Limited Open Meeting Ilmington Village Hall 19.00 19 th November - - PowerPoint PPT Presentation

Ilmington Community Shop Limited Open Meeting

Ilmington Village Hall 19.00 19th 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

• 5,000

10,000 15,000 20,000 25,000

Shop Sales

2016 /17 Actual 2017 /18 Actual 2018 /19 Actual Forecast

Financial Performance: Cafe

• 1,000

2,000 3,000 4,000 5,000 6,000 7,000 8,000 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

Cafe Sales

2016 /17 Actual 2017 /18 Actual 2018 /19 Actual Forecast

Comparative Yearly Financial Performance

Financial Year

2016/17 Actual 2017/18 Actual 2018/19 Provisional +/- Last 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%

Improved Stock Control:

E.G.: September 30th 2019 (End of Year) Stock Take: Less Than 1% Variance between Records and Stock Take See following chart

Managing Down Waste

See following graphs.

Steps Taken to Date

Stock Management

10000 10500 11000 11500 12000 12500 13000 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19

Monthly Stock Valuation October 2018 to September 2019

Wastage

September August July June May April March February January December November

Wastage Comparison

October

2018 2019

600 500 400 300 200 100

Discounting at 50%

September August July June May April March February January December November

2018 2019

October

400 300 200 100

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?

5 10 13 17 5 8 15 15 35 40 44 11 9 5 10 15 20 25 30 35 40 45 50 LOSS -£10,000+ LOSS -£5,001 - £10.000 LOSS -£2,510 - £5,000 LOSS -£1,001 - £2,500 LOSS -£501 - £1,000 LOSS -£1 - £500 £0 PROFIT £1 - £500 PROFIT £501 - £1,000 PROFIT £1,001 - £2,500 PROFIT £2,501 - £5,000 PROFIT £5,001 - £10,000 PROFIT £10,001 -£15,000 PROFIT £15,000+

Community Shops: Profits / Losses As Reported in 2016, 2017

• r 2018

(Source: FCA AR30 Returns from 227 Records) Number of Shops

8 9 20 24 36 37 41 61 67 72 72 10 20 30 40 50 60 70 80 NO VIEW EXPRESSED INSECURE PREMISES AFFORDING PROPERTY REPAIRS / REFURBISHMENT AFFORDING REPLACEMENT OF ESSENTIAL EQUIPMENT ACHIEVING / SUSTAINING AN EFFECTIVE MANAMENT COMMITTEE RISING OVERHEAD COSTS IMPROVING MARKETING & COMMUNICATIONS INCREASING CUSTOM SUSTAINING / IMPROVING TURNOVER SUSTAINING / IMPROVING PROFITABILITY SUSTAINING / INCREASING VOLUNTEER COMMITMENT

Community Shops: Major Concerns Over the Next 12 Months

(Source: 2019 Plunkett Foundation Survey from 107 Responses)

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?

a. To create a reserve for the future to cope with ‘events’ and as 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.

Description

• Est. Cost

Item / Status Funds raised and improvements to date

Replace Outdoor Chairs and Tables / Café Counter Chiller £2,100 + £500 Yes & Purchased

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 Temperature Control £11,545 - £14,545 Higher Figure Assumes long term Roof Repair Total With Shop Temperature Control £20,045 - £23,045 Higher Figure Assumes long term Roof Repair

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 Council £600 Grant Calor £2,500 Grant Warwickshire County Council £1,000 Other e.g. hosting grant aided visits to café & shop £400 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

20 40 60 80 100 120 140 160 10 20 30 40 50 60

Volunteering October 2018 to September 2019

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