Franchise Business Systems, Inc.
NEWS RELEASE

 

Franchisor Services
Accounting Systems
Accounting Services
Back Office Support
Business Consulting
Educational Seminars
Financial Management
Outsourcing
Payroll Services
Rent A Comptroller
Royalty Collection
Royalty Verification
Sales Tracking
Tax Services

Franchisee Services
Accounting
Bookkeeping
Business Consulting
Business Planning
Business Valuation
Incorporation
Payroll Services
Sales Tracking
Software Support
Tax Services

Web Based Services
Accounting
Contact Management
Communications
Document Storage
Intranet Systems
LIVE! Media
Payment Processing
Royalty Collection
Royalty Reporting
Secure Hosting
Site Management

 

          

     
     A Checklist to Keep
     Lost Sales in Check

How many times have you, or your salespeople, responded to a customer request by saying, "We don't carry that item?" or, "I'm sorry, but that's not part of our service package?"

The number is critical, and if you don't know it, then you're losing profit potential. Sure, you might

"I was long brought up to think that it was nothing short of a crime to miss a sale."

— James Cash Penney,
founder of J.C. Penney stores

have stocked an extra item or two in the past in response to customer demand, but you need to get the practice down to a science.

To get started:  Ask your sales associates to log every customer request and to question customers further to get at the heart of what they need.

Then, calculate how much you could sell if you had those items in stock. Meeting customer demand might involve spending some money on equipment or personnel to expand your product line, but remember, if you don't take those steps you might be sending your customers to the competition.

Use this checklist to track lost sales. Review the information every month and you'll soon start to get a better grip on your customers' needs and build a stronger bottom line.

LOST SALES REPORT

Employee making report_________________ Department__________________

Date of Request

Item Requested

Estimated Potential Purchase

Reason Item Was Unavailable

Potential Sales Loss ($)

Estimated Gross Profit Loss ($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2319 North Andrews Ave ■ Fort Lauderdale, FL 33311
(800) 382-1040 ■ Fax (866) 759-2153
www.franchiseaccounting.com