The retail stores for this equine feed manufacturer were remaining flat. The challenge was to improve the performance or decide to sell the retail stores.
The original strategic thinking resulted in making the retail stores a combination feed and hardware store. The problem was that small individual hardware stores could no longer compete on pricing with the big box stores.
Our research exhibited that a focused equine store would have a better opportunity to capture a very defined audience. Consequently, we had the company get out of the hardware business completely. We dedicated the store to equine equipment, feed, and education allowing horse clubs to have their monthly meetings in the store after hours. We only hired sales personnel that owned horses and would immediately understand the needs of the customer.
Retail sales up 46% the first full year.
Retail sales up another 39% the second full year.