Loan Application for the Tootsie Roll Industries Gina Brazelton Accounting 561 November 5, 2012 Loan Application for the Tootsie Roll Industries Tootsie Roll Industries (TR) is one of the world’s foremost confection manufacturers. Known more for the chewy, individually wrapped chocolates and the lollipops with the chocolate filling, the company also produces a variety of nonchocolate candies. For more than 100 years, these confectionary products have favorites for young and old. Currently TR is facing decreased revenue because of increased costs of supply, dated technology, and possible diminished popularity. It is researching ways to increase revenue; to do this the organization is seeking financing to revamp its manufacturing process.
Tootsie Roll Business Plan ACC/561 March 11, 2013 Tootsie Roll Business Plan Tootsie Roll Industries Inc. is one of the top candy producers in the world and has been producing candy since 1896. The company is working to qualify for additional financial funding to increase their liabilities by 10%. The appropriate research and financial reporting will need to be completed to ensure Tootsie Roll provides all the proper information to the loan officer. The loan package that is provided to the bank will include a ratio analysis of financial statements, justification of the reason for the loan, and an explanation of how the company plans to use the proceeds from the loan will be outlined in the following business plan. Without accurate information and a detailed business plan, the loan could be considered incomplete and will delay the approval process or possibly cause them to not qualify at all.
Hershey, a long time competitor of Tootsie Roll Industries, Inc was also started back in the late 1800’s by a man from rural Pennsylvania named Milton Hershey. His company took flight when he decided to introduce a chocolate coating to his caramels. With this new found fame he created the Hershey Chocolate Company in Derry Pennsylvania and by the early 1900’s was using the rich milk from the nearby dairy farmers to produce and manufacture his delicious milk chocolate. Some of the delicious products that Hershey sells worldwide are Hershey Milk Chocolate, Twizzlers, Kit Kat, Reese’s, Almond Joy and many more. Today both Tootsie Roll Industries and Hershey are widely known for their candy products along with being publicly traded on the New York Stock Exchange.
To keep up with growing demand they also have an online shop supporting an international customer base. High-class outlets are seen as competitors as opposed to international corporations with wide and well known product portfolios. Hotel Chocolat is always looking for new ways to increase its product collection, but also aims to change just over a quarter of its range each year. This is done predominately through a chocolate tasting club where for a fee, members can sample and offer feedback on new creations. Two reasons for this constant product rejuvenation are to maintain current consumer interest and hopefully draw in new customers, but also to detract other companies from mimicking its ideas.
Hershey is a great company. They produce more chocolate and candies then any other Company around. I do believe it is the first company to build a town entirely for its workers. Also, they make delicious products and distribute them all around the world. Milton Hershey died, in 1945, a very wealthy man, and his company will continue to be very wealthy for years to
Comp II Assignment 3- Evaluation Whitey’s pumpkin flavored ice cream is probably the best tasting ice cream in the Quad Cities Area (QCA). Though several ice cream shops have sprung up in the QCA, Whitey’s not only evokes a feeling of the fall season but, a sense of community as well, especially the pumpkin flavored ice cream. Perhaps I’m setting myself up for a sold out visit to Whitey’s in search of my pumpkin flavored scoop atop a homemade waffle cone but, this ice cream is so good it deserves an Oscar. I understand this topic may seem a bit strange but as I sit down to write this paper, my husband rescues me with a bowl of pumpkin ice cream from Whitey’s. As the turquoise and yellow striped bowl is coming my way, I can’t
As the world best-selling candy bar, snickers is crammed with peanuts, caramel and nougat then coated with milk chocolate (MARS, INC 2012), and according to the data, Snickers is expected to surge from $3.29 billion in global sales last year to $3.57 billion for 2012 and have 1.8% market share, it is acknowledged that Snickers is the top international confectionery brand by the end of year (Schultz 2012). For expanding the market share and consolidating the top position in global, Snickers China is promoting a new arrangement of campaign. It advertises the products by using a series of advertain videos that created by company to attempt to attract and entertain viewers, and sponsored public relative events, Cool Play Day. After ratification of the famous brand in China, Snickers promotes the product under the new slogan ‘Sweeping hunger away, Being on your own’ in the campaign, and it utilizes some nontraditional advertising practice, support media and new special elements in campaign. Security of target audience is the most significant priority in the campaign, Mars Company Handbook claims they will direct their marketing communications to adults who make household purchasing decisions and young people 12 and over, and it even specially claims to people they will not direct marketing communications primarily to
Running head: COSTING METHODS PAPER Costing Methods Paper Jane Doe University of Phoenix Accounting ACC/561 Barbara Kantor November 27, 2012 Costing Methods Paper Super Bakery, Inc. was founded by Franco Harris, formerly of the Pittsburgh Steelers, in 1990. The corporation supplies healthy, vitamin enriched doughnuts and other baked goods, out of an initial desire to make a difference in the institutional food market by targeting school systems nationwide (Kimmel, 2009). While, the company experiences positive growth since its inception, Super Bakery is at the point where it needs to explore a costing system that can establish a more accurate product costing method that can, at minimum, improve control of overhead costs. What strategies did the management of Super Bakery, Inc. use? Formed as a virtual corporation, Super Bakery designed a business model that performs key strategic planning and business functions in-house while outsourcing all manufacturing components as a cost reductions strategy.
How 10 environmental issues impact Ben & Jerry’s Geraldine Peacock Sustainable Business Practices Dr. James L. Miles Sr. April 1, 2012 One company that is making strides and showing evidence of a shift toward a world where environmental protection and business success can go hand in hand while obtaining an Eco-Advantage is Ben & Jerry’s. (Esty, D. C. & Winston, A., S., 2009) Ben & Jerry’s have been making the finest all natural ice cream since 1978. Today, Ben & Jerry’s is owned by Unilever (Unilever, 2012), and their packaged ice cream is sold in stores across the United States and in 29 other countries around the world. Ben & Jerry’s global business is managed out of their Central Support office in South Burlington, Vermont. Their products are distributed in supermarkets, grocery stores, convenience stores, scoop shops, restaurants and other venues.
9-91 4-501 AUGUST 4, 2 0 1 3 J O H N A , QUELCH DIANE BADAME Montreaux Chocolate USA: Are Americans Ready for Healthy Dark Chocolate? In October 2011, Andrea Torres, director of new7 product development at Montreaux Chocolate USA, was poring over data from a recent Nielsen BASES I1 test. Over 15 months had passed since the Consumer Foods Group (CFG) of Apollo Foods had purchased the rights to distribute Montreaux's European chocolate products in the U.S. as a means of increasing market share, in pursuit of upscale market segments. Torres was now satisfied with the research and methodology that her New Product Development (NPD) team had employed to assess market opportunity in the U.S. to date. A board meeting was scheduled for December 10, at which Torres would be expected to make a solid, comprehensive, and compelling presentation on the status of the acquisition/assirnilation of Montreaux and plans for the launch of the new product in the U.S. David Raymond, her division manager, had committed to a set of aggressive sales forecasts that placed even greater sigruficance on the accuracy and adequacy of the research and its application.