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An established business, Rockstar Novelties Company, provides a variety of services and goods (Zhang, 2013). The business sells a range of novelty goods, including items for weddings, graduations, and other joyous occasions.
Along with the things mentioned above, Rockstar Novelties Company also creates a variety of other top-quality products on the market, such as Tupperware food containers, water bottles, coffee mugs, cups, beer glasses, and wine glasses. The firm is run from a home office. Rockstar Novelties Company currently has a small team and minimal overhead (Austin et al., 2017). A limited number of resources such as staff do not limit the company for serving a more extensive range of customers in the market. Its ability to help numerous clients is based on its newly revamped and excellent look (Zhang, 2013). The hours of operation are daily on weekday bases as from Monday to Friday from morning to evening. Business hours can be extended depending on the occasion such as exhibitions and trade show events. All services and products are supplied only according to the company’s objectives, goals, mission, customer’s wants, and customers focused profile. The fundamental goals of the firm are to render the variety of items at an insignificant cost (Zhang, 2013).
The management of Rockstar Novelties Shop constitutes the provisional management team (Zhang, 2013). The administration is granted to monitor the growth of the retail shop, and a vital making-of improvement, as well as how business can maneuver. The organizational structure of the company is well structured and dynamic since most personnel are involved in critical decision making. The three main functioning management groups within the business are shareholders and stakeholders who are mandated for day to day running of the business (Blank, 2013).
Rockstar Novelties is a themed merchandise service and product focused company (Blank, 2013). The main chore of Rockstar Novelties is to make sure that its products have excellent property and capacity to keep up with the most modern trend and needs in the market. The company products can group into respective classes (Pöysä, 2017). Rockstar Novelties-Themed Stationary or Novelties is a category which includes water bottles, Tupperware food container, beer glasses, wine glasses and cups. Apart from that group, the company also provides arts and crafts services which constitute more than 20% of total merchandise displayed in our shop (Pöysä, 2017). Others goods are books; these majorly describe Rockstar Novelties Company. Our product description list fits our clients’ needs as it is accustomed. Our product pricing is adjusted to accommodate desires of our clients as well as to enable best charges of each product (Aarnio, 2017). All products are of high quality and quantity, as managers are accountable to check items on arrival and before clients take them.
The business does not limit clients’ choice or options as it offers different categories of items which suit their needs. For instance, the company offers three varieties of Tupperware food containers or five different designs of beer glasses. The competitive comparison position of the company when narrowed is at a forte segment in the market (Aarnio, 2017). However, our best product mixes categories include water bottles, water glasses, and other establishments within the market gap. Out of various studies, product mix has been found to be the best and actively meeting the unique needs of our customers. Regarding technology, the company has acquired SKU because of the increasing tendency of our inventory (Austin et al., 2017).
The Rockstar Novelties has recognized more than two distinct market niches. The market niches include neighbors, tenants, and visitors within our shop (Austin et al., 2017). There are approximately 200 shops around the company and more than 3000 visitors daily. These means with the primary target clients the company will receive more disposable income. The secondary target market is the surrounding occupants in the area, who often visit Rockstar Novelties shop, during morning and evening hours to meet their friends and colleagues (Zhang, 2013). Finally, the last target groups of clients are the visiting guests. The market segmentation of tenants includes Rockstar Novelties employees, who seize the most active part of our market (Austin et al., 2017). The tenants comprise the largest segment of our large target market with over 60% of the market. Neighbors are the second potentially segmented of our market. The last parts of the market are guests and visitors who are well cultivated, but in the meantime, it will be the best market for the company's products and services (Zhang, 2013).
The operation and control system of the company will be reliable to stakeholders and shareholders (Pöysä, 2017). The top-most structured control system of the business is the shareholder as they collaborate with the managing team to make critical decisions. The decisions made by shareholders may affect stakeholders either negatively or positively. The management team comprising the board of directors and supervisors will be in charge of critical decision making (Zhang, 2013). The team also makes sure that the company is running efficiently and smoothly. Managers will be mandated to check the products on arrival and before the delivery of products to clients, both international and home-based clients (Austin et al., 2017).
The company has adopted various strategies in its new development and growth plan. Rockstar Novelties Company brings in an international website with a robust domain security system that will allow consumers to shop online (Blank, 2013). The company has utilized the site to enable both foreign and home-based clients to view the products and services being offered by the company. Growth and development requirements will bring in the optional cost that Rockstar Novelties will incur in developing its consumer's website. The cost includes website development costs and ongoing costs for search engine registration and site design changes (Austin et al., 2017).
The preliminary funds, from prospective investors, enable the company to pay the employees on time as well as, to revamp the shop (Austin et al., 2017). With sophisticated marketing strategies and outreach to clients who are outside occupants, Rockstar Novelties Company has kept the cost to a minimal rate by increasing the number of full-time employees. Directors and supervisors, who will oversee the company's operation, will be paid directly by our initial investors. Startup monetary value from the shareholders will be approximately USA $200,000 to start the business (Zhang, 2013). Initial capital is a priority as it is crucially important for the business to go on to the next step of development (Pöysä, 2017). The remainder of the initial funds will be required for the purpose of continuity of the operation of the business (Blank, 2013). The company will start to pay dividends to investors after one year of its full services. Sources of funds include cash flow surpluses and a mortgage. The company will return to high profits and gross margin after the acquisition (Zhang, 2013).
Several documents are a result of numerous business transactions (Zhang, 2013). The Company documents include the sales forecast, total sales, personal plan, entire people, pro-profit and loss, pro-cash flow, current subtotal liabilities, total liabilities, total liabilities and capital. Pro-forma balance sheet and subtotal cash received indicate the approximate amount earned in a month (Zhang, 2013). The sales forecast points out monthly sales of different items such as Tupperware food containers, cups, water bottles, beer bottles among other products. Total sales specify monthly direct sales, while personnel plan includes records of store staff, and marketing or store manager staff. The entire people documents show monthly payroll for both staff and marketing manager (Austin et al., 2017).
Pro-forma profit and loss is a monthly record of gross profit and loss made from sales, the direct cost of sales, and other costs of sales (Austin et al., 2017). The total cost of sales documents entail the gross margin, gross margin percentage, expenses, payroll, marketing or promotion, depreciation, rent expenses cost, liabilities, total operating, profit before interest and taxes, taxes incurred, interest expenses, net profit, and net profit sales (Aarnio, 2017). Pro-forma cash flow indicates cash received from operations and cash sales. The Pro-forma balance sheet of a company means the total summation of total capital, total liabilities and equity, total obligations as well as the overall assets, total long-term assets, and total current assets at a given period (Aarnio, 2017).
Aarnio, H. (2017). International Digital Marketing Strategy as a Growth Opportunity: Case: Finnish startup.
Austin, J. M., Black, B., & Pronovost, P. J. (2017). A Standard-Setting Body for US Health Care Quality Measurement. American journal of medical quality, 1062860617741977.
Blank, S. (2013). Why the lean start-up changes everything. Harvard business review, 91(5), 63-72.
Pöysä, A. E. (2017). Business plan for the wilderness guide cooperative Äes (Doctoral dissertation).
Zhang, Z. (2013). Business English students learning to write for international business: What do international business practitioners have to say about their texts?. English for Specific Purposes, 32(3), 144-156.
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