Question

You are a business consultant who has just been hired by a young entrepreneur who is beginning a new business. The entrepreneur plans to start a privately owned business (i.e. grocery, clothing, hairdresser, auto repair, cleaning service, etc.). Your client is uncertain where to locate the business and is looking for your professional advice. Your client's initial thoughts are to establish sales of $200,000 the first year and grow the business at an average annual rate of 20% each year after. As his consultant, you are requested to prepare a report analyzing and answering the following questions:

1. What is the best small business option given today's economy?
2. What are the characteristics of the target market?
3. Who is the competition and what are their strengths and weaknesses?
4. What are your client's strengths?
5. How should the business operate?
6. How should the business be advertised and promoted?
7. How should the business be financed?
8. What are the restrictive laws and regulations affecting this type of business and how should the client comply with these laws?
9. What strategies and plans should be put in place to grow the business by 20% per year?

Answer 1

1. As an advisor, I would propose my customer to enter the enterprise world through as administration - propelled business. Right off the bat, administration business requires least capital venture and it's profits are accomplished nearly when administration is given to clients. Among the recommended organizations cleaning administrations would be generally adept. My customer could settle on legally binding concurrences with people and recruit them on hourly premise according to client necessities.

2. Target showcase is the finished encompassing network. Cleaning administrations are required by all, organizations just as close to home homes. In this way, there is acceptable extension in the market.

3. Different contenders who are in the comparable organizations present significant rivalry. Their qualities could incorporate their settled relations with clients just as laborers. Then again, theor nature of administration may not be as rumored and may have more significant expenses when contrasted with you. Different contenders would be every day laborers or top-hirelings who have lower overheads and in this way charge lesser expenses.

4. Right off the bat, customers have a few alternatives to browse, I.e. they can pick to enlist administrations from any of the cleaning administration organizations. Henceforth, the clients drive the market. Likewise, costs are dictated by clients .

5. Business ought to work in an expert way. Your kin must guarantee they play out the necessary administrations in the given time and guarantee consumer loyalty and rehash business.

6. The business can be promoted through both online just as disconnected strategies. Online techniques would incorporate advancing administrations via web-based networking media gatherings, sharing contact subtleties and reaching the inhabitants of the close by region. Disconnected promoting can be accomplished through notices in papers or data flyers, and so forth. Third type of showcasing would be through relations, for example advancing through the earned contacts.

7. This business would require least speculation. My customer can Co-ordinators orders from the solace of home.

8. I propose my customer to enroll his firm as a sole ownership organization as this is sans bother and requires less documentation.

9. Right off the bat, he should us showcase infiltration system, with the end goal that he builds up his business solidly in the market. Advancing his business and improving the quality and extent of administrations will him procure higher benefits. Rehash clients will be exceptionally important. He can attempt to persuade clients to make yearly agreements which will assist him with building up continued business and income.

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