Other Use of ABS
Apart from Malley industries using Abs for the manufacturing of ambulances, the company is also known to use the product, Abs plastics for the manufacturing of profitmaking motor vehicles such as trucks, trailers, cars, specialist vehicles including mobile construction machines(“Malley Industries Inc.”, 2019). The firm is among Canada’s major adaptive mobility manufacturers that specialize in the production of paratransit vehicles on a diversity of vehicle platforms.
It took a period of two decades for Malley industries to experience a success story in its business ventures. With its strategic location at the center of Atlantic Canada, the firm has emerged to be a leader in the Canadian custom cars, trailers, and trucks modification firm or company. Just like any other business, the success of this firm is attributed to the company’s deep family connection(“The Canadian Business Journal”, n.d.). It is the connection that has seen the company receiving new clients or customers across the whole country. The ties or connection helped in making the company’s products to reach out to many potential customers.
The company was founded by Terry Malley together with his parents in the year 1979. Terry later became the firm’s president in the year 2000. The company was formed with the objective of making quality manufactured products which are related to niche opportunities in the automotive sector.
With time the company’s products were made known to almost every corner of Canada. The demand for the firm’s products accumulated tremendously thus making the company concentrate more on the manufacturing of its products(Bruce, 2015).As at per now the products of the company are in very high demand in the whole country of Canada. It is this aspect that has necessitated the company to put much focus on producing a large amount of the products due to the readily available market.
The main or major purpose of a business to be in existence is to make a profit. It is in spite of the fact that there can be other reasons such as making sure products are available to customers. Additionally, other businesses exist with the aim of accomplishing some social responsibilities in the society such as paying fees for the needy. It is the same case with Malleyindustries its sole purpose of being in existence is for profit for making.
The company acquires raw materials, which are then used for the manufacturing of cars and trailers among others, at a cheaper prize then utilizes the raw material for production purposes. The quantity made out of the raw materials is promising(Jenkins & Yan-kuo, 2016). Eventually, when the products are sold, the money got is twice to thrice of the funds used in acquiring the raw materials. This simply shows that the company at least makes a profit of 100%.
A small percentage of the profit is used in paying of government levies and paying the company’s workers. At the end of it all, the company remains with profits of more than fifty percent. For any business, profit’s percentage is very promising. It is huge enough to make a business to have confidence in its future operations(Jenkins & Yan-kuo, 2016). Hence, the benefit the business gets in its products is higher than the cost the business uses acquiring the raw materials which imply that the business gets some profits in its ventures. Thus, the business has a brighter future and it heads in the right direction.
In conclusion, it is very important for business people to be patient in the event they feel they are not making a profit as they had intended initially. For instance, there was no success for Malley industries during its first years of operation. However, the business did not stop its operation. It soldiered on until the early 2000s when it first started to get some considerable profits, courtesy of close family connections and ties. Additionally, other business personalities should ensure that they develop strong business ties with different people who can assist them in the marketing of their products to potential clients.
References
Malley Industries Inc. (2019). Retrieved from https://www.malleyindustries.com/
The Canadian Business Journal. Retrieved from http://www.cbj.ca/malley_industries_putting_the_world_in_custom-made_vehicles/
Bruce, A. (2015). Shop Class [Ebook]. Retrieved from https://www.atlanticbusinessmagazine.net/wp-content/uploads/2015/10/v26n6_malleyindustries.pdf
Jenkins, G., & Yan-kuo, C. (2016). Canadian Regulatory Cost-Benefit Analysis Guide. Retrieved from https://ideas.repec.org/p/qed/dpaper/168.html
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