Oil Prophets

Fall 2014

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13 Oil Prophets The P&CMA PAC Patrons' Club, with an initial goal of 25 association members statewide, represents those members who have made the highest commitment to the association's political activities by contributing to the P&CMA PAC; PMAA's SBC PAC and Marketer Defense Fund; and NACS PAC. Patrons' Club members receive benefits and recognition throughout the year in recognition of their continued commitment to the association's governmental affairs efforts. Members of the P&CMA Patrons' Club: (as of September 30, 2014) David Collins D C Oil Company, Inc. James L. Eidson Eidson Petroleum, Inc. Russell S. Hager Hager Oil Company, Inc. Jim Hays Hays and Son Oil Company, Inc. Wayne A. Hollar The Hollar Company, Inc. Tim Shirley Home Oil Company, Inc. Jonathan Tang Ira Philips, Inc. Jim McGuire McGuire Oil Company, Inc. Richard M. Mayers Midstates Petroleum Company R. Shayne Lord R. S. Lord, LLC Jim Parr Parr's, Inc. Guy J. Spencer, III The Spencer Companies, Inc. PAC Patrons' For information on becoming a PAC Patron, please contact Bart Fletcher at the association office. though, the companies that can generate the best GPMs in foodservice offer a great program. Trying to grab higher GPMs on a weak foodservice offering is foolish. If you feel you do have a solid foodservice program, then don't give it away -- get your margin. After all, you have to get margin somewhere and foodservice is the best place to get it. Buy right: • Sit down with your suppliers and make sure you're buying right: product, cups, lids, straws, napkins -- everything. This is step No. 1 to ensuring higher GPMs. Expense analysis: • Without looking at your P&L, I'm confident there's fat that can be trimmed. Review on a line-by-line basis every operating cost you're incurring. Each expense should be justified. The first place to look is your operating supplies. Buying in bulk to obtain a quantity discount is fine, provided of course these supplies aren't sitting in inventory for months on end. Change can be friend or foe; you decide. The market isn't going to hand you anything. You're going to have to roll up your sleeves, make the required changes, maintain a laser-like focus on the end game and excel at execution. Do that and you'll be just fine. About Terry McKenna Terry McKenna is principal and co-founder of Convenience Store Coaches & Employee Performance Strategies Inc., where he helps convenience retailers achieve greater financial results by optimizing their workforce. McKenna can be reached at (910) 458-5227 or terrym@ cstorecoaches.com. He also maintains a blog at www.terrymckenna.typepad. com. See more at: http://www.csnews.com/ node/67276#sthash.fPCtne4X.dpuf

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