Behind the Scenes: How the MPorium Finance Team Keeps Business on Track

At Mporium, the Finance Team plays a critical role in ensuring each semester is both profitable and efficiently managed. At the start of every term, the team sets clear sales goals and develops an open-to-buy budget for the Buying Team, using insights from previous sales data and expense reports.

In addition to this, they create tailored budgets for each department—including Visual Merchandising, Marketing, E-Commerce, Events, and Store Operations/HR—ensuring all teams have the financial support needed to operate effectively. Throughout the semester, the Finance Team actively monitors expenditures, tracks weekly sales, and analyzes performance metrics to ensure the business stays on course.

They also manage monthly tax filings and maintain accurate retail cost data within the inventory management system. By treating each department as if it were part of a real-world company, they ensure financial accountability across the board.

Student Director Amanda says, "Constant communication is key. The Finance Team collaborates closely with all departments to compare actual spending against projections and make timely adjustments when necessary." Weekly sales reviews help identify which products, marketing strategies, and events are driving performance. And when sales exceed expectations, teams benefit from increased budget flexibility.

Thanks to the Finance Team’s diligence and strategic oversight, MPorium continues to operate as a financially sound and efficiently run student-led enterprise. This semester, the team’s favorite products are the Cherry rhinestone claw clips, Moira eyeshadow, and the 845 Hoodie!