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Lampstands

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Name and Contact details of cliënt: Lorden Mlandisi Oliphant 2570 January St, Kwanonqaba Mosselbaai 6500


Description of the business Edit

What exactly is it that is going to be sold or done?

Lamp stands


What skills are needed to do this? Where is this taught and how much will it cost?

Handwork creativity, I dont need any training


What tools or equipment are needed? Where can they be bought, and how much will they cost?

Handsaw = R50, 00 Chisel = R120, 00 Knife = R49, 00 Tape Measure = R49, 00 Square = R47, 59 Electrical cable = R135 per meter

Bulbs = 20 x R2, 10 each Bulbs Holder = R15, 00 Vanish SL = R142, 00 Bores/Drill = R299, 00 Work Belch = R20, 00 Vice = R175, 00


How much space is needed to work from?

Enough space


Where will the space be found, and how much will it cost to rent?

In my house


What sort of people will buy the product? Who are they and where do they live?

Tourist, local community, Bed and Breakfast, Offices, flats, hotels etc.


How much and how often will they buy? Will they come to the shop or will it be necessary to deliver?

Throughout the year - tourist Locals will buy everytime they need orders Orders from Hotels and B&B for their rooms, reception etc.


Upstream Businesses Edit

A list of businesses and ideas that provide the services and products that this business needs.

  • From different companies


Downstream Businesses Edit

A list of businesses and ideas that this business could provide products for.

  • Tourist
  • Hotels, guesthouses and B&B
  • Private persons


Competitors Edit

What major competitors will attract clients spending away from the business products? Second hand shops and joineries


What prices and products do these companies have? Cheaper prices for second hand products in good condition Lamp stands (crafted wood) = R375.00 Stinkwood lamp stands = R300.00 Pine lamp stands = R200.00


What makes them popular / unpopular? Experience Customer base is establish Specials


What do they do to attract customers? Specials? Interesting marketing / advertising? Specials and advertisement, pamphlets and advertising on shops, it cost them R50.00 per month.


Which of the competitors stand out as being particularly good at what they do? Mosselbay Joinery


What can be done to stand out against them? What can be done that is more exciting / more interesting? Provide quality products Learn from them and catalyze from their mistakes



Marketing the business to clients Edit

What sort of people will buy the products and how important is product consistency to them (e.g. must every loaf of bread be identical)? Tourist, Local community, guesthouses, B&B, offices, flats, hotels

How seasonal or fashion-dependent are their buying habits (do they buy only in summer, only over Christmas, etc.)? Throughout the year


Do the clients want the products to be the cheapest or the best (low price / low quality or high price / high quality)? Best in quality and in price


How do the clients decide where to buy the products? What sorts of advertising / promotions attract their interest? They will react on how the products are promoted. At flea markets people can see the products before they buy. Cheap affordable prices. Good quality wood.


Do the clients want the same things sold in the same way, or do they want things to change all the time? Something different


What can be done to attract the first clients (the most important and most difficult to get)? How much will it cost? Advertising, promoting and specials


List all of the inputs (products that are required to produce the products): Handsaw, chisel, knife, tape measure, square, electrical cable, bulbs, bulbs holder, vanish, bore's/drill, work belch, vice



List all the suppliers for the inputs: Edit

Different suppliers

List all of your outputs (products created by your business): Lamp stands


What sort of prices can be charged and how much profit will can be made on each item (a rough estimate)? Product: Selling Price: Total Cost: Profit: Lamp stands = R60, 00 Profit on each stand = R30, 00


Do the outputs have a shelf-life? Must they be sold within a specified time limit before they go off / can't be sold? Which ones? No, they are made and placed on shelves intill sold or ordered


List everything that needs to be done to prepare the business to be ready (list everything needed to have as well, both equipment and stock): Find all the equipment next to the workbench Draw up a workplan Find the wood to work on Cut the wood according to the measurements Bore the electrical cable Fit last mentioned onto globe holder Establish the base Fit the plug Vanish the wood and allow drying Switch to let of light Put it on display with a price tag


How long will it take to get all of these things and how much will they cost to get? One month and it would cost about R1200, 59


List all the fixed costs to be paid every month even if nothing is sold (things like rent, electricity, telephone, staff wages):' Electricity : R100 Telephone : R50 Staff  : R10 (commission per lampstand)

Total amount for fixed costs: R150, 00


How many staff will be needed and how much will each of them be paid (wages must be included in the fixed costs above)? None at the moment, depends on success of business


What training will they need, how long will it take and how much will it cost? When the time comes, I will provide them with the necessary training


The manufacturing or production process Edit

What possible problems may happen during each step of the manufacturing process? Time frame (to be delayed), measurements, stress/sickness, natural disaster, wrong pricing, miscounting and overcounting


What solutions can be identified for these problems? How much will they cost and how long will they take to fix? To plan your work and work your plan, store the products right, start at the right time, record keeping, have all the equipment and materials, work safe, correct measurements, correct pricing


What is the maintenance program for all the equipment? Cleaning of equipment after use. Oil them and pack or store the equipment safe. Check, default and manage the equipment for safety.


What safety requirements are important for production? Having enough space for the products. Put them on the shelves. Put tags on them with their correct pricing. Keep stock of all the finished products.


How will quality control and client feedback be handled? Make contact with your clients. Do follow ups and keep record of all the complaints. Always be polite and help them immediately.



Costing and bookkeeping Edit

How many of each of the stock items can reasonably be sold each day (and month)? 16 lamp stands a day 300 a day


Will sales volumes be a similar number of each item each month, or is there seasonal variation (cold months, hot, or festivals)?' Yes, sell through the year


What sort of pricing strategy will be chosen (cheapest or best)? The best


What profit margin will be chosen for the products? Cost of making: R30 Selling Price: R60 Profit: R30


Write down the cost prices plus the margin for each stock item you will sell, and the selling price Lamp stands: R60 Profit: R30

Is this competitive? Will customers pay this much? Do the margins need to be adjusted? By how much? Yes, and I don't think it needs to be adjust just yet


Now, set a target. How many items for each product need to be sold on a daily (and monthly) basis to be profitable? 16 a day 300 a month


Set out the products, costs, margins and selling prices: Lamp stands; Cost of making R30 Lamp stands; selling price: R60


Item

Daily Target

Monthly Target

Cost Price

Margin

Selling Price

Total per Month

Lampstands

16

30

R30

R30

R60

= 1800


What trends are included in the projections?Purchase prices can change: Budgeted for highest possible market price. Sales can decrease. Transport cost can vary. Take loan repayment into consideration. Form sales increases every month especially December.


Running the business Edit

What is the process for running the business on a typical day? Who will be responsible for each step? Link this back to the production process.06:00 - 06:30 = Wake up and get ready 06:30 - 07:00 = Get stock and equipment ready for market 07:00 - 07:30 = Get to market place 07:30 - 08:00 = Go to flea market 08:00 - 14:00 = Sales 14:00 - 16:00 = Get the orders and prepare to leave 16:00 - 17:00 = Do deliveries 17:00 - 17:30 = Close the workshop


Who will act as backup should the person responsible not be there? What do they need to act as backup? Responsible person, my brother Cash sales and taking orders. Safe keeping of stock Record keeping of sales


What weekly processes need to be performed? Who is responsible, who is backup and what tools are required? Packing of the items. Sale of products Purchasing of stock Responsible: client-self-purchasing Back up: mother Tools: Record keeping books Extra set of keys


What monthly processes need to be performed? Who is responsible, who is backup and what tools are required? Purchasing Pre- packing Sales Taking stock Delivery of orders


What is the schedule for training and motivating staff? Be friendly, Motivated and positive staff members, Upgrade skills when necessary.


What processes are required for maintenance and new product creation? Who is responsible and what tools do they need? Clients should check out new products. Put profit into business Products should be available for customers Sell quality products



Before beginning Edit

What major laws concern the business, and which government departments should be called to keep up to date (list phone numbers)?' Red Door Mossel Bay Municipality Business Forums Business Mentors


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