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Milians’ Painting
Executive summary
Milians’ Painting Company will provide top interior and exterior residential and commercial services. It is located at 122 Rutland Avenue, Fairfield, CT; 06825 and it has successfully served many customers from the surroundings. It will increase sales to more than $300 dollars in four years through focusing on its strength, its key customers and the underlying values that customers need. In addition, it will improve on the gross margin on cash, working capital and sales management. The company focuses on local markets, home and industrial coating applicators. Due to high competition from other painting companies especially Lomar Painting Company, the company seeks to provide high quality services while ensuring the environment is maintained green. In conclusion, the company seeks to achieve successful business through integrating their business and making adjustments through a marketing plan. This will enable them to overcome competition in the market thus achieving high profitability.
Objectives
- Sales will increase to more than $300 dollars by the end of four years
- Continue gross margin at a level of 50% and keep maintaining that level
- Improve on the inventory turnover to more than five turns in the following year
- Go green through reducing toxic waste substances in the environment
Introduction
Milians’ Painting Company is a painting company that was established in 2005. Its location is at 122 Rutland Avenue, Fairfield, CT; 06825. It has successfully served many customers in the Fairfield and Westchester regions for the past six years. The company focuses on local markets, home and industrial coating applicators. It specializes on all categories of paintings including residential, commercial, new construction, faux finish, high-end decoration and antique painting. The company seeks to provide services in a timely manner and with a comprehensive quality control to satisfy customers. The business has become more challenging and many companies are constantly competing with each other. Therefore, Milians’ Painting Company provides a systematic plan for improving our sales, gross margin and profitability through introducing a low-cost leadership strategy while maintaining a suitable high quality level of products.
Background
The company will initially focus on residential and commercial customers in the Fairfield and Westchester regions. By the end of four years, the company expects to be serving many customers in other parts of the countries. However, with high competition from other companies especially Lomar Painting Company, which is among the leading painting companies in the globe. Milians’ Painting Company will provide high quality services while ensuring the environment is maintained green. Consequently, it will continue to improve inventory turnover and maintain the level of gross margin while focusing on its strength, its key customers and the underlying values that customers need.
Discussion
The company seeks to provide high quality services because of the high competition that has been the biggest challenge in the market. Therefore, the company plans to improve their sales and profitability through introducing a low-cost leadership strategy while maintaining a suitable high quality level. This will enable the company to be counted among the leading painting companies globally. Bergeron (56) points out that without a better plan, the business will not be successful. Thus, the business owners need to have a business plan to enable them make timely changes in order to overcome completion and other business challenges. Thus, the company has introduced a low cost-leadership strategy that ensures customers get high quality products at the lowest price in order to get more customers.
Consequently, the company has established key procedures of continuing to maintain gross margin at the level of 50% and going green through reducing toxic waste substances in the environment. In order to meet market demand, Milians’ Painting Company has decided to improve on the inventory turnover to more than five turns in the following year. Davis (2010) comments that inventory turnover is crucial in business because it enables business owners to operate business smoothly. In this company, one of the goals is to improve on inventory turnover since it is vital in planning for the financial aspects and resources needed for the company.
Lastly, when it comes to marketing, the company believes that a marketing plan will enable the company to achieve more customers globally (Kuiper 78). Therefore, they seek to provide high quality products while ensuring toxic waste substances are reduced to avoid environmental problems that might cost them. At Milians’ painting company, marketing plan demonstrates the way business is growing and their achievements. Thus, it enables the company to make the necessary adjustments for achieving their goals through using the business plan.
Conclusion
Milians’ Painting Company provides a plan for improving their sales, gross margin and profitability through introducing a low-cost leadership strategy while maintaining a suitable high quality level. The company has tried to establish key procedures to enable them to continue maintaining their gross margin level. Moreover, they produce high products but ensure the environment is kept green through avoiding toxic waste substances on the surroundings. Thus, with the use of marketing plan and strategic objectives, the company is able to make adjustments essential to overcome the issue of competition in the market thus aiming to achieve successful business.
Works Cited
Bergeron, Ron. Business Plan Writing. Baltimore, ON: Building Better Business, 2004. Print.
Davis, Ken. The Mcgraw-Hill 36-Hour Course: Business Writing and Communication. New
York, NY: McGraw-Hill Professional, 2010. Internet resource.
Kuiper, Shirley. Contemporary Business Report Writing. Mason, OH: Thomson South-Western,
2005. Print.
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