Management of Kiowa is accomplished by Fernando and Elizabeth Renaldo and our two full-time store managers. During an average day of operation, each store requires only one individual per store. In the past, accounting, billing, inventory, and all other bookkeeping was done by the Renaldos. However, management realizes that this has been one of the company's biggest weaknesses and has lead to inefficiencies, prolonged collection periods, and overall loss of profits. In order to solve this problem, Kiowa has begun to outsource much of these tasks to a professional bookkeeping firm.
The personnel plan is included in the following table. It shows the owners' combined salary followed by the two additional store managers' salaries for our other facilities. In addition we have two part-time employees who shift their schedules between various stores. It should be further noted that there is a profit sharing program between all the full-time employees so that effort is rewarded.
Once our website becomes fully operational, we expect to have one of our part-time employees shift to full-time.