San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-08-01
Speaker Tells Merchants
One Out Of Every Seven
: Fails Ultimately.
ARE YOUPROCRESSING?
Not More Than One in Ten
! Knows Financial Side,
He Declares.

~, one business out OF every seven IN
+ the United States that lasts more
than seven years. Failure TO. Know
Your Own Business is the cause of
this. said Fred T. Mann, NATIONAL
" known retailer, who is in San An
s tonic TO make a series Of educational
talks to visiting merchants during
trade week. 1t is estimated, he said,
that only one outSof ten merchants
. in the United States really knows
" whether or not ne. is making or los
ing money. This is the first of the
talks made in San Antonio by Mr..
Mann. 1t was exceedingly encour-
aging to merchants and it is safe to
say that everyone of the some $50
or 200 people present received good
lesson in merchandising.
Mr.. Mann began his talk by tell
ing of the success of his own depart
ment store in Deyil's Lake, y. D..
which is said to have done $500, 900
worth Of business last year. DEVILS
Lake is a town of about 500 popu-
lation. He told how he began the
grocery business by driving 4 deliv-
cry wagon for 81 dollar n day sew
eral years ago. AT that time, he said.
he always had an inclination towards
advertising. He said it was an old
trick of his TO drive his wagon all
over town when he had it overloaded
with groceries, showing the comAun-
ity what his store was doing.
Started On Credit.
- One day, he said. representative
of n large wholesale house in st.
Paul came TO him and said that he I'M
derstood he intended entering the
i grocery business. He replied that that
was news to him but when the repre-
sentative. explained that his firm
would give, him $1,000 worth of groc-
fries without cent down he said he
decided TO try it. He rented a small
pre- in the town and put in the
oek. He said he kept in mind at
alAtlmes ito get the money for what
8 he sold.". Then he told the secret
of his success.
One day, he said, local newspa-
perman came TO his store and sold him
on newspaper advertising. Formerly.
his old employer had been running
small ads which had been stuck in
one corner of the paper. This was
not the method he used. He began
his advertising campaign with a COM
--paratively large ad right in the mid
Gle of the paper.
Kept Store Clean.
In addition to the newspaper adj
vertising. he said, his store was made
thoroughly clean. His windows were
washed. his floor was scrubbed daily
and his stock was arranged neatly.
making his store an inviting place
for customers. His advertising in the
papers was persistent. he said. and
also systematic. During that first
year, he said, his little store did
more than $4,000 worth of business
Since that time his store has bnon
enlarged greatly and today it has six
separate departments.
The newspaper ADVERTISING vas tbe
greatest means by which he was aided
IN selling the thousands of dollars
worth OF merchandise during that
irst year. Second to this. he. said.
put no less important, was Che fact
mat he had kept his store clean. lie
sald that the best advice he could
give to the merchants present was to
Keep their stores clean at all times.
10 not let your show eases and
windows become fly-specked," said
ar. Mann, land above all clean tie
pace out once in n while for there
Is nothing That customer hates TO
see worse than a dirty store. Ar
range your stock neatly. dust the can
ned goods off, and pick up that ole,
pickle or moiasses barrel on the floor
Wnere the lilies are continually gath.
ering.
Plenty OF Insurance.
"One point that / wish 20 IMPRESS
on you merchants is the importance o,
carrying plenty of insurance. Then
KNOW your policy thoroughly. Tho
ignorance of insurance today is ore Of
me greatest questions confronting tho
merchandising world. 1t is a mistaken
luea That you can stand aside end
Watch your store and stock burn 70
me ground without making any cffoi
Whatever 10 salvage n dollars worth
OF goods. But if YOU do salvage al
you can, an adjustment can be MADE
easily. Hundreds of merchants Le
HeVe that they can collect their in
surance ior you owe 1t to your iobbel
and manufacturer who are giv,ny 'o,
liberal credit. '0U
From a recent survey made IL
North Dakota / found that ~ no,
cent of the merchants there did no.
know anything about Insurance Il
they had it they did not have enoraJ
and II they did have enough tbev II,
not understand ii. Wv
Another thing to remember IL vo,
afe endeavoring TO make succes
OF your business is to do sometb;n.
for the ether fellow. I believe tba
ms IS one of the greatest enjoyment
Too Much Guess Work
Inc subject of this speech wa
know Your Own Business" In tell
ing the Importance of knowing Won
own business, Mr.. Mann said irba
statistics show that only one ont q
every seven stores in the conntr
stayed in business longer than seye
Years. They came and go. he sal,
Tor the simple reason that fhe owr
srs DO not know whether or not the
ere losing or making money. The
are employing the guess work
method of doing business. II
neeessary, be said. that all merchant
snow how ta mark their merchandise,
1hey must know when and how the
can mark their ~ups- and ~downs
TO bessuccessful.
Mr.. Mann will sneak WelDesda
Nisht az the Gunter to the Ioca. an