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3 Things Aftermarket Retail Stores Need to Stay Ahead of the Curve

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There's a lot of competition in the automotive aftermarket—retail stores have to compete with online retailers and specialty parts catalogs, and the seemingly endless selection that both provide. So what advantages do retail stores have that…

Grow Sales With New Products From the SEMA Show

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Welcome back to the Hedges & Company blog, today we cover how to grow your sales with new products. We're introducing a new term for some of our readers, the New Product Ratio (NPR). The specialty auto parts industry thrives on new products…
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Stages of Growth in a Company and 'Growing Pains'

As a business grows, it goes through major, distinct phases of growth. These phases have unique characteristics and challenges and require some strategic planning. Recognizing these characteristics (even better, preparing for them) will help…
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How A Price Increase/Decrease Affects Gross Profit vs. Unit Sales

(Note: if you just need to calculate gross margin or mark up, please scroll down.) If you want to increase gross margin with a price increase, you should know how gross profit is calculated and assuming a drop in unit sales, how many unit sales…