Business Performance Optimized
Experiential Retail Craft Store
Situated in Quakertown, PA, a borough north of Philadelphia, is a craft and scrapbooking store serving the Delaware and Lehigh Valley metropolitan areas. Individually owned by a newspaper reporter turned entrepreneur who had purchased the business, the store not only offered up-to-date merchandise, but also experiential classes in design, creative development and incorporation into a scrapbooking routine. After several years of struggling in a declining industry, the owner was mentally ready to close the business, but feared ramifications from an inflexible landlord and a year remaining on the lease. Dedicated to stay and try to save the business, the owner decided to bring in help to not only promote the business, but also cultivate strong retailing and operational skills, and marketing techniques to exhaust all options to take the business to the next level.
Fortis Business Advisors was engaged to develop a comprehensive sales promotion to build awareness of the business and generate cash flow to pay down vendor debt. During the promotion, utilizing Fortis ForeSight™ a financial and operational analysis included comparative quarterly income statement trends, monthly master budgeting, cost of goods budgeting, break-even efficiency, ratio health, inventory turnover and controls, future marketing campaign development, and annual forecast modeling. In order to maintain control of the operation after completion of the promotional event, the requisite tools were developed in order to assist ownership.