Its going to focus on the internal and external factors that one should consider while evaluating any school or an educational institution. We will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business. In the right-side-up world, strengths remain strengths . 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. Therefore, its important that you should be aware of the threats. All Rights Reserved. For instance, VIP Petsitters needs help with its website. If you want to tap into an existing brand name and a proven system, your best bet may be exploring going the franchising route. 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. 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. Some weaknesses are just indefensible. We have conducted our market research and we have ideas of what our target market would be expecting from us. (vitag.Init = window.vitag.Init || []).push(function () { viAPItag.display("vi_23289101301") }), Easily accessible location for families to come and visit, The percentage of students graduating from the school, A better financial background would help the school to sustain itself in the long term, The well trained and professional staff of teachers. Private schools or non-government schools come to aid when the government schools dont provide sufficient or required education. They highlight the internal weaknesses that you or your organization need to address to meet your goals. We will ensure that we get our customers involved in the selection of brands and also when making some business decisions that directly affect them. 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. Their website is outdated and doesn't include new services. 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. Admissions officers are looking for candidates who evince superior self-understanding and who are fully aware of their strengths and weaknesses. Place adverts on community based newspapers, radio and TV stations, Encourage the use of word of mouth publicity from our loyal customers. Today, well discuss the swot analysis of a school. When thinking about weaknesses in a SWOT analysis, focus on things you know you are not too good at. Lacking confidence, easily distracted, talking on a phone, moody, low social capital. Science Education (Secondary Physics) M.A. 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. Mathematics Education (Middle Grades) M.A. Science Education (Secondary Biological Science) B.S. Questions about weaknesses and failures should not be feared. Our bank account numbers will be made available on our website and promotional materials. Long term planning. - Deadline, pressure and time limits. A SWOT analysis is a critical component of every business' evolution. 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. 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. As it relates to operative recurring the purchase orders from their customer base. 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. 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. 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. Product Specifications (please see images below): Office supplies retailers and related businesses are very important companies in local and regional markets given that they are able to provide all of the necessary supplies for any given company to conduct business. We will generate income for the business by retailing and distributing; One thing is certain when it comes to school supplies business, if your business is centrally positioned coupled with effective and reliable distribution network, you will always attract sales and that will sure translate to increase in revenue generation for the business. Fail to follow through, lack of resilience, lack of ambition, lack of enthusiasm. Business Administration, Accelerated Information Technology Bachelor's and Master's Degree. Mathematics Education (Middle Grades) B.S. The cost for insurance (general liability, workers compensation and property casualty) coverage at a total premium $2,400. We tell you what you need to know to get started. Limited or no extra-curricular activities, Inaccessible transport to visit the school, Highlighting the development of the new programs, Asking the feedback of parents of families and acting on it, Cutting out some programs in order to move funds, Finding new investors to launch new programs, Building a new school committee comprising of volunteers, Motivating parents to check the educational curriculum of students, Increasing the scope of online education if schools are off, Increasing the enrolment of students, and decreasing the retention rate, Limited funding and investors are pulling their resources, Unsatisfied parents and theyre complaining about it, Development of the new high school in the area, Limited internal communication among the parents and school body, Poorly planned academic syllabus and extra-curricular activities. So, also our management team has what it takes to grow a business from startup to profitability with a record time. Studentsshould always cross-check any information on this site with their course teacher. 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. Risk-taker, bad with money, shiny object syndrome, too many goals. Not enough staff/faculty members. The total cost for warehouse facility remodeling (construction of racks and shelves) $20,000. Staff unable to meet with parents. Handles any other technological and IT related duties. SWOT analysis assesses internal and external factors, as well as current and future potential. Each letter of the SWOT acronym represents an area to study: strengths, weaknesses, opportunities, threats. Office Supply Store Business Plan, Marketing Plan, How To Guide, and Funding Directory. When asked such questions, students should look for balance; otherwise the answer will come across as incomplete and glossed over. A major weakness that may count against us is the fact that we are a new school supplies business and we dont have the financial capacity to compete with leaders in the industry for now. 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 realistic recognition of the weaknesses and threats that exist for your effort is the first step to countering them with a robust set of strategies that build upon strengths and opportunities. The failure of a company to achieve its objectives in a strategic business direction may be considered a business weakness. Assist the transport and logistics manager in planning their route according to a distribution schedule. It covers a wide range of types, including: file supplies, desktop supplies, office equipment, financial supplies, consumables and a series of work-related supplies. After finishing primary schooling, teenagers enter secondary schools. Your email address will not be published. Your email address will not be published. Nursing Nursing Informatics (RN-to-MSN Program) M.S. Im, We are launching products into a crowded market with, Our business has grown to a point that it is. We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be equipped to confront our threats. 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 If you don't have a business plan, your leadership will be handicapped, choosing short-term . 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. Step 4: Threats. But you shouldnt hesitate to point out the weaknesses. Some of the main potential threats are as follows; School administration should keep these threats in mind while laying out the plan, and they should have a plan to address these challenges. Something as simple as a bookmark will sell for as little as fifty cents. Because having loyal customers is one of VIP Petsitters's strengths, a loyalty program for customers could ensure that they stick around. There are different names for different types of schools in different parts of the world. Engage on roadshows within our neighborhood to create awareness for our school supplies business. Unmotivated, lacking goals, working in teams, leadership, writing skills. View all degrees. 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. 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. Cite this Article in your Essay (APA Style), Privacy PolicyTerms and ConditionsDisclaimerAccessibility StatementVideo Transcripts. Lack of proper training for faculty. 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. Ongoing competitive threats are the biggest challenge faced by local office supply businesses. You should think about the weaknesses you want to mention but largely try to play it safe. N.B: We have been able to generate about $100,000 (Personal savings $80,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $250,000 from our bank. Business Administration, Human Resource Management B.S. Special Education (Mild-to-Moderate) B.A. They have been able to overtime make use of their purchasing power to source products directly from manufacturers, internalizing distribution functions and eliminating independent wholesalers from the school supply chain. Ensure that our we position our banners and billboards in strategic positions all around Los Angeles Unified California, Distribute our fliers and handbills in target areas in and around schools within Los Angeles Unified school district areas. The institutions after primary schooling are middle schools or elementary schools. As it relates to industry research, office supply stores generate about $15 billion of revenue per year among 10,000 retailers throughout theUnited States. The opportunities for school are as follows; Threats already exist in any environment wherever youre, and theyre out of the control of the school. Describe a significant failure in your life and what you learned from it. Examples of weaknesses for a SWOT analysis might include lack of motivation, lack of a clear vision, or poor time management skills. Many people have different approaches to this question. Business Administration, Accounting B.S. At WGU, your experience is our obsession! Science Education (Secondary Physics) B.S. 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. 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