Foster Companies LLC.

Strategic Organizational Plan:

Prepared by:

Angeline Fierro, Anna Kauffman, Joseph Madera, Madison Solka, Joshua

Pozniak, & Daniel Wall

Commercial Real-Estate
Management Team
Victory Lap PR

November 6th, 2020


Table of Contents

Page
Executive Summary .......................................................................................................................3
Introductory Summary ....................................................................................................................3
1.0 Organization Background ........................................................................................................4
1.1 Business definition ......................................................................................................4
1.2 Vision............................................................................................................................4
1.3 Mission .........................................................................................................................4
1.4 Value Proposition .........................................................................................................4
1.5 Organization Structure .................................................................................................4
1.6 History & Culture ........................................................................................................4
2.0 Situation Analysis .....................................................................................................................5
2.1 Definition & Scope of Situation ...................................................................................5
2.2 Stakeholders Effected ..................................................................................................6
2.3 Competition .................................................................................................................7
2.4 SWOT Analysis ............................................................................................................8
2.5 Market Position ............................................................................................................9
3.0 Plan ........................................................................................................................................10
3.1 Objectives, Strategies & Tactics .................................................................................11
3.2 Critical Success Factors ............................................................................................13
3.3 Key Performance Indicators ......................................................................................15
3.4 Budget & Resource Allocations .................................................................................16
3.5 Timeline ......................................................................................................................16
3.6 Evaluation Method & Anticipated Results .................................................................17
Appendices ...................................................................................................................................18
A. Foster Companies Organizational Chart……………………………………………..18
B. Foster Companies Budget…………………………………………………………….19
References .....................................................................................................................................20


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Executive Summary

Foster Companies LLC. is a property management company in Bloomington-Normal that

serves residents by providing commercial real estate and storage units. Foster Companies
seeks to develop into a self-reliant organization by improving internal and external
communication and increasing internal work productivity to limit the outsourcing of
labor.

This document presents a proposed plan for the 2020-2021 fiscal year to increase annual
revenue and improve both internal and external communication. This is so that Foster
Companies can become almost entirely self-sufficient. The information and data obtained
to create an understanding of Foster Companies’ current goals came from an interview
held with Foster Companies’ management Andrew Foster and Jesse Smith. This plan was
created after a detailed analysis on Foster Companies’ current organizational goals. The
objectives for this plan include:
• Decrease role ambiguity by 20% among employees during daily tasks to increase
overall efficiency by December 31, 2021.
• To increase tenant satisfaction by 20% by December 31, 2021.
• Increase demand for storage units by 10% in returning college student-athletes by
Jan. 1, 2021.
• Increase amount of communication with current tenants to improve customer
knowledge by x % over a year, measured quarterly starting Jan. 1, 2021
• Increase brand awareness across ISU student athletics by 40% by the end of 2021.
• Increase the number of student athlete leased storage units by 200% at the end of
2021.

If these objectives are met by the deadlines proposed within the plan, the plan has been
successful. At the beginning of the plan, there must be benchmarks established as a point
of comparison to reveal Bloomington-Normal resident’s current knowledge of Foster
Companies, current tenant satisfaction and employees’ current levels of job ambiguity.
Once Foster Companies internal communication is improved, there will be decreased
ambiguity in job roles, allowing employees to execute their jobs more effectively. This
will create opportunities for communication from employees to current tenants about
their satisfaction with provided services. Once Foster Companies external communication
is improved it will become a more recognizable brand, expanding their potential client
base. This will then create opportunities for increased annual income.

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1.0 Organization Background
This section covers the essence of Foster Companies as a whole business. It will define the
business operations at Foster Companies LLC. Additionally, it will address Foster Companies
vision, mission, value proposition, organizational structure, and history and culture of the
business. All this information included will provide the necessary supplementary material needed
to comprehend and understand the situational analysis and proposed plan.
1. Business Definition
Foster Companies LLC is a family owned realty and storage company that has been
serving the residents of Bloomington-Normal for three generations. The company was
started by the current owner’s grandfather and father who developed commercial real
estate in North Normal as general contractors. Flash forward to today, Foster Companies
LLC is primarily run by Andrew Foster and officially became an LLC in 2018. The
company now owns three large properties and sixteen storage units in the Bloomington-
Normal area.

2. Vision
VictoryLap PR created a vision statement for Foster Companies LLC because there is
currently none. Foster Companies LLC can either use the provided vision statement
moving forward or prepare a new one based on VictoryLap PR’s recommendations.

Our vision is to achieve the highest standard in commercial real estate and public
storage by providing low rates with personal and efficient maintenance to create
lasting relationships with tenants.

3. Mission
VictoryLap PR created a mission statement for Foster Companies LLC because there is
currently none. Foster Companies LLC can either use the provided mission statement
moving forward or prepare a new one based on VictoryLap PR’s recommendations.

Our mission is to go above and beyond to provide lessees with a

comfortable and accommodating working and storage experience.

4. Value Proposition
VictoryLap PR created a value proposition for Foster Companies because there is
currently none.

Safe storage & housing you can count on.

1.5 Organization Structure

Unlike large corporations, LLCs have a streamlined organizational structure. Eliminating
the need for officers or an entire board of directors, Andrew Foster and his close-knit
team of carefully selected employees handle managing and operations directly. Allowing
them to build good rapport with their customers, demonstrating that they care.

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6. History & Culture
Foster Companies was first launched by Andrew Foster’s Grandfather in 1962.
Developing in the North Normal area of Illinois, this family owned realty business has
been passed down through generations while continuing to grow and evolve through the
years. Andrew Foster, the current owner, took over the business from his father who was
a general contractor for the area at the time. He owned several other properties and
eventually purchased this location in 1997. Andrew Foster has owned three properties
which were all recently combined, making them an official LLC in 2018. This family-
driven company caters to small businesses and takes great pride in the relationships they
have created with their customers. Foster Companies also collaborates with local well-
known individuals and leaders to enhance their presence on social media by offering
cross-promotional deals.

2.0. Situation Analysis

2.1 Definition & Scope of Situation

Foster Companies handles leasing commercial real-estate and personal storage units in
the town of Normal, Illinois. It is owned and operated by Andy Foster. There are three
buildings that belong to Foster Companies at 1314 Fort Jesse Road, 1201 Major Street
and 109 North Town Road. Their storage units are located at 1314 Fort Jesse and 1201
Major Street. Their fees for the storage units range from $60 to $375 per month and each
lease lasts 12 months. Their storage sizes run from 5x10 sq. ft. to 10x40 sq ft.

Foster Companies need to get their budget redone as they have consolidated their
business recently from three separate companies into one LLC. One of their most
important employees in the company recently passed away unexpectedly so they have
had internal issues with division of labor in the company. This is made increasingly
difficult by their small size and the company being kept within the family. They also need
to increase brand recognition in the town of Normal and among Illinois State students to
be able to find people to lease their storage units they offer

They need to get their financial records together following their consolidation. Now that
they are an LLC, they need to get everything aligned. They now are a flow through entity
and don’t get taxed on the corporate level anymore and now the income is being taxed to
the owners individually and no longer to the companies themselves. They need to adjust
how they use their cash flows since they can do it more freely now.

Following the passing of Larry Foster, one of few employees at the company they have
been having a difficult time with dividing work between their members. He handled a lot
of the bookkeeping and shared the duties of building maintenance with Andy. Now the
other employees have more work to do, losing connections to their tenants, being forced

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to do things that they have less knowledge of than Larry did and having to outsource
more work to contractors.

They have an issue of brand recognition. Foster Companies offers the lowest prices for
storage units in the town of Normal and are not filling up because they are not known for
it. Their competitors specialize in this and are known as the go-to for storage units despite
having better prices and being in a less convenient location. They wish to be more well-
known by college students who need a storage unit. This starts with them putting more
information about their storage units on their website, social media and on search
engines.

2.2 Stakeholders Effected

Foster Companies serves a variety of publics in the Bloomington-Normal community.
Each of these stakeholders play an integral role within the company, contributing to the
potential successes or failures of the company. Each building property leased out to a
business in Bloomington-Normal has its own stakeholders and roles in the community.
These stakeholders play an integral role within the company, contributing to the potential
successes or failures of the company.

Internal Stakeholders would include employees, owners, financers, managers, investors…

Employees are essential to Foster Companies because a majority of the success of the
company is dependent on the relationship that is developed between the employees and
potential customers. (paragraph describing the internal stakeholders)

External stakeholders include Bloomington-Normal citizens, customers, suppliers, and

competitors. The businesses that operate under leasing contracts with Foster Companies
have their own roles and publics in the community. There are three buildings owned by
Foster Companies and the businesses that operate under leasing contracts with Foster
Companies have their own roles and publics in the community.

K’s Academy is a baseball training facility that trains a variety of athletes in the
community. They provide lessons and special training that boosts athletes abilities who
are involved in a variety of baseball programs in the community. K’s academy has an
effect on the success of multiple teams and programs in Bloomington-Normal. They train
athletes on Bloomington-Normal travel baseball teams, high school teams and college
teams. Many collegiate athletes pay to take lessons here, which affects the success of
Illinois State baseball team and Heartland Community College team. Investors and
donors for these teams boost the funding for these programs and create the need for elite
skills to be a part of these programs. K’s academy trains multiple major league players
that are funded by the financials of major league baseball organizations. Athletes
produced by K’s academy are also stakeholders in the Kernel Summer League hosted by
the Corn Crib.

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Fort Jesse Building - storage units, the foster company businesses and people that rent
The gym that leases out the building, people who pay for membership.

2.3 Competition
Foster Companies stands out for offering the cheapest price per square ft. in the Town of
Normal. However, rental property in the Town of Normal is more expensive than it is in
Bloomington. Customers are paying for the location and convenience when renting
storage units in Normal. However, competition in Bloomington has rental property
available for a cheaper price, but is also less convenient for certain publics.

Below are the different competitor categories which evaluate the competitors for both
sectors of the business. First, we evaluate the competitors for storage units on a four-point
scale of low (1) to high (4) competition factors based on location, price, unit and service
quality. Next, is the evaluation of commercial property real estate measured on a three-
point scale of low (1) to high (3) competition factors based on location and availability of
open units, price and quality of service. Low competitors for storage companies are
poorly located compared to our client and produce a smaller threat compared to the
competition in Normal. However the prices are competitive enough to still be considered
competition. High competitors for storage companies offer a competitive location and
price as well as high brand recognition. All competitors offer a year leasing contract, but
offer different discounts and incentives.
Low competitors for commercial property offer a different need for space than our client
and is located only in Bloomington. High competitors have competitive leasing properties
in Bloomington and the Town of Normal, as well as competitive prices and high brand
recognition.

2.31 Storage Units

Uncle Bill’s (4): Uncle Bill’s Self Storage has two locations in Normal on opposite sides
of Illinois State University’s campus. One building is near the intersection of Fort Jesse
Road and Towanda Avenue, which is the closest to Quality Self Storage owned by Foster
Companies. The website is nicely organized and offers the customer a visual comparison
of items that could fit in each storage unit size. The website also contains a link to their
YouTube channel which allows a further visual of the product and service the company is
selling. Moving supplies are also available for on-site purchase.

Storage Express (3): Storage Express has multiple locations across Illinois which gives
the brand high recognition. The location in Normal has the largest range of sizes offering
unit sizes 3x4 to 10x30. The website offers a size guide, storage tips, a moving checklist,
and a blog. Like Twin City Self Storage, the website highlights a 50% off discount which
could be persuasive to a certain demographic.

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Twin City Self Storage (2): Twin City Self Storage is a chain of storage units across the
country. They have a strong brand recognition and have brightly colored storage units
which are appealing to female customers. They offer a larger range of smaller storage
size options and have a “Storage Features” page on their website that describes the
functionality of different unit sizes. There is a discount highlighted on the homepage for
purchasing a unit online and works to grab the customer’s attention.

Market street self-storage (1): Market Street Self Storage is located in Bloomington, but
is close to Illinois State University. This allows them to sell storage units at a cheaper
price. Depending on the customer’s location in Normal, this company could be a closer
distance than the competition. They offer smaller units and have a competitive price.

2.3.2 Commercial Property

Coldwell Banker Commercial (3): This company offers multiple available units for lease
in the Town of Normal. The cost per sq. ft. is more expensive compared to that of the unit
available from Foster Companies. However, Coldwell Banker Commercial owns more
property and leases to many businesses in the community. They have a higher brand
awareness and a professional website that is easy to use and gives

Core 3 Commercial Properties (2): Core 3 Commercial Properties has three available
commercial properties located in Bloomington only. They offer a site in Downtown
Bloomington, along with two smaller commercial sites similar to available properties for
sale by Foster Companies.


Hermes Property Management (1): Hermes Property Management offers one large
storage space and one business office space for lease in Bloomington. Besides these two
properties, they offer two large warehouse spaces in Bloomington, which is not
competitive for foster Companies. The website home page contains an easy accessible
display of the property they have available which could give this company an advantage
for an online customer.

2.4 SWOT Analysis

Aspects Implications Possible Actions

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Strengths • Location to • Closer to • Allows students to
campus campus for the easily move in
• Cheapest students and out of their
rates on • Competitive storage units
campus advantage during the year
• Multiple unit from pricing • Advertise lower
sizes • Flexible pricing to raise
• Personal options for awareness
maintenance space for • Creates more
work tenants opportunity for
• Better people to sign
personal storages
relationship • Offer outreach
with tenants program for
feedback

Weaknesses • Minimum of • More • Offer monthly

one year convenient for leases to give ISU
leasing the company students more
contracts • Lack of convenient
• Lack of knowledge on options.
advertising social media • Explore and
experiment with
different social
media platforms
to expand brand
recognition.

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 Opportunities • Shorter • Offer student unit
leases for • Avoid being programs for
college stuck in 12 flexibility
students month lease • Improve website
• Increase while not at and possible ad
brand school placement to
recognition • Website hard increase traffic
with storage to find, going to website
units improve • Offer packages
• Prorate search engine such as 9 months
amount for keywords for 75%, 6 months
shorter leases • Reduce for 50% or 3
leasing months for 25%
drought in
winter months

Threats • Competition • The • Once again, offer

with more competition monthly leases to
monthly has more give ISU students
options close customers, more convenient
by therefore options.
• COVID they’re • Possibly reach out
making more to first responders
money or hospitals to
• Due to promote storage
COVID, units for PPE.
numbers aren’t
as big due to
the decrease of
students on the
campus.

2.5 Market Position

Foster Companies LLC is proud to have served the town of Bloomington-Normal since
1976. Foster Companies LLC provides working, living and storage spaces across three
different properties in Bloomington-Normal. With its long standing reputation in the
town, Foster Companies LLC is able to retain established clients; however, due to a lack
of external communication and social media presence, Foster Companies LLC cannot
adequately target its desired new client base of Illinois State University students.

Foster Companies LLC is viewed as a reliable property management company that

provides a safe and comfortable space for lessees and renters at an exceptional value.

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Competitors include other property management companies, storage facilities, leasing
companies, etc. (see Section 2.3). Overall, Foster Companies LLC is able to distinguish
itself from its competitors through their low prices and deep rooted reputation.

Within the property management market, Foster Companies LLC is a company that
prides itself on building relationships. Foster Companies LLC is one of the few
companies of its kind that dedicates itself to providing close knit relationships with
lessees and renters. Having a stronger marketing approach and social media presence to
build awareness amongst Illinois State University students is the best option for Foster
Companies LLC to continue serving this competitive market. Foster Companies LLC can
grow its new client base by following this proposed plan to improve external and internal
communication.

3.0 Plan
This section provides an action plan for Foster Companies beginning on January 1, 2021 until
December 31, 2021. It builds on the previous two sections within the SPP. Our plan helps Foster
Companies reach some of their key goals and foster better relationships with tenants to retain
them and use them to recruit new tenants. Our plan consists of objectives, strategies and tactics;
critical success factors; key performance indicators; a new budget; an implementation timeline;
and the final evaluation method and anticipated results.

3.1 Objectives, Strategies, and Tactics

The following chart consists of the objectives, strategies, and tactics needed to carry out this plan
successfully. Our objectives consist of four ideas that will be implemented to improve Foster
Companies as a whole. Following the objectives, in the box below are the rationales and
benchmarks. Rationales dive further into detail about how and why the objective will successfully
create a positive impact within the company. Benchmarks denote what the actual issue at hand is
and also serve as a point of reference for comparisons and assessments later on. Strategies refer to
the plan or policy of action in order to achieve the desired end goal. Lastly, the tactics are the
specific actions that are required and carefully curated to achieve a specific end, eventually
setting Foster Companies up for success in the future.

Objectives Strategies Tactics

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1. Decrease role ambiguity by 20% Selective exposure Create weekly schedule
among employees during daily tasks placing tasks in on white board to
to increase overall efficiency by places where ensure employee’s
December 31, 2021. employees have to knowledge of daily
see tasks

(Benchmark: No Benchmark) Visual Create an account on

Communication When 2 Work, which is
(Rationale: Employees are wasting an app that allows
work time due to lack of knowledge employees to contact
on occupied materials shared among each other and discuss
employees ) the schedule of their
daily tasks.

2. To increase tenant satisfaction by Management Upper management

20% by December 31, 2021. Strategy should evaluate,
determine and create a
(Benchmark: N/a) Second hand list of ranked job
Information importance to
(Rationale: Lack of communication communicate the order
on prioritization of important tasks in which tasks should be
leads to tenant frustration due to completed
longer wait times. If employees knew
the level of importance of daily tasks, Monthly/quarterly
tenant attitudes towards company will emails.
improve.)
Electronic message
reminders about the
tenants lease and when
their contract expires.

Improve management
strategy

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3. Increase demand for storage units Research strategy Advertisements in Tri-
by 10% in returning college student- Towers and the Athletic
athletes by Jan. 1, 2021 Incentive strategy Study Center

Advertising strategy Contact student athlete

(Benchmark: 20% of student-athletes
said that they were interested in council to inform
Social media
leasing a storage unit.) student athletes about
storage unit referral
(Rationale: With knowledge student program
athletes are returning back to campus
for the Spring season, we sought to
increase demand by 10%)

4. Increase amount of communication Two-way Draft informational

with current tenants to improve
customer knowledge by x % over a
year, measured quarterly starting Jan.
1, 2021
(Benchmark: Secondary research
provided by current tenants.)
(Rationale: Lack of communication
leaves tenants uninformed on
company updates such as prices and
promotions.)
communication emails to update tenants
on important company
events and changes.
Implement a feedback
program to evaluate
customer satisfaction
and knowledge of the
company.

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 5. Increase brand Selective Exposure Create content on ISU
awareness across ISU Athletic Facebook page
student athletics by 40% Social Media that informs students of
by the end of 2021 storage unit referral
Partnership program
(Benchmark: 4% of student athletes were
aware of Fosters LLC) Post advertisements at
events in Redbird Arena to
reach college athletes
(Rationale: Increasing the awareness
among the demographic provides an
Create and distribute
opportunity to build customer base and
informational
increase brand knowledge within the
advertisements in Tri-
target
Tower elevators to reach
target audience

6. Increase the number of Advertising campaign Promote referral program

student athlete leased
storage units by 200% at
the end of 2021.
(Benchmark: 1 current student athlete
leased storage unit)
through ISU athletic teams
Audience
Participation through Use testimonials from
ISU sports teams current athletic occupant
to display positive
experiences with company

(Rationale: Increased occupation of

storage units would generate more
revenue for the company)

3.2 Critical Success Factors

This table shows the objectives and the four critical success factors that could positively and
negatively affect Foster Companies.

Objectives Opportunities Barriers Environment Resources

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Decrease role Conduct weekly Missed meetings Office meeting Access to
ambiguity by staff meetings to due to external space to more whiteboard in
20% among distinguish roles threat such as clearly get office space to
employees and sickness/time off points across communicate
during daily responsibilities
tasks to increase Poor attitude or When 2 Work
overall attention mobile application
efficiency by towards to remind
December 31, meetings could employees of
2021. hinder retention scheduled meeting
of information times

To increase Email updates to Failure to check Office space When 2 Work

tenant tenants to keep email daily by dedicated to mobile application
satisfaction by them informed employees daily planning to send daily
20% by and satisfied. agenda
December 31, No service on
2021. Post daily phone for Access to
agenda to employees company email
communicate addresses
the prioritization
of tasks to Failure by
satisfy specific management to
tenant needs effectively
communicate
agenda

Page 15 of 22
Increase demand Create Limited access Tri-Towers, the Advertising
for storage units
customer into Tri-Towers dorm that software
by 10% in
returning college feedback houses student
student-athletes program to Failure to carry athletes Paper to print
by Jan. 1, 2021 evaluate the 3
out promotion advertisements
response Athletes are
required to go Email contact
Send important to the student with head of
updates on athletic study Athletic Student
storage units center Council
Increase amount via email
of
communication Create Failure to Company and
with current consumer Wi- Customer
customer check email on
tenants to
feedback behalf of Fi to create and feedback
improve
customer program to tenants distribute program
knowledge by x evaluate the 3 content
percent over a Email access
response Failure to
year, measured
quarterly complete
starting Jan. 1, Send important feedback Content created
2021 updates on program with by management
storage units honesty
via email

Increase brand Post People failing ISU Athletic Facebook

awareness
information to check Facebook Page
across ISU
student athletics about Facebook Paper and
by 40% by the organization in Redbird Arena printing for
end of 2021 ISU Athletic Access to during sporting informational
Facebook page Redbird Arena events flyers
during sporting
Post events
informational
flyers during Whether or not
events in events will
Redbird Arena happen due to
COVID-19

Page 16 of 22
 Increase the Contact Athletes not Team practice Email access
number of
coaching staff present during facilities
student athlete
leased storage for sports announcement Facebook and
units by 200% at teams to Social media to other social
the end of 2021. promote Failure of display media platforms
storage unit coaching staff testimonial
referral to read email Email contacts
program or relay the and network
message access
Use current
athlete tenant Athlete’s Verbal
to provide willingness to communication
testimonial for provide
brand testimonial
affirmation
COVID-19
limiting
practice
schedule

3.3 Key Performance Indicators (KPIs)

KPIs are measurable steps for the Fosters Co. LLC to take throughout the plan to ensure a
successful result. The company’s management should periodically use the proposed
measurements and compare them to the benchmark, or the initial point of comparison.

• Objective 1 –Decrease role ambiguity by 20% among employees during daily tasks to
increase overall efficiency by December 31, 2021.
o Benchmark – No current benchmark.
o KPI – Mandate 90% of tasks to be recorded on the When 2 Work mobile app
starting Jan. 1, 2021
▪ Analyze data bi-weekly to ensure work is being completed efficiently
throughout the calendar year
• Objective 2 – To increase tenant satisfaction by 20% by December 31, 2021
o Benchmark – No current benchmark
o KPI – Tenant satisfaction to increase by 5% quarterly over the year, starting Jan
1. 2021.
▪ Evaluate the data per quarter and adjust the percentages accordingly
• Objective 3 – Increase demand for storage units by 10% in returning college student-
athletes by Jan. 1, 2021
o Benchmark – We found from our survey that 20% of student athletes said they
were interested in leasing a storage unit

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 o KPI - Student athlete demand for storage units should increase by 2.25%
quarterly over the 12 months, starting Jan. 1 2021.
▪ Assess the demand by distributing a quarterly survey and adjust the
following percentages based on the quantitative data.
• Objective 4 – Increase amount of communication with current tenants to improve
customer knowledge by x percent over a year, measured quarterly starting Jan. 1, 2021
o Benchmark – Secondary research provided by current tenants
o KPI - Incorporate and distribute feedback program at the start of every quarter,
starting Jan. 1, 2021
▪ Assess tenant knowledge every quarter to evaluate and adjust efforts
accordingly
• Objective 5 - Increase brand awareness across ISU student athletics by 40% by the end of
2021
o Benchmark - 4% of student athletes were aware of Fosters Co. LLC
o KPI - Evaluate monthly post engagements targeted towards student athletes on
Facebook to increase by 3.3% per month over the 12 months, starting Jan. 1,
2021
▪ Assess data monthly and adjust percentages based on post engagements
• Objective 6 - Increase the number of student athlete leased storage units by 200% at the
end of 2021.
o Benchmark - 1 current student athlete leased storage unit
o KPI - Evaluate leases to increase by 1 unit, or 100%, bi-quarter over the span of
the year starting Jan. 1, 2021
▪ Evaluate number of student leased storage units bi-quarterly, and adjust
the percentage based on results.

3.4 Budget & Resource Allocations

The budget for this plan includes Foster Companies internal and external expenses up to date as
of 10/19/2020 (See Appendix C for budget) and is subject to change for the 2020-2021 fiscal
year. The budget also includes expenses from the proposed plan’s tactics in coordination with
proposed objectives in order to achieve desired outcome. The expense numbers are based on
research conducted through similar products and are subject to change. The total proposed
expenses for the 2020-2021 fiscal year will be approximately $50. These expenses will apply in
Objective 1, Objective 2, Objective 4, and any additional unforeseen expenses. The proposed
expenses are low because the vast majority of the tactics proposed in the plan can be achieved by
the revision of current internal resources. In addition to this, the expenses that will occur outside
of those internal resources are low in cost.
See Appendix D for proposed 2018-2019 budget.

3.5 Timeline
If Foster Companies accepts the proposed plan, it will need to follow a rigorous timeline
beginning January 1, 2021. The timeline will be put in place to keep the proposed plan on track
and ensure the necessary steps will be followed. The timeline will give Foster Companies’
management a clear cut schedule of when things should be conducted in order to ensure the best
outcome. The timeline will also be color-coded to separate different objectives and categories in
order for the plan to more easily be followed and executed. It is very important that the plan is
followed as advised to guarantee the best results for the company. The timeline will be interpreted
by management and allow them to delegate work on a weekly basis to achieve the plan’s
completion. Due to many unforeseen internal and external factors, the timeline will be flexible
and subject to change as needed.

See Appendix E for the proposed 2020-21 timeline.

3.6 Evaluation Method & Anticipated Results

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To evaluate the effectiveness of the plan, there must be measurements taken throughout and at the
end of the plan in December 2021. The measurements to evaluate the plan’s effectiveness include:
measuring employee role ambiguity with job efficiency, collecting qualitative data from quarterly
tenant evaluations on internal communication and tenant knowledge, using recorded data metrics
to track media engagement, ensure increased tenant occupation by measuring the number of
vacant units at the end of the 2021 calendar year. These measurements are in correspondence with
the KPIs that should be measured throughout the duration of the plan. See Section 3.3 for KPIs
and benchmarks and section 3.5 for proposed Timeline.
• Objective 1 – To decrease role ambiguity by 20% among employees during daily tasks to
increase overall efficiency by December 31, 2021.
o If 90 percent of tasks are mandated and assessed bi-weekly on the When 2 Work
mobile application, and role ambiguity is decreased by 20 percent by the end of
Dec. 31, 2021, then the objective was successfully met.
o If the objective is unsuccessful, adjust the method and change the frequency of
messages to be sent out weekly.
• Objective 2 – To increase tenant satisfaction by 20% by December 31, 2021.
o If tenant satisfaction increases by 5 percent every quarter over the 12 month
duration or totals at 20 percent by the end of the 2021 calendar year, then the
objective was successfully met.
o If the objective is unsuccessful, adjust management strategy for the following
calendar year to reach the conversion goal for the 2021 calendar year.
• Objective 3 – Increase demand for storage units by 10% in returning college student-
athletes by Jan. 1, 2021
o If the student athlete demand for storage units increases 2.25 percent per quarter
or totals 10 percent by the end of Dec. 31, 2021, then the objective was
successfully met.
o If the objective is unsuccessful, adjust the efforts associated with increasing the
demand for storage units among student athletes (i.e. advertisement strategy,
contact communication strategy) for the following calendar year.
• Objective 4 – Increase amount of communication with current tenants to improve
customer knowledge by x percent over a year, measured quarterly starting Jan. 1, 2021
o If the feedback program is successfully implemented at the start of every quarter
and tenant knowledge is increased by x percent by the end of the 2021 calendar
year, the objective was successfully met.
o If the objective is unsuccessful, use results from the feedback program to adjust
message content accordingly and distribute information monthly.
• Objective 5 – Increase brand awareness across ISU student athletics by 40 % by the end
of 2021
o If the post engagement by ISU college student athletes increases by 3.3 percent
each month or totals 40 percent by the end of 2021, the objective was
successfully met.
o If the objective is unsuccessful, adjust social media and advertising tactics
targeted towards ISU student athletes (i.e. Facebook posts, Advertisement content
and placement) to reach the increase for the following year.
• Objective 6 – Increase the number of student athlete leased storage units by 200% at the
end of 2021.
o If the amount of ISU student athlete leased storage units increases by 1 unit bi-
quarterly, or 100 percent, the objective was successfully met.
o If the objective is unsuccessful, adjust efforts associated with increasing the
number of ISU student athlete leased storage units (i.e. advertising campaign,
content and channel of communication).

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Appendices

A. Foster Companies Organizational Chart

Fosters Companies LLC

Organization Chart
November 6, 2020

Page 20 of 22
B. Foster Companies Budget

Page 21 of 22
References

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HOME. (n.d.). Retrieved November 07, 2020, from https://www.fostercompaniesllc.com/

Home: Hermes Property Management. (n.d.). Retrieved November 07, 2020, from https://
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Market Analysis Request. (n.d.). Retrieved November 07, 2020, from https://
www.cbcworldwide.com/properties/find?locationId=CILNORMAL

Self Storage Units for Rent in Normal, IL: Twin City Self Storage. (2020, October 07). Retrieved
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eagle-rd/

Smudde, P. M. (2015). Managing public relations: Methods and tools for achieving solid success.
New York: Oxford University Press

Storage Units: 2717 N Main St, Normal, IL. (2020, August 27). Retrieved November 07, 2020,
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Uncle Bill's Self Storage of Bloomington Normal. (n.d.). Home. Retrieved November 07, 2020,
from https://unclebillsstorage.com/

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