eXtension by wuyunqing

VIEWS: 3 PAGES: 73

									         eXtension
 Entrepreneurs & Their
     Communities
www.extension.org/entrepreneurship

 Mary Peabody, UVM Extension
      Housekeeping Details
• Sharing your email address
• Webinar evaluation at
  http://tinyurl.com/yeblabu
• Site orientation
Identifying Assets and Opportunities in Your Community
        eXtension Entrepreneurs & Their Communities




                         Bill Pinkovitz
                       December 10, 2009
               TODAY

Using secondary data to learn more about:

    Your Community

    Your Business

    Your Competitors

 In order to make better informed
 decisions about your community/business
HOW WELL DO YOU KNOW
Customers, Potential Customers, Visitors, Potential Visitors,
Residents, New Residents, Workers, Labor Force, Commuters, Congregation,
Students, Constituents….
It ain’t what you
don’t know that gets
you into trouble.

It’s what you know
for sure that just
ain’t so.”

       Mark Twain
I’ve lived here
all my life and I
know this town
and what it
needs




                    We just moved here from
                    the Cities and we know just
                    what this town needs
Jackson County, WI
NOTHING CHANGES AROUND HERE

In 1900, the population of
Jackson County,
Wisconsin was 17,466.

By 2008, the population
had grown to 19,900
(14%)

During the same period,
Wisconsin’s population
almost tripled
Between 2010 and 2030, the
population of Jackson
County is projected to grow
faster than the state’s
population. (14.% vs 11.0%)
http://www.census.gov
NOTHING CHANGES AROUND HERE
A net of only 584 people
migrated into Jackson
County between 2000 and
2005.




 http://enterprise.star-telegram.com/ARCIms/Maps/clt/2007/irsmig.asp
NOTHING CHANGES AROUND HERE

However, that includes 4,477
people who moved into the
county and 3,893 people who
moved out of the county
between 2000 and 2005.




 http://enterprise.star-telegram.com/ARCIms/Maps/clt/2007/irsmig.asp
NOTHING CHANGES AROUND HERE


 In 2006, there were 9,749 jobs in Jackson
 County

 49.2 percent of all the jobs in Jackson County
 were filled by non-county residents




               http://lehd.did.census.gov/led/
NOTHING CHANGES AROUND HERE


 9,299 Jackson County residents had jobs in
 2006

 46.8 percent of those jobs were outside of the
 county




                http://lehd.did.census.gov/led/
http://lehd.did.census.gov/led/
NOTHING CHANGES AROUND HERE


 In 2007,

 Jackson County residents earned $93.0 million
 working outside the county

 Non-county residents earned $65.4 million
 working in Jackson County



            http://bea.gov/regional/reis/
http://bea.gov/regional/reis/default.cfm?selTable=CA91&section=2
NOTHING CHANGES AROUND HERE

 In 2000, 83.9 percent of
 the women with children
 under the age of 18 were
 in the workforce in
 Jackson County.

 In 79.4 percent of the
 Jackson County families
 consisting of two parents
 and at least one child
 under 18 years old, both
 parents worked in 2000.
 http://factfinder.census.gov
NOTHING CHANGES AROUND HERE


True or False

There are more
married couple
households with
children than single
person households in
Jackson County, WI.

http://factfinder.census.gov
NOTHING CHANGES AROUND HERE




         http://factfinder.census.gov
NOTHING CHANGES AROUND HERE




    http://www.wowonline.org/ourprograms/fess/sss.asp
SOWHAT?
How well do you know your Customers, Potential Customers, Visitors, Potential
Visitors, Residents, New Residents, Workers, Labor Force, Commuters,
Congregation, Students, Constituents….
    SO WHAT?
• Half the employed residents work out of the county
• Half the local employees live outside the county
• Residents earn $93 million outside the county
• One in four didn’t live in the county five years ago
• One in five residents moved out of the county in
  the last five years
• Both parents work in 80% of the families with two
  parents and a child
• Single person households comprise ¼ of all
  households
• It takes $29,000 per year to support a family of 4
He uses statistics as a
drunken man uses
lamp-posts

for support rather than
illumination


  Andrew Lang (1844-1912)
WHAT ABOUT ENTREPRENEURSHIP?
Estimating Sales:
  •   Business Capacity

  •   Industry Averages

  •   Break Even
                                          Al’s Meat Market




http://www.uwex.edu/ces/cced/entrepreneurs/ResoucesforEntrepreneurs.cfm
Secondary Market Research
Need to Stay Optimistic
SECONDARY MARKET RESEARCH
THE OPTIMIST




With all this horse manure, there has to be a
pony…..somewhere
SO WHAT?
According to Dun & Bradstreet

95 percent of all business failures a result of:
 •   Market Failure
       Lack of an adequate market
       Inability to capture the market
       Inability to adapt to changes in the
      market

 •   Management Failure
       Inability of management to mangage
If the facts don't
fit the theory,
change the facts.

- Albert Einstein
BIG BOXES AND OTHER CARNIVORES
Largest Toy Retailer?

  a.   Toys R Us
  b.   eBay
  c.   Wal-Mart
  d.   KB Toys
Largest Jewelry Retailer

  a.   Zales
  b.   Kay
  c.   Wal-Mart
  d.   HSN
Largest Furniture Retailer

  a.   Slumberland
  b.   Lazy Boy
  c.   Wal-Mart
  d.   Sears
    ONE MORE CHANCE

Nineteen years after establishing itself in small
rural communities, the time came for business
to prove that cities were its field.

During one 12-month period, stores opened on
the average of one store every other business
day.

When two huge stores opened in one city on the
same day, more than 120,000 people visited
them during the first 12 hours they were open
           Sears Roebuck in the 1920s

In the late 20's, Sears
stores opened on the
average of one every
other business day.

When two huge stores
opened in one city on
the same day, more
than 120,000 people
visited them during the
first 12 hours they were
open.        http://www.searsarchives.com/history/history1925.htm
THE SECRET DOCUMENTS
 LEGAL CORPORATE ESPIONAGE
  ACCESSING THE
SECRET DOCUMENTS
WAL-MART TELLS YOU


Wal-Mart was founded in 1962
By 1979, sales reached $1 billion per year.
By 1993, sales reached $1 billion per week.
By 2006, it took 1.2 days to sell $1 billion
Worldwide sales were $312 billion (FY06)
Profits were $11.2 billion (06)
             www.walmartstores.com
WAL-MART TELLS YOU


Employs 1.8 million people
Had 6,100 stores worldwide (2,460 Supercenters)
Added 267 Supercenters (06)
Average Supercenter is 187,000 square feet
International sales totaled $62.7 billion (06)
Planned to add 307 stores in 2007
             www.walmartstores.com
     SOME PERSPECTIVE
In 1990, Wal-Mart had nine Supercenters

               By 2006, there were 2,460
               Supercenters
               90 percent of all Americans lived
               within 15 minutes of a Wal-Mart
               93 percent of all Americans shop at
               Wal-Mart every year
               The increase in Wal-Mart’s sales in
               2005 and 2006 was greater than
               Target’s total annual sales
    WE WANT TO KNOW


Average Wal-Mart sales per household
Average daily sales at a typical Wal-Mart
Average number of daily transactions
Average pharmacy sales per store
SALES PER HOUSEHOLD
     Domestic Sales




      www.walmartstores.com
SALES PER HOUSEHOLD
 Domestic Sales ÷ Total Households



       $ 209.9 billion in sales
     ÷ 111,090,617 household

     ≈ $1,891 per household
   SALES PER DAY
Begin with sales per Superstore
              Retail Conglomerates
              Division Breakout
              Store                   Sales(06)   Stores(06)




                          Chainstore Age, 2006
         SALES PER DAY
      Begin with sales per Superstore
                      Retail Conglomerates
                      Division Breakout
  Sales ÷ Stores      Store               Sales $000 (06)   Stores(06)




  $158,500,000,000
÷ 1,980 stores

≈ $80 million/store             Chainstore Age, 2006
       SALES PER DAY
  Sales per store ÷ 365 days per year


  $80 million per year per Superstore
÷ 365 days per year

≈ $219,000 per day per Superstore
TRANSACTIONS PER DAY
 Begin with average spending per trip




       www.gmabrands.com/publications/gmairi/2003/october/October.pdf
 TRANSACTIONS PER DAY
         Daily sales ÷ sales per trip



  $219,000 per day
÷ $55.11 per trip

≈ 3,975 trans/day



       www.gmabrands.com/publications/gmairi/2003/october/October.pdf
PHARMACY SALES PER DAY

                                            UNITED STATES
                                SECURITIES AND EXCHANGE COMMISSION
                                         Washington, D.C. 20549
                                              FORM 10-K


                                              Commission file number 1-6991.
                                   WAL-MART STORES, INC.
                                    (Exact name of registrant as specified in its charter)




                       Delaware                                                                     71-0415188
            (State or other jurisdiction of                                                      (IRS Employer
incorporation or organization) Bentonville, Arkansas                                         Identification No.) 72716
       (Address of principal executive offices)                                                     (Zip Code)




         http://www.sec.gov/Archives/edgar/data/104169/000010416903000005/final10-k.htm
PHARMACY SALES PER DAY
                As a percentage of total sales
                                         PERCENTAGE OF SALES
CATEGORY
Grocery, candy and tobacco                                24%
Hardgoods                                                 20
Softgoods/domestics                                       18
Pharmaceuticals                                            9
Electronics                                                9
Health and beauty aids                                     7
Sporting goods and toys                                    6
Stationery                                                 3
      http://www.sec.gov/Archives/edgar/data/104169/000010416903000005/final10-k.htm
PHARMACY SALES PER DAY



  $219,000 per day
x .09 of sales

≈ $20,000 per day
WAL-MART SHOPPERS
              Percentage of total sales




Understanding the Wal-Mart Shopper, Consumer Insight Magazine, A.C. Nielsen Company, 2004
WAL-MART SHOPPERS
                               By income




Understanding the Wal-Mart Shopper, Consumer Insight Magazine, A.C. Nielsen Company, 2004
WAL-MART SHOPPERS
                           Trips per year




Understanding the Wal-Mart Shopper, Consumer Insight Magazine, A.C. Nielsen Company, 2004
NOT JUST WAL-MART
NOT JUST WAL-MART
SO WHAT?
•   4000 transactions per day
•   Attention Wal-Mart shoppers
•   93% of Americans shop at Wal-Mart
•   90 percent live within 15 minutes of a Wal-Mart
•   20 versus 73 trips per year
It ain’t what you
don’t know that gets
you into trouble.

It’s what you know
for sure that just
ain’t so.”

       Mark Twain
bill.pinkovitz@uwex.edu
      Housekeeping Details
• Don’t forget to mark your 2010
  calendars with the dates of the
  upcoming webinars – 2nd Thursday
• January – March – E-commerce series
• Evaluation http://tinyurl.com/yeblabu
• Happy Holidays!!

								
To top