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warehouse – a large building for storing items before they are sold, used or sent out to shops, or a large shop selling a large number of a particular items at a cheap rate

to crown – to complete worthily; to make smth perfect or complete, by adding an achievement

elaborate – containing a lot of careful details or many detailed parts to figure – to consider, to believe

crucial decision – extremely important or necessary genuinely – really

shrewdly – skillfully

point-of-sale – the place where the consumer actually buys an article or commodity, usu. a shop, but it may be a mail-order house, market stall, etc.

tester – a small container of a product which you can try in order to see if you like it to enter the market – to start selling goods or services in the market

to push aside – to force back, press back; to edge a competitor out, to oust

operation – the work or activity done by a business, an organization or the process of doing this work; a company or a business

sub-contractor – a person or company that does part of a job which another person or company is responsible for

ceiling – an upper limit, usually relating to money

franchisee – someone who is given or sold a franchise to sell a company’s goods or services

franchisor/franchiser – a company that sells a franchise

gross profit – the amount by which, in a given period, the value of sales is greater than the cost of goods sold, without taking note of any expenses for selling, distribution or administration

operating fee – charge for running a business

to run a company – to be in control of, to manage

to decide against – to make decision not in favour of smb/smith; opp. to decide in favour of franchise premium – the cost of franchise, esp. the amount that smb pays each year set-up costs – the amount of money needed to start a new business, project etc.

to arrange for – to make preparation (for); to plan or settle in advance to provide – to make smith available

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normal credit status (credit rating, credit standing) check – examination or investigation of a borrower’s ability to pay

premises – the land and buildings owned by someone, especially by a company or organization

initial outlay – an amount of money spent for a particular purpose, especially as a first investment in smth

ABC – Audit Bureau of Circulation

kit – a set of things, such as tools or clothes, used for a particular purpose or activity to label – to fix or tie a label on smth

oversight – an unintended failure to notice or do smth

transferable idea – the idea that can be used by anyone without permission to revolutionize – to completely change something so that it is much better

lease – a legal agreement in which you pay money in order to use a building, piece of land, vehicle, etc. for a period

Θ Wendy Rae Body Care Centers Inc of Santa Monica, California, sells a wide range of natural cosmetics and toiletry items, through a world-wide chain of outlets. Although the company has a small number of centers of its own, most of its outlets are operated on a franchise basis. 97% of the products are manufactured by sub-contractors, according to formulas developed by the company. The main activities of the company, therefore, are warehousing and distribution. Since its incorporation eight years ago, the company has been phenomenally successful.

The following article appeared in the October issue of “Business USA”.

Read the article.

BUSINESS WOMAN OF THE YEAR

At the World Trade Center on September 21, Wendy Rae, founder and Chief Executive Officer of Wendy Rae Body Care Centers Inc., received the Wall Street

Chronicle “Business Woman of the Year” award. The award crowns eight years of phenomenal achievement by Mrs Rae.