Grab the Profit Planning Masterclass!
   Visit wendybatten.com/profit to access the $47 on-demand workshop and get the simple sales calculator that helps you set clear profit goals.

2. Calculate Your “Keep the Lights On” Number
   Identify your essential operating expenses—like rent, payroll, inventory—and plug them into the calculator to find out your real sales goal.

3. Gather 3 key data points from your POS system: Average Order Value (AOV), Foot Traffic, and Conversion Rate.

4. Set a Weekly or Monthly Sales Goal
   Use the calculator to determine exactly how much revenue you need—and how many customers you need to serve to reach it.

5. Talk to Your Team
   Share your new goals and engage your team in improving sales through better customer service and upselling techniques.

6. Join the Retailer’s Inner Circle
   Get ongoing support, coaching, and access to my full library of trainings and tools.

Related podcasts we think you’ll like: 

 

Episode 31: 7 Strategies to Attract Foot Traffic to Your Brick and Mortar

Episode 103: Increase Sales With Your Silent Salesperson: Signage

Episodes 163-166: Simple Sales Strategy Series

About your host, Wendy Batten

In case we haven’t met yet, I’m Wendy, a small business coach and founder of the Retailer’s Inner Circle, where I help other independent shop owners learn how to gain the right business skillsets to see more profits, paychecks, and joy as they navigate running their retail business. 

Through online classes, business coaching programs, speaking, and a top-ranked podcast, I’ve helped hundreds of retailers around the globe reclaim their dream and see the success they want from their beautiful shops. My signature private coaching community, The Retailer’s Inner Circle, has helped retailers around the world build their retail business skill sets and confidence. 

I am proud to have been featured in several major publications, including my own business column in What Women Create magazine. I have been privileged to be a guest on top-ranked podcasts and sought-after as a gues