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Sackville Business Association
Strategic Plan
December 10, 2013
Bonnie O’Toole, BDC Consulting Consultant
2 BDC Consulting
Strategic Plan F-PM-014, V 1.1 - 2011
Sackville Business Association
December 2013
Table of contents
Current State 4
SWOT Analysis 9
Vision 17
Strategy 18
Goals and Objectives 19
Key Performance Indicators 23
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Sackville Business Association
December 2013
Notice to reader
The comments and opinions presented herein are submitted on a best efforts basis and in good faith based on information provided by or on behalf of the Client. BDC cannot warrant the accuracy or reliability of information provided by the Client or in its name.
BDC’s name and/or logo, incorporated in this report, cannot be used in whole or in part, in communication to third parties without BDC’s prior expressed authorization.
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Strategic Plan F-PM-014, V 1.1 - 2011
Sackville Business Association
December 2013
CURRENT STATE
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The Critical Issue: Sackville Business Improvement Vacancy Rate
> Total member businesses in the Sackville Business Improvement District is approximately 288
> 25 vacant properties
> Assume one premise for every business
> 25 / (288 + 25)
8% Vacancy Rate
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How does that relate to surrounding areas
8.0
12.8
9.0 10.4
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
Sackville Business
Improvement District
2012 Sackville / Bedford/
Dartmouth
Peripherial Halifax
Downtown
Vacancy Rate %
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Sackville is Family Orientated and Growing
.
The portion of 35-54 year olds and under 20 are larger than the average
population of NS. This suggests that Sackville is made up of mostly families.
The population of Sackville was 33,115 in 2011. Since 2001 Lower
Sackville shrunk by 4.6%, Middle Sackville grew by 18.5%, resulting a
net increase of 2.4%, more that the net increase for NS of 1.5%.
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Current Mission Statement and Objectives
> The aim of the Sackville Business Association is to develop Sackville as a great place to live, work and shop
> In the Memorandum of Association, objects of the society are:
– Promote existing business interests along Sackville Drive
– Conduct activities related to business promotion, special events and beautification
projects which meet the needs of Sackville Drive business
– Attract new business to Sackville Drive
– Work proactively with government decision makers informing them of the wishes of
Sackville Drive businesses
– Acquire by way of grant, gifts, purchase, bequest, devise or otherwise, real and
personal property to use and apply such property to the realization of the objects
of the Society
– Buy, own, hold, lease, mortgage, sell and convey such real and personal property
as may be necessary or desirable in the carrying out of the objects of the society.
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SWOT ANALYSIS
Strengths, Weaknesses, Opportunities and Threats
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Internal Strengths
> An organized business
improvement district, funded
by a levy
> Full time dedicated business
district association
> Existing programs in place and
members are satisfied with their
effectiveness including:
> Successful streetscape
improvement plan, including
signage and facade
> Marketing and promotion
> Networking events
> Host special events
> Advocacy with the Municipal
government
> Information kits
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Internal Weaknesses
> More resources will be needed to take on more projects, or some programs changed or stopped
> Events and Festivals are not marketed by NS Tourism
> Minimal use of provincial and federal government business development programs
> Business development training could expand beyond lunch and Learn sessions
> Business support could be expanded to include a mentorship programs
> Business development funding could be packaged as a liaison to government programs
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External Opportunities
> Many provincial and federal grant programs to spur economic development through business improvement progress
> Collaborate with government coordinators to access programs that help attract new businesses to Nova Scotia (NSBI)
> Incent the young and the mobile (the cohort most likely to migrate to a new area) to re-locate or stay in Sackville by offering incentives to pursue business opportunities
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External Opportunities Continued
> Collaborate with government coordinators to access programs that help current Nova Scotian Business grow and help entrepreneurs get started (Innovacorp, Economic and Rural Development, Labour and Advanced Education, NSBI, CBDC)
> Collaborate with Immigrant Associations in attracting new immigrants to settle and prosper in Sackville
> Mimic successful programs in other global BID that have made a difference
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External Opportunities Continued
> Baby boomers are leaving the workforce, many starting part time businesses. Baby Boomers are inheriting the largest amount of wealth in world history and have the capital and life experience to start successful businesses
> Never before was it as easy to export using ecommerce and online marketing, improving a district by increasing jobs here
> The largest trend in retail is experiential retail. It is no longer enough just to have a transaction, it needs to be memorable through an experience. Adding events and a wow customer experience are opportunities
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External Threats
> Continued growth in Online Shopping
> Consumers going to new retail parks for shopping
> Unexpected change in government strategy and elimination of business growth incentive programs
> Decline of the economy
> Population decline as workers go elsewhere to look for gainful employment, immigrants not staying in Nova Scotia in pursuit of better markets, birth rates decline further, death rates increase as the largest cohort, the Baby Boomers, enters the senior years
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FUTURE STATE
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Vision
Sackville will be the mecca for experiences in
retail, services, and activities where people
love to live, work, and shop.
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Strategy
> To grow the Sackville Businesses Improvement
District by attracting new businesses and
increasing customers to existing businesses.
This will be done by focusing on three strategic
Initiatives:
– Support the development of an experiential shopping
district to increase customer traffic
– Retain Current Businesses by Supporting Business
Growth
– Promote an ideal environment where new businesses
want to locate
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STRATEGIC INITIATIVES GOALS AND OBJECTIVES
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Support the Development of an Experiential Shopping District to Increase Customer Traffic Actions Timing Goal
Co-Develop and promote two new festivals –
Winter & Summer
Feb.
2015
Two Festivals
Start a Farmer’s Market (including artisans),
ensuring adherence to guidelines
Q3 2015 Eight weekends
Farmer’s Market Evaluation and discussion on
future of Market
Q2 2016 Decision by date
Offer customer service training Q3 2014 One course
annually
Create a recognition award for best in customer
service
Q4 2014 Promoted with
Press Releases
and Facebook
Investigate creating a campaign calendar with
monthly themes and co-promote with retailers
Q1 2015 Decision by date
Continue to offer the existing streetscape
programs
On-going Current level of
funding and effort
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Retain Current Businesses by Supporting Business Growth
Actions Timing Goal
Offer a business development course that
enables business growth
By Q4 2014 One course
annually
Encourage other businesses to host monthly
networking events and co-promote
On-going One monthly
Continue Marketing and Promotion, and include
email marketing
Add email by
Q4 2014
Monthly
communication
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Promote Sackville as an Ideal Environment for New Businesses to Locate
Actions Timing Goal
Formally invite economic development agencies
to meet with the board and members to gain
understanding how the SBA can work with them
to attract business
Q2 2014 4 agencies
invited
One member representative becomes a liaison
with a government department to attract new
business to the area
Q1 2015 Twice a year
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Primary Key Performance Indicators
1. Consumer Experience Index 70% (average of polled
responses)
2. Satisfaction with Business Development programs Index 80%
(average of polled responses)
3. Vacancy rate less than 50% of HRM Average Vacancy Rate
(*excluding units less than 24 months in inventory)
4. Net Businesses (businesses came less businesses left)
More businesses started than businesses that left
By the end of 2018, the following goals will be met:
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