Strict and inflexible. Simply, try our helpful link below, type in a random city/state or zipcode, and start calling. At WGU, your experience is our obsession! In view of that, we have positioned our school supplies company to service schools and retail centers in Los Angeles Unified California and every other location we will cover. Where is your competition outperforming you? However, an entrepreneur who owns a school supplies retailer in a different city can be a great learning resource for you, once they realize that you are not going to directly compete with them in their community. Questions about weaknesses and failures should not be feared. Enhanced reports of cyberbullying. Below are the sales projections for Regina Trent School Supplies Company, LLC, it is based on the location of our business, the list of school supplies and other factors as it relates to school supplies startups in the United States; N.B: This projection was done based on what is obtainable in the industry and with the assumption that there wont be any major economic meltdown and there wont be any major competitor offering same products and customer care services as we do within same location. Weaknesses - Factors that are likely to have a negative impact on (or be a barrier to) achieving the school's objectives Opportunities - External Factors that are likely to have a positive effect on meeting or exceeding the school's aims, or goals not previously considered Cite this Article in your Essay (APA Style), Privacy PolicyTerms and ConditionsDisclaimerAccessibility StatementVideo Transcripts. This will allow the companys website to appear far more frequently in searches. This ensures an ongoing stream of revenue on a month-to-month basis. Graduate Degrees and Degrees for Teachers. These businesses can be highly lucrative for an entrepreneur that understands retail and how to develop a market for their products with a focus on business-to-business operations. He holds a PhD in education and has published over 20 articles in scholarly journals. A demographic profile outlining the types of businesses that will be targeted should also be included as this will be used in conjunction with the companys marketing plan. In view of that, we have decided to hire qualified and competent hands to occupy the following positions that will be made available at Regina Trent School Supplies Company, LLC; Our intention of starting out in Los Angeles Unified and distribute our goods only within the are is to test run the business for a period of 2 to 5 years to know if we will invest more money and then expand all around the state of California. The last thing they want to do is help you to be a better competitor. We have robust distribution network; strong online presence and our distributors are armed with the various payment options available in the United States. Regina Trent has a B.Sc. Teaching, Science Education (Secondary) M.A. The industry is responsible for the employment of over 2,698 people. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, and so a SWOT analysis is a technique for assessing these four aspects of your business. 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. Photos courtesy of the individual members. Our sample company, VIP Petsitters, is successful at: In this part, focus on the negative things about your business that you can actively change. Practicing how to conduct and evaluate one in business school is key to being prepared to tackle one in your future career. Step 1: Strengths. The high gross margins generated from service income allows these businesses to produce substantial profits. Seek out new investors and funding for programs. Make a list of weakness/failure responses so you dont have to come up with answers off the cuff. Engage on roadshows within our neighborhood to create awareness for our school supplies business. These are weaknesses that are so . SWOT can also uncover areas of the business that are . Regina Trent School Supplies Company, LLC is a family business that is owned by Regina Trent and her immediate family members. As it relates to strengths, office supply stores are able to generate highly predictable streams of revenue on a monthly basis. Let's break down each step of the SWOT analysis: 1. We hired experts who have good understanding of the retailing and distribution industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Los Angeles Unified California. Conducting a SWOT analysis. Our focus on your success starts with our focus on four high-demand fields: K12 teaching and education, nursing and healthcare, information technology, and business. Part of the challenge consists in the need to discuss failures and weaknesses without making them look bad on your b-school application. Business Administration, Healthcare Management B.S. Make a list of weakness/failure responses so you don't have to come up with answers off the cuff. SWOT analysis assesses internal and external factors, as well as current and future potential. Regina Trent School Supplies Company, LLC is a private business that is solely owned and financed by Regina Trent and her immediate family members. This business plan should feature a three year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. Even though you are talking about failure, the overall tone has to be positive, and blaming others would inevitably overshadow the picture you are painting of yourself. A winery business, for example, might be threatened by pests or weather, while a restaurant might be threatened by the high cost of supplies. Our customer care is going to be second to none in the whole of Los Angeles Unified California and our deliveries will be highly reliable. The matrix looks at positives and negatives in the following four categories: Use the SWOT analysis template to brainstorm and reflect on how to achieve your goals. A school is an institution that offers a learning space and environment for the teaching and learning of a student under the guidance of a teacher. Threats are things outside of your control that harm your business. And of course, much more. Before you make another business decision and before you start writing a business plan, you need to create a mission statement. When there is an unstable economy, purchasing power drops and it impacts the retailing / distribution industry negatively which may result in the closure of some of these businesses. Dr. Chris Drew is the founder of the Helpful Professor. If YES, here is a complete sample school supplies business plan template & feasibility report you can use FREE. Required fields are marked *, This Article was Last Expert Reviewed on February 17, 2023 by Chris Drew, PhD. Weaknesses are particularly noteworthy if they prevent you from achieving your 'mission' (even if that's just earning money), or make doing so more difficult. Low market share, poor company culture, no full-time staff, language barriers. The gross margins generated from products typically ranges anywhere from 40% to 70% depending on the type of product sold. These businesses can also only be provided on a local level. Increasing competition in the area trying to capitalize on the growing dog-owning population. Each letter of the SWOT acronym represents an area to study: strengths, weaknesses, opportunities, threats. A SWOT analysis is a critical component of every business' evolution. Some of the key elements that you should consider while analyzing the school are as follows; Sometimes, its difficult to find the weaknesses because we tend to overlook or avoid them. Some weaknesses are just indefensible. Nursing Nursing Informatics (RN-to-MSN Program) M.S. The school supplies wholesaling industry has a wide range of customers. We are aware that there are several school supplies companies all around Los Angeles- California which is why we spent time and resources to conduct our feasibility studies and market survey so as to offer much more than our competitors will be offering. While a marketing and advertising firm can be expensive, they can eliminate many of the common mistakes that newer entrepreneurs make when showcasing their business to the general public. Here are a few tips. Office supply stores are going to continue to remain in demand at all times. What will the admissions committee perceive to be your greatest weakness as an applicant? Prior to opening your doors for business, be sure you fully understand the competitive landscape and where your new business will fit in. Admissions officers are looking for candidates who evince superior self-understanding and who are fully aware of their strengths and weaknesses. How can you use these opportunities to increase the schools strengths (from the list you created?). Nursing Leadership and Management (RN to-MSN Program) M.S. As such, it is common to brainstorm weakness as part of strategic planning activities such as swot analysis. In the right-side-up world, strengths remain strengths . We know that if we diligently put in place all that is stated above, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams. Here are the platforms we intend leveraging on to promote and advertise Regina Trent School Supplies Company, LLC; Pricing is one of the key factors that gives leverage to distribution companies and retailers, it is normal for retailers to purchase products from distribution companies where they can goods at cheaper price. Regina Trent School Supplies Company, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Given the level of competition within this industry, it is imperative that a smaller office supply store find ways to effectively differentiate themselves from the competition. Multiple pet-centered events occur each year, and they invite local pet-focused shops to advertise at them. Make use of attractive hand bills to create awareness business, Position our signage / flexi banners at strategic places around Los Angeles Unified California, Create a loyalty plan that will enable us reward our regular customers. They are four categories you need to reflect on to evaluate your current situation and whats needed to meet your goals. The bottom line is that you must own your own distribution truck/van, you should know how to source for school supplies and how to get them delivered to your customers. If you have been keeping close tabs with happenings in the School Supplies Wholesaling industry, you would have noticed that the industry has struggled over the five years to 2018 with low demand and declining supply-chain relevance. Customers were turned away because the company was overbooked. In addition to that, brick-and-mortar retail sales have increasingly shifted to big-box department and discount stores who also retail school supplies. 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. Ensure to identify specific skills and competences that you want to improve or acquire in order to achieve your long-term goals. Related: Strengths Examples for a SWOT Analysis, Enjoy subscriber-only access to this articles pdf. One thing is certain; we will ensure that we have a wide range of products available in our warehouse at all times. 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. 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. as well as with company policies and procedures. Below is a sample school supplies business plan template that will give you the needed guide to write yours with ease. 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