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Executive Summary Of Rick's Wicks Candle

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RICK’S WICKS XXXX Park University Rick’s Wicks Executive Summary A. Rick’s Wicks is located in the shopping center on Warm Springs Road in Columbus, GA. The phone number is 706 555-5555. B. XXX is the owner and manager of Rick’s Wicks. Mr. XXX is located at XXX C. Rick’s Wicks is a candle emporium that offers a wide variety of candles, candle holders, and candle making supplies. D. Rick’s Wicks intends to appeal to as large a market as possible by offering all major types of candles and candle paraphernalia. The variety of products offered includes those for; decorative purposes, therapeutic value, functional needs, collectable items, and make your own candles. E. Rick’s Wicks …show more content…

Significant Trends In “The Candle Report, 2003” from Unity Marketing, it is noted that “consumer demand… is starting to slow, particularly as baby boomers mature beyond the prime 44-years-old-and-younger age range which characterizes the most enthusiastic candle consumers.” (Unity Marketing, 2003) The “Home Fragrance and Candle Report, 2005” also from Unity Marketing details that “The market for candles and home fragrances reached $8.4 billion in 2004 on growth of 14.1% over the previous year. Driven by consumer’s desire for their homes to smell good.” (Unity Marketing, 2005) This trend indicates that as one market segment, baby boomers, may be declining the overall market is increasing and has a healthy growth rate. Growth Rate Unity Marketing in its “Home Fragrance and Candle Report” has reported an industry growth rate of 14.1% in 2004. (Unity Marketing, 2005) In it’s 2005 annual report to the Securities Exchange Commission The Yankee Candle Company, Inc reported an increase of Retail Sales of 8.5%, an increase of Wholesale Sales of 9.8%, and an increase of Gross Profits of 6.2% for the fiscal year ended Dec, 31 20053. (Securities and Exchange Commission, 2006) Candles for home decorating and alternative healing applications are also showing increasing growth rates. Barriers to Entry and Exit. There are no significant

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