Aussie pies, Inc was founded in Seattle, Washington in 2005, after Anna Amphlett and Andrew Ferris found Aussie meat pies on a vacation to Australia. Meat pie, hand-sized pot pie with biscuits and rolls (ground) beef and sauce, is consumed as a snack food with him to Australia. To obtain financing from Bank of America, the business plan of the company originally forecast sales of just over one million dollars in 2006, the first year of activity. But with aggressive sales and marketing campaign, sales reached $ 6 million in 2006. Although sales far exceeded their expectations, Amphlett and Ferris was disappointed by the fact that net income in the first year was $ 786,000 and that the company had cash on hand of $ 200,000 at the end of 2006.
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by Graeme Rankine Source: Thunderbird School of Global Management 4 pages. Publication Date: August 7, 2007. Prod. #: TB0065-PDF-ENG
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