1. Market Research: Conduct a market analysis to identify the demand for creative stationery in your target market. Look at trends in stationery sales, customer preferences, and the competitive landscape. Consider conducting surveys or focus groups with your current customers to gather feedback on the potential new product line.
2. Product Development: Research different suppliers for the semi-finished products needed to produce the stationery. Evaluate the quality, cost, and reliability of each supplier before making a decision. Work with a designer to create unique designs for the stationery that will appeal to your target market.
3. Importing from China: Research the process of importing goods from China, including customs regulations, import duties, and shipping costs. Consider working with a freight forwarder to help navigate the process and ensure smooth delivery of the products.
4. Business Loan Application: Research various lending options for small businesses, including traditional bank loans, Small Business Administration (SBA) loans, and alternative financing options. Prepare a detailed business plan outlining your expansion goals, financial projections, and repayment plan to present to potential lenders.
5. Production Process: Create a visual representation of the production process for the new stationery line, including pictures of the semi-finished products being transformed into the final products. Highlight any unique or innovative techniques used in the production process to differentiate your products from competitors.
By thoroughly researching and preparing a comprehensive investigative report on these points, you can help Wendy make informed decisions about expanding her book store with a new line of creative stationery.
Case study
The book store is a business which sells a variety of books to suit any lifestyle, from bestselling novels, educational material to children’s books.
The owner, Wendy Brooks, has realised that there is a demand for creative stationery based on her customers’ requests. She decided to expand her business by producing a stationary line including creative paper, envelopes, notepads, creative stamps, craft pens and wrapping paper which she will sell in store.
Wendy is considering using semi-finished products to produce the stationery and wants to import the creative stamps and craft pens in china. Wendy plans to apply for a business loan in order to gain the capital for the expansion of the book store. Wendy knows that she has to conduct thorough research before starting this new venture.
You are required to assist Wendy by conducting the research and preparing a typed investigative report on the following points:
b) include pictures of the production process of this new venture
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