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February Opens Strong

January was somewhat of a rollercoaster month for independent grocers with two good weeks of sales bookended by poor ones, with an especially bad end to the month.

February, on the other hand, has gotten off to a hot start. Independent retailers are reporting that sales were up 4.05 percent compared to the same period in 2015. Customer counts were up 6.52 percent. The timing of winter storms and differing weeks in which the Super Bowl took place is likely contributing to the up and down nature of the past few weeks of sales.

Tomorrow the Bureau of Labor Statistics releases its January Consumer Price Index report. Food at home inflation has been very slow for the past year, even starting to deflate at the end of 2015.

Same Store Sales
% Change from last year

Same Store Sales – Previous Months

Visit FMS at the 2016 NGA Show in Las Vegas

FMS is excited to once again be a part of the NGA Show in Las Vegas. Attendees should stop by booth 601 to see new ways FMS can help your business succeed.

Also be sure to visit booth 704 to hear about FMS Labor $aver, our fully integrated time and attendance system.

When: February 28 – March 2, 2016.
Where: Las Vegas, NV, Mirage Hotel and Casino

FMS will be hosting the opening night reception after the keynote session on Sunday, Ferbuary 28. After arriving in Vegas, stop in to see other attendees, grab a drink and hors d’oeuvres, and relax.

Click here to learn more

BGBC Partners Tax Update: Buy-Sell Agreements

Whether you operate your store as a sole proprietorship or you have co-owners, succession planning should be an integral part of your store’s overall business strategy. One key tool in implementing a succession plan is the use of Buy-Sell Agreements.

A Buy-Sell Agreement is a strategic plan which sets out the steps that will occur in the event you or a co-owner die, are incapacitated, retire, quit or are involuntarily forced to exit the business.

For example, if you operate as a sole proprietor and in the event of your incapacitation would like a key employee to have the option of buying your store, you can draft a Buy-Sell Agreement that does just that.

Or assume a co-owner dies and you would rather not have their spouse as an owner. A Buy-Sell agreement can be structured to address that scenario as well.