REALLY GOOD YARN COMPANY
Introduction:
The company was founded by Big Mama. Big Mama was formerly the editor of the Knitting Magazine, which was one of the largest arts and crafts website and publications of the nation. Big Mama noted that the yarn industry was dominated by cheap, acrylic yarns and in 2010 decided to form a company after teaming up with Bill Mill, the owner of Bill’s Textile Mills.
Big Mama hired a designer who continued working with the company and within a year bought out Mr. Mill to gain 100% control of the company. In 2012, Big Mama brought his son, Sonny boy Slim, to serve as the operation manager who was a graduate of Suffolk University. Sonny Boy Slim helped the business to push from online web retail sales to an expanded presence with indirect whole sale.
Current Situation:
The company’s sales revenue in the year ended 2014 was of $1.342 million with 9 full time employees. The main market for the company is the United States with 78% share and 22% international market share. However, Big Mama wants to retire as the CEO of the company and wants $500,000 in cash, after taxes, fees and all other expenses to be able to retire. Even though the recent growth in the business is because of Sonny Boy Slim however, she wants the money and cannot gift the whole business to her son. Sonny Boy Slim has just bought a house and has no money to buy the business from Big Mama..................................
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