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  • When you read much of the literature on green building, there are some concerns builders have faced in selling green. It’s definitely a growing market, but to more effectively mass market green building, we feel there are 4 things that contribute to success: Use of the term “High Performance” – It’s an attribute customers want in their computers, audio-video equipment & cars. They should in their homes. Our brochures & marketing use the term “Hi-Performance” And with all of us struggling in a market crammed with distressed housing, we simply have to plug the advantages of new systems-built homes with respect to performance & green. The dial shown here – as the backbone to our HiPG brochure, it easily highlites the benefits of our product The second attribute to success is to keep it simple & inexpensive – included in your price if possible. By including EnergyStar & NAHB Bronze, we give you a boost towards that. You need to decide for yourself if it will be “standard” or “optional” If you choose the second, we’ve made it so that the upcharge isn’t as large as much of your competitors Thirdly – Make the payback specific.
  • 
  • Eco-Cottages provide small structures ideal for recreational use. Or, they can provide additional space for families who are growing due to adult children returning home or aging parents. And they can be delivered to any environment – mountains, coastal, or even as an attached or detached space on your home property.

Transcript

  • 1. Palm Harbor Manufacturing Division Please add a really pretty picture – this is just the cover1
  • 2. Palm Harbor Manufacturing Division Update 1. Factories - Location, Capacity and Status 2. Palm Harbor Homes 3. Nationwide Homes 4. PHNCS 5. Financial Results 6. Challenges and Opportunities2
  • 3. Palm Harbor Building Centers - Open Capacity Current Current in Floors Annualized Production Annualized Open Factories per Day Capacity in $ per Day Production Notes Builds Mod, HUD,Austin, TX 05 7 $45,927,000 5 $32,805,000 Commercial, ANSI Builds Mod, HUD,Plant City, FL 09 7 $45,027,000 3 $19,683,000 Commercial, ANSI Builds Mod, HUD,Ft. Worth, TX 15 9 $59,049,000 5 $32,805,000 Commercial Builds Mod, HUD, Commercial, ANSI and all CanadianMillersburg, OR 22 9 $59,049,000 2.6 $17,058,600 codesNCH Martinsville, VA Builds Mod,4 4 $32,805,000 3.6 $23,619,600 Commercial, ANSI NCH Retail – 2 store fronts, 2 displayNCH Consumer NA NA centers3
  • 4. Palm Harbor Building Centers - Idle Capacity Current Current in Floors Annualized Production Annualized Open Factories per Day Capacity in $ per Day Production Notes Same campus asAustin, TX 07 5 $29,160,000 0 0 Austin 05 Same campus asPlant City, FL 06 6 $34,992,000 0 $19,683,000 Plant City 09NCH Martinsville, VA Same campus as3 4 $23,328,000 0 $32,805,000 NCH MV 4NCH Martinsville, VA Same campus as1 3 $17,496,000 0 $17,058,600 NCH MV44
  • 5. Palm Harbor Building Centers – Closed & For Sale Capacity Current Current in Floors Annualized Production Annualized Open Factories per Day Capacity in $ per Day Production NotesTempe AZ 02 5 0Casa Grande, AZ 19 6 0 Has 50 acreAlbemarle, NC 18 4 0 outparcel alsoNCH Siler City, NC 33 3 05
  • 6. Modular vs HUD Manufactured Homes Modular Home  Built to national HUD code  Built to local building codes  Price range: $50,000 to $125,000  Price range: $80,000 to $250,000  Financed with chattel (home  Financed with real property only) and real property mortgages mortgages  Account for 35% of revenue  Account for 65% of revenue  Often multi-story and multi-  Always one-story elevation family6
  • 7. Palm Harbor Homes: Uniqueness • Residential Exteriors – Built in the factory, not the field • Families of plans – Across sizes, price points, and codes • Powerful Marketing Support – Think like a retailer! • Focus on Measurable Customer Satisfaction7
  • 8. Uniqueness: Residential Exteriors from the Factory Designed and Rendered by Built to Specifications in Our Our architect Building Facility8
  • 9. Uniqueness: Family of Plans Sell More with Less9
  • 10. Uniqueness: Powerful Marketing Support10
  • 11. Uniqueness: Powerful Marketing Support • Need collage of USPs – EnerGmiser, Durabuilt, GKC, Green, etc11
  • 12. Uniqueness: Measurable Customer Satisfaction Satisfaction Index Sales Experience 90% Site Construction 88% Gold Key Care 92% Quality of Homes 95% Warranty Needs 88% Overall Satisfaction 92% CSI for Month 91%12
  • 13. Palm Harbor Statistics 26% Modular 27% On-Frame 73% Off-Frame 12% Modular 88% Hud Code 90% On-Frame 13% Singles 10% Off-Frame 87% Multis 88% Hud Code 26% Singles 74% Multis13
  • 14. Palm Harbor Statistics 36% On Frame 64% Off Frame 13% Single Section 87% Multi-Section14
  • 15. 15
  • 16. Palm Harbor Homes HUD Code Market Share16
  • 17. Palm Harbor Homes HUD Code Market Share PHH HUD Market Share Market Composition Thru Dec State 2010 Share 2009 Share SW MW Total TX 15.60% 14.60% 4284 3731 8015 LS 2.30% 1.82% 2594 1672 4266 OK 6.30% 4.30% 813 931 1744 AR 0.00% 0.00% 611 761 1372 NM 9.50% 9.00% 446 698 1144 OR 20.00% 19.00% 62 610 672 WA 10.30% 8.00% 58 623 681 FL 9.10% 5.50% 521 1972 2493 ALL 8 8.90% 8.00% 9389 10998 20387*NCBCS Market Share Summary – shipments through December 2010.17
  • 18. 18
  • 19. Palm Harbor Homes Modular Market Share PHH/NCH Market Share Modulars through June State 2010 Share 2009 Share 2010 2011 VA 11.83% 9.59% 896 938 NC 9.31% 9.15% 1472 1574 SC 7.28% 8.97% 316 312 KY 8.00% 11.11% 50 45 TN 4.29% 13.33% 163 135 WV 10.95% 7.88% 210 165 FL 29.18% 25.22% 233 226 GA 11.69% 1.35% 77 74 AL 27.42% 32.00% 62 50 LA 5.26% 7.93% 209 290 MS 7.14% 0.00% 14 54 TX 35.31% 36.51% 303 315 ALL 12 12.81% 12.21% 4005 4178*NCBCS Market Share Summary – shipments through December 2010. 19
  • 20. Nationwide Homes: Distribution Channels20
  • 21. Nationwide: Production Statistics Avg 2447 SF Avg 1659 SF Avg 1743 SF21
  • 22. Nationwide Uniqueness: Custom Made Easy Cornerstones of Custom Made Easy1. 51 Years of Systems-built Experience2. The HiPerformance Construction Story3. Unparalleled Marketing Support – Including the industry’s best Web Lead Program + the Extreme Makeover Story4. Profit-Maximizing Construction Support – From Pro-Set to Completion22
  • 23. Cornerstone 1: 50 Yrs of Systems-Built Experience23
  • 24. Cornerstone 2: HiPerformance Construction Story24
  • 25. Nationwide: HiPerformance Construction25
  • 26. Nationwide: HiPerformance Green26
  • 27. Nationwide: HiPerformance Design27
  • 28. 28
  • 29. Eco Cottages: Uses and Environments  Guest House  Mountain  Pool House  Coastal  Granny Cottage  Backyard  Hobby Shelter  “Off the Grid”  Small Residence  Resort Area  Vacation/Recreational  Home Addition  Returning Adult Child  Dream Builder Lot  Care Cottage29
  • 30. Cornerstone 3: Unparalleled Marketing Support Our Sales philosophy: Pull Through the Business30
  • 31. Nationwide: E-sales • Prime (1st Page) Position on most Search Engines • Averaging over 22,000 New, Unique Visitors monthly • Working database of over 1,400 active, interested leads • 10 Leads/Day average turned over to builders… on average already spent 14 days communicating with Internet Marketing Manager • 5% of all leads turn to sales • 20% of last year’s sales started as an E-Lead31
  • 32. Marketing Manual and Support 32
  • 33. HOTMFlyers 33
  • 34. Builder WebsiteTemplates and Marketing Walls Insert picture of wall
  • 35. Nationwide HomesThe first Modular built on ABC’sExtreme Makeover: Home EditionFebruary 27, 2010
  • 36. Cornerstone 4: Profit Maximizing Construction Support 4 key steps… 2. PowerTools Pricing – Intuitive pricing program provided to all builders. 3. ProSet and ProSet Plus – Professional installation on your foundation. 4. First Responder Process – Dedicated team to assure a smooth construction process. 5. Completions Support – Sample contracts, riders, bid sheets, and forms to aid our builders in completing every transaction.36
  • 37. Nationwide: Modular Market Share - ‘08, ‘09, ‘10 2008 12-Month 2009 12-Month 2010 12-Month 2008 2008 NCH 2009 2009 NCH 2010 State 2008 NCH Sls ms State 2009 NCH Sls ms 2010 Market Var NCH Sls NCH MS VA 1516 211 13.92% VA 938 75 8.00% 896 -4.48% 105 11.72% NC 2572 92 3.58% NC 1574 88 5.59% 1472 -6.48% 126 8.56% SC 546 5 0.92% SC 312 10 3.21% 316 1.28% 19 6.01% KY 80 3 3.75% KY 45 5 11.11% 50 11.11% 4 8.00% TN 216 27 12.50% TN 135 19 14.07% 163 20.74% 7 4.29% WV 310 28 9.03% WV 165 13 7.88% 210 27.27% 23 10.95% FL 492 45 9.15% FL 226 20 8.85% 233 3.10% 13 5.58% GA 248 29 11.69% GA 74 1 1.35% 77 4.05% 9 11.69% AL 195 7 3.59% AL 50 3 6.00% 62 24.00% 2 3.23% LA 431 7 1.62% LA 290 0 0.00% 209 -27.93% 0 0.00% MS 148 7 4.73% MS 54 0 0.00% 14 -74.07% 0 0.00% OH 498 7 1.41% OH 293 10 3.41% 279 -4.78% 3 1.08% MD 760 20 2.63% MD 375 24 6.40% 359 -4.27% 0 0.00% 8012 488 6.09% 4531 268 5.91% 4340 -4.22% 311 7.17%37
  • 38. PHNCS: Structure Palm Harbor Homes President of Manufacturing PHNCS Manufacturing Facilities (5) Allen Mckemie-President Sales Variable Involvement Bert Kessler, VP of Engineering Production Engineering Materials Quality38
  • 39. PHNCS: Results39
  • 40. Type of Project Completed Since 2008 Currently in Process Military $18,000,000` $13,400,00 Commercial Offices $1,252,000 $380,000 Classrooms $1,346,000 $0 Motel $1,000,000 $0 Multi-Family Projects $15,726,000 $1,000,000 Single Family Projects $7,131,000 $1,307,000 Specialty (Boats/Cabins) $4,563,000 $0 Total $49,618,000 $16,807,00040
  • 41. Kent Harris Apartments – Lake City Florida 202 Boxes/$6.4 million 41
  • 42. Motel – Coushatta, Louisiana 28 boxes/$1 million42
  • 43. Ft. Hood Permanent Barracks Killeen, Texas 240 Boxes $13.4 million43
  • 44. PHNCS: Current Bid Log • $187,805,012 in outstanding bids/quotes • 8 projects rated 70% probability or higher • Increased emphasis on multi-family, reflecting the national trend. 45% of outstanding quotes are for multifamily.44
  • 45. Financial Results Q245
  • 46. Financial Expectations – Q3 and Q446
  • 47. Challenges and Opportunities • National Foreclosure Problem – Competition for the buyer – Impact on appraisals • Raising Revenue/Lowering Cost – Nationwide Homes • Order backlog supports more revenue generation • Cost structure improving – Palm Harbor Homes Locations • Headcounts and costs have been reduced • Revenue generation critical – prospecting, partnering with Fleetwood sales teams, RVs. • Complexity47