Retail is the sale of products to the end or final consumer, rather than for wholesale use or resale. But bricks and mortar, online, or a combination of both?
No matter which format you use to sell your product, retail trade is certainly multi-faceted. To succeed, you need a desirable or necessary product, quality customer service, reliable stock levels, clever marketing, and perceptive forecasting – at a minimum!
Ready to open your retail store?
When you’re investing your time, energy, and savings into a new venture, you want a retail financial advisor who is going to act as your partner in business. Growth IQ are experts in the retail trade sector – both bricks and mortars and online stores. Progressive retail accounting, bookkeeping, taxation services and advisory are the vital financial services you require to prepare you for financial success – and we holistically manage them all.
Growth IQ will help you setup:
- Business and/or company registration
- Tax registration
- Necessary financing
- BAS, GST and PAYG
- Xero accounting software with your chosen integrated POS
- Stock and wage budgets
- Cashflow forecasting
- KPI’s and benchmarks
- Asset protection
- Overall financial legal compliance
One of our favourites is Xero. We utilise Xero software as ideal accounting for retailers that integrates easily into your retail software for small business.
Growth IQ’s Approach
Growth IQ offers industry specific accounting for retailers and advisory services to see your retail business thrive, including:
- Small business bookkeeping
- Accounting for retailers
- Retail financial advisory
- Retail taxation services
By integrating these services, Growth IQ becomes your one-stop shop, no matter your business goals. Whether you want to assess the viability of opening a second store, plan for a new product line, or move from bricks and mortar to retail, we can take you there.
Take Back Your Time
By properly setting up and integrating all of the above internal systems with our services, the efficiency of your business is in play before you open your proverbial doors. With an efficient virtual CFO team at your disposal, it’s up to you what you do with that extra time on your hands!
Don’t just take our word for it, check out what our clients have to say!
As a copywriter by trade with little to no overheads, when I purchased a small online retail business, Finn Boutique, I was unsure how to manage my new expenses and overheads and the best way to combine their management with my existing business, if at all. Not only did Josh explain to me in detail the best options, Growth IQ organised everything for me and reduced my time spent on financial admin to zero.
He created a business structure that integrates my varied income streams fluidly. I now have clear KPI’s for my Ecommerce platform and my copywriting that complement each other, and we meet monthly to discuss online strategy and conversion. Whenever I’m in doubt about what I’m doing, Josh’s enthusiasm and actionable advice puts me back on the right track!
Owner, Finn BouTIQUE