Introduction to the business
Name of business: Kama - House of Exotic Decor
Location: 52 Elbow St, WEST KEMPSEY 2440
Type of business: Partnership.
Reason for starting business: Interest of owners.
Main objectives and goals of the business: The main goal of the business is to occupy its owner's time.
Mission statement: To be creative and to teach others how to be.
Personal reasons behind starting the business: The business was started for investment purposes.
Was market research used? Market research was used. The manager/partner available at the time was not involved in this side of the business and the other partner/manager was unavailable.
Products sold: Exotic dÃÂ©cor and beads
Competition: Tracey's soap and things.
Type of society business operates in: Low income area
General economic conditions experienced: A low at the present time
Financed by: Loan
Current financing arrangements: There are no financing arrangements in place at the present time.
Capital equipment owned by the business: All business equipment is leased.
Building: The building the business operates in is leased.
Management skills: The owners have marketing skills. When questioned further they did not wish to elaborate.
Staff: At the present time no staff are employed by the business because it is the owners hobby business and they are not required.
Operation of the business
Forms of promotion: The only form of promotion the business uses is that on the building. It relies on word of mouth.
How is stock controlled: Stock is brought on demand.
Support supplied to goods sold: Stock sold is not refunded. It is though replaced.
Quality controls: The store only buys proven quality goods.
Management structures in place: Tasks are shared equally between the two managers and things are done in a team approach.
Location in life cycle phase: The business is currently in...