Thoro Bred Feed Sale Acquisition

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Thoro Bred Feed Sale Acquisition by Mind Map: Thoro Bred Feed Sale Acquisition

1. Lindsey's friend

1.1. Totally integrated program for billing, inventory, etc.

1.2. Field Technology (Ipads, etc.)

1.3. Credit card phones in the field

2. Management/Company Structure

2.1. COO Role?

2.2. New business Development

2.2.1. Increase sales

2.2.2. fire un-wanted clients

2.3. Field operations

2.4. Finance and accounting

2.5. administrative

2.6. What to do during off season

2.6.1. Snow plowing

2.6.2. Trucking service

2.6.3. Unemployment Insurance

2.7. If we are afraid of chaninging we might not bring up the key thing that will make us more money

3. Outside Consulting

3.1. Brumfield

3.2. Purina

3.2.1. Tour other feed store sites on the east coast

3.3. Florida expansion

3.4. Lee Hall and the florida guy

3.4.1. look at Lville store going out of business

4. Items of interest

4.1. Look at every line of the P/L

4.2. Look at insurance

4.3. Look at Telephone charges

4.4. Credit Card Costs

4.5. Deal with Gas Stations for Fuel

4.6. Deal with Garage for repairs

4.7. Look at Meidcal Insurance and 401K

4.8. Headcount?/Overtime

4.9. All existing Relationships

4.10. Vendor Relationships/discounts

4.11. price list given to the workers

4.12. give workers a spec sheet to help educate customers

4.13. Map with coverage detail and customer location

4.14. Shouldn't we be talking to triple star

5. How Do We Drive Revenue?

5.1. Who don't we have as clients and why?

5.2. What is our new buseinss Methodolody

5.3. Who have we lost over the lst few years and why?

5.4. Our plan for a/r control

5.5. Get Kentucky Guys!!!

5.6. Who is charge of Sales

5.7. Parking Revenue during the meet

5.8. Sell Supplements and wormers/barn supplies

5.9. Share a salesperson with Purina

5.10. golf cart for side items during meet

5.11. 43% of our business is at the tb track. needs to decrease

5.12. how do hold people responsible for getting names and emails for everyone who comes into store.

5.13. ask all the ops team - how do we drive revenue and decrease costs and increase efficiciency?

6. Fasig Issues

6.1. Have them keep funds in company

6.2. ability to provide working capital

7. Personnel Matters

7.1. Time Clock

7.2. Org chart

7.3. Job Descriptions

7.4. Vacation/Sick Days

7.5. Review Health and 401k to Fasig Matters

7.6. Employee Manual

7.7. Plan for activity fluctations at different times of the year.

7.8. Salary Issues

7.8.1. Salary vs. hourly

7.9. Future of/Best use of Bill Pitney and Bill Muraskus

7.10. Employee development

7.11. Vendor sponsor conventions

7.12. Billy M. pay increase

7.13. Look at new case register

7.14. Get golf cart for order takers

7.15. can WPT get offices at Fasig?

7.16. Balanced Scorecard

7.17. look at co managers - billy and a business dev person

8. Accounts Receivable

8.1. Strategy for Contoling A/R

8.2. Mechanics of FT payment of A/R as of 6/30

8.3. Increase use of CCs

8.4. cutting off customers

8.5. implementing payment plans

8.6. utilizing collections

8.7. Fire Unwanted Clients

8.8. Recording allowance on monthly basis

8.9. Discuss w/Boyd 2013 season - Zito & Terranova

9. Why Are We Doing This?

9.1. Within racing industry

9.2. Partnership w/ compatible/well capitalized Company

9.3. Incredible upside through technology and improved protocals

9.4. Develop into a consistent revenue stream for WPT

10. Technology

10.1. Use of Epicor for Admin/Financial management

10.2. Create email addresses for team members

10.3. Create Facebook account

10.4. Update website

10.4.1. Use Isaac at FT

10.5. Build client email listing

10.6. iphones and ipad for each worker

10.7. Equipment for warehouse

10.7.1. Forklift (renting?)

10.7.2. "Gator" for taking orders

10.8. put video in back and on the side (put in billy's office and also the front room

11. General Questions

11.1. how do we record darley transaction? Tom and Kiaran?

11.2. Don't offer credit cards for big accounts that pay.\

11.3. use return envelopes

11.4. How are we handling people paying for stuff and then going in the store to load themselves???

11.5. Are the trailers secure?

11.5.1. New trailers

11.6. Who are we giving to collections?

11.6.1. Test

11.7. Look at one full time person in the office for office manager.

11.8. provide office staff with a very detailed instruction sheet for daily, weekly and monthly responsilities.

11.9. Who are good candidates to run the business

11.10. Did we meet with Tom Quinn at Adirondack

11.11. Should we just get people off rye straw

11.12. Should we sell Pete moss

11.13. New Topic

12. Weekly duties

12.1. Melissa and Bill have to have weekly meeting for a/r

13. PR and Promotion

13.1. Brand incentive plans

13.2. Purina assistance

13.3. Utilizing templates

13.4. Email acquisition

13.5. Local media coverage

13.6. Local sponsorships/charity events

13.7. Joint ventures

13.8. Social media marketing plan

14. Education/Employee Development

14.1. Purina Sponsored Events

14.2. Customer Service

14.3. Product Knowledge

14.4. Company Meetings

14.5. Incentive Plans

14.6. Employee evaluations

14.7. do a benefit summary on a quarterly basis

15. Vendor Relationships

15.1. Develop better relationships

15.2. Explore additional relationships

15.3. Leverage Ruth and Rusty relationship

15.4. Leverage Larry Drennan relationship

15.5. Blue Seal and Nutrena reps

15.6. Rythem of Vendor Deliveries

15.7. Reorder Points

16. Transition from Bill Pitney

16.1. Vendor list

16.2. Ordering protocol

16.3. Pricing issues

16.4. Inventory re-order points

16.5. Staffing

16.6. ensurance that he steps away from main store

17. Efficiency Issues

17.1. Look at Florida guy

17.2. Look at Lee Hall stuff

17.3. Longer Truck Beds

17.4. Use staging area for Station Lane

17.5. Day off like Hallway Feeds

17.6. use of rail station

17.6.1. sell excess feed to competitors

17.6.2. store feed in bowl

17.7. get interns from the state schools

18. Station Lane

18.1. Intermodal Containers need to get 28 ffoters delivered instead of 54 footers

18.2. move hay and straw ops to East Avenue

18.3. ensure as few trailers as possible are charged mothly rent by nyra

19. Customer Delivery Issues

19.1. Min. Order

19.2. Frequency

19.3. Optimizing Routes

19.4. Staffing

19.4.1. Winter Time adjustments

19.5. Add on Sales

19.5.1. Incentives for selling more

19.6. Possible tack/item truck during the meet

19.7. Use of Drop Trailers where possible

20. Order Taking

20.1. Better Process

20.2. use of Ipad

20.3. use of golf cart/gator

20.4. Process of using data for reorders instead of just looking at lofts

21. Warehouse Operations

21.1. Better process to stage

21.2. Receipt and deliveries of items

21.3. Hay Grab

21.3.1. Use of smaller trailers vs. largers ones

21.4. Longer Trucks

21.5. Possible Moffett

21.6. Inventory control items

22. Equipment Issues

22.1. What is the maintenance Plan for each?

22.2. Decals and phone numbers on truck

22.3. What new equipment do we need?

23. Project to reduce number of similar products we buy and sell

23.1. What feeds appear similar

23.2. What items do we sell very few of?

24. balanced scorecard

25. peak season planning and strategy

26. Purchase Documents

26.1. a/r at June 30 - Ensure the cutoff of things as of that date

26.2. Due to Fasig payment plan

26.3. Working capital

26.4. other financial debits and credits to Fasig

27. Locked down value of Fixed Assets

28. Signover on July 1 Actions

28.1. Asset value

28.2. Inventory Value

28.3. New WPT LLC

28.4. Purchase Agreement

28.5. Operating Agreement

29. Purchase Agreement

29.1. Develop a new LLC for WPT to own

29.2. 4 year payment terms

29.3. Not purchasing A/R as of 6/30

29.4. Calculation of Inventory/PP&E as of 6/30

30. Movement of Store

30.1. Other Site(s)

30.1.1. Lease of existing tenants

30.1.2. reconfiguration of building

30.1.3. office space

30.1.4. Lease details

30.1.5. Permits needed?

30.1.6. Movement plan/timeline

30.1.7. Use of Mike Ingersoll

30.1.8. Use of Sonny Bonacio

30.1.9. Use of Purina consulting

31. Inventory actions

31.1. count on a quarterly basis

31.2. count/inspect PP&E October/April

32. Controller Items

32.1. Look at Bringing on Controller

32.1.1. ****A/R Issues Billing Protocal Focus on overdue accounts

32.1.2. ****COGS Issues/Sales not in alignment due to how we book them

32.1.3. Look at Quickbooks Issues

32.1.4. Processes for efficiency improvements

32.1.5. Job Description

32.1.6. Position Search

32.1.7. How to deal with Inventory

32.1.8. What does Teresa at Fasig Tipton do? How can we cut dow non these takss

32.1.9. Order taking/Processing

32.1.10. Technology Issues

32.1.11. Implement integrated inventory system

33. Operating Agreement

33.1. monthly management fee

33.2. Line of Credit from FT

33.3. Co-management issues

34. Core Priorities for to end of 3rd Quarter (October 1)

34.1. ***Pricing Matters

34.1.1. Focus on Thoroughbred Silo Margin

34.1.2. What deals with what trainers?

34.1.3. Evaluate the system used to date for pricing changes (Bill P. Folder) How are they incorporated into QB's.

34.1.4. Have Bill P. explain how the customers are reacting and/or will react.

34.1.5. What are the products least likely to incite negative reaction from Clients Hay/Straw Feed High Quality Low Quality High Performance Feed Shavings New node

34.1.6. Thorough review of Vendor Relationships Biggest targets of opportunities Purina Hay/straw and shaving suppliers Discounts and incentive programs used/not used

34.1.7. Evaluate individual product pricing margins

34.2. ****A/R Issues

34.2.1. Billing Protocal

34.2.2. Zito

34.2.3. Set process to collect O/S balances

34.2.4. John Deere plan

34.3. Quickbooks matter

34.3.1. Backup plan

34.3.2. Who has access

34.3.3. Integration w/ Bank

34.3.4. Begin process to integrate w/ future inventory system

34.4. ****COGS Issues/Sales not in alignment due to how we book them

34.4.1. quarterly inventory counts

34.4.2. monthly "plug" number and qtrly journal entry

34.5. Time Clock and personnel Matters

34.5.1. Cut down on overtime

34.6. Retail procedures and concerns for theft

34.6.1. customer access to back area of the store and trailers

34.6.2. monthly breakdown of individual items sold

35. Core priorities for 6-months

35.1. Analyze pricing/Increase margins/reduce COGS via relationships/programs w/ vendors

35.2. Implement policies and control A/R

35.3. Begin process to move property

35.4. Improve efficiencies

36. Performance Metrics

36.1. Receivable Agings

36.2. Sales/Payroll ratio

36.2.1. Over-time analysis

36.3. Gross Margin

36.4. Cash flow/Debt analysis

36.5. Inventory ratios

37. five silos of the business

37.1. Thoroughbreds

37.2. Standardbreds

37.3. Horseshow People

37.4. Walk In Business

37.5. Farms

38. Weekly Meetings

38.1. Billy

38.1.1. Receivables

38.1.2. Staffing Overtime Performance

38.1.3. Inventory

38.1.4. Customer acquisition

38.1.5. Increasing sales

38.1.6. Workchart

38.1.7. Slow-time plan

38.2. Liz

38.2.1. Receivables update Evaluation of her performance

38.2.2. Price changes/updates

38.2.3. Ratio analysis What are the reports we need to look at? Look at report for customer spend for each of the last three years

38.2.4. Office presence

39. John Deere Financial

39.1. Who is eligible?

39.2. Fees?

39.3. Ongoing analysis

39.4. How other Companies handle "core group" of customers

40. Dennis Items

40.1. Adding trailers for Darley and

40.2. Overtime issue

40.3. Pricing changes

40.4. Receivables

40.5. Bill p future

40.6. Winter work

40.7. Sales packages

40.8. Delivery planning

40.9. Customer evaluations. Not every customer is a good one

40.10. What are the prices Todd pays at different tracks

40.11. GPS for trucks

40.12. Average retail value of trucks that go out

40.13. Intermodal containers

40.14. John keep?

40.15. Other sources for hay and straw

40.16. Loading ramp

40.17. Talk to mike ingersoll

40.18. How are we planning with clients (ie pletcher, etc ready to move)

40.19. how are we doing inventory and cutting down on companies - Blue Seal

41. is everyone on chatter?

42. is everyone on chatter?