Kismet was a supplier of equipment and hobby products (such as: hunting knives, compasses and sleeping bags). Stuart Trier – President
Aaron Anticic – Treasure
Mitcha Chiba – Director of Operations
Kismet centered on selling lower-priced tools to individuals and installers throughout South-western Ontario. Main source of revenue came from " mobile tool shows”
Kismet rented a venue in a city or small area, sending away flyers and local newspapers to sell products at 40% - 70% away opened 2-4 days long. Home Lager (Sales of $54B in 2001; with 27% of those sales via hardware and seasonal item lines) and Canadian Tire dominated the industry Kismet partners had been planning for next year's procedures and fast expansion. Chiba's 1st annual salary: $38, 000 + 10% reward (EBIT) + company car $3000 Administrative assistant total annual salary: $26, 000
Trier and Anticic combined salary of $6000 each month + dividends equal to twenty percent Kismet anticipated accounts receivable to increase coming from 0 – 10 days of sales therefore wanting to maximize of inventory from 29 – 40 days to mitigate frequency of stock outs. This plus full-time management of Trier and Chiba were expected to generate $2M and $4M in sales intended for upcoming total year of operations. Fresh software system 20 dollars, 000 – point of sale (POS) system
Inventory control system $10, 1000
Office assets $5, 500
Storage cost - $3, 500 each month
Fixtures $5, 000
London, uk warehouse ammenities $2, 400 per year
Insurance bill increase simply by $2, 1000 annually
The two Trier and Anticic had been worried pertaining to the difficulty for brand spanking new companies, with young entrepreneurs to obtain funding from lender. They were unclear what data should be pressured in their ending up in the bank's account administration Fact: financial institution wants a business who is comfy in repaying its personal debt Projected transactions were needed.
Net Summary: Kismet Inc. was obviously a rapidly growing supplier of tools and hobby products that focused on...