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INNOVATIVEIDEAS THAT
BREAK THE MOLD
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THE PANEL
• Moderator: Evan Hackel, CFEPresident, Ingage Consulting
• Panelists:– Corey DeNicola, CEO, Mainstream Fashions Franchising
– Geoff Goodman, President, Orange Leaf Frozen Yogurt
– Luke Stanton, COO, ProTradeNet (Dwyer Group)
– Eric Bernstein, President, ProSource Wholesale Floorcoverings
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QUESTIONS
THE CHALLENGEWhat is the challenge or issue that confronted your system?
THOUGHT PROCESSHow did your system think through the goal of solving the problem?
THE SOLUTIONWhat changes did you ultimately decide to implement? Why? How?
EVALUATIONWas the solution ultimately successful? Were your goals met?
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KEY TAKEAWAYS
Breaking the Mold by:
getting franchisees involved in
the solution
breaking through the
noise
not being afraid of going
back to the drawing board
expanding your vision
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Corey DeNicolaCEO, Mainstream Fashions Franchising
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THE CHALLENGE
TEAMWORK MENTORING COMMUNITY
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THOUGHT PROCESS
THE TEAMHOME OFFICE STAFF
• Franchise Support• Marketing• Operations
FRANCHISE ADVISORYCOUNCIL
IDEAS
Regional Groups
Networking Group by number of units
Mentoring Program
Networking GroupsBy sales volume
Monthly meetings with all franchisees
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THE SOLUTION:REGIONAL NETWORKING GROUPS
SET REGIONS ANDRECRUITED LEADERS
TRAINING FOR THE GROUP LEADERS
LAUNCHED AT THEANNUAL CONVENTION
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THE SOLUTION:REGIONAL NETWORKING GROUPS
Typical RNG meeting agenda:– Goal report (from goal set at their previous meeting)– Discussion topic– On the floor (one person shares problem, others brainstorm
solutions)– For next meeting:
• Agree on the discussion topic• Decide who will be “on the floor”• Set goal to achieve by next meeting
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EVALUATION
TEAMWORK MENTORING
COMMUNITY
SUCCESS
COMMUNICATION
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Geoff GoodmanPresident, Orange Leaf Frozen Yogurt
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THE CHALLENGE
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THOUGHT PROCESS
Internal Culture Definition
External Brand Communication
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THE SOLUTION
Live the Mission of “Being Remarkable”• Be Noticeably or conspicuously different,
worthy of notice or attention• Bring marketing to the front line operations• Activate the voice of the system
“Advertising is the tax you pay for being unremarkable.”
-Robert Stephens, The Geek Squad
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THE SOLUTION:REMARKABLE ENGAGEMENT
BREAKTHROUGH THE CLUTTER
“SHARE WORTHY”CONTENT
LEVERAGE TECHNOLOGY
AMPLIFY MESSAGE
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THE SOLUTION:ORANGE UNICORN “SPOKESTHINGIE”
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THE SOLUTION:INTERACTIVE AUGMENTED REALITY
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EVALUATION:ORANGE UNICORN AR APP UPDATE
• 9,764 visits to the Orange Unicorn page in one month
• 867 visits to the Orange Unicorn AR page
• Orange Unicorn has been downloaded 1,149 in 30 days
• Average time spent on Orange Unicorn AR app is 3:36
• 3,860 minutes of occupied time that Mom or Dad gets to take a time-out!
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PROJECT “FLYING ORANGE UNICORN”
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EVALUATION:PROJECT “FLYING ORANGE UNICORN”
• 398 Total Press Mentions
• 206,406,549 Total Reach
• $407,681.78 Total Publicity Value
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Luke StantonCOO, ProTradeNet
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THE CHALLENGE
PURCHASING DECENTRALIZED
VENDOR LISTS IN EXCEL NO UNIFIED BUYING RELATIONSHIPS
NO AGREEMENTS INEFFICIENT
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THOUGHT PROCESS
EXPERIMENT FAIL FORWARD IMPROVE
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THE SOLUTION: SYSTEMS AND PROCESSES
ONLINE PLATFORM STAFFING SYSTEMS AND PROCESSES
AUTOMATION OF REBATES
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EVALUATION
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EVALUATION:VENDORS ARE HAPPY
BETTER SPONSORSHIPS STRATEGIC ENGAGEMENT SALES GROWTH
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EVALUATION: FRANCHISEES ARE HAPPY
SAVINGS & REBATES TIME SAVINGS SINGLE SOURCE OF INFORMATION
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EVALUATION: FRANCHISOR &TRADING PARTNERS ARE HAPPY
PROFIT CENTER ADDS VALUE TO EXISTING & NEW FRANCHISEES, &
TRADING PARTNERS
NEW UNIT SALES ENCOURAGES LOYALTY
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Eric BernsteinPresident, ProSource Wholesale Floorcoverings
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THE CHALLENGE
• Established & unique
• 125,000 active trade pros
• Spend < 1% on marketing
• 6X year purchase cycle
• Low cost & high touch
• Relationships = $1.4M year
Our Model
We’re in a location you can’t find
and a business you’ve never seen
advertised…
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THE CHALLENGE
• The $26B Industry with 18,000 Independents
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THE CHALLENGE
• A moment of truthSYSTEM SALES
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THE CHALLENGE
Will the industry return us to…
Per unit sales of $3.5M?
Per unit profitability of 3.2%?
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THOUGHT PROCESS:THE REARVIEW MIRROR IN 2016
Stay the Course
• Industry < $18B
• Independents < 12,000
• Industry Growth Rate; 2.0%
Innovate; New Category
• Existing customers; 45% purchased
• New Customers; 32%
• Customer Annual Sales; +3.7X
Avg. SR Sales
$4.7M
+10% CAGR
Avg. SR Sales
$3.7M
+5% CAGR
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THE SOLUTION
Help ProSourceshowrooms increase
sales, profit and cash flow
Leverage current• SR floor space
• Trade-Pro customer base
• Sales staff
Projected Annual Sales• $700K - $1M
Projected Annual net profit• $66K - $120K
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THE SOLUTION:INVESTMENT
Franchisee
• $75,000; buildout &
display
• $55,000; annual staffing
• 800-1,200 Sq. Ft.
• 4 month buildout
Franchisor
• $2.0M dev., pilot & Op.
funding
• $2.8M Financing support
• Staffing Infrastructure
• Supplier Agreements
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THE SOLUTION:TURMOIL, ROADBLOCKS, CHALLENGES
Pilot Philosophy; System Sales, Profitability & Scalability
Franchise Agreement; BOD & Advisory Council
Selling Space; my lease is up for renewal
Risk Adversity; I’m making enough (or not enough) $$$
New vendors; you’re irritating our existing dealer network
Existing vendors; you’re removing what?
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THE SOLUTION
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THE SOLUTION
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EVALUATIONSystem Sales (in M)
$300
$350
$400
$450
$500
$550
$600
$650
FY2011 FY2012 FY2013 FY2014 FY2015 FY2016
$1,083,000
$812,000
$667,000
$593,000
$446,000
Year 5
Year 4
Year 3
Year 2
Year 1
Avg. SR Cabinet Sales
Flooring Sales Cabinet Sales
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KEY TAKEAWAYS
Breaking the Mold by:
getting franchisees involved in
the solution
breaking through the
noise
not being afraid of going
back to the drawing board
expanding your vision
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INNOVATIVEIDEAS THAT
BREAK THE MOLD