Joe, a retired vet, and alumni of Cal State University, founded this company Designer Drains. While seeking full time employment as a civilian, he started tinkering in plumbing. He cultivated many clients and started selling parts and distributed materials to others in the industry. After five years he became a “master of his trade” between his knowledge and his reputation. He saw a need in the market for some creativity and design, hence the birth of Designer Drains. He has since hired several individuals to help maintain his focus and his vision. The motto of the firm is “Under promise and over perform.” While Joe began the firm predominately from inside his truck he has also expanded to an online presence at joeplumbingsupply.com. The reason he has reached out to you for financial assistance is he is currently facing some issues. (1) He wants you to investigate the future outlook for the industry. (2) He is concerned about tariffs and trade issues. While he prides himself on being a veteran and providing 100% American Stainless Steel, would he be better off investigating other markets. (3) Joe is a very dynamic and interesting guy. He always wanted to open a store in California. He is curious what new issues and challenges he would have to face if this were to be the direction of his business. (4) Joe currently employs a staff of people and outside contracts others. He is having some labor and union issues. (5) Joe wants to “give back” to society and seeks to contribute to charities. Do you think that is a good idea, what % should be given and will that “social awareness” improve his sales and reputation or merely harm his profit? What should he do? Joe seeks your counsel and advice on the following issues. Read through or research to help him resolve each of these issues.
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