Present were Sandy Craig, Becky Fitzpatrick, Kristie Dubois and David Engel.
New Business: We have met because of the deep concern about money. E.g.: August sales were $9696.28 (372.93 daily ave.). Outlays for inventory were $7920. Gross margin is 15%. (projected 28%).
September through 9/20 sales = $6520, daily ave. $362.25. September projected sales = $9340. Outlays (which include expenses which do not occur every month, such as taxes) = $12,950.
Kristie suggested 30 and 60 day goals to managers before emergency actions, such as pay cuts, etc. Our first concern is getting more customers! We cannot expect help from buying clubs. We need a newsletter to be published. Sandy will follow up with Roger Greive, whose son's recent birth kept him from attending the last board meeting. Kristie complained again that there is little follow through on many projects. Committee work is not getting done. Our salaries are presently 27% of food sales, which is way too high.
We came up with the following ultimata:
If the gross margin is not up to 28% by November's end, and sales are not up to $100/store hour (minimally $700/day average) and a marketing plan is not prepared by 10/15, then we will take the following steps:
We called a special board meeting at 6:15, Thursday, 9/25. Adjourned.