Charlie discusses the concept of store classifications at Broad River Retail.
He explains that in 2015 they classified the stores based on revenue, with bronze representing under $6 million a year, silver representing $6 to $9 million a year, gold representing $9 to $12 million a year, and platinum representing stores with revenue over $12 million. This has since changed, and currently we have copper, bronze, silver, gold, platinum, titanium, diamond, and black diamond, allowing for different staffing levels and store concepts.
Charlie explains that the bonus levels and career paths for employees are different based on the store classification, and these stores can be promoted or demoted based on their performance. Charlie emphasizes the importance of a math-based approach to store classifications and the opportunities for growth within the company.
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