client journey
Improving business health.
To achieve their dream of a 10-store chain this retailer would need to attract growth capital. To prepare for such a transaction, they needed to significantly improve their profitability and cash flow to meet market expectations.
35+
Employees
3
Stores
$2M
Annual Revenue Increase
46%
Annual Profit Increase
Lacking data and systems
The current owners acquired a single retail store from its founder. They since opened 2 more locations.
Because they are talented at creating beautiful spaces, they wanted to scale their brand to at least 10 stores. However, with growth came issues management the business as the owners were pulled in many different directions. To see improvement in their financial results they would need to implement multiple systems and processes to improve efficiency. A leadership team was needed to plan for, manage and coordinate all buying, receiving, replenishment and marketing efforts.
Inaccurate and inventory management system
Outdated point-of-sale system
Lack of integration between inventory management and POS systems
Limited sales reporting
Inadequate data analysis driving decision making
Client Results
The Destined team recommended implementing systems through which the owners can track profitability while setting, communicating, and holding the team accountable to established expectations. Destined supported the owners as they worked to get the right people into the right roles. The first two infrastructure projects the team tackled were consolidating all inventory into one warehouse and implementing a new POS system. Several important people projects were completed including thorough job descriptions and an updated employee handbook. The stores updated their replenishment schedule so visual merchandising was complete prior to opening, and all stores are now open on Sunday.
+2M$ million in year over year revenue
+46% year over year profit increase
- Management is aligned on growth goals
Team is working efficiently
“The Destined team helped me step away from the day to day of the business so I can focus on the things I enjoy. I needed someone to give me permission to let my team manage the work so I can spend my time being more creative and strategic.”
CEO & Owner, Home and Garden Retail Chain