Industry veteran Green writes book on retailing
By Gerri Hunt -- Furniture Today, February 18, 2008
St. Petersburg, Fla. — When Jim Green took an entry-level job at retailer Kane's Furniture in 1975, he had to learn about the industry on his own.
Sure, his boss taught him the basics of his job, some industry details, and specifics about St. Petersburg-based Kane's. And his boss told him stories about how the industry had changed. But most of Green's education came from hands-on experience and reading trade publications.
"There were no books to read that would explain the furniture business," he said. "There still aren't many. There seemed to be little to read other than the trade magazines that might reveal the secrets or even the language of the furniture business."
His thirst for knowledge eventually led him to spend two years writing a three-volume book, "Furniture Retailing 101." He'll unveil it at the High Point Market in April with book signings in various manufacturers' showrooms.
Green's journey from sales associate to author was a long one. At Kane's, he rose through the ranks to vice president, merchandise manager. He was responsible for sales and marketing and was the number two executive, reporting to the company's founder. Kane's grew and landed among the top 30 on Furniture/Today's Top 100 ranking.
In 1982, Green moved to department store chain Maas Bros./Jordan Marsh, becoming merchandise manager for furniture and bedding for Florida. In 1989, he opened his own store in Clearwater, Fla., but closed it two years later due to the recession.
Leaving retail, he started representing furniture manufacturers until retiring to earn his MBA in management in 2001, a lifelong dream.
But his retail past was never far from his mind.
"I started thinking, reminiscing about how it took so long to get a foundation on the industry," he said. "There was just no educational learning available."
While he acknowledges that first-hand experience makes the understanding of the industry really stick, he has tried to provide a foundation to begin a retail education.
"I painted the topic in broad strokes, covering pretty much what goes in a furniture retail business from the perspective of a new person in the industry," said Green. "It is elementary by design. Someone in the business for 20 years will know most of it, but sometimes we just get so smart that we forget some of the fundamentals."
Green also said he realizes that no two retail businesses are run exactly the same.
"Every one is different, with its own nuances, its own way of doing things, so I wrote about common of ways of doing things," he said. "I have attempted simply to report some of the strategies and tactics that are or have been commonly used in the retail furniture industry."
Each volume is written in lay terms and can be read separately from the others:
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"The Business" introduces the industry and deals with the workings of a typical furniture retailer. It outlines necessary business functions and describes common approaches to the way they're organized. This volume pays particular attention to the "front room" functions of merchandising, marketing and sales.
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"The Merchandise" explores what furniture retailers and interior design firms sell. It describes the manufacturing processes, quality components, merchandising and marketing of categories and sub-categories of living room, bedroom, dining room, occasional furniture and bedding.
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"The Strategic Concepts" looks at the financial elements of retailing and attempts to provide an understanding of the main financial statements — the balance sheet and income statement — and how to read them. It presents the primary statistical measures used in the industry, both in productivity and finance. And it explains the notions of change, competition and success in the industry.
Each volume also contains a section called "Individual Company Research Questions," which the reader can use as a basis to find out more about their company.
While "Furniture Retailing 101" was written with an entry-level retail employee in mind, Green said it will benefit many others. He said it contains reminders for seasoned retailers, offers insight to manufacturers and analysts on how retailers think, and lets reps know how they can better serve retailers. It may also be a useful tool for journalists unfamiliar with the industry.
The book is published by Furniture Industry Press. For more information, contact Green at (727) 347-1201 or jimbojoy@aol.com.
