A Better Pricing Effort = Better Marketing

A Better Pricing Effort = Better Marketing

by Sid Raisch

Part 4 of a Series with the Theme “A Better _______ = Better Marketing”
   [Go to Part 5 "A Better Recession Effort = Better Marketing" - HERE]

Marketing is an important part of the job of everyone in a company. It’s everything a company and everyone in it does within, outside, around, and beyond. In this series of articles, we’ll be discussing how different views of marketing make a huge difference in choosing, taking, and owning our position now and in the future.

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Plant Talk

Plant Talk

by Danny Summers

We can take this conversation in so many directions. A very important one is how attached countless new "Plant Parents" are to their new plant-family additions. It doesn't take long when browsing social platforms to see this in full display. In fact, the photo above (minus my title "Plant Talk" added) was found on a blogger's page with the title "DIY - Speech Bubbles for Your Plants" as she shows you how to make your own conversational signs. She related it to having reminders of how a plant needs certain care in order to thrive. Doing a simple search like "Plant Talk" will quickly yield a huge number of discussions like "How to Talk to Your Plants" or even "Is it Normal to Talk to your Pets and Plants?"

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History of the P&L Study - Part 4

History of the P&L Study - Part 4

by Tim Quebedeaux

Last time we finished talking about Average Inventory and how it is key to inventory management which is graded by two KPI’s: Turns and GMROIIs.  Historically The Group has not done well with these two metrics.


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History of the P&L Study - Part 3

History of the P&L Study - Part 3

by Tim Quebedeaux

Last time we left off with the premise that we can avoid the wearing of the red if we manage our inventory better. Inventory management can be “graded” by two important KPI’s: Turns and GMROII (Gross Margin Return on Inventory Management). Those two KPI’s are driven by three metrics, COGS, Margin Dollars, and Average Inventory. Average Inventory is a key component when analyzing these KPI’s.

Let’s start with reviewing what happened with Cost of Goods Sold and how that is related to Margin.

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See What a PLANT Can Do

See What a PLANT Can Do

by Danny Summers

The idea of this message came to me when I remembered Darren Abbott (Hallmark) sharing details of their One Million Card giveaway. He explained it began on March 27, 2020, as many of their Gold Crown Stores were closing due to COVID shutdowns and they were getting a large number of requests from people needing ways to connect to loved ones. The program began with the idea of offering 1 million cards to their loyalty members, sent free by mail. The initial announcement said, "Hallmark gives people a way to connect through acts of caring and support during uncertain times." Darren described how their team was able to gather enough cards at their distribution centers (that were almost shuttered as well) and within a few days, they had the program pulled together.

To say the offer was well-received is an understatement for only seven days later Darren said their President and CEO came to him and said, "I don't want you to stop, let's keep going." So, with that Hallmark announced it was adding an additional million cards to the offer. Each responding Hallmark Rewards member received a bundle of 3 cards with a cover page that said the following...

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Commitment

Commitment!

by Danny Summers

Commitment... It's a word that depicts The Garden Center Group experience in a number of ways. At the foundation of The Group, every Center joins with a commitment to sharing at some level. In the beginning, there may be some hesitation to jump right in but as they see others sharing they quickly see the benefits of having such an open-sharing platform. Certainly, the level of sincere helpful sharing that exists in The Group is a unique experience.

While there are a number of ways a commitment to sharing is exemplified in The Group, one of the strongest levels of commitment is sharing through our Weekly Department Review (WDR). And the Centers that receive our 100% Club Awards annually have made a firm commitment to share. This year, there are 115 Centers participating in the WDR Program, and 58 of these centers reported EVERY WEEK and received our 100% Club Award. Now that is Commitment!

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History of the P&L Study - Part 2

History of the P&L Study - Part 2

by Tim Quebedeaux

Last time we left off, seeing that it took 5 years to go from 0.7% profitability to 5.3%, high achiever status, while in one year we went from 5.3% to an amazing 14.9%.  Let’s dig into the three KPI’s in the Simple Income Statement to try to gain clarity on how we accomplished both feats.

The smallest piece of the pie is Operating Expenses.  These expenses can be described as the other expenses section of the P&L Statement.  Any expenses that are spent on things OTHER than people (W&WB) and product (COGS).  This section is the lowest as a percentage of revenues, but the largest listing of accounts.  Let’s look at the historical trend of our target centers in the P&L Study.


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The Strength of Group Sharing

The Strength of Group Sharing

By Danny Summers

When often faced with the opportunity of describing "The Group Experience" for someone who has not been in The Group, I feel it is a challenging task. Of course, I hit the key points of all our programs as well as the different ways our Group Centers share information peer-to-peer and how they have access to and interact with our Group Service Providers. But I feel it is still only a small glimpse into The Group Experience that I just wind up urging them to join and jump into the process as much as they can to see for themself what it is like.

And then as we get closer to The Fall Event, if I can get them to attend, that is the absolute best exposure. As a team, we have often said, "If we can just get them to The Fall Event, we know what will happen. They will be excited and ready to be a part of what they experience."

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History of the P&L Study - Part 1

History of the P&L Study - Part 1

by Tim Quebedeaux... and a little help from Steve Bailey!

The Annual Profit & Loss Study has been an industry exclusive since 2004 and is the most comprehensive P&L study of its kind.  It started with 40 centers reporting in 2004 and has grown to a high of 78 centers in 2018 and 2021.  The Study made a big step in 2006 when it started measuring Average Inventory, allowing us to measure Turns and Gross Margin Return On Inventory Investment (GMROII).  After only 9 centers started reporting the new metrics in 2006, it quickly gained in popularity as it ramped up to 40 centers in 2009 and increased to 60 by 2021!

 

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A Heart-Felt Thank You!

A Heart-Felt Thank You!

by Danny Summers

The Fall Event for 2022 is over and this is the perfect time to say THANK YOU. And we have so many people to say THANK YOU to... Every Group Center that participated, all of our Partners for Success and Sponsors, and of course all of our Group Service Providers. I also want to express our sincere appreciation to our Guest Speaker, Darren Abbott of Hallmark Cards whose presentation was described as" incredible." I will be sharing more details about Darren's message in the coming weeks.

Another Group Center said, "The way you were able to tie each presentation together made it feel like one fluid and consistent message to The Group." I responded with, "Somehow it all just comes together. I would like to be able to say it was all planned out moment by moment… but it wasn’t 100%. It is also amazing how our team works independently and somehow thinks concurrently to converge at the same point. The other thing that really amazes me is how our Group discussions steer our focus and attention in the same direction."

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What's Your SuperPower?

What's Your SuperPower?

by Danny Summers

A SuperPower is a unique force or gift – something that you’re especially good at or something you are recognized for. Just like Superman (or woman), we all have our SuperPowers (or strengths).

Recognizing each person on your team's SuperPowers can help unify and build upon these strengths. This also can help spread those talents across the entire organization. You already know who is "Super" in certain areas. Recognizing these SuperPowers will encourage everyone to learn and grow.

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Plants R Us!

Plants R Us!

by Danny Summers

Not even unpacked yet and they have a plant in the room!

Does this title seem familiar? I first related it to Toys R Us. It came to mind when I was working on a presentation to share at Farwest 2022 a few weeks ago. I was looking for a graphic that represented new first-time young home buyers. Just the weekend before we had been helping our great nephew, Zac, and his wife, paint at their new home they recently purchased. They had not yet moved any furniture in but just inside the front door, next to a window, they already had a new tropical plant sitting there.

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A Better Traffic Flow = Better Marketing

A Better Traffic Flow = Better Marketing

by Sid Raisch

Part 3 of a Series with the Theme “A Better _______ = Better Marketing”
   [Go to Part 4 - A Better Pricing Effort = Better Marketing" - HERE]

Marketing is an important part of the job of everyone in a company. It’s everything a company and everyone in it does within, outside, around, and beyond. In this series of articles we’ll be discussing how different views of marketing make a huge difference in choosing, taking, and owning our position now and in the future.

Read More

More... What's New!

More... What's New!

by Danny Summers

This past week the Farwest 2022 Show was held in Portland and we had a great group of Retail Judges working the show on the first day to nominate plants and products for the Retailers' Choice Awards™. Even if you were not with us, you can see all of the "what's new" that received the awards... right here!

First, let me say it was great to be in Portland and to experience the Farwest 2022. The city looked great and since my last visit, a new Hyatt has been added directly across the street from the Oregon Convention Center. That coupled with the Max Lite-Rail system directly between the two made it was super easy to navigate to and from Portland International Airport (PDX). The show looked fantastic and all of the wonderful products we expect from the Northwest region were on full display!



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Continual Learning

Continual Learning

by Danny Summers

Don't you just love this photo? I do. Our wish for everyone should be to have a real passion for learning throughout life. In many ways, I believe it may be one of the very best ways to stay young. Many of us were fortunate enough to know Ernest Wertheim and even in his 90's he was asking many questions and had a passion for learning and encouraged everyone around him to do the same. He is an example of why we should have a passion for learning!

The idea of this message came to me as I was thinking back on where we have been the past two and a half years. We have certainly learned a lot in that period of time.

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A Consistent Piece of the Pie

A Consistent Piece of the Pie

by Tim Quebedeaux

Every week on average over 100 garden centers send in their Weekly Department Review (WDR) form. Those reports are compiled and a summary is produced and sent back out to those who reported. That summary gives the Group a quick snapshot of where sales are going for the year.

We not only get what happened by category for that week, but we also get where the group is annually through Year-to-Date revenues, transaction counts, and average sale values compared to last year at the same point. Along with other metrics such as labor to sales and Inventory at retail to sales, we get a good sense of where we are compared to last year any given week.

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Permanent Decisions Made Over Temporary Problems

Permanent Decisions Made Over Temporary Problems

by John Kennedy

Years ago, before The Garden Center Group Fall Event was in Nashville, I took a flight down to see my favorite band—Counting Crows. They were playing at The Ryman Auditorium,  and I had never seen a show there before. Toad the Wet Sprocket opened for them and it was a delightful evening and amazing venue. I wanted to make it an extra special experience over all, so I booked a room at the famous Hermitage Hotel (I felt I had earned the gift to myself with nearly 15 years on the road) and it became the first official check on my newly scribed “Bucket List.”   Seeing U2 in concert was next, and I am happy to report I earned another Bucket List Check Mark the following year!

As I walked back from the show with my newly purchased merch-- a Counting Crows Tee Shirt with “I am Color Blind” printed on it--- I approached the hotel, and the doorman kindly opened it, smiled and said: “Oh, are they in town?”

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What if...

What If…

By Danny Summers

What If... someday you are busy with your normal routine and... something really magical happens.

Sometimes new ideas that are real innovations come when you least expect them. And maybe even when you're not really even paying attention. Can you imagine having such a new idea that is so innovative that it creates a whole new business or product line? That is exactly what this story is about. And it is TRUE.

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Beyond the Boundaries Thinking

Beyond the Boundaries Thinking

by Danny Summers

Have you seen all of The Fall Event Session Titles and Descriptions?
If not be sure to click on the program image below - only after you read this complete GROUPtalk!

If you have seen them you will quickly recognize my ideas here. If you have not, let me set the stage for what you will experience and the opportunities ahead.

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A Better Merchandise Selection = Better Marketing

A Better Merchandise Selection = Better Marketing

by Sid Raisch

Part 2 of a Series with the Theme “A Better _______ = Better Marketing”
  [Go to Part 3 "A Better Traffic Flow = Better Marketing - HERE]


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