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Outline of Services Performed:

  • business development
  • retail launch strategy
  • financial plan development
  • human resources management
  • interim sales and marketing director
  • trade show preparation

Beneficiary of RHG's Expertise:

    Due to its exclusive territory and large customer base, the
    Company had become rather complacent in business
    development beyond its narrow channels and line of products.
    The Company’s business is segregated into five parts:
    (i) house accounts, (ii) chains, (iii) retail (small
    independents), (iv) replacement parts, and (v) equipment
    servicing.  

    House accounts provide the majority of the top line sales
    followed by the chains, but these channels also deliver the
    lowest gross margin.  Although the retail channel enjoys a
    high gross profit, it is smallest of the three and is plagued by
    declining business from the house accounts and chains
    competition.  Furthermore, the demand for $5k to $15k
    machines is limited, especially in the current Ohio retail
    climate and competition as is repeat business, because a
    $10k piece of equipment lasts a long time.  The parts
    business, on the other hand, yields a significant gross profit
    in excess of 43%

    A large national corporation recently purchased the Company’
    s main supplier .  Due to the possibility of supplier’s price
    lowering for equipment and parts, the Company would like to
    diversify and add new lines of products (non-competitive to
    the supplier) to sell to its current customers and channels,
    develop new customers and channels, and increase its
    existing lines.

Detail of Services by RHG:

    Richard Henry Group is currently in the process of developing
    its deliverable on this project and expects to complete Phase I
    engagement in the near future.  The Phase I engagement
    consists of:

  • assessing the current operations,
  • evaluating staff capabilities,
  • evaluating the infrastructure’s growth potential,
  • identifying obstacles to growth,
  • assessing competition,
  • assessing what has and hasn’t worked in the past,
    and
  • analyzing existing vendor relationships.

    The final deliverable on this assignment will be directed
    toward guiding the Company to expand and diversify its
    product lines and introduce the expanded lines into its
    existing and new sales channels, and increasing its parts
    business.


       business development
DISTRIBUTION
RICHARD             GROUP, LLC
HENRY
Meaningful Partnerships
Consequential Change
Measurable Results
Business Development and Turnaround Advisors
Client Quotes:
    section under development

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RICHARD HENRY GROUP
ANNOUNCES THE LAUNCH OF
ITS NEWLY DEVELOPED
WEBSITE

Richard Henry Group, a
northeast Ohio business
development and turnaround
advising firm, announces the
launch of its new website.  The
website has been created to
reflect Richard Henry Group’s
organizational culture, strategy,
and uniqueness.  The website
may also be used as a
resource tool by Richard Henry
Group’s referral partners and
its current and prospective
clients.  www.RHGsolutions.
com provides visitors with case
studies, a news archive, and
the most recent news about
the company.  The website has
been developed and
maintained by
COSMIN
Consulting.  Richard Henry
Group would like to invite
interested parties to visit its
newly developed website and
submit their feedback.