Flimore Furniture Ltd

In: Business and Management

Submitted By vajitha
Words 1366
Pages 6

Filmore Furniture Ltd. manufactures colonial maple furniture. The company was incorporated in 1970 by Fred Filmore, who had been the sole proprietor prior to that. In 1983, Fred Filmore retired and sold his business to his only son Phil, age 38, for a small sum. That year, annual sales totalled $1,300,000.

Phil Filmore was an aggressive manager and strategist. He modernized the plant, introduced new product designs and accessories such as mirrors and lamps, and implemented new marketing strategies and merchandising ideas. These innovations were quite successful, and helped the company to establish a good reputation in the furniture industry. From 1983 to 1993, sales income increased to $5,100,000, and the company had 58 full-time employees on the payroll.

While sales grew quite strongly, the highly competitive nature of the furniture business held profits to relatively low levels. In 1998, the company's after-tax profit amounted to $204,000, or 4.0 percent of sales income, which was very close to the industry average.

Phil Filmore was clearly in charge of the key activities of the business, including all of the strategic decisions mentioned earlier. The company employed five sales representatives who called upon the smaller accounts, but Phil personally handled the responsibility of calling on the major accounts. Of particular importance were the company's relationships with major chain stores that Phil had developed in the years after he took over management of the business.

With most of Phil's attention devoted to merchandising and promotion, day-to-day operation of the plant relied heavily on Jean Lechaise, an engineer who had been with Filmore Furniture for many years. Lechaise was an excellent operations manager upon whom Phil could rely to ensure the timely and efficient production of high-quality products. Together, Phil…...

Similar Documents

Guillermo Furniture

...Guillermo Furniture is a mid-grade to high-end sofa furniture manufacturer that operates in Sonora, Mexico. Guillermo Navallez is the sole owner of Guillermo Furniture and is looking at options that will provide the greatest return on his investment (University of Phoenix, n.d). Guillermo Furniture is looking at two options which include, (1) purchasing high-end machinery to reduce labor and production costs and (2) the possibility of becoming a distributor for a manufacturer that is trying to move into the North American market (University of Phoenix, n.d). After reviewing the information, relevant information that must be considered is financial and non-financial factors that will influence what information will be deemed relevant in each project (Edmonds, 2007). Mr. Navallez is looking to increase his profits through one of the business ventures without jeopardizing the time spent with his family and increasing managerial responsibilities (University of Phoenix, n.d). Factors that will be taken into consideration are machinery costs, training, and transfer of experienced employees, competition, production, labor, and overhead costs. In the first project, the purchase of high-end machinery appears to be a feasible opportunity but we must first consider all relevant information. The costs of purchasing the machinery are immense given the technological advancement and capabilities of the operation. With the purchase of the equipment, Mr. Navallez will have to consider the...

Words: 636 - Pages: 3

Bamboo Furniture

...16-176 | Date of Submission: 21st Nov, 2012 Letter of Transmittal | 21st November, 2012 Tazrina Farah Lecturer Department of Finance University of Dhaka Dear Madam Here is a report on the “New business Idea”. In this report we have presented the whole Market and Demand analysis of our new business of bamboo furniture named ‘Oitijjho- the heritage of Bangladesh ’ . At University of Dhaka, we appreciate having this assignment. If you need any assistance in interpreting this report or if you have any query, please contact with us on the given mail address starz@yahoo.com Sincerely yours, KAzi Umme Sumaiya On behalf of the group 3rd Year 6th Semester B.B.A 16th Batch Department of Finance. Table of Contents | Sl no. | Contents | Page no. | 1. | Executive Summary | | 2. | Business Idea | | | 2.1 | Firm & Promoters | | | 2.2 | Why to behave entrepreneurially | | 3. | Industry & Competitive Analysis | | | 3.1 | Introduction to overall furniture industry of Bangladesh | | | 3.2 | Bamboo in general | | | 3.3 | Environmental advantages of bamboo | | | 3.4 | Bamboo furniture versus wooden Furniture | | | 3.5 | Porters five forces model of industry analysis | | 4. | Goals & Objectives | | 5. | Business & Operational Plan | | | 5.1 | Business process | | | 5.2 | Business start-up activities & cost | | | 5.3 | Product line | | 6. | Marketing Plan | | | 6.1 | Target......

Words: 10009 - Pages: 41

Stickley Furniture

...Stickley Furniture Stickley Furniture Stickley Furniture founded in 1900 by brothers Leopold and George Stickley manufacturing fine cherry, white oak, and mahogany furniture with a prestigious line of mission oak furniture. Stickley Furniture has a production facility outside of Syracuse, New York but now has various showrooms in New York State, Connecticut and North Carolina. Employing 1,350 employees, Stickley Furniture has been able to gain report with local customers and gain a large market share in the north eastern part of the country. With continued growth and technological advances, they have the opportunity to increase production and streamline production processes. (Stevenson, 2012) There are different types of production processing that can be used, such as job shop, batch, repetitive, or continuous as the primary mode of operation. Job shop consists of a variety of custom-made products that are produced in batch numbers but somewhat few in diversity. The batch process occurs when many similar items are produced at one time, stage by stage from station to station and many items are produced simultaneously. Repetitive processing is large categories of standardized items are produced at one time in factory lines. The continuous processing method is products that are being processed are continuously in motivation with activities being done to them as they are moved down the line. Stickley Furniture......

Words: 1756 - Pages: 8

Filmore Furniture Ltd

...Filmore Furniture Ltd Company Background * Incorporated in 1970 by Fred Filmore, a sole proprietor. * In 1983, Phil obtained his father’s furniture business and acquired the management of the business. * In 10 years the sales income increased to $5,100,000 and employed 58 full-time employees. * He is an aggressive manager and strategist. * During 1986 to 1993, Filmore Furniture modernized its manufacturing facilities. * Phil owned 63% of the share, 31% the five investors and the rest is retained by the employees of the company. Problem She is having a tough time choosing between whether she should sell the business, or manage the business herself. Objectives Choose the best option that will favor in Mrs. Lucinda Filmore, and provide her with an income that would benefit her financial situation. Also, an income to assist her to have a good standard of living for her and her children for the years to come, with the lowest short- and long term debt possible. Situation Analysis PEST Analysis Political:- * Canada-US Free Trade Agreement (1989) brought increased import competitors from larger American companies. * Opportunity to export in large US market Economical:- * During recession, additional fixed cost may be risky * The furniture industry is very competitive Social:- * Innovations resulted in good reputation, and goodwill in the furniture industry * Relationship with financial institutions;......

Words: 1255 - Pages: 6

Furniture Store

...Furniture store Analysis Furniture Store Analysis Guillermo’s furniture located in Sonara, Mexico is facing major issues and problems, the decision and choices he makes from now will either make or break his company. Competing with a high-end top of the line technology operated model furniture production Guillermo’s furniture store will not be able to compete with and will not last long in the business. Guillermo will need to determine another resolution to stay up with the rivalry if he want’s to stay open. This essay will discuss the finance concept in efforts to keep Guillermo’s furniture store in business. There are many problems that need to be resolved at Guillermo’s furniture store before the competition takes over. Some of the areas that need to be cover to survive in the industry and to be complete in the international market and not loose any of his customers is to analyze how to keep up with business and be able to uphold a constructive cost arrangement that will decrease the outflow and bring more in profit. Currently labor cost hours are greatly higher since all pieces of furniture are being build by hand, meaning more time is spend in each piece being build. Building furniture pieces with state of the art machine will diminish the expenses and carry in more income. Labor costs are currently much higher due to the hand build detail and time that goes into each piece of furniture. With the new technology being use by the competitors, the......

Words: 730 - Pages: 3

Prescott Furniture

...Weeks One and Two Extra Credit Qnt. 5040 - Simulation Modeling Dr. Phillip S. Rokicki Precision Tree and the Prescott Furniture Company Instructions: From time to time your professor makes available extra credit opportunities that allow you to add to your total point values for this class. This is such an opportunity. Using Palisades Precision Tree software create a tree that graphically shows the various options open to customers of the Prescott Furniture Company. You must import your Precision Tree into a Word document that contains the NSU/SBE front page. Be sure to explain what you did to solve this problem, and explain what a decision tree is and what the solution is for each of the various branches. There is a maximum of 7 extra credit points available for this opportunity. The Problem Walt (Hutch) Woods is the owner and main furniture maker at the Prescott Furniture Company (located just behind the K-Mart on route 52) in Prescott Florida. The company has been in business for over 15 years producing some of the finest examples of curio cabinets available in the Southeast US. Hutch makes two sizes of cabinets; the regular size is about 10 inches smaller in width than the large size cabinet seen on the right. The company uses only three types of woods, Miami Dade Pine, pecan, and red cherry to make their cabinets. The Miami Dade Pine is only finished in natural wood, but the pecan and red cherry woods can be finished in either a matte finish or...

Words: 704 - Pages: 3

Haverwood Furniture

...Jeremy Kris Marketing Policy and Strategy 10/22/2013 Haverwood Furniture The household wood furniture industry is healthy and growing. Total industry sales in 2007 were estimated to be $31 billion at manufactures prices. Three categories of furniture divide the industry. First upholstered furniture which makes up 50% of sales, Secondly wood furniture at 40% of the industry market share which has grown 2.5% in 2007 and is projected another 4% in 2008, this second category includes dining room and bedroom furniture. Third and last is the other category at 10% this includes ready to assemble and casual furniture. Haverwood has established themselves as a medium to high priced furniture company through 1,000 carefully selected high quality department stores which do not include chain stores. They have selected the baby boomers as a target market In 2007 year end net sales were $75 million profiting $3.7 million before taxes. Haverwood is facing a decision presented by their ad agency Hervey and Bernham to increase the current ad expenditures by $225,000 through various consumer magazines ads. Magazines such as Better Homes and Gardens, House Beautiful, and Southern Living provide 95% of redecorating ideas for consumers according to a study done by Better Homes and Gardens, they do not provide enough incentive to push the consumers to purchase furniture. However, a study constructed by Better Homes and Garden magazine asked participants (449) to rank factors which......

Words: 630 - Pages: 3

Palliser Furniture

...Palliser Furniture Contents Executive Summary 3 Problem Statement 4 Situation Analysis 4 Alternatives 5 Recommendation 9 Action Plan 9 Contingency Plan 10 References 11 Appendix A-B 12 Executive Summary Palliser Furniture (Palliser) is a key player in the highly competitive North American residential furniture market. They are under constant pressure to stay competitive and profitable in an ever changing market place. The volume of furniture solid is highly correlated to new homes sales and the industry has been slow to bounce back from the recession of 2008. Import penetration from countries with emerging economies is putting pricing pressures on domestic furniture manufacturers. To leverage its key success factor of low shipping costs and short delivery times Palliser has focused on strategic locations for their factories by identifying the different target markets for its comprehensive product lines and have made expansion decisions appropriately. Our recommendation is that they continue with their current location strategy as it meets their operation goals and allows them to access the highest number of market segments and is the best strategy to grow the business. In assessing new locations for strategies we recommend the company determine which of their product lines or revenue streams have the highest consumer demand......

Words: 3393 - Pages: 14

Stickley Furniture

...Stickley Furniture Brandy L. Spinks Business 644 Dr. Snell July 4, 2011 Stickley Furniture One aspect of project management that used to receive quite a bit of attention in the 1950s and 1960s was the project organizational structures. A myriad of new organizational structures have appeared on the scene in the last couple of decades but they still lack many of the desirable qualities in the traditional methods. Ultimately, project management directors seek organizational methods that facilitate teamwork, can maximize the use of limited resources, efficiency and quality in the way a project is completed and how goals and objectives are achieved. This article will examine the three main traditional organizational structures for project management. These three structures are functional organization, project organization and matrix organization. Project Organization Project Organization is a structure that is specifically designed for executing projects. It is specifically tailored to meet the demands of complex projects by isolating unique work and maintaining a strong focus on completing the project. Once the project is completed, this structure disbands. This structure is effective in maintaining dedicated resources throughout the life of the project. The major criticism of this structure is that it is inefficient in transferring technology and the use of resources. Also, by the time the members actually begin acting as a cohesive team, the project is over and the......

Words: 2359 - Pages: 10

Guillermo Furniture

...Guillermo Furniture Store Recommendation Team A FIN/571 James Carlin February 21, 2011 Abstract Guillermo founded Guillermo’s furniture company; in Sonora, Mexico, which is gorgeous retreat location. Guillermo has been the leading furniture manufacturing company in the vicinity for numerous years. Before the later part of the 1990’s Guillermo was holding their own, until new competition arrived in the area that also made furniture. The competitors came with the latest new-fangled technology seen at the lowest prices ever for clientele. For that reason, Guillermo’s felt he’s obligated to come up with the best alternative for the company, which is to improve with technology and venture ahead or carry on working as he has for the previous years and uphold the quality product their customers have come accustom to over the years. Guillermo Furniture Store Recommendation Analysis and Recommend Financial Decision The economy is weak, new competitors’ establishing a presents, Guillermo must tackle a tough decision, which is to become a furniture distributor or stay on the manufacturing side, or possibility do both. Guillermo understands that change is forth coming and he has to venture forward but the dilemma is what the best alternative is. First Guillermo must analysis the financial alternatives and establish which objective is beneficial for the company. The next step is to gather information and formulate a pro forma cash flow budget to analyze the projected......

Words: 2497 - Pages: 10

Haverwood Furniture

...Page 1 of 2 Haverwood Furniture, Inc. I.            Summary of Facts A.    Market - Furniture Industry 1.   Types of customers      a.    Buying public      b.    Baby boomers c. Retailers 2.   Factors of furniture buying      a.    Incidence in new housing starts      b.    Consumer confidence c. Disposable personal income 3. Behaviors/trends of furniture buying a. Customers lack confidence b. Commitment towards a style c. Price concerns 4.   Economic market a.    Monopolistic Competition b. Many sellers with a range of prices, styles, and services         B.       Product   1.   Haverwood Furniture a.   Upholstered b.   Wood (Tables, dressers, and dining room suites) c. Ready-to- assemble products d. Casual furniture 2.   Benefits a.   Core - Home furnishing/styling products b.   High quality/long-lasting products c.   Medium/high priced products 3.   PLC a.   Growth stage b. The company has peaking profits, many competitors, and intensive distribution to high quality stores and customers. C.      Price 1. Medium to higher priced products 2. Record $75 million in sales for 2007 3. Proposal of $225,000 for advertising in 2008 4.   Sales expenses and administration costs were rising to $65,000-$70,000 in 2008   5.   In 2007, allocated costs were $3,675,000 for total promotional expenditures 6. Total industry sales were $31 billion for 2007 7.   Elasticity a. Relatively elastic b. Customers purchase lowest price and favorable style D.......

Words: 476 - Pages: 2

History of Furnitures

...12/04/15 History of furniture and its evolution in Bangladesh At present furniture is a part and parcel of our day to day life. A person cannot even think of a house, office or a business firm without furniture. Every person rich or poor has furniture in his house with accordance to his financial conditions. But people of the late Permian period (260-245) million years ago, Triassic period (245-2080 million years age, Jurassic period (208-140) million years ago didn’t even think of something called furniture. The eve of using furniture started with the advent of the Neolithic age when people started to make their lives comfortable and started agriculture. Though food, clothing, and forming family were major issues but furniture also became the need of people. People needed a place to sleep and the concept of making bed started,. They needed place to sit and so they started making chairs. They needed a place to eat together so they made dinning tables. Then with the change of time furniture also changed and people started to make furniture modernized. Furniture changes with society Furniture has a strong connection with society. Soon after the evolution of history people were divided in various classes. The two main classes were the ruler and the ruled or the rich and the poor. These class variations also bought variations in furniture. The rich people i.e., the Mughal emperors, the nawab families, the zamindars used furniture made with high......

Words: 1569 - Pages: 7

‘Marketing Strategy of Partex Furniture

...internship report of Partex INTERNSHIP REPORT Partex Furniture Industries Ltd. (A Partex Star Group Company) REPORT ON ‘MARKETING STRATEGY OF PARTEX FURNITURE: A STUDY OF PARTEX FURNITURE INDUSTRIES LIMITED’ Prepared for: Md. Shahin Ahamed Chowdhury Lecturer Department of Business Administration Dhaka International University Prepared by: Md. Ershadul Haque Class Roll No: 11 Registration No: 209181 18th Batch Program RMBA 1Year Major in Marketing Dhaka International University Submission Date: February 26, 2011 Letter of Transmittal February 26, 2011 To Md. Shahin Ahamed Chowdhury Lecturer Department of Business Administration Dhaka International University Dear Sir, It is my pleasure to hand you the Internship Paper for PARTEX Furniture Indus. Ltd. The Subject of my analysis is Partex Furniture, one of the concerns of the Partex Group- a renowned national conglomerate. The study encompassed, a through analysis of Problem and Pattern of Partex Furniture. I have completed my analysis of the current situation with recommendation that is believed to be fruitful for the concern of the conglomerate. I would like to thank you for providing me with the opportunity to conduct a study such as this,......

Words: 6167 - Pages: 25

Furniture India

...Organised by Local Event Manager Supported by INDIA INTERNATIONAL FURNITURE FAIR 16 - 18 November 2011 I Bombay Convention and Exhibition Centre www.indiafurniturefair.com 16 - 18 November 2011 I Bombay Exhibition Centre I Mumbai, India I www.indiafurniturefair.com ADVANTAGE INDIA • World's largest democracy with 1.2 billion people. • India's economy will grow five-fold in the next 20 years (McKinsey). • Investor-friendly policies and incentive-based schemes. • Second most attractive Foreign Direct Investment (FDI) location in the world; India received a total of US$ 25.9 billion of FDI in 200910. • The urban population of India will double from the 2001 census figure of 290 million to approximately 590 million by 2030 (McKinsey). INDIA INTERNATIONAL FURNITURE FAIR 16 - 18 November 2011 I Bombay Convention and Exhibition Centre www.indiafurniturefair.com INDIA GDP GROWTH 8.9% 8.5-9% Rapid economic growth: GDP to grow by 8.9% in 2010-11* and 9.0% in 2011-12 2010 INDIA INTERNATIONAL FURNITURE FAIR 16 - 18 November 2011 I Bombay Convention and Exhibition Centre www.indiafurniturefair.com 2011-12 Source: World Bank INDIA FURNITURE MARKET • • Worth US $8 Billion Growing at 30% compound annual growth rate in the organised sector (about 15% of the whole industry) World’s 8th biggest importer INDIA INTERNATIONAL FURNITURE FAIR 16 - 18 November 2011 I Bombay Convention and Exhibition Centre www.indiafurniturefair.com • INDUSTRY......

Words: 2993 - Pages: 12

Hiclass Ltd

...HiClass Furniture LTD i) Calculate using the ABC technique and prepare a revised profit statement for each of the three departments justifying your choice of cost driver. Design staff salaries £99,000 Sale Staff salaries £259,200 Warehouse Staff wages £120,960 Administration Staff wages £122,946 General Overheads £700,000 £1302,496 Activity | Cost Driver | Design Staff salaries | No. of Consultations with design staff | Sale Staff salaries | No. of items sold | Warehouse Staff wages | No. of items sold | Administration Staff salaries | Purchase orders | General Overheads | Floor area | Design staff salaries = £99,000 = 62.4 1,600 Sale Staff salaries = £259,200 = 47.13 5,500 Warehouse Staff wages = £120,960 = 22 5,500 Administration Staff wages = £122,946 = 14.24 8,600 General Overheads = £700,000 = 14 ...

Words: 440 - Pages: 2