Keegan and Hossein founded Apadana Holdings, which operates under the name Mica Paint and Hardware. Their primary establishment, Mica Parktown North, was constructed from scratch and launched on August 25, 2021, with the purpose of catering to the community members and construction professionals in the vicinity. The business recently purchased an additional store in Emmarentia and commenced operations six months ago. The duo intends to broaden their operations to Bryanston within the time frames of 2024 and 2025. The initial capital investment for the establishment of Mica Parktown North, the group's first store, was R4.5 million. However, on the opening day of 2021, this amount suddenly increased to R6.5 million. After experiencing an initial decrease in the number of people visiting the store when it first opened, there has been a consistent and noticeable growth in foot traffic. As a result, the store is now becoming the preferred brand for local residents. The store now handles an average of 15000 to 20000 sales transactions every month. Mica Emmarentia was formerly owned and identified as Barneys Paint Center. Apadana Holdings purchased the store and promptly changed its name to Mica Emmarentia. However, this re-branding process presented numerous obstacles for the store, as it had to deal with the awful reputation acquired from Barney's and the low number of customers due to adverse opinions. The directors have made improving the public opinion of the business a priority and a significant component of the store's growth plan. Mica operates under a membership model, meaning that each Mica store is owned and operated by its members. Apadana Holdings obtained a licence to engage in trading activities using the Mica brand and pays a monthly membership fee to Mica. Mica offers comprehensive assistance through training, marketing, franchise merchandise benefits (with partnerships with 400 National Supply Partners), and store development. Through conversations with Apadana Holdings and on-site visits conducted by the syndicate team, it became evident that their strategic goals for both locations are focused on improving process efficiencies related to inventory management. This includes areas such as data management, manual record-keeping, and analytics. Accomplishing this goal will help in delivering an ideal and smooth client experience. Suggest various digital technology solutions that MICA can use. Explain in detail.
Keegan and Hossein founded Apadana Holdings, which operates under the name Mica Paint and Hardware. Their primary establishment, Mica Parktown North, was constructed from scratch and launched on August 25, 2021, with the purpose of catering to the community members and construction professionals in the vicinity. The business recently purchased an additional store in Emmarentia and commenced operations six months ago. The duo intends to broaden their operations to Bryanston within the time frames of 2024 and 2025.
The initial capital investment for the establishment of Mica Parktown North, the group's first store, was R4.5 million. However, on the opening day of 2021, this amount suddenly increased to R6.5 million. After experiencing an initial decrease in the number of people visiting the store when it first opened, there has been a consistent and noticeable growth in foot traffic. As a result, the store is now becoming the preferred brand for local residents. The store now handles an average of 15000 to 20000 sales transactions every month.
Mica Emmarentia was formerly owned and identified as Barneys Paint Center. Apadana Holdings purchased the store and promptly changed its name to Mica Emmarentia. However, this re-branding process presented numerous obstacles for the store, as it had to deal with the awful reputation acquired from Barney's and the low number of customers due to adverse opinions. The directors have made improving the public opinion of the business a priority and a significant component of the store's growth plan.
Mica operates under a membership model, meaning that each Mica store is owned and operated by its members. Apadana Holdings obtained a licence to engage in trading activities using the Mica brand and pays a monthly membership fee to Mica. Mica offers comprehensive assistance through training, marketing, franchise merchandise benefits (with partnerships with 400 National Supply Partners), and store development.
Through conversations with Apadana Holdings and on-site visits conducted by the syndicate team, it became evident that their strategic goals for both locations are focused on improving process efficiencies related to inventory management. This includes areas such as data management, manual record-keeping, and analytics. Accomplishing this goal will help in delivering an ideal and smooth client experience.
Suggest various digital technology solutions that MICA can use. Explain in detail.
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