Strengths and core competencies
Service is the main strength of the organization. Being a family run business gives Lake Welding Supplies, Inc. a better opportunity to focus on the service side of the business. The customer service, which is provided to all of our customers, is the main strength that gives Lake Welding Supplies, Inc. an advantage over our competitors. Lake Welding Supplies’ ability to service its customers more efficiently than the competition will allow the company to grow rapidly in the future market.
Significant challenges the company faces now and in the near future
The ability to grow in Lake Welding Supplies’ market depends on the cash flow of the business. Being that Lake Welding Supplies deals with some smaller companies, accounts receivables tend to extend past the 30-day mark. However with the transition to a welding supply based computer system, accounts receivables should be more manageable.
Long Term
Lake Welding Supplies is projecting to increase sales by approximately 10% per year. In order to achieve this goal, the sales staff will have to aggressively pursue the business within the growing Palm Beach County area. Also, Lake Welding Supplies is undertaking cylinder hydro-testing and cleaning for larger gas suppliers. This venture will also assist in the goal to increase sales by 10% annually.
Marketing
Lake Welding Supplies currently utilizes radio and newspaper media to advertise and relies largely on word of mouth. Being that Lake Welding Supplies strives upon its ability to service the customers, a substantial percentage of new customers come from recommendations from others in the industry that have used Lake Welding Supplies’ services. In the near future, Lake Welding Supplies will publish a world wide webpage that will inform interested parties of the services and products offered. As the need arises, Lake Welding Supplies is prepared to expand the marketing of the company through brochures and/or television advertising.
Operations
Lake Welding Supplies, Inc. is located in Belle Glade, Florida and West Palm Beach, Florida. There are currently 10 employees on staff. Two delivery trucks run daily to serve customers on a regular route, while unscheduled deliveries are made throughout the day by another driver. The office staff consists of an accounts payable and an accounts receivable clerk. The office staff also has the responsibility to answer the phones, prepare the daily deposit, organize the monthly customer statements and handle the paperwork required from the payroll company. Each store has a sales staff.
Management and Organization
Lake Welding Supplies is managed daily by the owner and operator, David L. Rimes, Sr. along with his wife Laura Rimes and their three sons. David and Laura have been in the welding supply business since the early 1970’s offering their customers years of experience and expertise. Their sons have grown up in Lake Welding Supplies, which allows then to service the customers with fresh ideas and unique problem solving abilities.
