The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1918-07-18


ed by increase in expense. The best we
can hope. to do in this case is to lower
the expense. We do not care how much
1t costs US to do business if we can
make enough to pay the cost and have
something left over when all expenses
are paid. Many times competition has
been the death of trade instead of the
life of trade. There should be a care
full analysis of every item of expense.
A merchant should charge up a salary
for himself in his expense account.
knew man who had done $47 900 worth
of business certain year, but had
not charged his expense account with
a salary for himself. At the end Of
the year when he counted up the years
work he had just $40 left. All his net
profits had been absorbed
Many retailers are not honest nor
fair with themselves and don t put
down all their expenses. Expense is
like the poor it is one of the things
we always have with us. We should
have an equitable division of expenses
rent, light, heat, taxes, insurance, and
salary for the boss as we'll as for the
clerk. And every item of expense
should be cataloged 1t is more i'm
! bortant to know where you are going
than to know where you are. You
ought to have an expense list every
month. Also you want the expense list
of the month before and compare them
with the same month of the year be-
fore.
There is no standard of compari-
son but what comes out of your own
business. No one else outside can tell
you, Their business may be based
upon entirely different conditions. A
merchant should make a percentage on
every article. If one article is sold
at a close margin in order to be
puller, some other article should have
a more liberal margin to balance up.
The retailer should also have per-
| centage for mark downs and a mark
down record should be kept, not so
much to know how much, but why?
The retailer should also keep close
track of replacements I came across
one merchant who was selling an arti-
Gle at $1.20 because it only cost him
ST. but which it would cost him $1.35
to replace. He thought he was max
ing 20 percent profit because the ar
ticle only cost him 81. Bue he entire
ly lost sight of the fact that he would
have to put up Is cents more than he
got for the article to replace it in his
stock. Where was that Is cents COM
ing from?
Cataclysmic conditions have follow
ed every war we have ever had and
they will follow this one. The wise
merchant is the one who is getting
ready to take care of his business af-
ter the war. Increase of stock has had
its effect on business. Buying more
stock than you need is the bane of the
retail business. Avoid making mental
bets. This is the kind that is going
to lead us astray in our merchandising.
" More people fail because of lax
credits than from any other cause. We
men who would not trust a man with a
plugged quarter will often let a man
have So worth of good until Saturday
night. The man does not say which
Saturday night and most of them never
come. Lack of promptness in paying
is often due to lack Of promptness in
sending statement and asking for
payment. Some merchants are not
treating credits as a business PROPOSE
ton. They are competing with the
banks, lending their goods to every
man in the community. Sometime this
man will come down to his store and
find that the sheriff has beat him to it.
Wartime has always affected all lines
of business. Government control will
affect them more. The government is
taxing those things we have been try
ing to force. We must try to adjust
our business to conform to these
ideas.
The speaker then explained the work
ing of the business institute which IN
der the auspices Of the New Jersey
State Chamber of Commerce he con-
ducts in many states of the Union. He
stated that it was an effort to elimin-
ate trade abuses that have crept into
most businesses. "There has never
been a privilege extended to the pub
lie, " said he, that it has not abused.
Now is the time to cut out this canker
and to eliminate these abuses. Some
times we wait too long for the other
fellow to do these things. A town is
just what its retail merchants are col
lectively."
At the close of Mr.. Fishes address
Secretary Maddox announced that
the luncheon next Tuesday and the fol
lowing Tuesdays would be at the fixed
hour of noon instead of from 1880 to
Ills.