Table of Contents
1. Business overview 1
1.1. Business name
1.2. Business logo and slogan
1.3. Prime function
1.4. Location
1.5. Legal structure
1.6. Vision statement
1.7. Mission statement
1.8. Personal objectives
1.9. Staffing
1.10. Staffing prerequisites/requirements
1.11. Business equipment prerequisites/requirements
2. Marketing plan 3
2.1. Marketing objectives
2.2. Target market
2.3. Competitors
2.4. Product
2.5. Price
2.6. Promotion
2.7. Place
2.8. Situational analysis - SWOT
3. Financial plan 7
3.1. Financial objectives
3.2. Start-up costs
3.3. Variable costs
3.4. Sales forecast
3.5. Future Prospects and Business Viability
Appendices 10
Appendix A: Logo, business card and advertisement
Appendix B: Market research
Appendix C: Breakeven point analysis
Appendix D: Cash flow forecast statement
Appendix E: Revenue forecast statement
Plug n’ Play
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1. Business overview
1.1 Business name
The business name is ‘Plug n’ Play’, which reflects the business’s purpose, that is, to provide electronic hardware advice and installation assistance to consumers who might not have the time, expertise, or capacity to choose or install the product they need. The name is short and easy to remember, with the term ‘Plug n’ Play’ being common language, conveying the image of a quick, simple, and stress-free service.
1.2 Business logo and slogan
The logo features the business name and slogan, with the colours being white, black and green. It features the end of a power cable, to visually communicate that the business is about electronics. The motion lines behind the italicised text indicate that the services are fast and quick to obtain. The slogan “The electronics and installation experts” reinforces the business name, further identifying the service provided, and projecting the expertise of the business. (See cover image and Appendix A.)
1.3 Prime function
The business will assist customers to find the electronic product they require for their specific needs, with a non-biased perspective, and will also install such products. The business will help customers avoid the confusion that arises from the different information given by retail outlets, where sellers are biased toward certain products that may not be what the customer needs. Plug n’ Play aims to eliminate this bias by providing the key information the customer needs.
1.4 Location
The business will operate in the Canberra region. A fixed location (an office) is not required during the establishment phase as it is a mobile service. Plug n’ Play’s services will be provided by phone, through email, and in the clients’ own homes.
1.5 Legal structure
The legal structure is ‘sole trader’. The major positive of this structure is that it allows the owner flexibility in many aspects of the business, and complete control of decisions making and the direction of the business. Other structures, like a partnership or a company where other people are involved in the business, have positive aspects such as coverage when illness occurs, but in this case these are outweighed by the flexibility and strong sense of control and belief that a sole trader will bring to bear to make this business grow and succeed.
Plug n’ Play
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1.6 Vision statement
Plug n’ Play’s aim is to ‘beat the bias’ of the big retail electronics outlets by providing each customer with a non-biased, friendly, down to earth, and stress-free service. ‘Plug n’ Play’ aims to become a major player in the market nationwide, potentially through franchising.
1.7 Mission statement
Plug n’ Play’s mission is to achieve the business’s vision, whilst maintaining a prompt, friendly, reliable and expert service. The business will be operating in the electronics services sector, providing assistance to the target market of persons aged 25-70 to help them choose and buy the right product, delivering it and installing it, all at reasonable prices.
1.8 Personal objectives
The personal objectives of the