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Small business presentation Small business presentation Presentation Transcript

  • Joaquim Silva Step Father Step Father Step Father Kimberly Schabowski Nichols CollegeManagement 100 Business & Society Tuesday Friday
  • company• Sole Proprietorship because it seemed to be the best fit• Shoe repair• 32 years
  • Background• Learned trade from father• Borrowed money from family members to start up business• Bought it as an already established business• Training from father who was also a shoe repair man• Prices were cheaper when first started but now more expensive because of inflation
  • successes• Hard work and dedication have been successes• Most rewarding feeling when he can take something like shoes that are unusable and bring them back to look like new because enjoys satisfying customers• Satisfying clients so they come back over and over is most critical success factors in this kind of business
  • challenges• He has to adapt to changes in shoes and teach himself how to fix the new styles of shoes I.e. leather less common then used to be• Getting clients to believe its worth it to fix shoes is most challenging aspect because sometimes they think to buy an a new shoe is easier• Assuring client that they should put that kind of money back into the shoes• Fatal flaws in industry is not providing craftsmanship and productive service
  • competition• Closest competitors: shoe stores and any store selling shoes• Competitive edge: Willing to provide extra service by doing small things and not charging for clients ex: polishing shoes or a new pair of laces• Customer satisfaction: go above and beyond for them ex: new laces, polishing etc• Customer Loyalty: be cordial and do best work every time with competitive prices and little things not charged
  • Marketing/staffing• Marketing strategy: word of mouth• New employees: honesty and hard working
  • future• Plans to stay in business until retirement• Business Future: provide enough profit to provide him to be a family man
  • Own questions• Has the unstable economy affected your business? • yes• Are there any particular types of climates that help or hurt your business? • snow hurts the business
  • Own questions• Compared to your competitors do you think your prices are high or low? • competitive to everyone around depending on service• What do you believe gives you the competitive advantage against your competitors? • The way he handles people and on time with everything and has everyones shoes waiting when he tells them they’ll be done
  • summary• He advises the class that if they are serious about starting a business then they need to put in every once of effort possible and take it seriously.• I learned that owning a business can be a struggle but there are always ways around these struggles if you are willing to give it your all.