The cost for insurance (general liability, workers compensation and property casualty) coverage at a total premium $2,400. Performs cash management, general ledger accounting, and financial reporting, Responsible for developing and managing financial systems and policies, Ensuring compliance with taxation legislation, Handles all financial transactions for the organization, Serves as internal auditor for the organization, Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level, Through interaction with customers on the phone, uses every opportunity to build clients interest in the companys products and services, Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner, Consistently stays abreast of any new information on the organizations products, promotional campaigns etc. Regina Trent School Supplies Company, LLC is a registered distribution company that will be involved in the distribution of teaching resources to schools and retail centers. Startup costs are relatively low, and the gross margins from both product sales and service-based income is relatively high. A company's weaknesses may put it at an insurmountable disadvantage sometimes. First, match your business' strengths to your opportunities to combat threats. The payment policy adopted by Regina Trent School Supplies Company, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America. They are four categories you need to reflect on to evaluate your current situation and whats needed to meet your goals. The school has insufficient funds to launch extra-curricular programs like sports equipment, sports ground, gymnasium, etc. The answer to this question might change based on the size, industry, or focus of your business. Thats why the weakness/failure question tends to make many of the candidates feel ill at ease. Make a list of weakness/failure responses so you dont have to come up with answers off the cuff. These stores frequently carry a wide selection of educational materials and decorations for classroom teachers such as books, pencils, pens, etc. What are your greatest management weaknesses? Find out more about scholarships for new students. The new programs would improve the performance of students and bring the appreciation and admiration of parents and families. All articles are edited by a PhD level academic. Questions about weaknesses and failures should not be feared. Sitemap, competitive advantage and minimize instability, Strengths: Whats going right for the school, Weaknesses: Whats holding the school back, Opportunities: The positive changes for your school, Threats: Where weaknesses develop for your school, You do a SWOT analysis of your school because, What is PESTLE Analysis? Other Useful Articles for Startup Entrepreneurs. Some of the prominent weaknesses of any school that you should consider are as follow; The school management wont see them as weaknesses, but theyre a great concern for parents and families. The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. Come to think of it, starting a school supplies business is profitable, it is a very easy business to start and it is not so capital intensive especially if you get the goods on trust from the production companies. No, creating a SWOT analysis isn't a task they assign in the police academy; it's a common, foundational business tool. Lack of funding for specific sports/programs. The exercise helps you examine your business from a fresh perspective and identify what actions you can take to make it better. These businesses can also only be provided on a local level. Your interviews and essays may include some variation of the following questions: So what is the right way of addressing questions about your strengths, weaknesses, and failures? Related: Opportunity Examples for a SWOT Analysis. We tell you what you need to know to get started. Manage external research and coordinate all the internal sources of information to retain the organizations best customers and attract new ones, Model demographic information and analyze the volumes of transactional data generated by customer purchases, Identify, prioritize, and reach out to new partners, and business opportunities et al, Identifies development opportunities; follows up on development leads and contacts, Responsible for supervising implementation, advocate for the customers needs, and communicate with clients, Document all customer contact and information, Represent the company in strategic meetings, Help increase sales and growth for the company, Responsible for installing and maintenance of computer software and hardware for the organization, Manage logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems. Turning away customers has hindered new business. Want to see all the degrees WGU has to offer? (10 Features & Stereotypes), What do Spanish People Look Like? The Office Supply Store Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Therefore, its important that you should be aware of the threats. Before you get too far along in your plan to open a school supplies retailer, a smart move is to investigate whether franchising might be worth investigating. Experts project the industry to grow at a -2.0 percent annual rate within 2013 and 2018. SWOT (strengths, weaknesses, opportunities, and threats) analysis is a framework used to evaluate a company's competitive position and to develop strategic planning. The system of schooling has designed the education in the form of series of schools. SWOT stands for strengths, weaknesses, opportunities, and costs. Responsible for preparing financial reports, budgets, and financial statements for the organization. Mathematics Education (Middle Grades) B.S. Step 2: Weaknesses. Their small advertising budget limits their exposure. Other than that, hes a fun loving person. There are weaknesses that sound authentic. Below is a sample school supplies business plan template that will give you the needed guide to write yours with ease. Office Supply Store Business Plan, Marketing Plan, How To Guide, and Funding Directory. These additional resources regarding starting a business may be of interest to you. If you don't have a business plan, your leadership will be handicapped, choosing short-term . In a SWOT Analysis, weaknesses are written in the top right quadrant. Threats are things outside of your control that harm your business. What are you doing that you shouldn't be doingand what aren't you doing that you should? You're in charge of your college educationbut you're never alone. First, understand your . The gross margins generated from products typically ranges anywhere from 40% to 70% depending on the type of product sold. Many people have different approaches to this question. Common business weaknesses Weak, fragmented company culture Lack of product differentiation Low efficiency and high waste Poor customer service Unregulated and unplanned growth Slower to market than competitors Rigid structure that reduces agility No diversification Leadership limitations such as lack of self-awareness Additionally, many online-based retailers are able to provide a substantial number of inventories at a relatively low cost to customers throughout theUnited States. As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. Nursing Education (RN-to-MSN Program) M.S. Other start-up expenses including stationery ( $500) and phone and utility deposits - ( $2,500) Operational cost for the first 3 months (salaries of employees, payments of bills et al) - $60,000. By buying a profitable school supplies retailer, you'll shorten the amount of time it takes to achieve a return on your investment because you'll have the advantage of a proven operation and an existing customer base. There are more than 50 veterinary offices in the area that could help cross-promote the business. What can you improve? Teaching, Mathematics Education (Secondary) M.A. However, vocational schools and colleges start after secondary schools. Saying things likeI amtoo smart, or, I am too effective will inevitably signal to the admissions officers that you are not being sincere. Please note that the above projection might be lower and at the same time it might be higher. For example, an IT consulting firm that learns from unhappy clients and failed projects verses one that pretends every engagement was a success. But you shouldnt hesitate to point out the weaknesses. An office supply store SWOT analysis should be produced as well in order to showcase the strengths, weaknesses, opportunities, and threats faced by these businesses. Conclusion. Prepare. When asked such questions, students should look for balance; otherwise the answer will come across as incomplete and glossed over. With this type of business, you can choose to own a store/warehouse if you have the financial capacity to or you can choose to operate without a store. A broader trend toward ecommerce has been particularly pronounced in this industry, which resulted into encouraging more consumers to circumvent retailers and the wholesalers that supply them. Colleges and universities are for higher educations. The school supplies wholesaling industry has a wide range of customers. To help you prepare for such an assignment, here's an example of a SWOT analysis that we've created for a hypothetical petsitting service called VIP Petsitters, a small business owned by two veterinary technicians in Charlotte, North Carolina. The high gross margins generated from service income allows these businesses to produce substantial profits. At WGU, your experience is our obsession! For threats, and economic recession can have an impact on office supply stores given the fact that third-party businesses may cease to operate and no longer require office supplies. We will ensure that we hold ourselves accountable to the highest standards by meeting our clients needs precisely and completely. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry. We're emailing you the info on getting your transcripts sent to WGU for free. Just like any other business, one of the major threats that we are likely going to face is economic downturn. SWOT Analysis. Defining job positions for recruitment and managing interviewing process, Carrying out induction for new team members, Responsible for training, evaluation and assessment of employees, Responsible for arranging travel, meetings and appointments. As you analyze these four categories, you determine the areas of your business most in need of improvement and make strategic plans to strengthen your business. What are your strengths and opportunities? Businesses of every size perform SWOT analyses, and nearly every business program assigns practice SWOT analyses to students. These interviews should be of interest to you. High costs of local radio and newspaper advertising. Graduate Degrees and Degrees for Teachers. Check out:Interview Preparation Tips for B-School Admission. A SWOT analysis is a critical component of every business' evolution. By submitting you will receive emails from WGU and can opt-out at any time. Private schools or non-government schools come to aid when the government schools dont provide sufficient or required education. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, and so a SWOT analysis is a technique for assessing these four aspects of your business. We will make sure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all our stakeholders. Once the initial market has been developed to its maximum capacity, and office supply store can expand by simply establishing additional locations. Business Management B.S. Businesses in the School Supplies Wholesaling industry are involved in the sale and distribution of office tools, writing implements, stamps and stencils, stationery and loose-leaf paper, notebooks, binders and organizers and other related items. Operational cost for the first 3 months (salaries of employees, payments of bills et al) $60,000, The cost for Start-up inventory (stocking with a wide range of office tools, writing implements, stamps and stencils, stationery and loose-leaf paper, notebooks, binders, organizers and other related items) $100,000, The cost for store equipment (cash register, security, ventilation, signage) $13,750, The cost of purchase and installation of CCTVs $5,000. Your Business Planning Package will be immediately emailed to you after you make your purchase. Marketing promotion expenses for the grand opening of Regina Trent School Supplies Company, LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580. Staff unable to meet with parents. Locate School Supplies Retailers Near You, Find School Supplies Retailer Owners Who Might Advise You, Interview with Sandra Ann Harris, Founder of ECOlunchboxes, Lists of Venture Capital and Private Equity Firms, Opening a School Supplies & Equipment Retail Business. It is a fact that economic downturn affects purchasing / spending power. Regina Trent School Supplies Company, LLC is in the School Supplies Wholesaling industry and we will be involved in the distribution of a wide range of products from top manufacturing brands in the United States. The total cost for warehouse facility remodeling (construction of racks and shelves) $20,000. Regina Trent School Supplies Company, LLC is a private business that is solely owned and financed by Regina Trent and her immediate family members. From our market research and feasibility studies, we were able to come up with the following financial projections and costing as it relates to establishing a standard school supplies business in the United States of America; We would need an estimate of $350,000 to successfully set up our school supplies business in Los Angeles Unified California. Here are a few tips. Enhanced reports of cyberbullying. As an Amazon Associate I earn from qualifying purchases. Will give you the info on getting your transcripts sent to WGU free... After secondary schools for warehouse facility remodeling ( construction of racks and shelves ) $ 20,000 highly creative customer. That economic downturn affects purchasing / spending power has designed the education in the form of series of.. After you make your purchase, How to guide, and nearly every business ' strengths your. Responses so you dont have to come up with answers off the cuff a range! 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