Ilmington Community Shop Limited Open Meeting Ilmington Village Hall 19.00 19 th November 2019
Purpose of Meeting & Agenda To inform future planning and putting our community enterprise on a sound footing for that future, to include: 1. Reviewing performance to date and potential vulnerabilities including a recent drop in shop sales. 2. How to secure a financially sustainable future. 3. How to raise funds for necessary / desirable shop and café improvements and to create a reserve for the future. 4. How to encourage volunteering 5. How to succession plan for the management committee given forthcoming resignations committee. 6. Review developments including Shop and Café Opening Hours / Shop and Café Staffing. 7. Open Forum.
Introduction Experiencing Real and Varied Challenges ‘ Professionalising ’ And Of Being ‘Corporate’
Financial Performance
Financial Performance: Shop Shop Sales 25,000 20,000 15,000 2016 /17 Actual 2017 /18 Actual 2018 /19 Actual 10,000 Forecast 5,000 -
Financial Performance: Cafe Cafe Sales 8,000 7,000 6,000 5,000 2016 /17 Actual 2017 /18 Actual 4,000 2018 /19 Actual Forecast 3,000 2,000 1,000 - Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Comparative Yearly Financial Performance Financial Year 2016/17 2017/18 2018/19 +/- Last Actual Actual Provisional Year Shop £208,947 £210,045 £209,367 -0.31% Cafe £39,807 £52,996 £60,140 +13.48% Total £248,754 £263,042 £269,507 +2.34%
Steps Taken to Date Improved Stock Control: E.G.: September 30 th 2019 (End of Year) Stock Take: Less Than 1% Variance between Records and Stock Take See following chart Managing Down Waste See following graphs.
Stock Management Monthly Stock Valuation October 2018 to September 2019 13000 12500 12000 11500 11000 10500 10000 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19
Wastage Wastage Comparison 600 500 400 300 200 100 November December January February March April May June July August September October 2018 2019
Discounting at 50% 400 300 200 100 November December January February March April May June July August September October 2018 2019
Steps Taken To Date 2 1. Review of shop pricing. 2. Review of café pricing and the café offer, to increase the margin on café sales. 3. More frequent and targeted promotions, events etc. 4. Developing our marketing and communications. A vibrant social media presence is helping this.
Is Ilmington Unusual? Community Shops: Profits / Losses As Reported in 2016, 2017 or 2018 (Source: FCA AR30 Returns from 227 Records) PROFIT £15,000+ 9 PROFIT £10,001 -£15,000 11 PROFIT £5,001 - £10,000 44 PROFIT £2,501 - £5,000 40 PROFIT £1,001 - £2,500 35 PROFIT £501 - £1,000 15 PROFIT £1 - £500 15 £0 LOSS -£1 - £500 8 LOSS -£501 - £1,000 5 LOSS -£1,001 - £2,500 17 LOSS -£2,510 - £5,000 13 LOSS -£5,001 - £10.000 10 LOSS -£10,000+ 5 0 5 10 15 20 25 30 35 40 45 50 Number of Shops
Community Shops: Major Concerns Over the Next 12 Months (Source: 2019 Plunkett Foundation Survey from 107 Responses) SUSTAINING / INCREASING VOLUNTEER COMMITMENT 72 SUSTAINING / IMPROVING PROFITABILITY 72 SUSTAINING / IMPROVING TURNOVER 67 INCREASING CUSTOM 61 IMPROVING MARKETING & COMMUNICATIONS 41 RISING OVERHEAD COSTS 37 ACHIEVING / SUSTAINING AN EFFECTIVE MANAMENT 36 COMMITTEE AFFORDING REPLACEMENT OF ESSENTIAL EQUIPMENT 24 AFFORDING PROPERTY REPAIRS / REFURBISHMENT 20 INSECURE PREMISES 9 NO VIEW EXPRESSED 8 0 10 20 30 40 50 60 70 80 Number of Shops
Questions?
Looking Forward Shop Survey: please respond and encourage others to do so. Survey form available from the shop and online at: http://www.ilmingtonshop.co.uk/ Important that: a. We achieve a good & therefore representative response ; and that b. You are all direct and tell us what you really think (ideally tell us who you are, but you can respond anonymously if you prefer). Return your response to the shop (there will be a special survey box) or hand to a member of the management committee or staff.
Encouraging People to Spend A Little More In addition to steps already taken: 1. Further develop marketing and promotions. 2. For example: emphasizing that if we achieve extra sales to the equivalent of 100 people purchasing an additional: a. Reasonably priced bottle of wine every 2 weeks; or b. A newspaper and loaf of bread every week then c. That would increase cash generation by £3,000 - £4,000 per year. 3. We will use shop survey findings to adjust product lines as appropriate.
Fund Raising / Share Offer / Donations Why? To create a reserve for the future to cope with ‘events’ and as a. a security measure: ideally [ambitiously?] targeting £20,000. b. To ensure that we can fund replacement equipment etc. as and when needed c. To fund essential repairs / improvements Priority b + c Target = approx. £10,000 (longer term need a further £6 - £8,000) Please note: the objective is also to ensure that over the next 2 – 3 years, shop and café profitability and associated activity and events improve cash generation to secure longer term sustainability.
Est. Cost Description Item / Status Funds raised and improvements to date Replace Outdoor Chairs and £2,100 + £500 Yes & Purchased Tables / Café Counter Chiller Items for the Future Fruit & Vegetable Chiller £4,500 Funds raised, but see below. Temperature Control in Shop Net £8,500 Modifications to manage all chiller heat impacts Update Office Computer etc. £2,045 System is aged Maintenance of café exterior £1,500 Est Extra Storage £1,500 Est Improve Car Park Accessibility £1750 - £3500 Roof repairs £1500- £4500 Total Without Shop £11,545 - Higher Figure Assumes long term Roof Repair Temperature Control £14,545 Total With Shop Temperature £20,045 - Higher Figure Assumes long term Roof Repair Control £23,045 Other Expenditure: general repairs & maintenance to building: £1,000 Est - Medium term priority affordable from general revenue
Fund Raising to Date Source Total Donations / Events £5,000 Grant Warwickshire County £600 Council Grant Calor £2,500 Grant Warwickshire County £1,000 Council Other e.g. hosting grant aided £400 visits to café & shop Total £9,500 Total Spend to Date £2,600 Available Balance £6,900
Potential Shop Chiller Changes
Potential Shop Chiller Changes
Potential Shop Chiller Changes
Volunteering: We Need Your Help We have sustained volunteer numbers, but: 1. Café custom has grown. 2. We have introduced safeguarding policies; so 3. We struggle to fill some shifts. We seek your views on to how to make volunteering more attractive and encourage more volunteers.
Volunteering: We Need Your Help Volunteering October 2018 to September 2019 160 140 120 100 80 60 40 20 0 0 10 20 30 40 50 60 Total Volunteers Volunteer Hours Number of Hours With 1 Volunteer Number of Hours No Volunteers #REF!
Management Committee Succession Planning We need: a. More Committee members or people willing to take on certain responsibilities in support to spread the load; and to b. Identify people and transfer responsibilities in managed way vis: i. Mark our Treasurer will stand down in early 2020: this is a substantial role. ii. Nicky will be standing down in early 2020: she leads for the committee on café matters and is café manager line manager. iii. Angie Dobson (former committee member) who leads and manages our communications, marketing, web site management and social media presence will stand down in early 2020. iv. I (Tim) will see through management committee changes, but will stand down in [considerably] less than a year v. We also need a lead for property maintenance and improvement and also volunteer liaison & recruitment. vi. There are many other requirements & activities which we worry are honoured in their absence and that need committee oversight / management .
The Role of the Management Committee a. What are Committee members required to do? b. Do I need qualifications? c. Does this mean I have to do regular shifts in the shop or cafe? d. How challenging is it? e. What are the legal or other responsibilities? f. Typically how much time is required?
Other Developments Shop and café opening hours. Staffing
Open Forum Opportunity for Attendees to Ask Questions / Offer Comment
Recommend
More recommend
