Steven Adamaitis - Borislava Ashikova - Jason Byrnes - Bryant Hernandez  Matthew Ing - Ashley McKinn...
Download
1 / 32

Steven Adamaitis - Borislava Ashikova - Jason Byrnes - Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - - PowerPoint PPT Presentation


  • 87 Views
  • Uploaded on

Steven Adamaitis - Borislava Ashikova - Jason Byrnes - Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini. Problem. How can Walter E. Smithe guarantee continued success in the future? Questions include: - What changes are required/needed?

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about ' Steven Adamaitis - Borislava Ashikova - Jason Byrnes - Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue -' - brosh


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript

Steven Adamaitis - Borislava Ashikova - Jason Byrnes - Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini


Problem
Problem Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

How can Walter E. Smithe guarantee continued success in the future?

Questions include:

- What changes are required/needed?

- Has the brand outgrown the geographic area?

- Who/What are the most notable threats?


Contents
Contents Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

  • Company Overview and History

  • SWOT Analysis

  • Porter’s 5 Forces

  • Finance and Industry Analysis

  • Recommendations

  • Conclusion


Company overview history

Company Overview & History Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

Bryant Hernandez & Chris Venturini


Company history
Company History Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

  • Smithe and Shanahan form partnership in 1945 known as Tone Appliances and Furniture

  • WWII comes to end

  • Name changed to Smithe & Shanahan

  • Shanahan sells his share to Charles Smithe


Company history1
Company History Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

  • During the 1960’s Walter Jr. introduced custom order upholstery

  • Late 70’s early 80’s the Smithe

  • brothers Walter, Tim and

  • Mark join the company

  • Sell strictly furniture


Company overview
Company Overview Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

  • Furniture company based in Itasca, Illinois

  • “You Dream It, We Build It”

  • 11 Different Showrooms

  • Over 400 employees

    Bryant Hernandez


Company overview cont
Company Overview Cont. Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

  • Makes, sells, and repairs furniture, specializing in custom upholstery

  • Services

    - Textile combining

    - Color consultation

    - Space planning

    - Accessory placement

  • Partnered with over 200 designers

    Bryant Hernandez


Swot analysis

SWOT Analysis Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

Steven Adamaitis & Jason Byrnes


Strengths
Strengths Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

  • Economic Initiatives

  • Social Responsibility

  • Marketing

    • “You dream it we build it”

  • Quality Products and Selection

  • “SmitheCard”


Weaknesses
Weaknesses Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

  • Store Locations

    • Only 10 Chicagoland stores and 1 Indiana store.

  • Private Company

  • Furniture is too expensive??


Opportunities
Opportunities Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

  • Expand out of Chicagoland area.

  • Enter the low-end industry as well.

  • Hire real estate agents to help market their furniture to new home buyers.


Threats
Threats Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

  • Two main competitors in high-end furniture:

    • Ethan Allen

    • William Sonoma

  • Competition in low-end as well

    • IKEA


  • Porter s five forces

    Porter’s Five Forces Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

    Borislava Ashikova


    Financials industry analysis

    Financials & Industry Analysis Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

    Ashley McKinnie


    Revenues
    Revenues Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

    • Currently, revenue is about $102 million


    Industry comparison
    Industry Comparison Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

    • According to an article by Chicagobusiness.com, Walter E Smithe has been increasing sales by 6%


    Competitors
    Competitors Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

    • Ethan Allen

    • William Sonoma

    • Crate and Barrel

    • Pottery Barn


    Recommendations

    Recommendations Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

    Mike Minogue


    Recommendation 1

    Recommendation #1 Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

    Local Expansion “Where is the money?”


    Local expansion current locations
    Local Expansion - Current Locations Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini


    Local expansion population
    Local Expansion - Population Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

    • Need to open up in a populated area to insure long term sustainability


    Local expansion income
    Local Expansion - Income Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

    Median Income

    Percentage of households with income more than $200,000


    Local expansion belvidere il
    Local Expansion - Belvidere, IL Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

    • Relatively high income (~$50,000 median household)

    • 25,585 residents

    • Rockford extremely close

    • I-90 convenience


    Recommendation 2

    Recommendation #2 Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

    Florida Expansion “Where is grandma?”


    Florida expansion
    Florida Expansion Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

    Age Map

    Population Map


    Florida expansion sarasota fl
    Florida Expansion - Sarasota, FL Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

    • Part of Sarasota County

    • 52,211 residents

    • Access to Tampa via I-75

    • Brand recognition from retirees


    Recommendation 3

    Recommendation #3 Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

    Real Estate Partnership “Where is our furniture?”


    Real estate partnership
    Real Estate Partnership Bryant Hernandez Matthew Ing - Ashley McKinnie - Mike Minogue - Chris Venturini

    • Furnish old and new homes with great furniture

    • Baird & Warner, Coldwell Banker, RE/MAX

    • Give agents incentives for recommending Walter E. Smithe


    Conclusion

    Walter E. Smithe’s continued success will be guaranteed through utilizing its strongest assets: Brand reputation and mastered business model:

    • Walter E. Smithe has a solid reputation and brand image that should not be altered

    • The business model can be successfully implemented in other geographic markets

    • Partnering with others in related fields (real estate)

      The recommendations discussed in this presentation do exactly that

    Conclusion


    ad