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Published byOswin Morton Modified over 9 years ago
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Terri’s Treasures Furniture Flea Market UNIQUE, ANTIQUE & FUN
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Grand Opening March 1 st, 2013 Owner – Terri Parris – 970-576-4453 Location – 216 1 st Street, Ault, Colorado, 80610 Hours of Operation – 7 days a week, 10:00 am to 6:00 pm Modern, Vintage, Antique & Unique Furniture Refurbishing, Painting & Decorating services offered Vendor display and storage space available
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Threat of New Entrants is High Supplier Power is High Rivalry among Existing Competitors is Low Buyer Power is High Threat of Substitutes is Moderate Porter’s 5 Forces Analysis for the Flea Market Market
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Porter’s 5 Force Analysis of the Flea Market Market The threat of new entrants is high for the following reasons: Market entry costs less than $5000 Real estate is reasonable and available First-mover advantage - affordable, daily furniture The threat of substitution is moderate for the following reasons: Competition for market share of sales – limited customer base Many alternative sources of furniture Offer unique furniture – CRM – Know what competitors have & customers want Buyer Power is high because: Many choices of product - can buy low, refurbish, sell high Offer special services – refurbishing, painting, hauling, trading, meeting place First-mover advantage in offering customizing and delivery services Supplier Power is high because: Few choices for the raw or customized furniture and special services Vendors need space and raw furniture to purchase Rivalry among competitors is low because: Purposely did not duplicate specific market provided by competitors Competition is co-operative – serve a greater market together
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Customer Relations Management provided by Podio Free Cloud Based CRM with project management Get rid of the user limit and pay just $9/employee per month. Work with unlimited external contractors, clients or partners for free Pay-as-you-go or get a 20% discount with a fixed annual pla Link to Podio CRM WebsitePodio CRM Website Free Plan with 5 free users included Upgrade to Podio Premium for only $9 per month More users More control
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Business Processes implanted/supported by CRM Customer Service - Know the needs and desires of vendors and customers Potential Sales – leads from customers and vendors – push/pull Communication – email, share ideas and progress Project Management – creation of sellable furniture Creative Design – planning for future projects Record keeping of Expenses
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Specific Features of CRM to be used Leads & Clients – customer information – push & pull sales Projects – refurbishing and painting projects for resale & customers Inspiration – for picture storage of projects, ideas and requests Meetings – limited usage – calendar, reminders, errands, lists Expenses – track startup expenses then fixed & variable expenses Manage member feature – coordinate inventory needs and supply with other store owners ( a real plus in an “antique row” distrist)
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Reason Podio is Better than the rest Advantages for a Small Business Operation: No expense – It is a cloud based freeware program All screens and reports are customizable The software is very user friendly Fits the needs of a small, customer sales and service business
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Terri’s Treasures Providing affordable Unique, Antique and Fun Furniture Providing affordable Furniture refurbishing services Meeting Customer needs and Sales Management with CRM
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