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eXtensionEntrepreneurs & Their
Communitieswww.extension.org/entrepreneurship
Mary Peabody, UVM Extension
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Housekeeping Details
• Sharing your email address
• Webinar evaluation at
http://tinyurl.com/yeblabu
• Site orientation
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eXtension Entrepreneurs & Their Communities
Identifying Assets and Opportunities in Your Community
Bill Pinkovitz
December 10, 2009
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Using secondary data to learn more about:
Your Community
Your Business
Your Competitors
In order to make better informed decisions about your community/business
TODAY
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HOW WELL DO YOU KNOWCustomers, Potential Customers, Visitors, Potential Visitors,
Residents, New Residents, Workers, Labor Force, Commuters, Congregation,
Students, Constituents….
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It ain’t what you
don’t know that gets
you into trouble.
It’s what you know
for sure that just
ain’t so.”
Mark Twain
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I’ve lived here
all my life and I
know this town
and what it
needs
We just moved here from
the Cities and we know just
what this town needs
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Jackson County, WI
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NOTHING CHANGES AROUND HERE
In 1900, the population of
Jackson County,
Wisconsin was 17,466.
By 2008, the population
had grown to 19,900
(14%)
During the same period,
Wisconsin’s population
almost tripled
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Between 2010 and 2030, the
population of Jackson
County is projected to grow
faster than the state’s
population. (14.% vs 11.0%)
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http://www.census.gov
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NOTHING CHANGES AROUND HERE
A net of only 584 people
migrated into Jackson
County between 2000 and
2005.
http://enterprise.star-telegram.com/ARCIms/Maps/clt/2007/irsmig.asp
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NOTHING CHANGES AROUND HERE
However, that includes 4,477
people who moved into the
county and 3,893 people who
moved out of the county
between 2000 and 2005.
http://enterprise.star-telegram.com/ARCIms/Maps/clt/2007/irsmig.asp
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In 2006, there were 9,749 jobs in Jackson County
49.2 percent of all the jobs in Jackson County were filled by non-county residents
http://lehd.did.census.gov/led/
NOTHING CHANGES AROUND HERE
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9,299 Jackson County residents had jobs in 2006
46.8 percent of those jobs were outside of the county
http://lehd.did.census.gov/led/
NOTHING CHANGES AROUND HERE
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http://lehd.did.census.gov/led/
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In 2007,
Jackson County residents earned $93.0 million working outside the county
Non-county residents earned $65.4 million working in Jackson County
NOTHING CHANGES AROUND HERE
http://bea.gov/regional/reis/
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http://bea.gov/regional/reis/default.cfm?selTable=CA91§ion=2
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In 2000, 83.9 percent of the women with children under the age of 18 were in the workforce in Jackson County.
In 79.4 percent of the Jackson County families consisting of two parents and at least one child under 18 years old, both parents worked in 2000.
NOTHING CHANGES AROUND HERE
http://factfinder.census.gov
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True or False
There are more
married couple
households with
children than single
person households in
Jackson County, WI.
NOTHING CHANGES AROUND HERE
http://factfinder.census.gov
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NOTHING CHANGES AROUND HERE
http://factfinder.census.gov
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NOTHING CHANGES AROUND HERE
http://www.wowonline.org/ourprograms/fess/sss.asp
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SOWHAT?How well do you know your Customers, Potential Customers, Visitors, Potential
Visitors, Residents, New Residents, Workers, Labor Force, Commuters,
Congregation, Students, Constituents….
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SO WHAT?
• Half the employed residents work out of the county
• Half the local employees live outside the county
• Residents earn $93 million outside the county
• One in four didn’t live in the county five years ago
• One in five residents moved out of the county in
the last five years
• Both parents work in 80% of the families with two
parents and a child
• Single person households comprise ¼ of all
households
• It takes $29,000 per year to support a family of 4
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He uses statistics as a
drunken man uses
lamp-posts
for support rather than
illumination
Andrew Lang (1844-1912)
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WHAT ABOUT ENTREPRENEURSHIP?
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Estimating Sales:
• Business Capacity
• Industry Averages
• Break Even
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http://www.uwex.edu/ces/cced/entrepreneurs/ResoucesforEntrepreneurs.cfm
Al’s Meat Market
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Secondary Market ResearchNeed to Stay Optimistic
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SECONDARY MARKET RESEARCHTHE OPTIMIST
With all this horse manure, there has to be a
pony…..somewhere
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SO WHAT?
According to Dun & Bradstreet
95 percent of all business failures a result of:
• Market Failure
Lack of an adequate market
Inability to capture the market
Inability to adapt to changes in the
market
• Management Failure
Inability of management to mangage
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If the facts don't
fit the theory,
change the facts.
- Albert Einstein
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BIG BOXES AND OTHER CARNIVORES
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Largest Toy Retailer?
a. Toys R Us
b. eBay
c. Wal-Mart
d. KB Toys
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Largest Jewelry Retailer
a. Zales
b. Kay
c. Wal-Mart
d. HSN
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Largest Furniture Retailer
a. Slumberland
b. Lazy Boy
c. Wal-Mart
d. Sears
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Nineteen years after establishing itself in small rural communities, the time came for business to prove that cities were its field.
During one 12-month period, stores opened on the average of one store every other business day.
When two huge stores opened in one city on the same day, more than 120,000 people visited them during the first 12 hours they were open
ONE MORE CHANCE
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Sears Roebuck in the 1920s
In the late 20's, Sears
stores opened on the
average of one every
other business day.
When two huge stores
opened in one city on
the same day, more
than 120,000 people
visited them during the
first 12 hours they were
open.http://www.searsarchives.com/history/history1925.htm
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THE SECRET DOCUMENTSLEGAL CORPORATE ESPIONAGE
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ACCESSING THE
SECRET DOCUMENTS
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WAL-MART TELLS YOU
Wal-Mart was founded in 1962
By 1979, sales reached $1 billion per year.
By 1993, sales reached $1 billion per week.
By 2006, it took 1.2 days to sell $1 billion
Worldwide sales were $312 billion (FY06)
Profits were $11.2 billion (06)
www.walmartstores.com
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WAL-MART TELLS YOU
Employs 1.8 million people
Had 6,100 stores worldwide (2,460 Supercenters)
Added 267 Supercenters (06)
Average Supercenter is 187,000 square feet
International sales totaled $62.7 billion (06)
Planned to add 307 stores in 2007
www.walmartstores.com
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By 2006, there were 2,460
Supercenters
90 percent of all Americans lived
within 15 minutes of a Wal-Mart
93 percent of all Americans shop at
Wal-Mart every year
The increase in Wal-Mart’s sales in
2005 and 2006 was greater than
Target’s total annual sales
SOME PERSPECTIVE
In 1990, Wal-Mart had nine Supercenters
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WE WANT TO KNOW
Average Wal-Mart sales per household
Average daily sales at a typical Wal-Mart
Average number of daily transactions
Average pharmacy sales per store
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SALES PER HOUSEHOLDDomestic Sales
www.walmartstores.com
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SALES PER HOUSEHOLDDomestic Sales ÷ Total Households
$ 209.9 billion in sales
÷ 111,090,617 household
≈ $1,891 per household
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SALES PER DAYBegin with sales per Superstore
Store Sales(06) Stores(06)
Chainstore Age, 2006
Retail ConglomeratesDivision Breakout
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SALES PER DAYBegin with sales per Superstore
Chainstore Age, 2006
Sales ÷ Stores
$158,500,000,000
÷ 1,980 stores
≈ $80 million/store
Retail ConglomeratesDivision BreakoutStore Sales $000 (06) Stores(06)
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SALES PER DAYSales per store ÷ 365 days per year
$80 million per year per Superstore
÷ 365 days per year
≈ $219,000 per day per Superstore
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TRANSACTIONS PER DAYBegin with average spending per trip
www.gmabrands.com/publications/gmairi/2003/october/October.pdf
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TRANSACTIONS PER DAYDaily sales ÷ sales per trip
www.gmabrands.com/publications/gmairi/2003/october/October.pdf
$219,000 per day
÷ $55.11 per trip
≈ 3,975 trans/day
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PHARMACY SALES PER DAY
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
Commission file number 1-6991.
WAL-MART STORES, INC. (Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of
incorporation or organization) Bentonville, Arkansas
(Address of principal executive offices)
71-0415188
(IRS Employer
Identification No.) 72716
(Zip Code)
http://www.sec.gov/Archives/edgar/data/104169/000010416903000005/final10-k.htm
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PHARMACY SALES PER DAY
http://www.sec.gov/Archives/edgar/data/104169/000010416903000005/final10-k.htm
As a percentage of total sales
CATEGORY
PERCENTAGE OF SALES
Grocery, candy and tobacco 24%
Hardgoods 20
Softgoods/domestics 18
Pharmaceuticals 9
Electronics 9
Health and beauty aids 7
Sporting goods and toys 6
Stationery 3
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PHARMACY SALES PER DAY
$219,000 per day
x .09 of sales
≈ $20,000 per day
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WAL-MART SHOPPERSPercentage of total sales
Understanding the Wal-Mart Shopper, Consumer Insight Magazine, A.C. Nielsen Company, 2004
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WAL-MART SHOPPERSBy income
Understanding the Wal-Mart Shopper, Consumer Insight Magazine, A.C. Nielsen Company, 2004
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WAL-MART SHOPPERSTrips per year
Understanding the Wal-Mart Shopper, Consumer Insight Magazine, A.C. Nielsen Company, 2004
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NOT JUST WAL-MART
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NOT JUST WAL-MART
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SO WHAT?
• 4000 transactions per day
• Attention Wal-Mart shoppers
• 93% of Americans shop at Wal-Mart
• 90 percent live within 15 minutes of a Wal-Mart
• 20 versus 73 trips per year
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It ain’t what you
don’t know that gets
you into trouble.
It’s what you know
for sure that just
ain’t so.”
Mark Twain
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Housekeeping Details
• Don’t forget to mark your 2010
calendars with the dates of the
upcoming webinars – 2nd Thursday
• January – March – E-commerce series
• Evaluation http://tinyurl.com/yeblabu
• Happy Holidays!!