Date post: | 21-Dec-2014 |
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Business |
Upload: | sean-goodall |
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Cooke Art GalleryCooke Art Gallery
Business Plan 2 Recommendations for Improvement
Business Plan 2 Recommendations for Improvement
Group 22Group 22Sean Goodall, Adrien Grelon, Elisabeth Piccolo, Antoine Masse, Dimitri BonnisSean Goodall, Adrien Grelon, Elisabeth Piccolo, Antoine Masse, Dimitri Bonnis
OverviewOverview
Special Special CommissioCommissio
nnLimited MarketLimited Market
New Website New Website and “e-Store”and “e-Store”
Improved Improved Market Market
ResearchResearch
Dealing withDealing withthe Off-Seasonthe Off-Season
IntroductionIntroduction of of
Art WorkshopsArt Workshops and Discussionsand Discussions
AnalysisAnalysis AnalysisAnalysisAnalysisAnalysis
SuggestionSuggestion SuggestionSuggestionSuggestionSuggestion
Financial Financial ClarityClarity
Improved Improved Finance Finance SystemsSystems
AnalysisAnalysis
SuggestionSuggestion
Analysis WebsiteAnalysis Website
•Limited international customer base
•Currently, deliveries are only made on “special request,” imposing heavy fees on clients
•Limited international customer base
•Currently, deliveries are only made on “special request,” imposing heavy fees on clients
Website and “e-store”Website and “e-store”
• implement the e-store on the website
• have an employee to manage the website and shipping
• hire a third party shipping company such a Fedex
• 1 takeaway: By selling online, Cooke Galley would be increasing their potential customer base enormously, for not much effort
• implement the e-store on the website
• have an employee to manage the website and shipping
• hire a third party shipping company such a Fedex
• 1 takeaway: By selling online, Cooke Galley would be increasing their potential customer base enormously, for not much effort
Analysis Market Research
Analysis Market Research
•Previously based on broad statistics
•No focus on consumer demand
•No research into other galleries/new products
•Previously based on broad statistics
•No focus on consumer demand
•No research into other galleries/new products
Market AnalysisMarket Analysis• Determine who is NOT buying their products, explore how the
gallery can cater to them
• Customer survey - demographics, age, gender, overall impression of gallery and it’s products
• Market Research:
• Market Growth Rate
• Market Profitability
• Market Trends
• Key takeaway: An increase in market research will reduce the risk of introducing a new line up that proved to be a flop
• Determine who is NOT buying their products, explore how the gallery can cater to them
• Customer survey - demographics, age, gender, overall impression of gallery and it’s products
• Market Research:
• Market Growth Rate
• Market Profitability
• Market Trends
• Key takeaway: An increase in market research will reduce the risk of introducing a new line up that proved to be a flop
Analysis Off-SeasonAnalysis
Off-Season
•Weaknesses - slow season
• Two primary client bases
• Solution = expand client base
•Weaknesses - slow season
• Two primary client bases
• Solution = expand client base
Dealing with the Off-Season
Dealing with the Off-Season
• Community workshops for all ages.
•Art discussion groups
•Key Takeaway: The gallery should be less dependent on tourists and strengthen community relations.
• Community workshops for all ages.
•Art discussion groups
•Key Takeaway: The gallery should be less dependent on tourists and strengthen community relations.
Analysis -Lack of Financial Data
Analysis -Lack of Financial Data
•Lack of accurate financial data
•No detail as to what “purchase” is
•No interest rate
•Almost half of the costs are variable
•Lack of accurate financial data
•No detail as to what “purchase” is
•No interest rate
•Almost half of the costs are variable
Financial RecordsFinancial Records
• Recommendations:
• Hire an accountant
• Accurate graphs
• Accurate data (interest rates, explanations etc.
• Key Takeaway: Understanding the flow of the money will help the Gallery focus in on where costs can be cut to maximize profits.
• Recommendations:
• Hire an accountant
• Accurate graphs
• Accurate data (interest rates, explanations etc.
• Key Takeaway: Understanding the flow of the money will help the Gallery focus in on where costs can be cut to maximize profits.
How you can implement this tomorrow...
How you can implement this tomorrow...
•Hire a website designer
•Begin surveying customers
•Look for a caterer for the discussions/workshops
•Find an experienced accounting
•Hire a website designer
•Begin surveying customers
•Look for a caterer for the discussions/workshops
•Find an experienced accounting