Our biggest savings of the year
Fantastic Florals, Inc. will start with three qualified and experienced employees. An increase to six employees will likely be needed in three to five years. FFI will continue to have a customs-house broker in Seattle to take care of the import-related matters and sales representatives who are compensated based on commission.
6.1 Organizational Structure
Fantastic Florals, Inc. will be a Subchapter-S corporation. Legal matters and written agreements are being handled by an FFI consultant lawyer.
The company is organized into three main functional areas:
- Sales and marketing.
- Finance and administration.
6.2 Management Team
- Suzy Rosemadder: President and founder. Graduated from the University of North Carolina (major: management). Originally from Indonesia and has worked for a silk flower company there for five years. Familiar with the Indonesian government and key people there.
- Angela Stalks: On Board of Directors. Previously manager of an exclusive gift shop in Dallas, Texas for ten years. MBA in Finance from University of Minnesota.
- Steven Gardener: On Board of Directors. Will be in charge of marketing and sales. Graduated from Cornell University with B.S. degree in marketing and public relations.
6.3 Management Team Gaps
Each of the three employees is responsible for managing his or her area of expertise. The problems with having only one individual in charge of a department are as follows:
- Lack of understanding of other departments.
- Minimal management experience.
- Sole control over all operations.
6.4 Personnel Plan
The personnel plan indicates one employee for each department:
- Sales and Marketing.
Beginning in 1996, there will be two employees in both Sales and Marketing and Administration.
|Year 1||Year 2||Year 3|
|Sales and Marketing||$14,400||$32,000||$54,000|