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City Fish Market

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by

Danny Rousianos

on 20 December 2016

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Transcript of City Fish Market

Which Business did we Choose?
CITY FISH MARKET

The Business Today
Business has been excellent for City Fish. They have been selling lots of fish, and they have been gaining new customers.
They are not involved in any international business because the government made it difficult to do so, and when they sent out fish internationally, it was not fresh.
Accounting
daily sales - print invoices for all the orders for wholesale, and they cash out the cash registers, which gives them the retail sales for the day. They are then added up for the daily sales.
weekly sales - they add up their daily sales, and for monthly sales they add up their weekly sales. At the end of the month, they print out month end reports.
Income statements and balance sheets are computer generated, and are given to thier accountant once a year at year end.
Accounting is the most important aspect to City Fish Market besides sales because it keeps track if the business is making sales or not which can help with the business improving itself.
They do accounting the same now, as they did when they first got the business.
Every year, Gus forecasts what sales will be like for that year, and he sets a goal of a 5% increase for the year's total sales.
Advertising
The main way they get their customers is by word of mouth, and at some events, they will have a sign.
They also have some merchandise like hats, t-shirts, and jackets.
When a chef at a restaurant that City Fish Market supplies fish transfers to a new one, that chef will still get their fish from City Fish Market.
Currently, City Fish Market supplies fish to many famous restaurants across Toronto, like Harbour 60, The Octagon, and La Fenice.
Would We Recommend City Fish Market?
Yes, of course! City Fish Market has been named the best fish store in the city (third best by some websites), and it has always had great reviews. As Gus has been on television before, that halped him gain customers for the store.
About the Fish Industry
City Fish Markets's competition is anyone who sells fish, but their main competitors are Dianna's and Deep Seas.
The fish industry is very big and City Fish Market has a small percentage of market share.
Although the fish industry is very big, the meat industry is much bigger and more competitive, as Gus used to be a part of it. That is why Gus decided to switch to the fish industry
City Fish Market's target market is anyone who eats fish.
Stories
When Gus was trying to buy City Fish Market from the previous owner, the bank pulled out fir giving a loan at the last minute, and he was left scrambling to find money.
A customer once called to ask how long she should cook her salmon for in the oven. They asked her how long she had the salmon for in the oven, and she said for an hour. Salmon only takes ten minutes to cook in the oven.
When you fillet a fish, you cut the fish in half so you can take the bones out. Many customers have asked how many pieces of fish they will get if it's filleted. Even though, filet in a fish means cutting it in HALF
Many customers have asked if the frozen fish is fresh....
Business Culminating
By: Rosa Le and Danny Rousianos
THERE IS ONLY ONE LOCATION
Address : 2929 Dufferin Street, Toronto, ON M6B 3S7
Phone Number : (416) - 256 - 7373
Was bought by Gus Nikoletsos in July 2002 and has been running for 14 years
Gus Nikoletsos is the current owner
City Fish Market is a Sole Proprietorship that currently has 18 full time and part time employees
Full transcript