Weekly Edge

Here’s how to determine average dollar sale in your business

Heather Frame - Wednesday, December 11, 2013

The average dollar sale is a very powerful number is every business.  So you’ll want to make sure you’ve got a good handle on this for your business.

Some customers might spend $500 while others $23.50.  The average dollar sale is just that: the average dollar spent from everyone who does business with you.  All you need to do is divide what’s in the till (or what you’ve billed for) with the number of transactions you’ve made. 

Just like McDonald’s employees always ask ‘Would you like fries with that?’ you need to look for ways of increasing your average dollar sale.  Even though most people say no to fries, think of the millions of extra dollars they make a day from those that say yes.  Now think of how a similar strategy could unlock a gold mine for you.

The key is remembering that it only takes slight improvements to make a drastic difference in your profitability.  These customers are already doing business with you, and any little extra you can add on is all icing on the cake.

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