SOCCCD Collaborative 20092010 CTE Grant Funded Externship Marketing Management amp Sales of the Retail Small Business Owner Presented By Ann Bergen ROP Career Guidance Specialist ID: 728183
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A Saddleback Community College SOCCCD Collaborative 2009-2010CTE Grant Funded Externship
Marketing, Management & Sales of the RetailSmall Business OwnerSlide2
Presented By: Ann Bergen, ROP Career Guidance Specialist, San Juan Hills High School
In Collaboration With: Saddleback Community CollegeCounseling Services & Special Program & Toy Town Inc. toy storeOn Behalf Of: The Capistrano Laguna Beach Regional Occupational ProgramSlide3
Toy Town, Inc.25632 Crown Valley Pkwy, Ladera Ranch, CA 92694
Small Business Owners, Joshua and Irene Vecchione, Make Entrepreneurial Success Appear to be Child’s PlaySlide4
Small Business/Entrepreneur Industry Sector Entrepreneurial success does not come easily, but through hard work, persistence and an element of risk taking, small business ownership can be financially profitable and personally rewarding. Case in point, the Joshua and Irene Vecchione
Toy Town Inc. toy store of Ladera Ranch, CA. Widely recognized for its creativity as a business venture and its extensive community outreach, Toy Town Inc. is part of the Small/Business Entrepreneur Industry Sector. Slide5
In the Beginning Joshua Vecchione, known to locals as simply Joshua, established Toy Town Inc. in 2004 when the new community of
Ladera Ranch opened its second major shopping center; Mercantile West. Today, Toy Town Inc. is still an original tenant of the center and a hub of activity for a close knit community.Slide6
Past Experience As a natural “people person”, Joshua has learned to combine his outgoing personality and a passion for business ownership. Previously, Joshua’s small business experience was in another product; fine jewelry. Over safety and theft concerns, Joshua contemplated creating a new small business. Among consideration was a coffee venue, but when a small business opportunity in Irvine, CA led to a management position in a toy store, the future of Toy Town Inc.
became an inevitability. Slide7
Getting StartedWrite a Business Plan
Search for Store LocationLease NegotiationsCapital Outlay & FinanceStore Design & FixturesInventory AcquisitionHire EmployeesAdvertising CampaignWord of Mouth Marketing
Community Awareness
The Entrepreneur’s Checklist
Before the open sign is put out, small business owners have an extensive check list to complete.Slide8
Onward & Upward
Taking Care of Business Means:Tracking SalesRestocking InventoryOrganizationHiring HelpFamily Assistance
Jack of All Trades
Long Work HoursSlide9
A Community’s Embrace In the early years of Toy Town Inc., the Vecchione family experienced brisk sales. Becoming residents of the
Ladera Ranch community offered another layer of kinship between Toy Town Inc., and a young vibrant community. Raising their own family alongside neighbors allowed the Toy Town’s customer base to blossom into a large following. Slide10
Giving BackCommunity Involvement is a hallmark of the Toy Town, Inc. business. Chamber of Commerce
Coble Family Fundraiser Business Advocacy Disaster Relief Efforts Middle & High School Career Fairs Children’s Theatre Program Chronic Condition Support GroupSlide11
A Formula for SuccessStrategic Business TacticsUnique InventoryExtraordinary Customer Service
Robust EconomyLoyal Customer BaseCommunity Involvement Early Success Slide12
Unexpected Hard Times An old saying, “What goes up must come down” certainly applies to the once economically booming South Orange County suburban area of Ladera Ranch. Once global recessionary times begin in 2008, sales at Toy Town, Inc.
are hard hit. Local residents of the quaint community curb their spending habits, leaving local businesses to struggle in meeting overhead expenses. In the high rent center of Mercantile West, many businesses shutter their doors. Toy Town, Inc. contemplates closure, but instead turns to survival marketing and its deep community ties to weather the economic climate.Slide13
The Bump in the Road
An Economic Recession Leads to a Set Back:Ladera Ranch Residents Face ForeclosuresEconomic Slow Down is WidespreadToy Town, Inc. Experiences Sales Decline
Mercantile W. Center Tenants Face Eviction
Toy Town, Inc.
Contemplates Closure
Local Publicity Highlights Business Plight Slide14
Turning to Survival Marketing Creative solutions focus on: increasing cash flow, maintaining customer loyalty and stepping up community visibility.
Birthday Wish ListBusiness ConsultingBusiness BrandingCommunity Involvement Curbside OrdersFacebookGift BasketsMerchandise DonationsTreat Employees Well
Pre-Purchase Club Cards
Publicity
Store Credit
Reward Loyalty
SaveToyTown.comSlide15
Tricks of the TradeOwner Joshua Vecchione thinks outside the box to maximize sales and name recognition in a tough economy.
Not one to give up easily, Joshua pulls out every conceivable marketing idea to “just keep swimming”. Some plans are simple and basic business practices. Other ideas are creative, and in some cases, down right genius. Even distinguished publications such as The Wall Street Journal take note. Highlighting here a few of Toy Town Inc.’s survival marketing tools provide practical assistance to any entrepreneur regardless of economic conditions.Slide16
Bright Ideas
Sleeping Toddler in Your Car? No time to shop for a party gift? No problem, Toy Town, Inc. can provide curbside service in no time. One quick phone call and a short drive by on the way home and your purchase is ready and delivered to your car at the store’s curb. It is the drive through option for the hurried shopper. A sampling of the creative solutions to keeping sales brisk seen here in a business card handout.Slide17
Best Idea YetThe Wall Street Journal Pick
Raising capital with Pre-Purchase Club Cards tied to customer discounts and special events brings in much needed cash flow and increases customer loyalty for the small retail business owner.Slide18
www.SaveToyTown.com Despite concerted marketing efforts, sales for Toy Town, Inc. at the height of the recession
were off by 50%. Contemplation of shuttering the business and starting afresh in another venture was seriously considered by Joshua and Irene Vecchione. However, once the word was out about the slumping sales, a rallying cry to “Save Toy Town” came from the same Ladera Ranch community the Vecchione’s had so faithfully supported. A web site was designed and word was spread online and in line at local businesses that the future of Toy Town, Inc. was in jeopardy.Slide19
Within hours, residents flocked to the store to buy any possible toy purchase that might be needed. Within days, the Toy Town, Inc. toy store had nearly sold out of their merchandise. A personal letter to the community was posted next to the store’s “Open” sign thanking customers for their outpouring of support. Truly, it was a scene
Toy Town, Inc. will never forget as they realized, yes, it is a wonderful life, recession or not. It’s A Wonderful LifeSlide20
Branching Out Reinvigorated from community support, Joshua presses on, but it is not business as usual. Out of necessity, a new idea emerges to help supplement the store’s income. For those wanting to start their own business, Joshua Vechchione has taken on the role of a freelance entrepreneurial consultant. From start to finish, Joshua will help launch a client’s retail small business. Slide21
Moving With the CheeseConsulting services include: Business Plan DevelopmentLocation & Lease Assistance Store Set Up Vendor SuggestionsCost Efficiency Analysis
One Year of Inventory Purchasing Entrepreneurs that survive in the long haul know how to adapt themselves to change.Slide22
Toy Town, Inc.’s Secret Weapon
Not to be forgotten, the secret weapon of any fine business is its personnel. Keeping your staff happy and productive is a key ingredient to a successful business. No customer will forget a sour salesperson and thereby dooming any businesses’ marketing efforts. Making workers a part of the team and giving them a vested interest in the establishment’s success are resources well invested.Family friends and co workers at Toy Town, Inc. Eli Pavoni and Karen Nagel.Slide23
Doing What Comes Naturally Be it the use of social media, taking special orders, knowing their customers base, being involved in service and charitable outreach, and community participation in areas such as:Children’s TheatreSupport Group for the Chronically Ill
Ladera Ranch Chamber of CommerceLocal Ballroom Dancing Classes there are few places and organizations of Ladera Ranch the Vecchione family has not become a part of. In truth, they are both a social and socially aware iconic family that has developed a reputation as the “go to” business for professional and personal challenges in need of support. Slide24
Staying Relevant Toy Town Inc. is an example of what the mom and pop store of yesteryear represented. Before box chain stores and large corporate retail discounters became a way of life for the American consumer, small businesses were the center of social activity and commercial enterprise. Today, if done correctly, small businesses can continue to thrive and remain a part of our American business heritage while continuing to adapt itself to the changing technologically driven trends of our times. Slide25
Sticking Together The need to shop and gather together as a group is still an important part of the shared human experience. It takes a skilled people person to bridge the gap between sales and customer service that is sincere and heartfelt. The personal touch is something that the consumer can simply never find by shopping online. It is still something to be experienced in person.Slide26
A Day in the Life: Toy Town, Inc.
Curbside Orders Waiting to GoAlso Available ~ Custom Prefilled Party Bag Favors ~ Making Party Planning Easy & ConvenientJust, “Joshing” around makes Toy Town, Inc. fun for all.Slide27
Thank You!Thank you to Toy Town, Inc. for their generous donation of time and assistance in the education of future entrepreneurs. We wish you all the best as you continue your business and community endeavors.Thank you to
Saddleback Community College and the SOCCCD Collaborative 2009-2010 CTE Grant Funded Externship program for making this presentation possible.Thank you to the Capistrano Laguna Beach ROP (www.capolagrop.org) for the outstanding Career & Technical Education they provide for South Orange County high school and adult students.