The document compares two businesses - a small tailoring shop owned by Chan Mei Mei and her sister, and a traditional Chinese medical shop owned by Keen Hing. The tailoring shop is located in a back alley in Pudu and has few customers and employees. It focuses on serving existing customers. The medical shop is located in Petaling Street and sells seaweed, dried seafood and medicines. It has competitors and uses strategies like competitive pricing and expanding product offerings to attract customers. Both owners plan to pass their businesses to the next generation rather than expand.
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3. Founder of the shop
Name: Chan Mei Mei
Age : 60 years old
Chan Mei Mei and her sister start
this business. According to Chan
Mei Mei, her whole family was
doing tailoring so she decide to
have a shop to continue her life
and her family business in her
own way.
4. -Located Pudu area
-Back Alley Shop
-Mostly visited by old customers cause
it was a small and unnoticeable shop.
5. Chan Mei Mei
Chan Mei Mei’s sister
Employees
They have only three employees.
Part time tailor
8. Founder of the shop
Name : Keen Hing
Age: Unknown
A man that was travel from Tang Shan to
Malaysia. To survive and interested in chinese
traditional medicine so he started this business
since 1966. Now was inherited by his son.
13. Two types of Tailoring Businesses
• General Tailoring – Daily wears
• Specialty Tailoring – Wedding dresses, gowns,
etc.
14. Competitors of Sister’s Tailoring Shop
• No competitors.
– Does not compete with others
– Even if there’s competitions from the other
shops, they do not bother them.
– This tailoring shop only focuses on their customers
that they currently having for over 20 years.
15. Nature of Business
• Monopoly
– No competitors (only 1 tailor shop in the street)
– Price Maker: Decides the price product to be sold.
• But for some reason to fix their price
according to the market price.
16. Challenges & Obstacles
• Provide good quality and
durable products.
• Keep learning and improving
their sewing skills.
• Justify the product prices
according to the market
prices.
17. Strategies
• Keep self-update on the current preferences.
• Letting people aware of their business
– Spreading via old customers
– Complete satisfaction of current customers
19. Nature of business at Keen Hing
Enterprise
• Competitive
- few sellers, each of whom has little or no control over
the market price
- have competitors
20. Challenges and obstacles
• Provide good services and goods
- to gain more customers
• Compete with competitors
• Maintain the business
21. Competitors of Keen Hing Enterprise
• 2 competitors around Petaling Street
• But 1 of the competitors had closed down
• Left 1 competitor.
22. Strategies
• Letting people aware of their business
- spreading through old customers
- let the customer know what you do best
• Sell products that the competition doesn’t have
- take in new products that suits the market
• Price
- Although the price is set by the owner himself
- lower than the competitor’s price
23. Future Plan
Future plan? Nah…I just want my business to
keep on. I am too old for doing these future plan.
I will inherit my business to my son and let him
do those expansion things. I am ready to retire
anyway.
Future plan? Nope… Maybe we will just expand
our shop size. Branches? Nah… One shop is busy
enough for me. I am satisfy in my business now.
24. References
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Building a Profitable Tailoring Business from Home: A Step-by-step Guide to Setting Up. (2007, October 23). Retrieved January 11,
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From Small Tailoring Business to a Growing Success: the Story of Tanzanian Qualicloth | Success Story | Emerging Stars. (2011).
Retrieved January 11, 2014, from
http://www.emergingstars.com/success-stories/small-tailoring-business-growing-success-story-tanzanian-qualicloth
Hall & Madden Business Story - Business Insider. (2013, January 11). Retrieved January 11, 2014, from
http://www.businessinsider.com/hall-and-madden-business-story-2013-1
Six Strategies to Compete In Business | Shep Hyken. (2011). Retrieved January 11, 2014, from
http://www.hyken.com/marketing/six-strategies-to-compete-in-business/
Six Strategies to Compete In Business | Shep Hyken. (2011). Retrieved January 11, 2014, from
http://www.hyken.com/marketing/six-strategies-to-compete-in-business/
Small Is Beautiful - How to Compete with Bigger Competitors. (2011). Retrieved January 11, 2014, from
http://www.is4profit.com/business-advice/business-strategy/small-is-beautiful-how-to-compete-with-bigger-competitors.html
Tailoring Service. (2011). Retrieved January 11, 2014, from
www.bizymoms.com/sewing/tailoring.html