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On the other hand, bank loan is the key factor to start new project, as the entrepreneurs would not be capable to start XYZ New Store without fund, as they would only invest 45% of the total capital involved.In addition, bank loan is also a major issue to coordinate all the operational activities, human resources management, promotional activities, as well as marketing functions.
Thus, several direct competitors of this industry are Shape Master, Terra Universal, Pentz Cast Solutions, and indirect competitors are Applied Industrial Technologies, Inc, Industrial Distribution Group, and MSC Industrial Direct Co.
However, Terra Universal is the direct competitor for the Electropolished Stainless Steel Work-In-Process (WIP) Racks, DARLEX Manufacturing’s wide range of aluminum extrusion profiles, Porter (2004) argued that market competition should assess by considering following five forces and these are – Figure 2: – Porter 5 forces model for XYZ New Store Source – Self generated from Porter (2004) The threats of new entrants are relatively low in this industry due to the presence of a number of obstacles to pierce the market; therefore, despite of a quite high international demand it is rather hard for the new comers to capture a large part of the market at first instance.
However, The XYZ new store will be located in one of the busiest streets of Blaine, MN, offering a variety of products that would suit with the needs of many other businesses like construction industries, real estates, recycling factories, hospitals, hotels, restaurants, and so on.
Initially, the store would provide the local customers with products from categories such as carts, clean rooms, enclosures, fixtures, frames, guards, material handling, and work cells.
From March 2011 to April 2011, it will continue training for the employees and project has aimed to celebrate opening ceremony on April 15 2011.
The managers would provide day-to-day update to the CEO by phone or e-mail to know future tasks and start operation seriously with the objectives to reach break-even point within first year of its operation.
Moreover, the fund would engage for purchasing raw materials, fixture, fittings, furniture, and appliance.
In addition, appointing employees is a longer process as adverting for job position, listing selected applications, interviewing short listed candidates, and appointing potential staff as well as providing training for them.
In addition, Flex Mation will invest 60% of its total starting capital to expand its operation in the US market.
As Flex Mation will expand its business by opening a new store, it will be easy for the company to generate profit from the first year of its operation.