George's Trains Business Model

One of the largest and oldest model train stores in North America is George's Trains. The company is a family business with traditional values including integrity, fairness, and honesty. George’s Trains deals exclusively with model trains. The business is one of only a few online shops that are solely dedicated to model trains. George's Trains focusses on repair, sales, and the trading of different variations of model trains. Additionally, the company offers everything for train layouts, including scenery items, complete sets, and a large variety of model accessories. George’s Trains has a highly trained and knowledgeable staff, which also offers service to both hobbyist and serious collectors. Although George’s Trains has been a success

This led George into accepting repair jobs from five different model train shops in the Toronto area. George’s Trains successful business can trace its humble roots back to a little basement in Canada. George had a sharp attention to detail coupled with a strong work ethic. These two characteristics helped George quickly become an expert in all aspects of model trains. He quickly established such a strong reputation for his expertise and craftsmanship that customers would often form lines outside his door wanting repair work performed. George did a lot of work for Bob's Toy Trains, and eventually purchased the shop after it went up for sale in 1962 (INTELECOM, n.d.). This was the first store to bear the name George's Trains. George's Trains became a very lucrative and renowned model train business. In 1976, George reinvested the profits made in the first shop and purchase the shop next door (INTELECOM, n.d.). This tripled George’s floor space. George continued to build the company’s reputation through excellent customer service, fair pricing, and honest business practices. George's Trains is one of Canada’s premier model train shops (INTELECOM, n.d.). Their products and services now reach customers around the

Even with the relocation and modern technological advances in the business, Richard and John still operate their business with the same strong values that their further used when he originally founded the business.Capital practices involve capital budgeting and all other practices used to move capital in an organization. According to (Byrd, Hickman, & McPherson, 2013), capital budgeting is the process that a company uses to determine which projects are worth investing in. Capital practices are the practice that a company uses to manage capital in the business. George’s Trains capital practices were centered on having a constant inventory to prevent stock-outs but limiting orders during the slower business seasons. George had established enough confidence with his bank to ensure enough capital flow to keep the business operational throughout the year. George’s Trains made the decisions to follow current trends when trains were not the big moving sales items. He kept the business steady by budgeting in the manner to have enough capital available, to raise inventory levels, in the event the work load suddenly increased. He was careful not to overstock his inventory. This was feasible because