A one-stop store for auto buffs

About 20 years ago, Ted Wilkinson and his brother started up a one-stop store for everything an automotive fanatic would desire. This business was about selling vintage automotive magazines, shop manuals, clothing, but most importantly the best mint condition miniature models. Ted Wilkinson's store is one of a kind when it comes to selling old vintage items which especially attracts automotive and motorcycle enthusiasts. It would also explain his success in owning his own small business now running side by side with his wife, Lorraine White-Wilkinson. The reason for his success is not only for his store being one of a kind, but also for his love and compassion for automobiles. That was his reason for working so hard in order to make the business work. Some of the difficulties he had were finding suppliers and also there was construction which made it hard for his customers to come.

http://www.canada.com/vancouversun/news/business/story.html?id=04512417-9379-4436-9e35-27e59a63f325

The biggest connection between chapter 11 and this article would be inventory. With Ted's successful business doing $500,000 each year, it must be very difficult for him and his wife to keep track of inventory. As good as his business does, he must always be on top of his game in re-ordering inventory from his suppliers. In business, many customers want their item to be in store instead of them having to tell the manager to order it for them. This has resulted in some very loyal customers that have kept on coming back for 20 years. He also has uses the internet to benefit his business by posting up new featured items on his website. This would allow the possibility for many enthusiasts around the world to buy things online off of Ted's website. When people would order online, many accounts would have to be properly debited and credit to insure that it is a correct transaction.

Ted Wilkinson I believe has done a great job in starting and owning his own small business. I think that in order to be a good business owner, you must incorporate your passion and ideas into one big idea. That is what Ted has done. He had put together his love for automobiles and the fact that there are no other stores around like it. I think that Ted Wilkinson is a modern day entrepreneur because he is selling what many enthusiasts wants which are vintage collectible models of cars. What I also find amazing is how well his business is running with $500,000 in total sales with only 3 employees.