Vanille Patisserie
George S. May makes business sweeter than ever for master pastry chefs
About Vanille Patisserie
A gourmet French pastry shop in the heart of Chicago, Vanille Patisserie creates artful pastries that combine classic European traditions with modern flavors for the contemporary palette. For private events, and the public, their award-winning pastry chefs create a variety of meticulously crafted delights, personalized wedding and custom cakes, handmade chocolates and candies, delicious entremets and luscious tarts.
The Challenge
Business was growing, and growing quickly for Vanille Patisserie. Unfortunately, the profit did not match revenue growth, and this family business found that they were working harder for less money.
After George S. May completed its initial analysis, it became clear that there were issues with the shop’s ability to control its expenditures. For example, George S. May found that Vanille Patisserie had actually been under-pricing one of its top-selling desserts by 71 percent. Vanille Patisserie also experienced difficulties from no having a structured marketing strategy.
The George S. May Solution
The George S.May consulting team quickly developed a two-pronged strategy. Working with Vanille Patisserie’s management, George S. May put in place guidelines for targeted profitability levels according to different ranges of revenue. This consisted of implementing procedures, which included an annual budget, product costing and pricing, accurate labor cost identification, cash flow forecasting, and others which helped control the company’s expenditures. George S. May also implemented procedures addressing many areas within the sales activities, including Marketing & Sales Plans, Customer Evaluation & Profiling, and Store Layout. These solutions included:
- Helping customers discover new treats by repositioning displays and desserts, directing dessert lovers to specific areas of the shop
- Is the price right? George S. May provided market analysis and identified cost drivers (hours,
consultation, ingredients) to create pricing that improved profit - Clarity. Reconciling multiple balance sheets to a single profit and loss statement
- Finding where the sweet tooths are with a marketing strategy makeover. George S. May provided ROl-driven advertising and marketing recommendations
- Customer loyalty and relationship management strategies and tools
The Benefits
- Retail profit increased by nearly 25 percent in the following quarter
- Immediate increase in foot traffic and per-visit sales
- Owners can financially plan ahead, instead of looking day-by-day
- Owners now have capital and tools to explore and price new locations and product lines. For example, gourmet ice cream
“This experience has been rewarding in many ways as we feel it was a necessary investment (For ourselves and for the life of our business.” — Dimitri and Keli Fayard, co-chefs and co-owners, Vanille Patisserie
