Vesta Final Deliverable - Spring 2017 · Project Leader Nicya Manocchio Business Analyst Darius...
Transcript of Vesta Final Deliverable - Spring 2017 · Project Leader Nicya Manocchio Business Analyst Darius...
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ConsultYourCommunity
VestaMovement
ConsultYourCommunityatGeorgiaTech
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TheTeam
MariaRiveroProjectLeader
NicyaManocchioBusinessAnalyst
DariusRotnemBusinessAnalyst
NihalShahBusinessAnalyst
MarissaPittardMcKinseyMentor
Ching-ChiTuBusinessAnalyst
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AgendaTopic Slide
Background Slide4
Communications Slide6
Inventory Slide13
Budgeting Slide17
Expansion Slide23
WrappingUp Slide30
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ConsultYourCommunity
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TopicOverview
Communications Inventory
Expansion Budgeting
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CommunicationChannels
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CommunicationChannelsMayImproveEfficiencyandClarifyDuties
Scheduling
Updates
Customer recommendations/Ideas
Discussion of the day’s strengths and weaknesses (can be personal channel)
Mainly steered by the owners/Maddie
Online In-Office
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Trelloasthe“Whiteboard”forIn-OfficeCommunication
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Trelloasthe“Whiteboard”forIn-OfficeCommunication
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The most up-and-coming, easy-to-use app in the recent come-abouts of the tech world
Can create “channels” for discussions, like those aforementioned
Can additionally import photos and files to conversations, or post messages to yourself
SlackasEasy-to-ManageCommunicationSoftware
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SlackandTrelloConnectforEase
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SlackandTrelloConnectforEase
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Inventory
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ClassifyingInventoryWillHelpinReducingUnnecessaryCostsandOutstandingStock
Action Items that Vesta was not previously aware of:
● Adjusting and restarting the “negatives” in inventory stock in MindBody
● Changing inventory grouping for consistency via MindBody
Classifications that were created for all inventory in the last 6 months:
● Seasonal
● Keep High Stock/Keep Low Stock
● Choose One Color
● Consider Removing
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MoreVisibilityWillIncreaseSalesfortheRXBAR
Have been selling for at least the last 6 months, and average demand per month is very low
Determining low demand factors:
Ingredient list may not be appealing to wide range of customers
Visibility
Could keep this bar in stock while experimenting with a new bar addition
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NewProductsWillCouldAppealtoWiderCustomerBaseatVesta
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Budgeting
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CreateaBudgetingSystemAidforDay-to-DayDecisionMakingProcesses
Objectivesofabudgetingsystem:Create a simple yet adaptive tool to:
Use current and historic financial data to help financial planning
Break down and understand the key sources of revenue and fixed/variable costs
Allow for the implementation of future financial goals and objectives.
Offer potential third party software as options for the client to decide which product best satisfies their current situation
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ExcelRevenueTooltoServeasaShortTermBufferforTransitionIntoProfessionalSoftwareUsage
Interactive graphical
breakdowns
Printable financial summary
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GoalSettingToolProvidesBetterUnderstandingofFinancialOutlook
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UseQuickentoMakeBudgetingEasy
Quicken● #1 Budgeting app for Mac users● Plan your budget for the future● Features include how much to save to reach your goal● Imports bank transactions including credit card accounts● Simplifies taxes● Categorizes small business and personal transactions automatically● $65 to download the software
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ConsultYourCommunity
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Expansion
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CostEstimatesforExpansionCoverExpensesforaYear
● Getting a budget allocation● Sensitivity analysis which plots years vs inflation for better estimation
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DenverandPortlandareBestFitsforExpansion
• Examined: Median salary, location quotient, cost of living, rent, demographics, competition, demand, taxes, regulation, overall culture, etc
• Researched cities:
• Narrowed down to 2 best fit cities
• Denver, Colorado
• Portland, Oregon
○ Austin
○ Denver
○ Portland
○ San Francisco
○ Las Vegas
○ Sacramento
○ NYC
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WhyDenver?
• Ranked best place in country for business by Forbes
• 42% of population in target demographic
• Median age of 34
• Proximity to colleges
• Best state for health-conscious population
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LowerDowntown• Regarded as the ideal hub for urban living
• Very young population
• Denver’s version of Midtown
• Real estate quite expensive
• Home to most of the core age group of 24-35
• LoDo appealing because of its walkability and mass transit
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WhyPortland?• Climate almost identical to Denver
• Cost of living index: 141 (205 for housing)
• Employment per 1000 jobs for fitness trainers: 2.6
• Top marginal individual income tax rate of 9.9%
• State ranked 43rd in Small Business Survival Index
• Location quotient for fitness trainers: 1.51
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PearlDistrict• Entertainment/Recreation one of fastest growing
sectors here
• High population/population density
• Growing at 3% per year
• Lower median age than Portland as a whole
• Close proximity to downtown neighborhoods
• Considered the San Francisco of Oregon
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Summary
1
2
Communications
• AddCitadelNutritionandPureBlissbarstostock
• Givemorevisibilitytoproducts
Inventory
• UseTrelloasthe“onlinewhiteboard”anduseSlacktomaintainseparateconversationstreams
3
4
Budgeting
• UsetheExceltooltocalculateexpansionCapEx
• Denver&Portlandbestcities
Expansion
• ExpandtheExceltooltoseeaRevenue&Costbreakdown
• TransitiontoQuickenforcontinuousimprovement
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Questions?