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Group One: Business Analysis: That Other Thrift Store

Group Members: Scott Glenna Lauren Peterson Brady Burton. Group One: Business Analysis: That Other Thrift Store. The Store: That Other Thrift Store. 4171 Coon Rapids Blvd NW, Minneapolis, MN 55433. Introduction: That Other Thrift Store :.

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Group One: Business Analysis: That Other Thrift Store

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  1. Group Members: Scott Glenna Lauren Peterson Brady Burton Group One: Business Analysis:That Other Thrift Store

  2. The Store: That Other Thrift Store 4171 Coon Rapids Blvd NW, Minneapolis, MN 55433

  3. Introduction:That Other Thrift Store: That Other Thrift Store is a family operated thrift outlet. The owners John and Janet Voss opened the shop in 2012. As a thrift shop they buy and sell merchandise. The daily operations for receiving merchandise is a little different then a normal store. In a normal setting you would set up distribution chains to receive your inventory to sell. However in a thrift the supplies are acquired in a sporadic manner. This is because the means to receive supplies are through donations. The finances are handled by Janet who uses an excel sheet to update and keep track of daily balances of the store's sales and the register till. Also employed are their two sons Marcus and Mitchell who handle sales.

  4. Observation of Sales • When a customer makes a purchase the sales representative helping them has to tally up their purchase by looking at each items sticker price and entering them manually into the register. • After the customer is rung up the products stickers are removed and placed into a book/binder where it is logged by day sales.

  5. Staff Interview: • “We really don’t have any way or order in which we categorize or manage our wares.” • “Janet makes a daily entry and checks our balances and inserts it on our excel spread sheet.” • “We currently have a Facebook page and a Twitter account where we offer sales and promotions.”

  6. Our Recommendations: • Make a Microsoft Access database to log products and sales for easier management of resources. • Make a traditional website to properly convey a presence on the internet. Which could develop more donations. • Make an E-Commerce site.

  7. Access Database Pros: • Keeps track of supplies • Keeps Track of detailed sales and suppliers Cons: • Confusing if you don’t know how to run the program • Expensive one time cost Estimated Time: 12-20 hours to fully register products and create database Estimated Cost: $250 (+ Labor Costs + Monthly Charge for Microsoft Office)

  8. Traditional Website Pros: • Sell/show off big ticket items • Contact us about donations page • Gives a professional feel to business Cons: • Maintenance/domain costs Estimated Time: 2-3 hours (Set up); +1 Hour upkeep (a week) Estimated Cost: $15-27 a year (GoDaddy); +Labor

  9. E-Commerce Site Pros: • Combines both the database and the traditional website • Easy to navigate • Can generate sales • Professional looking Cons: • Monthly expense • Requires dedicated time to keep updated Estimated Time: 15-24 hours (Combines both options) +Labor Estimated Cost: $35 a month (BigCommerce) + Labor

  10. Our Final Recommendation:Make an E-Commerce Site • Low monthly cost • Minimal upkeep costs • Legitimate internet presence • Database integrated • Easy to build tools to create site • Mobile phone accessibility

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