1. Cost analysis: Conduct a cost analysis to determine the expenses associated with producing the stationary line. This should include the cost of materials for producing the stationary, overhead costs, labor costs, and any other expenses that may arise.
2. Market demand: Research the market demand for creative stationery in your area. This may include conducting surveys, analyzing competitor products, and getting feedback from your existing customers to gauge their interest in the new product line.
3. Competition analysis: Identify potential competitors in the creative stationery market and analyze their products, pricing strategies, and target market. This will help you understand how to position your products in the market.
4. Importing from China: Research the process of importing creative stamps and craft pens from China. This should include understanding the legal requirements, potential suppliers, shipping costs, and any tariffs or taxes that may apply.
5. Business loan options: Research various business loan options available to you, including interest rates, repayment terms, and eligibility requirements. This will help you determine the best option for financing the expansion of your book store.
6. Production process: Gather information on the production process for creating the stationary line. This may include finding suppliers for semi-finished products, determining manufacturing processes, and developing a timeline for production.
7. Marketing strategy: Develop a marketing strategy for promoting the new stationary line. This may include creating a branding strategy, identifying target customers, and determining the best channels for reaching your audience.
By conducting thorough research and preparing a detailed investigative report on these points, you will be able to assist Wendy in making informed decisions about expanding her business to include a creative stationary line.
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:
Pictures of the production process
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