Case Study: Sales Increase By 53% In 14 Months

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         Furniture Retail 

    Business To Consumer

Client Situation – AT A GLANCE

 

CHALLENGES:

  • Owner was working 80+ hours per week
  • Family life of the owner was stressed due to limited time
  • Retail sales had been stagnant over the last 3 years
  • Cash flow was tight and the business had been hovering at break-even for about 3 years.

SOLUTIONS

  • Established Key Performance metrics in Marketing, Sales and Customer Service.
  • Find, hire and train qualified staff to convert leads to sales.
  • Create innovative marketing strategies to bring IDEAL clients into the store
  • Clarify roles and responsibilities and accountabilities for team so the owner didn’t have to do it all.

RESULTS

  • Found qualified staff to absorb 60% of floor Sales time so the owner could do what he did best—Marketing
  • Within 3 months, owners time had reduced to under 35 hours / week.
  • Re designed Marketing plan increased leads and reduced advertising costs by 37%
  • Increase Sales by 53% in 18 months
  • Won Franchise of the Year award 18 months after starting.

HERE’S THE STORY

Frustrations of the amount of time required to run the business, flat sales over the past 3 years, and limited amount of household income coming from their franchise investment were just a few of the emotions being shared by the business owner we first met.  The owner and his wife had purchased a  specialty furniture franchise  offering high end beds and mattresses in hopes of living the dream of having control over their lives, more time to spend with their 3 children and making enough money to allow them to live their upper middle-class life style.

This business owner heard about Advanced Business Coaching when we were speaking at a local Chamber event and talked with us after our presentation.  He was clearly frustrated and had hopes that we could provide a path through the challenges he and his wife were experiencing.  After a thorough Evaluation / Alignment with the client, team members,  vendors and suppliers, we were able to see a clear picture of the current   situation and  developed a plan to over come some of their immediate challenges and achieve the longer-term goals envisioned by the business owner and his wife.

Immediate focus was placed in 2 areas:  1) Finding qualified people to do the education / sales work at the retail store  and 2) a review of the current Marketing /Advertising program to make sure there was a ROI on that investment.

Utilizing pre-hire assessment tools, newly formed job descriptions, realistic sales expectations and re-worked compensation plan, we were able to put 1 FT and 2 PT people to work within 90-days.  This allowed for more of the owners time to work on implementing a more effective Marketing plan.

Development of the Marketing plan required first-hand knowledge of what the customers really valued from the business.  A series of focus groups yielded a few surprises:  They loved the passion of the owner; they valued the on-going education provided by regular contact with the store and that price was not as important as  the sales and customer service experience.

As we trained and educated the new team members, and implemented the new Marketing Program to reach more of the ideal client base, sales began to rise above LY levels in month 4.  Over the next 14 months, retail sales from this location had increased 53%, the owner is spending less time in the  business and finding more balance in his life, and his location won Franchise of the Year for the “Most Improved Franchise”

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To your success,

Michael Stelter

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