Batch : A Roll No : 13 Assignment No : 14 : Prepare a business plan for your chosen small scale enterprise .
Execu ve Summary PC Repair will provide computer and technical consul ng (repairs, training, networking and upgrade service) to local small businesses as well as home PC users. The company will focus on marke ng, responsiveness, quality, and crea ng and retaining customer rela ons. PC Repair was ini ally formed as a sole proprietorship, but was reconfigured as an S Corpora on in December of 2004. PC Repair will at first be a home office start-up, u lizing one studio room in the owner's home and serving customers in the local Ramsford-on- Bitstream area. In the third month of our plan, we will move into a leased office space and hire a second technician. As sales increase, we will hire addi onal personnel.
The Market The very nature of the compu ng industry, with its extraordinary rate of technological development, creates a constant need for businesses skilled in upda ng and advising customers on computer-related issues. In town, the majority of poten al customers are dissa sfied with exis ng op ons, crea ng an a rac ve niche for an innova ve start-up. Small business PC users will provide the majority of our business revenue. Business Week expects the compu ng industry to grow at a rate of 12% and the processor speeds to con nue to expand for years to come, providing a rich resource for sales. PC Repair has decided to focus mainly on the small business market, as these customers typically don't have a full- me IT person, but have full- me IT needs. PC Repair will offer an affordable, on-demand service for these customers. We can also offer maintenance agreements that generate addi onal monthly income. For our residen al customers, we will offer a very affordable and helpful service with a very flexible schedule to meet their needs. Our target market will focus on Ramsford-on-Bitstream and the surrounding areas. Market research indicates there is an abundance of business for a small company such as PC Repair.
Start-up Funding and Financials
To get PC Repair started the owner is providing cash and assets. We are also seeking a shor erm loan, to be secured with the owner's home equity, and repaid within three years. Our conserva ve sales forecasts, based on industry research within the local area, project he y sales in year one, steadily increasing through year three. To reach these goals, we will use an aggressive adver sing campaign to exploit our compe tors' weaknesses. With good cost control, we will see a modest, yet comfortable, net profit the first year, even a er moving into a leased space and hiring addi onal technicians.
1.1 Objec ves
1. To provide the best service available to the community at an affordable price. 2. To generate substan al market share so that PC Repair is a common name. 3. Constant growth in sales from start up through year three. 4. To generate customer sa sfac on so that at least 40% of our customer base is repeat business.
1.2 Mission Our goal is to set the standard for on-site computer solu ons through fast, on-site service and response. Our customers will always receive one-on-one personal a en on at a very affordable price. Our customers will receive the highest quality of customer service available. Our employees will receive extensive training, a great place to work, fair pay and benefits, and incen ves to use their own good judgement to solve customers' problems.
1.3 Keys to Success
Establishing a brand iden ty and genera ng brand recogni on through marke ng.
Responsiveness: being an on-call computer paramedic with fast response me.
Quality: ge ng the job done right the first me, offering 100% guarantee.
Rela onships: developing loyal repeat customers—retainers Conclusion: we can prepare a
business plan for a small scale industry
Ques ons : 1) What are some important business plans to run a business . Ans : Running a successful business involves careful planning and execu on. Here are seven important business plans to consider:
1. Business Plan: A comprehensive document outlining your business goals, target
market, products or services, marke ng strategies, opera onal plan, and financial projec ons. It serves as a roadmap for your business and helps in securing funding, a rac ng partners, and guiding decision-making. 2. Marke ng Plan: Details how you will promote your products or services to your target audience. It includes market research, compe tor analysis, branding strategies, adver sing channels, pricing strategies, and sales tac cs. A well-executed marke ng plan helps in crea ng brand awareness, genera ng leads, and driving sales. 3. Financial Plan: Outlines your business's financial health, including startup costs, revenue projec ons, cash flow forecasts, and profit margins. It also includes funding sources, such as loans, investments, or grants, and outlines how you will manage expenses and ensure profitability. 4. Opera ons Plan: Describes how your business will func on on a day-to-day basis. It includes details about your loca on, facili es, equipment, suppliers, produc on processes, inventory management, quality control measures, and staffing requirements. An efficient opera ons plan ensures smooth business opera ons and customer sa sfac on. 5. Human Resources Plan: Focuses on your workforce needs, including hiring, training, and managing employees. It outlines your organiza onal structure, job roles and responsibili es, recruitment strategies, employee development programs, compensa on and benefits packages, and policies for handling HR issues. A well- defined HR plan helps in a rac ng and retaining talented employees. 6. Risk Management Plan: Iden fies poten al risks and uncertain es that could affect your business and outlines strategies for mi ga ng them. It includes assessing risks related to market condi ons, compe on, regulatory compliance, cybersecurity, natural disasters, and financial vola lity. Implemen ng risk management strategies helps in protec ng your business from unexpected setbacks and losses. 7. Technology Plan: Addresses the role of technology in your business opera ons and growth strategies. It includes selec ng and implemen ng so ware systems for accoun ng, customer rela onship management (CRM), inventory management, and other essen al func ons. Addi onally, it outlines plans for leveraging technology for innova on, improving efficiency, and staying compe ve in the market.
