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L & R Banno Pty Ltd trading as amity child

L & R Banno Pty Ltd trading as amity child. Micro Business. Clothes, toys, gifts for babies, kids and tweens. Retail business Children’s clothes and toys for ages newborn to 12 years of age Established for 7 years Micro business (2 people) Private company Shop front located in Dural.

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L & R Banno Pty Ltd trading as amity child

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  1. L & R Banno Pty Ltdtrading as amity child Micro Business

  2. Clothes, toys, gifts for babies, kids and tweens • Retail business • Children’s clothes and toys for ages newborn to 12 years of age • Established for 7 years • Micro business (2 people) • Private company • Shop front located in Dural Small Business Enterprise

  3. What motivated you to have your own business? • New business, started from scratch • Two reasons: • always wanted to have my own business (my own boss, expressing myself) • working at a children’s store prior to this, saw a market need Small Business Enterprise

  4. What was some of the best information or advice you were given/sought prior to starting the business? • Set up: Accountant suggested private company • Researched the competition • Customer feedback Small Business Enterprise

  5. Some of the qualities and/or skills you need to run a successful business are: • Self motivated and a strong determination • Passion for quality toys and clothing • 15 years experience in retail (ladies clothing) • Organised and diligent Small Business Enterprise

  6. How do you organise the main functions in your business? Who is responsible for each? • Main functions of the business are • Sourcing appropriate product • Ordering stock • Advertising • Providing customer service • Record keeping and financials (outsource end of year financials) • Shop presentation Small Business Enterprise

  7. Who is your target market?How do you reach them? • Mums with children (newborn to 5 years) • Grandparents • Digital : Mobile phone and facebook page • Print: Flyers distributed to local primary schools and local community magazines • In store competitions • Word of mouth • All marketing support has a Summer focus Small Business Enterprise

  8. Challenges along the way have included: • Under financed – NOT enough cashflow • Impacted by global financial crisis • Increase in online shopping Small Business Enterprise

  9. The keys to success • Unique and affordable product range • Knowing who our customers are • Control over stock levels • Excellent customer service (in store and follow up) • Good location Small Business Enterprise

  10. Where do you see your business headed? • The business is up FOR SALE • If did keep the business: • Develop a business plan • Keep it small • Set up a website for online sales • Change range to more toys than clothes • Focus more on educational products Small Business Enterprise

  11. Question time

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