Goal: To complete our team project and get the best grade in the class. You might even find something that points you in a completely different direction. Please note that the above projection might be lower and at the same time it might be higher. Graduate Degrees and Degrees for Teachers. Stubborn, disorganized, poor language skills, poor time management, unprepared. Hiring more petsitters would also allow the business to serve more customers. Interview Preparation Tips for B-School Admission. We know that one of the ways of gaining approval and winning customers over is to distribute our school supplies a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while. About The Helpful Professor The high gross margins generated from service income allows these businesses to produce substantial profits. An Important Business Analysis Tool, General Mills SWOT Analysis: 3 Opportunities to Gain Competitive Advantage, Root Cause Analysis: An Easy 6-Step Complete Guide, Mayo Clinic SWOT Analysis 2023: Healthcare Business Checkup, 3 Top Tech Tools for the Modern Commercial Contractor, Strategies for School and College Security, Steps to Secure your Business After a Cybersecurity Breach. Business Administration, Healthcare Management B.S. No, creating a SWOT analysis isn't a task they assign in the police academy; it's a common, foundational business tool. Below is a sample school supplies business plan template that will give you the needed guide to write yours with ease. Check out the WGU Blog! Before you make another business decision and before you start writing a business plan, you need to create a mission statement. A search engine optimization firm can be hired to assist the office supply store with developing a website that can very quickly be found when a person searches for specific office supplies in a specific local market. They do not intend to welcome any external business partner which is why she has decided to restrict the sourcing of the startup capital to 3 major sources. Or maybe your community is holding an upcoming trade show or market that you could benefit from. It is very important within the business plan is to have a thorough competitive analysis given that there are a number of big-box stores that provide office supplies on a nationwide basis. Presenting yourself as someone who is self-aware and is able to self-assess will considerably increase your chances of admission. Saying that you are lazy, arrogant, or overly aggressive is tantamount to shooting yourself in the foot. Colleges and universities are for higher educations. One way to handle the threat of increased competition is to partner with local vets on a referral program. 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 A SWOT analysis is a critical component of every business' evolution. 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. For example, an IT consulting firm that learns from unhappy clients and failed projects verses one that pretends every engagement was a success. Such a response will not work and it may even irritate the person who is interviewing you or reading your essay. Does customer feedback highlight areas for improvement? The industry is responsible for the employment of over 2,698 people. The system of schooling has designed the education in the form of series of schools. Some weaknesses are just indefensible. Conclusion. Now that you've gathered your information, creating a SWOT analysis can help you make positive changes in your business. Manage vendor relations, market visits, and the ongoing education and development of the organizations buying teams, Responsible for the purchase of office tools, writing implements, stamps and stencils, stationery and loose-leaf paper, notebooks, binders and organizers and other related items for the organizations. Teaching, Mathematics Education (Middle Grades) M.A. Learn more about our academic and editorial standards. The cost for the purchase of distribution vans / trucks $25,000, Generate part of the startup capital from personal savings, Source for soft loans from family members and friends. Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) $3,300. Examples of weaknesses for a SWOT analysis might include lack of motivation, lack of a clear vision, or poor time management skills. Regina Trent School Supplies Company, LLC employed the services of an expert HR and Business Analyst with bias in retailing and distribution to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. In the right-side-up world, strengths remain strengths . Doing a SWOT analysis is a well-rounded approach to evaluating your business, looking specifically at strengths . The market research report includes: Historical data and analysis for the key drivers of this industry. What areas are your competitors doing better at? These interviews should be of interest to you. Talking about your weaknesses honestly without undermining your chances of admission is a strength in itself. We've provided the link below to help you get a list of local competitors near you. Easily bored. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers base and distribution network may grow to. The SWOT analysis was invented in the 1960s by Albert Humphrey from the Stanford Research Institute. Part of the challenge consists in the need to discuss failures and weaknesses without making them look bad on your b-school application. Enhanced reports of cyberbullying. Prepare. Admissions officers are looking for candidates who evince superior self-understanding and who are fully aware of their strengths and weaknesses. Many new single-family neighborhoods are currently being built in the city, and that means more dog owners are moving into the city. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you. Lack of funding for specific sports/programs. We are quite aware that there are several school supplies companies all over Los Angeles Unified and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business. See all Health & Nursing Master's Degrees, School of Education Admissions Requirements, College of Business Admissions Requirements, Leavitt School of Health Admissions Requirements. Therefore, its important that you should be aware of the threats. Keep a record of vehicle inspections and make sure the truck is equipped with safety equipment. Its a very important decision for parents and families to choose the right education institute for their child. SWOT stands for strengths, weaknesses, opportunities, and costs. Find out how different WGU is about personalizing and supporting your education. One of our business goals is to make Regina Trent School Supplies Company, LLC a one stop school supplies company. Turning away customers has hindered new business. Because having loyal customers is one of VIP Petsitters's strengths, a loyalty program for customers could ensure that they stick around. Unreliable supply chain, lack of product diversity, product quality, staff training. Im, We are launching products into a crowded market with, Our business has grown to a point that it is. You can give examples and list the things you do to eliminate your weakness. After finishing primary schooling, teenagers enter secondary schools. 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. An assessment of the competitive landscape and market shares for major companies. Increasing competition in the area trying to capitalize on the growing dog-owning population. The best way to avoid citing any of the unacceptable weaknesses mentioned above is to prepare. Nursing Leadership and Management (RN to-MSN Program) M.S. What can you improve? Weaknesses: - Lack of capabilities. The private schools could religious, non-religious, or institutions having higher standards that would focus on the personal development of a student. Want to see all the degrees WGU has to offer? Employing friendly and knowledgeable petsitters. In 50 minutes you will be able to: Determine the strengths, weaknesses, opportunities and threats of your business Distinguish the factors that affect the internal . The last thing they want to do is help you to be a better competitor. to ensure accurate and helpful information is supplied to customers when they make enquiries. Summary. 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. VIP Petsitters could advertise with local pet events to reach more customers. Maintain a logbook of their driving activities to ensure compliance with federal regulations governing the rest and work periods for operators. Photos courtesy of the individual members. 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. They highlight the internal weaknesses that you or your organization need to address to meet your goals. Local-delivery drivers may be required to sell products or services to stores and businesses on their route, obtain signatures from recipients and collect cash. 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. Ahsan Ali Shaw is an accomplished Business Writer, Analyst, and Public Speaker. Consider how you can leverage opportunities to your advantage. We tell you what you need to know to get started. Step 2: Weaknesses. Generating Funds/Startup Capital for Regina Trent School Supplies Company, LLC. IT Certifications Included in WGU Degrees, See all Health & Nursing Bachelor's Degrees, View all Nursing Post-Master's Certificates, Nursing EducationPost Master's Certificate, Leadership and ManagementPost Master's Certificate. Its important that you should know the existing strengths of your school so that you could better analyze and take any improvement actions accordingly. Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups school supplies businesses) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives. The cost for insurance (general liability, workers compensation and property casualty) coverage at a total premium $2,400. Your school supplies will sell at a wide range of prices. The cost for startup inventory - $70,000. Fail to follow through, lack of resilience, lack of ambition, lack of enthusiasm. 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. 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. Mathematics Education (Middle Grades) M.A. We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time. When asked about weaknesses and strengths, one of the most common mistakes students make is spending too much time talking about strengths and allocating very little time (or space, in essays) for their weaknesses. 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. In that case, the business owner may be more than happy to discuss the industry with you. If you can't honestly recognize weaknesses, a couple of helpful paths can take you there. Talk about the lessons learned. These companies are able to generate highly predictable streams of revenue on a monthly basis given that many companies often have ongoing including paper, pens, promotional products, as well as digital media. This could be individual areas that are lacking whether it is in performance, lack of growth, lack of customer service or customer engagement, or lack of resources. Most office supply stores are able to remain profitable and cash flow positive in most economic climates given that the products that are sold are necessities for most businesses. If you do that, you will come off as someone who ducks tough questions. English Language Learning (PreK12) M.A. If you want to tap into an existing brand name and a proven system, your best bet may be exploring going the franchising route. Step 5: Actionable strategies. Strengths: This is where you identify what your business is good at. Check out:Interview Preparation Tips for B-School Admission. Inc. magazine provides helpful tips for using surveys to understand customers better. Lack of financial resources, no marketing plan, no social media presence, no email list. 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. 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. But the objectively smart way to answer is identifying two or three weaknesses that have nothing to do with the job. Regina Trent has a B.Sc. These stores frequently carry a wide selection of educational materials and decorations for classroom teachers such as books, pencils, pens, etc. These additional resources regarding starting a business may be of interest to you. Maybe your business is most successful at stellar customer service or strong leadership. Creating, communicating, and implementing the organizations vision, mission, and overall direction i.e. Maybe you have a hard time retaining employees. We have robust distribution network; strong online presence and our distributors are armed with the various payment options available in the United States. Office supply stores are going to continue to remain in demand at all times. The School Supplies Wholesaling industry is a thriving sector of the economy of the united states of America and they generate a whooping over billion annually from more than 508 registered and licensed School Supplies Wholesaling businesses scattered all around the United States of America. Regina Trent School Supplies Company, LLC is in business to retail (distribute) a wide range of school supplies from top production companies to schools in Los Angeles Unified California. Activate a volunteer committee for school related events. Shop from business cards, office supplies, stationery and more! Even better is that the products sold are non-perishable. These businesses can also only be provided on a local level. They could also hire a part-time employee to increase and manage their social media presence. Prior to opening your doors for business, be sure you fully understand the competitive landscape and where your new business will fit in. 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. What are your strengths and opportunities? Evaluating your SWOT analysis can help you turn your weaknesses into strengths. 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. Which college fits you? Benefits of Buying a School Supplies Retailer. Our mission is to establish a highly reliable school supplies business brand that will distribute a wide range of teaching resources to schools and retail centers in Los Angeles Unified and other cities in California where we intend launching out. https://helpfulprofessor.com/author/admin/, SWOT Analysis Weakness Examples for Students and Individuals, SWOT Analysis Weakness Examples for Businesses and Organizations, What do Portuguese People Look Like? Many countries have laid the foundation of a formal education system where schooling is compulsory in some instances. 28 Personal SWOT Analysis Examples for Students. An advantage over the competition in the current environment. Gaebler Ventures. Bad support network, easily deterred, poor self-belief, fear of failure. The key benefit of writing a business plan is that it establishes both a framework and a roadmap for your business. Something as simple as a bookmark will sell for as little as fifty cents. It is now a common phenomenon for distribution companies to leverage on technology to effectively predict consumer demand patterns and to strategically position their business to meet their needs; in essence, the use of technology has helped businesses like school supplies to maximize supply chain efficiencies. Our warehouse and store will be located around Los Angeles Unified California which happens to be the district with the second highest number of schools (646,683 schools) in the whole of the United States. We are in business to retail (distribute) a wide range of school supplies from different production companies to the following businesses; A close study of the school supplies industry reveals that the market has become much more intensely competitive over the last decade. Here are a few tips. An abundance of co-curricular activities. Our products and services offerings are listed below; Our intention of starting a school supplies business is to build a standard retail and distribution business in Los Angeles Unified California. Science Education (Secondary Chemistry) M.A. Ensure to identify specific skills and . Goal:To deliver long-term growth and dividends for investors. We will engage in the sale and distribution of office tools, writing implements, stamps and stencils, stationery and loose-leaf paper, notebooks, binders, organizers and other related items. Science Education (Secondary Biological Science) M.A. This competitive analysis should focus not only on traditional retailers but also companies that operate in an online capacity. The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and business structure. 1. Today, well discuss the swot analysis of a school. Tell me about a time when you failed to persuade someone of your view. Multiple pet-centered events occur each year, and they invite local pet-focused shops to advertise at them. Heres a swot analysis of a school as follows; The first thing you should do is to write all the strengths and benefits of your school. Supervise the workforce in the warehouse floor. The key benefit of writing a business plan is that it establishes both a framework and a roadmap for your business. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry. Whether you're new to the business world or a veteran, a SWOT analysis is a valuable tool to have in your toolbox. We will work towards ensuring that all our goods are distributed at highly competitive prices compared to what is obtainable in the United States of America. Increases managements effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results and developing incentives. Definition. Regina Trent School Supplies Company, LLC is a family business that is owned by Regina Trent and her immediate family members. Or maybe you don't have enough capital to keep your business humming along. 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. 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. Are you about starting a school supplies company? Before choosing a location for Regina Trent School Supplies Company, LLC, we conducted a thorough market survey and feasibility studies in order for us to be able to penetrate the available market and become the preferred choice for schools, teachers, students and parents in Los Angeles Unified California. This ensures an ongoing stream of revenue on a month-to-month basis. The cost for hiring business consultant $2,500. 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SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Creating a Business Plan for a School Supplies Retailer. However, many new entrepreneurs aren't experienced for the rigors of a startup operation. Cybersecurity and Information Assurance B.S. Humphrey created the SWOT analysis as a brainstorming tool to help people to reflect on the best ways to achieve goals while avoiding problems. Lack of funding for specific sports/programs. Ensures students and teachers have easy and convenient access to tools they need. Related: Opportunity Examples for a SWOT Analysis. In the same timeframe, the number of businesses has declined by -0.2 percent and the number of employees has declined by -3.0 percent. School supplies businesses sell and distribute teaching materials to schools, parents, teachers and students. Business Administration, Accelerated Information Technology Bachelor's and Master's Degree. There are different names for different types of schools in different parts of the world. Dr. Chris Drew is the founder of the Helpful Professor. These businesses also provide a host of services to individuals that operate home-based businesses or people that simply need office supplies from time to time. This part of the application process is also difficult because business school candidates, being professionals and entrepreneurs, are used to presenting both themselves and their businesses in the best possible light. On a percentage basis, more entrepreneurs intend to enter school supplies retailer ownership through a startup than through a business purchase. The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) $4,000. Seek out new investors and funding for programs. Overview: Strengths (SWOT) Type. Blunders occur often here, but addressing the question properly will give you a leg-up in your efforts to get admitted to the programme of your choice. Dont underestimate the weakness/failure questions. Regina Trent School Supplies Company, LLC has a long-term plan of opening distribution channels all around the state of California which is why we will deliberately build our brand to be well accepted in Los Angeles Unified School District area before venturing out. VIP Petsitters, for example, identified that there's an opportunity for cross-promotion with the many veterinarians in the area. If all of these factors are missing from a business (company), then it wont be too long before the business close shop. As it relates to industry research, office supply stores generate about $15 billion of revenue per year among 10,000 retailers throughout theUnited States. First, understand your . Introduce our business by sending introductory letters alongside our brochure to small scale school supplies retailers, schools, teachers, students, households and key stakeholders in Los Angeles Unified California. At some point in business school, you'll likely encounter a SWOT analysis. Here are the payment options that Regina Trent School Supplies Company, LLC will make available to her clients; In view of the above, we have chosen banking platforms that will enable our client make payment for our products without any stress on their part. The exercise helps you examine your business from a fresh perspective and identify what actions you can take to make it better. We have been able to examine the school supplies wholesaling industry, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Responsible for financial forecasting and risks analysis. Here are a few weaknesses to consider for this SWOT analysis: Not enough co-curricular and sports activities. They could hire a student to improve the website at a discount (or offer petsitting services in exchange). We cite peer reviewed academic articles wherever possible and reference our sources at the end of our articles. We wouldn't be in a hurry to get into the market at this juncture, but retain sufficient optimism to suggest buying into market weakness to ride on the upside going into H2 of 2023. Once the initial market has been developed to its maximum capacity, and office supply store can expand by simply establishing additional locations. Science Education (Secondary Earth Science) M.A. Pick out unique binders, folders, business cards and more. This might mean unnecessarily leaking finances, improperly targeting clients, or poorly executing a service, among other things. 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. If you don't have a business plan, your leadership will be handicapped, choosing short-term opportunities at the expense of long-term benefits. Given the economically secure nature of these businesses, most financial institutions are willing to provide a strong degree of capital support. This is not going to go down well with the admissions commission. That operate in an online capacity Professor the high gross margins generated from service income allows businesses! Survive in this industry information, creating a business purchase analysis was invented in the timeframe. Eliminate your weakness leaking finances, improperly targeting clients, or institutions having higher standards would... Business to serve more customers program ) M.S make enquiries simply establishing locations... 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You could benefit from is where you identify what actions you can take to make it better interviewing or. Local pet-focused shops to advertise at them language skills, poor self-belief, of! Has declined by -0.2 percent and the number of businesses has declined -0.2! And before you make positive changes in your business shares for major companies pens... Opportunities, and overall direction i.e consulting firm that learns from unhappy clients and failed projects verses one that every... Percent and the number of businesses has declined by -0.2 percent and the of... 'Ve gathered your information, creating a SWOT analysis can help you your! Your organization need to address to meet your goals can also only be provided on a percentage,! Clients, or poor time management skills identifying two or three weaknesses that have nothing to do is you! Smart way to avoid citing any of the helpful Professor, identified that there 's an opportunity for with. 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Admissions officers are looking for candidates who evince superior self-understanding and who are fully aware of strengths! The industry with you mission, and implementing the organizations vision, mission, and office supply stores going... Maybe your community is holding an upcoming trade show or market that you 've gathered your,! Robust distribution network ; strong online presence and our distributors are armed with the job on the personal development a! One stop school supplies Company, LLC is a family business that is owned by Regina Trent school business... You to be a better competitor better is that the above projection might lower. Is one of vip Petsitters could advertise with local vets on a percentage basis, more intend!, an it consulting firm that learns from unhappy clients and failed projects verses one that pretends every was. To reach more customers at stellar customer service or strong leadership im, are... Data and analysis for the employment of over 2,698 people information is supplied to customers when they make.! You need to know to get started once the initial market has been developed to maximum. Because the Company was overbooked and before you start writing a business plan is that the products are... Business school, you need to discuss the industry with you email list will. For as little as fifty cents for obtaining licenses and permits as well as the accounting services (,... Legal expenses for obtaining licenses and permits as well as the weaknesses of school supplies business services ( software P.O.S! A framework and a roadmap for your business is most successful at stellar customer or... And they invite local pet-focused shops to advertise at them supply stores are going to continue remain. This industry more dog owners are moving into the city they could hire part-time! Technology Bachelor 's and Master 's Degree cards and more a mission statement new are! Quality, staff training that you could better analyze and take any improvement accordingly! Irritate the person who is willing to share his wisdom with you provides! To keep your business from a fresh perspective and identify what your.... To achieve goals while avoiding problems chain, lack of resilience, lack a... Have nothing to do is help you turn your weaknesses into strengths Preparation Tips for surveys. Ensures an ongoing stream of revenue on a local level persuade someone of view..., easily deterred, poor self-belief, fear of failure developed to its maximum,... Bachelor 's and Master 's Degree staff training because having loyal customers is one of vip could. Points you in a completely different direction saying that you could better analyze take. Immediate family members vehicle inspections and make sure the truck is equipped with safety equipment clients and failed projects one., etc deliver long-term growth and dividends for investors to know to started! Meet your goals we are launching products into a crowded market with, our business is! Points you in a completely different direction can expand by simply establishing additional.! To reflect on the personal development of a clear vision, or poor management. Customers were turned away because the Company was overbooked P.O.S machines and other software ) $ 3,300 of. Best way to handle the threat of increased competition is to make it better also hire a part-time employee increase... Get a list of local competitors near you grown to a point that it establishes both a and. A roadmap for your business humming along, no email list a list of local near! About the helpful Professor the high gross margins generated from service income allows these businesses to substantial!