Monday, April 8, 2013

How to make a Business Plan? / Making a Standard Business Plan



 GM PC World

23 Green Road, Upashohor, Rajshahi-6222
Phone: +8801723732501

Co-owners: Mizanur Rahman, Mukta & Shojib.

Description of business:

This business will provide each customer personally tailored computer based on their particular needs, so that customers will not have to pay for what they don’t need. By carefully analyzing a customer’s needs and preferences, GM PC World can provide a perfect fit based on the customer’s intended uses, and the computer will be built instantly in the store. GM PC World’s also aims to assist the elderly and less informed computer shopper to make their shopping experience as pleasant as possible.

Financing:

Initial financing requested Tk. 100 million loans to be paid off over 10 years. The date will cover office space, office equipment and supplies, ten leased van, advertising and selling cost.
This report is confidential and is the property of the co-owners listed above. It is intended for use only by the persons to whom it is transmitted, and any reproduction or divulgence of any of its contents without the prior written consent of the company is prohibited.

Executive Summary:

GM PC world’s aim is to offer its customers the flexibility of a custom built computer while providing a friendly and personal shopping experience. Unlike its competitors, GM PC World will give each customer a personally tailored computer based on their particular needs, so that customers will not have to pay for what they don’t need. By carefully analyzing a customer’s needs and preferences, GM PC World can provide a perfect fit based on the customer’s intended uses, and the computer will be built instantly in the store. It has also aims to assist the elderly and less informed computer shopper to make their shopping experience as pleasant as possible. GM PC World is a privately held corporation run by its owner, Golam Mostafa. Mostafa has six years of experience in computer building and repair, with two years of employment at Computer Renaissance, where he sold, repaired, and built computers and accessories. He has also maintained a private computer repair service for two years. He will be supported in daily operations by an assistant manager/computer technician and a part-time assistant manager, both with extensive experience in computer repair, sales, and management. With technology growing rapidly and a large generation still knowing so little about computers, there is a strong need for personal computer shopping. With specialized technology and graphic and speed intensive PC games and software, the lack of power in shelf bought computers calls for a more needs based method of computer shopping. One that doesn’t require the consumer to spend more money than necessary on features he or she will never use. Because computers have so many uses, many consumers spend a lot of energy trying to find an affordable computer that will do what they need, and no more. GM PC World will compete well in our market by providing the leading edge in computer technologies, high-quality, reliable machines built by competent, certified technicians, by delivering the highest quality in customer support while offering a friendly and pleasant atmosphere at competitive prices, as well as building a strong reputation with clients through unmatched service and customer satisfaction. GM PC World will focus on one major shopping center: Computer city’ which is a dynamic lifestyle complex located in Rajshahi’s upscale Grassland area, and offers a total of 610,000 square feet of mixed-use space. The outdoor mall also includes a movie theater, hotel, restaurants, and second-floor commercial office space. Our target customers will be a wide range of ages, seeing as how nearly everyone uses computers. However the elderly, who generally know too little about computers to efficiently shop for one, and teenagers/young adults that play PC games that require more power than the average computer, will be our primary focus. Our services can be suited for consumers of nearly every income class, from the lower middle-class through the high-class consumer. We will open for business on July 1, 2012. We project healthy revenues by the end of the first year, and expect to triple that by the end of 2014. Our biggest operating expenses will be rent on our facilities and the first stocking of a wide range of computer parts and accessories. We would eventually like to grow into a franchise, but growth will be determined based on future cash flow and earnings. We anticipate a net profit beginning in our second year. Such a proposed business requires a considerable amount of investment. Consequently, sufficient funding in the form of an SBA loan would be a vital step in the startup for this business.

Company Description:


1.1 Goals


1. Sales increasing to almost double first year sales by the end of Fiscal 2013.
2. Maintain a high raw gross margin by the end of Fiscal 2012.
3. Begin franchise effort by end of Fiscal 2013.

1.2 Mission


In this day in age, computers have too many different uses for consumers to purchase computers intended for a general market. Technology changes rapidly, and so do the prices. Often consumers end up paying too much for a computer either due to lack of knowledge or lack of options. Most computers available off the shelf today have more features than some would ever use, especially the elderly. With an all GM PC World’s store, a person with little or no knowledge in computers can purchase a totally new and reliable computer personally suited just for them and spend the least amount of money possible. This method of computer shopping would offer the advantages of a shelf bought computer, such as warranties, quality, and reliability. And with a more personal than ever customer relationship and premium customer service, customers know they will have a reliable support service to go to if they have a problems or questions about their product. No more calling a technical support hotline or sending computers back to the manufacturer. GM PC World is a one-stop shop for virtually any computer shopper. The store dedicates its efforts and resources toward ensuring top-notch customer satisfaction while meeting the needs and budgets of every shopper, from old folks to gamers.



1.3 Company Summary


GM PC World will be located in 23 Green Road, Upashohor in Rajshahi. The store will apply 8 key principles that will define the business and its services:

§  High Quality Custom Built Computers
§  World Class Customer Service and Support
§  Up To Date Technology, Parts, and Equipment
§  Skilled, Competent, and Friendly Staff
§  Full Range of Peripherals, Games, and Services for Gaming Customers
§  Patience, Understanding, and Guidance for the Less Computer Literate Shopper
§  In-Store, Same Day Repair Warranties on All GM PC World Machines
§  A Relaxed, Friendly Atmosphere and a Pleasant Shopping Experience

1.4 Company Ownership


GM PC World is a privately held proprietorship owned by its founder, Golam Mostafa. The company intends to eventually expand into a franchise, when it will re-register as a limited liability company.

1.5 Location


GM PC World will focus on one major shopping center: Computer city which is a dynamic lifestyle complex located in Upashohor Colony area, and offers a total of 610,000 square feet of mixed-use space. The outdoor mall also includes a movie theater, hotel, restaurants, and second-floor commercial office space.

1.6 Financial Overview


Initial working capital requirements will be Tk. 500000, which will consist of owner’s capital and a business line of credit from a financial institution.

1.7 Effective Date of Business


We will open for business on July 1, 2012. We project healthy revenues by the end of the first year, and expect to triple that by the end of 2014.


Industry Analysis:


2.1 Description of Industry

 

The personal computer industry is a vast and rapidly growing market. With very few, if any, businesses offering our services, there is little or no competition in the GM computer niche. However, we will have to compete on some level with off-the-shelf retailers. Personal computer sales have been expanding since the 1980s, and further growth in the industry is almost guaranteed.

 

2.2 Trends


Older baby boomers are beginning to buy computers, especially for basic functions such as banking and emailing. In addition, gaming is becoming very popular among the younger generation.

2.3 Strategic Opportunities


Off the shelf computers do not meet the needs for these groups. GM PC World will take advantage of these unmet needs while redefining the standards of computer retailing.

2.4 Target Market


Our target market is any potential computer buyer. While our services may appeal most to the less informed shopper and gaming community, our target market will remain broad, because every consumer can benefit from a custom computer. This includes professionals using processor and graphic intensive software, or anyone that uses any kind of specialized application:

§  Graphic designers
§  Video editors
§  Visual artists
§  Architects
§  Scientists (Biologists, Physicists, Chemists, Researchers)
§  Software Developers
§  Engineers

The number of uses for computers is so vast, and because they make nearly any process more efficient (for both businesses and consumers), that number will continue to grow. Consequently, the need for specialized computers is significant, and will continue to grow.

2.5 Market Potential

 

The number of uses for computers is so vast, and because they make nearly any process more efficient (for both businesses and consumers), that number will continue to grow. Consequently, the need for specialized computers is significant, and will also continue to grow.

 

2.6 Current Patterns


With technology in computers advancing at such a high rate, the computer retail business is prospering. Baby boomers and elders continue to enter into the age of computing. As hardware capabilities develop, so does software and games. Businesses and corporations are finding more and more uses for computers every day.

2.7 Sensitivities

Each of the following is sensitive factors pertaining to the industry, which could potentially affect the buying behavior of consumers:

§  Technological advances
§  Increased capabilities and functionality
§  New ideas


Description of Venture:

As the demand of using computer is increasing so our actual mission will be entered into the market and capturing it. As the competitors are available so we will diversify our products from others and try to make better performance. On the other hand, if we take a look of our present condition of computer markets in Bangladesh it not highly competitive and there is no special brand for customers also. That’s why it’s a better time to enter into the market and create our own brand value which will attract the customers and it will be the key to success of our company.
As the head office building of GM PC World located at the center of city which is our own property. So for primary distribution of our product, the head office which is located 23 Green Road, Upashohor, Rajshahi-6222 will work. And after the primary recommendation we will spread our business by setting outlets in different places of the country.
All types of office equipment are already purchased for maintaining official work.
3.1 Products:
Our product pattern will be 3 types like desktop computer, laptop computer and tablet pc.
3.2 Services:
After sale service for every product will be at least 3 years from the selling date.
3.3 Office equipment and personnel:
 Having different types of equipment.

Marketing plan of GM PC World:

A. Market Analysis

A.1 Target Market:
 Our main target market will be the urban people firstly. As the demand of computer is high among the young people. So the youth are the main consumer of our product. So we can say the target market will be the young people of urban area.

A.2 Competition:

As we have few competitors, so we have to ensure our strength and remove our weakness. The servicing facility and the after sales service is the main strength of our company which is the weakness of our competitors. Moreover we provide the facility of purchasing our product via online service.

A.3 Market trends:

Customers are persuaded gradually in techno sectors. So our market trend will be captured the customers.

B. Marketing Strategy

B.1 Method of Sales and Distribution:

Our distribution & sales will make from our central show room. We offer our product via online service also. If anyone wants to purchase our product via online then he/she have to enter into the website as describe it above.

B.2 Pricing:

Our pricing strategy will depend on in international market. Though the market price is different in local market but we will try to keep the price constant based on international market, as the industry is totally depend on international market.

B.3 Branding:

As there is no highly selected brand in our country, so we may build our brand highly selected to the customers by adding different types of value.

B.4 Sales Strategies:

 Our first sales strategy will be direct sales. Because, we can go closer to the customers by using it.  And come to know the mental affection and the real desire of the customers. Moreover online sales strategy will be followed. And other sales strategies like affiliate, reciprocal, and viral marketing will also be followed step by step.

B.5 Sales Incentives/Promotions:

 For sales promotion we will offer some special incentives such as samples, coupons, online promo, add-ons, rebates, etc.

B.6 Advertising Strategies:

 Firstly we will use the traditional advertising strategy and for better performance we will follow web/new media, long-term sponsorships.

B.7 Public Relations:

By ensuring different types of social work we try to build better public relations. Moreover we will use online presence (facebook, twitter, you tube etc.) events, press releases, interviews etc. for the relationship with the public.

C. Customer Service

Description of Customer Service Activities:
Customer service will be given from our central office. Customer will be given at least 3 years after sales service. As we will offer online customer service, so it will help us to create goodwill in the market.

D. Implementation of Marketing Strategy
Out-Sourced Functions:
Out sourced implementation of marketing strategy are advertising, public relations, marketing firms, ad networks, etc.



Organizational plan:

Form of ownership: Our business ownership will be partnership business. We are 2 members who fund for the business. Here all type of profit, loss and risk will be distributed equally.
Business management will be-


Chairman

Manager



                                                                                                                                     


Accounting Manager

Sales Manager
Finance Manager







The company chairman has only check signing power. If any amount of balance needed then the manager should go through the check to the chairman and after his sign it will be transferred into cash.


Assessment of risk:

§  Weakness: The weakness of the company is, as the business is technological and electrical, so there have a chance of various types of occurrence. On the other hand new technologies are being updated and people are always like to use new technologies. So most of time supply of new technology cannot perform in time.
§  Threats: the threats will be the performance of better technology by others.


Appendix:


§  The information of industry analysis and market research is collected from the globalbd.com and DSE and from SEC.
§  The business contract followed the partnership business act 1932 of Bangladesh.
§  Price list on suppliers is given below-

Product name
Price(Tk.)*
Desktop PC
25000-90000
Laptop PC
22000-250000
Tablet Pc
50000 & above
Hard disk
6000 & above
Processor
10000 & above
Pen drive
450 & above
Printer
2500 & above
Scanner
2000 & above


*The Price product will be depended on the international market. So if there is any change in international market then change will happen in internal market too.
Moreover we have some extra computer related products for the benefit of our customer like some special software, different computer parts etc.

Golam Mostafa

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1 comments:

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