Thoro Bred Feed Sale Acquisition

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

1. balanced scorecard

2. peak season planning and strategy

3. Purchase Documents

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

3.2. Due to Fasig payment plan

3.3. Working capital

3.4. other financial debits and credits to Fasig

4. Locked down value of Fixed Assets

5. Lindsey's friend

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

5.2. Field Technology (Ipads, etc.)

5.3. Credit card phones in the field

6. Signover on July 1 Actions

6.1. Asset value

6.2. Inventory Value

6.3. New WPT LLC

6.4. Purchase Agreement

6.5. Operating Agreement

7. Purchase Agreement

7.1. Develop a new LLC for WPT to own

7.2. 4 year payment terms

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

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

8. Management/Company Structure

8.1. COO Role?

8.2. New business Development

8.2.1. Increase sales

8.2.2. fire un-wanted clients

8.3. Field operations

8.4. Finance and accounting

8.5. administrative

8.6. What to do during off season

8.6.1. Snow plowing

8.6.2. Trucking service

8.6.3. Unemployment Insurance

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

9. Movement of Store

9.1. Other Site(s)

9.1.1. Lease of existing tenants

9.1.2. reconfiguration of building

9.1.3. office space

9.1.4. Lease details

9.1.5. Permits needed?

9.1.6. Movement plan/timeline

9.1.7. Use of Mike Ingersoll

9.1.8. Use of Sonny Bonacio

9.1.9. Use of Purina consulting

10. Outside Consulting

10.1. Brumfield

10.2. Purina

10.2.1. Tour other feed store sites on the east coast

10.3. Florida expansion

10.4. Lee Hall and the florida guy

10.4.1. look at Lville store going out of business

11. Items of interest

11.1. Look at every line of the P/L

11.2. Look at insurance

11.3. Look at Telephone charges

11.4. Credit Card Costs

11.5. Deal with Gas Stations for Fuel

11.6. Deal with Garage for repairs

11.7. Look at Meidcal Insurance and 401K

11.8. Headcount?/Overtime

11.9. All existing Relationships

11.10. Vendor Relationships/discounts

11.11. price list given to the workers

11.12. give workers a spec sheet to help educate customers

11.13. Map with coverage detail and customer location

11.14. Shouldn't we be talking to triple star

12. How Do We Drive Revenue?

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

12.2. What is our new buseinss Methodolody

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

12.4. Our plan for a/r control

12.5. Get Kentucky Guys!!!

12.6. Who is charge of Sales

12.7. Parking Revenue during the meet

12.8. Sell Supplements and wormers/barn supplies

12.9. Share a salesperson with Purina

12.10. golf cart for side items during meet

12.11. 43% of our business is at the tb track. needs to decrease

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

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

13. Inventory actions

13.1. count on a quarterly basis

13.2. count/inspect PP&E October/April

14. Controller Items

14.1. Look at Bringing on Controller

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

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

14.1.3. Look at Quickbooks Issues

14.1.4. Processes for efficiency improvements

14.1.5. Job Description

14.1.6. Position Search

14.1.7. How to deal with Inventory

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

14.1.9. Order taking/Processing

14.1.10. Technology Issues

14.1.11. Implement integrated inventory system

15. Operating Agreement

15.1. monthly management fee

15.2. Line of Credit from FT

15.3. Co-management issues

16. Fasig Issues

16.1. Have them keep funds in company

16.2. ability to provide working capital

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

17.1. ***Pricing Matters

17.1.1. Focus on Thoroughbred Silo Margin

17.1.2. What deals with what trainers?

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

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

17.1.5. 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

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

17.1.7. Evaluate individual product pricing margins

17.2. ****A/R Issues

17.2.1. Billing Protocal

17.2.2. Zito

17.2.3. Set process to collect O/S balances

17.2.4. John Deere plan

17.3. Quickbooks matter

17.3.1. Backup plan

17.3.2. Who has access

17.3.3. Integration w/ Bank

17.3.4. Begin process to integrate w/ future inventory system

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

17.4.1. quarterly inventory counts

17.4.2. monthly "plug" number and qtrly journal entry

17.5. Time Clock and personnel Matters

17.5.1. Cut down on overtime

17.6. Retail procedures and concerns for theft

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

17.6.2. monthly breakdown of individual items sold

18. Personnel Matters

18.1. Time Clock

18.2. Org chart

18.3. Job Descriptions

18.4. Vacation/Sick Days

18.5. Review Health and 401k to Fasig Matters

18.6. Employee Manual

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

18.8. Salary Issues

18.8.1. Salary vs. hourly

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

18.10. Employee development

18.11. Vendor sponsor conventions

18.12. Billy M. pay increase

18.13. Look at new case register

18.14. Get golf cart for order takers

18.15. can WPT get offices at Fasig?

18.16. Balanced Scorecard

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

19. Accounts Receivable

19.1. Strategy for Contoling A/R

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

19.3. Increase use of CCs

19.4. cutting off customers

19.5. implementing payment plans

19.6. utilizing collections

19.7. Fire Unwanted Clients

19.8. Recording allowance on monthly basis

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

20. Why Are We Doing This?

20.1. Within racing industry

20.2. Partnership w/ compatible/well capitalized Company

20.3. Incredible upside through technology and improved protocals

20.4. Develop into a consistent revenue stream for WPT

21. Core priorities for 6-months

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

21.2. Implement policies and control A/R

21.3. Begin process to move property

21.4. Improve efficiencies

22. Performance Metrics

22.1. Receivable Agings

22.2. Sales/Payroll ratio

22.2.1. Over-time analysis

22.3. Gross Margin

22.4. Cash flow/Debt analysis

22.5. Inventory ratios

23. five silos of the business

23.1. Thoroughbreds

23.2. Standardbreds

23.3. Horseshow People

23.4. Walk In Business

23.5. Farms

24. Technology

24.1. Use of Epicor for Admin/Financial management

24.2. Create email addresses for team members

24.3. Create Facebook account

24.4. Update website

24.4.1. Use Isaac at FT

24.5. Build client email listing

24.6. iphones and ipad for each worker

24.7. Equipment for warehouse

24.7.1. Forklift (renting?)

24.7.2. "Gator" for taking orders

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

25. General Questions

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

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

25.3. use return envelopes

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

25.5. Are the trailers secure?

25.5.1. New trailers

25.6. Who are we giving to collections?

25.6.1. Test

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

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

25.9. Who are good candidates to run the business

25.10. Did we meet with Tom Quinn at Adirondack

25.11. Should we just get people off rye straw

25.12. Should we sell Pete moss

25.13. New Topic

26. Weekly duties

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

27. Education/Employee Development

27.1. Purina Sponsored Events

27.2. Customer Service

27.3. Product Knowledge

27.4. Company Meetings

27.5. Incentive Plans

27.6. Employee evaluations

27.7. do a benefit summary on a quarterly basis

28. PR and Promotion

28.1. Brand incentive plans

28.2. Purina assistance

28.3. Utilizing templates

28.4. Email acquisition

28.5. Local media coverage

28.6. Local sponsorships/charity events

28.7. Joint ventures

28.8. Social media marketing plan

29. Vendor Relationships

29.1. Develop better relationships

29.2. Explore additional relationships

29.3. Leverage Ruth and Rusty relationship

29.4. Leverage Larry Drennan relationship

29.5. Blue Seal and Nutrena reps

29.6. Rythem of Vendor Deliveries

29.7. Reorder Points

30. Weekly Meetings

30.1. Billy

30.1.1. Receivables

30.1.2. Staffing Overtime Performance

30.1.3. Inventory

30.1.4. Customer acquisition

30.1.5. Increasing sales

30.1.6. Workchart

30.1.7. Slow-time plan

30.2. Liz

30.2.1. Receivables update Evaluation of her performance

30.2.2. Price changes/updates

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

30.2.4. Office presence

31. John Deere Financial

31.1. Who is eligible?

31.2. Fees?

31.3. Ongoing analysis

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

32. Transition from Bill Pitney

32.1. Vendor list

32.2. Ordering protocol

32.3. Pricing issues

32.4. Inventory re-order points

32.5. Staffing

32.6. ensurance that he steps away from main store

33. Efficiency Issues

33.1. Look at Florida guy

33.2. Look at Lee Hall stuff

33.3. Longer Truck Beds

33.4. Use staging area for Station Lane

33.5. Day off like Hallway Feeds

33.6. use of rail station

33.6.1. sell excess feed to competitors

33.6.2. store feed in bowl

33.7. get interns from the state schools

34. Dennis Items

34.1. Adding trailers for Darley and

34.2. Overtime issue

34.3. Pricing changes

34.4. Receivables

34.5. Bill p future

34.6. Winter work

34.7. Sales packages

34.8. Delivery planning

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

34.10. What are the prices Todd pays at different tracks

34.11. GPS for trucks

34.12. Average retail value of trucks that go out

34.13. Intermodal containers

34.14. John keep?

34.15. Other sources for hay and straw

34.16. Loading ramp

34.17. Talk to mike ingersoll

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

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

35. Station Lane

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

35.2. move hay and straw ops to East Avenue

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

36. is everyone on chatter?

37. is everyone on chatter?

38. Customer Delivery Issues

38.1. Min. Order

38.2. Frequency

38.3. Optimizing Routes

38.4. Staffing

38.4.1. Winter Time adjustments

38.5. Add on Sales

38.5.1. Incentives for selling more

38.6. Possible tack/item truck during the meet

38.7. Use of Drop Trailers where possible

39. Order Taking

39.1. Better Process

39.2. use of Ipad

39.3. use of golf cart/gator

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

40. Warehouse Operations

40.1. Better process to stage

40.2. Receipt and deliveries of items

40.3. Hay Grab

40.3.1. Use of smaller trailers vs. largers ones

40.4. Longer Trucks

40.5. Possible Moffett

40.6. Inventory control items

41. Equipment Issues

41.1. What is the maintenance Plan for each?

41.2. Decals and phone numbers on truck

41.3. What new equipment do we need?

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

42.1. What feeds appear similar

42.2. What items do we sell very few of?