Go West, Young Business
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Summary:
The people in West Tampa, Florida, United States, try to redevelop the land they owned. They think Howard Avenue is a really potential area. Many business owners try to invest this avenue and recreate a community by open various stores, for instance, nail salon, flower shop, gift shop, grocery store, restaurant, antique store and etc. They try to merchandise here because it involves plenty of history, and its location close to downtown. One of the business owner stated the area can thrive because it has buildings in place and historic charm, but it needs to provide parking garage, traffic lights to slow motorists and fewer restrictions on business owners. If such limitation could be fixed, it will attract lots of customers.
Connection(redo):
A merchandise business is not as easy as people think of at it show. It involves lots of complex things do deal with. For instance, taxes cost of per unit, gross profit and net profit. Choi, the boss of a beauty supply store, which sells supplies that lady uses for makeup. He imports all of the merchandise from Korean and China because there are countries that produce high quality and low price. Choi could get it for very cheap price. However, the taxes and freight-in may be a large expense for a small merchandise business as Choi’s. It may even cost more than he actually get the merchandise which produced in Canada. Or even he may sell the product at higher prices instead of operating a business with high quality low price in order make sure its gross profit is enough to cover up its expense and able to produce a net profit.
Reflection:
After I read this article I realize that it really takes time to plan a merchandise business. It is not enough the business owner owns a crowded spot in downtown, its product and price is what attracts customer’s eyes. Small profit merchandise business need to keep their cost as little as possible, therefore they can import products from countries, such as China, Korea, India, Mexico, and etc, because all those countries produce less cost products. It can reduce their purchase of their merchandises and bring them more profit for the small merchandising business.
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The cost of all of the items sold is usually the biggest expense figure for a merchandising business. I agree on what you said for keep the cost as little as it can. But importing products from other counties is not a deal that all small businesses can afford. It needs to go through the government and pay for a certain number of taxes. And the owner needs to have a reliable partner to look after the products at where the products come from. And there are other issues too. But most importantly is to develop this area so that it becomes worth for shopping.
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