Learning Team Reflection Week 3 Essay - 653 Words

Learning Team Reflection Week 3 Ian Adams, Evelyn Hunter, Maria Palakunnel, Jasmine Simmons FIN/571 October 26, 2014 Richard Vermeer Learning Team Reflection Week 3 Allen Litchman and Laura Trust a husband and wife who worked both worked for corporate firms purchased the Finagle A Bagel business in 1988 in order to relinquish themselves from having to work for others. They have consistently made good decisions and consequently have expanded the business to multiple locations. The team spoke about the importance of due diligence in evaluating conditions for opportunities and then verifying if the projected ROI were sufficient for the organization to undertake. They communicated about using pro forma financial statements to evaluate†¦show more content†¦Once the items for service are delivered, the company is given a period anywhere from 30 – 90 days for repayment. This allows amicable time to get paid for the product produced. Vendors are sometimes flexible and allow the buyers good terms for credit on products. In the video the product of a bag of flour was used as an example as when flour is purchased for the bagel business it is not utilized right away, therefore the revenue gained from the sale of the product from this base product will only generate profit over time (Parrino, R., Kidwell, D. S, Bates, T. W. (2012). The owners of Finagle a Bagel also made sure that they continuously planned to make sure they kept in touch with some of their outside merchandisers in order to keep from being in debt. They also made sure to plan ahead when it came to having enough products to sell to consumers. In the video, the couple mentions that merchandise takes a while to come and sometimes it may not come as soon as it should so prioritizing and planning ahead of time helps the bagel store to not fall store. The team shared the importance of having a good bank to raise the capital. It is also important to know the time frame to pay off the amount, pay schedule and having a good plan to pay off the amount on time is crucial. 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