Type of business: Carpet Retailer
Discount Carpet Retailer has revenues of $1.8m but is making a loss, is on stop credit with suppliers and the owner has no salary, but wants to buy a home, but the Bank won’t finance him.
How we Fixed It
We benchmarked the margins of competitors and discovered the business margins were 50% of the industry norm. We also addressed in-store promotion and pricing.
Margins improved from 16% to 26% in three months, and our relieved client is now making $180k a year, and has purchased a home!