Jack Feiter by: Jake Feiter T.F. Kinnealey Co., Inc. VP, Director of SalesKinnealey’s - Distributing high end, quality food.
Business startup and role in business• Founded in 1939 in Faneuil Hall, Boston, MA• VP, Director of Sales• Manages 18 people• Manages inside and outside sales department, trains staff, and creates marketing promotions.• Inside sales people – Responsible for processing orders and assisting sales reps that are on the road.• Outside sales people – Cover territory in Massachusetts, Rhode Island, New York, Maine, and New Hampshire.
Type of Human, Natural, and capital investments• Works mainly with human investments. It is a huge investment to bring on a new sales person. It takes approximately two years for a sales person to create a territory that is profitable.
Fixed and Variable costs• All of the payroll and healthcare are fixed expenses because sales people work off salary pay.• Transportation, products, and shipping expenses are variable costs.
Expectations of employees• Reliability, consistency, and quality customer service for inside sales reps.• Outside sales reps must be profit driven, customer focused, and reliable.
Target audience• Independent restaurants, hotels, clubs, universities, and retail stores. • Examples: • Harvard University • Boston College • The Mandarin Oriental Hotel • The Eastern Yacht Club in Marblehead, MA• Attracts businesses by providing quality products and services.
How to expand market share• Generating new customers, expanding into new territories, and online marketing.
Seasonal Nature in business• Business consists of two seasons: Cape Cod, the Islands, Newport, RI and the Maine coast are primarily summer sales generated. Metro Boston and Providence generate fall and winter sales.
Impact company has faced because the bad economy• The average customer order sizes and profitability per delivery have decreased.• Had to create additional market share to offset the financial challenges.
Role of local, state, and government• Not aware of any local and state regulations.• Government – The manufacturing facility is overseen by the USDA and there is an inspector onsite at all business hours.
What can government do to help grow business• Lower Taxes
Personal Rewards• Salary, benefits, challenges, and freedom of not always being behind a desk.
Words of wisdom• Stay in college, get an education, and do what you love.