Business Plan on Geared Up - Free Essay Example

Business Plan Contents Goals Short term goals: Long term goals: Strategies Business description and outlook Management and Ownership Operational plan 6a- roles of staff employed in the organisation Inventory of equipment Floor Layout Marketing plans Products Promotion Internal promotion External promotion Place . Goals Goals are desired outcomes that the business wishes to achieve. Goals are important to a business as it acts as a target to reach for individuals and the company as a whole, acts as a bench mark to which a company can measure their performance, works as a form of motivation and to show a sense of commitment. Goals can be categorised as long term or short term and within these are goals that are financially based or non financial. Listed below are the goals of Geared Up organised into long or short term. Short term goals: Create and improve on company website (within the first month) Have a social media page that will be actively posting updates on new products and specials (within the first 3 months) Attempt to match main competitor price, JW computers, (within 9 months) Have advertisements near traffic lights and on public transportation i.e. bus stops, in trains and on busses ( 6 months) Offer home assistance for easy to fix computer problems (first 2 months) Have business cards and hand out pamphlets (within first 4-6 months) Offer home delivery Long term goals: Create own line of computers and peripheral devices- 3-5 years Buy a warehouse to store products in a suburban area that is relatively close to minimise transportation costs but still is effective for storage uses.- 2-4 years Increase gross profit by 10-15% in the first 2 years then, Increase revenue by 20-45 % for 2-4 years after the initial 10% increase Sponsoring and Supply the equipment for professional gaming scene targeting market favourite game League of Legends- within 3-4 years Become a franchise. Strategies Short-term goals Long-term goals Acquire assistance from a professional web designer in order to get a user-friendly website that also provides customers with information on products Maintaining the page so it does not become dead content and make it as appealing as possible Determine whether it is a feasible option to match the prices and distinguish if we will make up for losses in the future Have a marketing consultant assist in developing the most effective high quality and appealing advertisements Have a professional card designer assist us in creating a simplistic yet effectual business card and pamphlets Creating business cards as well as handing out pamphlets to raise awareness of the services we offer while also providing a contact number. Maintaining a positive cash flow as well as consulting people that play a range of computer games in order to see what they look for when looking to purchase a computer or peripherals Discuss with a real estate agent where would be the most ideal location so it is beneficial for convenience, price and size. After achieving a more stable condition discounts, coupons and sales will be utilised to à ¢Ã¢â€š ¬Ã…“lureà ¢Ã¢â€š ¬Ã‚  customers in the shop ultimately, increasing income. Having a meeting with a teamà ¢Ã¢â€š ¬Ã¢â€ž ¢s captain and manager in order to negotiate sponsoring and supplying them with products and in exchange they promote the company and wear our symbol The business will hire a business consultant and discuss the most optimal locations to open up another franchise. Interviewing will be held as well as trailing in the current store to look for branch managers Business description and outlook à ¢Ã¢â€š ¬Ã…“Geared Upà ¢Ã¢â€š ¬Ã‚  is an electronic store that it part of the tertiary industry that is focused primarily on selling computers and computing accessories such as keyboards, mouses and headsets and supplying these products for a range of various uses such as at home/office based work, gaming or an all rounded computer. We also provide computing assistance, repairs and maintenance. The greatest competitor in the area will be JW computers who are although new in the area have already developed a strong customer base due to their reliability and great value. Despite the fact that JW computers is not too close to the store they prove to be a threat as both them and us provide the same services. However, Geared Up aims to develop strong goodwill and a solid customer base and in effect more potently strive in this market. There are many reasons why this business is being opened: Seeing growth in the computing and gaming field opening up new opportunities for entrepreneurs. Refer to appendix one With the belief that this business can provide better service and products then competitors such as JW computers and JB HI FI Our passion for computers, gaming and developing great accessories to optimise the gaming experience for all gamers and computer users. The demand for computer assistance and repairs in the area. Management and Ownership Geared Up is a Small sized business that is registered as a sole trader business owner Justin Saliba will hire store managers after a large amount of interviewing and finding the right applicants in order to maintain functioning of the store when the store manager is not available. Being a sole trader has many advantages and along with these many disadvantages. One major concern is the fact that sole traders have unlimited liability meaning that If the business is unable to meet any financial obligations or settle any outstanding liabilities, the owners personal assets can be seized to satisfy the debts. However the potential benefits can possibly outweigh the negative aspects these include: see appendix two for a pros and cons table Efficiency setting your own deadlines Control maintaining full control of the business and running it without interference of other people. Profit allowing you to retain the full amount of profit made and doing what you want with it. Decision making make decision to your liking and carry them out the way you find most viable. Self reliance relies on your own power and resources rather than being dependant on someone elseà ¢Ã¢â€š ¬Ã¢â€ž ¢s. ( this does require you to stay self motivated) Financial independence Job security with the fact that you are your own boss. 5b- Details of management structure and division of labour. Geared up will take up a flat organisational structure, that is, a structure that minimises the levels of management between owner and employees. This is ideal for a small company that is just starting off as it removes salaries of middle management and unneeded layers of management allowing for more efficient communication and coordination. This structure also prompts the employees to be more productive as they are involved in decision making and determining the success of the business Operational plan 6a- roles of staff employed in the organisation Store owner- the role of the store owner includes: Managing all daily operations of the business Train and higher the appropriate staff needed to help excel the business Be present and at the store as often as possible through the week Set a good example by being an active leader and promoting productivity Managing all financial aspects of the business such as: taxes and stock ordering. Manage advertisements and promotional ways to get the business name to the public Store manager- The store managersà ¢Ã¢â€š ¬Ã¢â€ž ¢ role is to: Provide supervision in the store when the owner is not available Assist all customers that confront him as well as attending to all un aided customers Ensure the store remains in its most prestige condition throughout the day Attend to phone calls when available and not attended Be present at least 35-38 hours per week Attend to duties of owner if asked to or if the owner is not present Set an example for all employees and represent the company professionally Assist in reperation of computers that need fixing Full time employee (/ at home service): Stock shelves Serve and attended to customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ needs In charge of reparation of computers that need fixing Clean and tune the store to make it presentable Work 38 hours a week or as required Provide at home assistance for easy to solve computer problems when needed Part time employee: Part time employees will be obliged to do the same tasks and are entitled to the same benefits as full time employees but on a Pro-rata basis Works an average of less than 38 hours a week but more than 23 Inventory of equipment Cash register and receipt printer Credit card and paypass machine Check out counter Display monitors (x3) Telephones (x2) Display cabinet (x2) Barcode scanner Tool kit(x2) Repair table Shelving (2x wall and 2x isle shelves) Floor Layout Marketing plans A marketing plan is used to elucidate the primary marketing elements of a business and setting a foundation while also providing direction on the objectives, goals and activities for the business to collectively work towards. Products Geared up provides a range of products and services. The products supplied by Geared up include: Premade computers, laptops, computer components, peripheral devices, USBà ¢Ã¢â€š ¬Ã¢â€ž ¢s and monitors. Services that are provided are: In shop computer repairs and at home computer repairs. Product Price Premade computers Home and office computers $700-$1,399 Gaming computers $999- $2,999 All rounded computers $850-$1,499 Laptops Acer $649-$908 Asus $699-$1,874 Toshiba $469-$1,129 Samsung $599-$1,088 Computer components CPU/ Processors- AMD $79-$245 CPU/ Processors- Intel $89.95-$450 DDR3 Ram $35-$269 Graphics card- Gigabyte $75-$549 Product Price Graphics card- Asus $45-$999 Peripheral devices (computing accessories) Keyboards $39-$179 Mouse $9.99-$125 Speakers $49-$239 USBà ¢Ã¢â€š ¬Ã¢â€ž ¢s $8.00-$34.99 External hard drive $69.00-$229 Monitors- Acer $99-$299 Monitor- Samsung $120-$389 Computer cases Corsair Tower $79-$184.99 Gigabyte tower $80-$189.99 Corsair cases $89-$199.95 Services provided In store repairs $25+ cost of added components At home assistance 35+ cost of needed material Software Microsoft office home edition-2013 $249.95 Norton antivirus-2014 $59.99 Adobe Photoshop $99.99 Promotion Promotion is fundamental for a newly established business as it provides a way to allow the business to reach out to potential customers through the use media, techniques and strategies to attain peopleà ¢Ã¢â€š ¬Ã¢â€ž ¢s attention. Promotion can be widely divided into two categories: Internal External Internal promotion Internal promotion is useful for establishing a customer base by allowing them to gain something for the more they spend in store. Geared up will be implementing a rewards card system named à ¢Ã¢â€š ¬Ã…“Geared UP Rewardsà ¢Ã¢â€š ¬Ã‚ . This reward system will allow customers to gain points that represent in-store credit as well as receiving discounts on selective items. Another form of internal promotion that will be used is the placing of posters in and around the store raising awareness for specials and deals. This will be used to à ¢Ã¢â€š ¬Ã‹Å"lureà ¢Ã¢â€š ¬Ã¢â€ž ¢ customers into the store and forcing them to walk past many objects to reach the item advertised as on sale. External promotion External promotion is practical for raising awareness of a store for people that do not regularly come to the store location. Geared Up will utilise many types of external promotion during the establishment phase of the business. This includes Newspaper advertisements (see appendix 3), handing out flyers (see appendix 4) and business cards (see appendix 5). Place Where will you locate your enterprise and why? Geared Up will be located in Little Saigon Plaza (462 Chapel Road, Bankstown NSW 2200). Primary reasons for this location include: Due to a recent survey conducted people in the area want more variety/choice of this particular product and service Bankstown not being as technologically advanced means that people have a higher tendency to be unaware of any technological defect or product, Geared up will provide 100% assistance. Increase of population in the area Little competition ( none within walking distance) Easily accessible with transportation services How will your goods or services be delivered to customers? All goods will be available in store, however, in the near future home delivery will be implemented to supply goods for customers with the addition of a call out fee. What is your proximity to suppliers? There is no computer manufacturing outlet in the area and for this reason products must be delivered to the shop in exchange of a transportation fee. Stock in high demand will be bought in bulk in attempt to minimise avoidable costs. SWOT Analysis. Strengths (internal, positive factors) Strengths describe the positive attributes, tangible and intangible, of your organization. These are generally within your control. High demand, little supply Increase of population in area Skilled and motivated workforce Provide high quality products High level of communication Have a cohesive business plan Weaknesses (internal, negative factors) Weaknesses are aspects of your business that detract from the value you offer or place you at a competitive disadvantage. No established reputation Must invest in advertisement Not many employees with correct expertise Very fast paced type of business No close supplier increasing costs for transportation Opportunities (external, positive factors) Opportunities are external attractive factors that represent reasons for your business to exist and prosper. Expand business- franchise Expanding market To gain a loyal company base Trends in market suggest success Threats (external, negative factors) Threats are external factors beyond your control that could put your business at risk. Competition from an established business- JW computers, Dick Smith High cost of transportation could lead to loss A possible downturn in economy meaning people spend less Ever-changing technology means we must constantly upgrade stock Finance plan Budgeted revenue statement Geared UP Statement of financial performance- for the year ended 30 august 2015 $ $ Sales revenue 400,000 Sales Less Costs of Goods Sold Opening Stock Purchases Closing stock 87,700 38,500 126,200 47,200 79,000 Gross profit 321,000 Expenses Total expenses Advertising and marketing Legal fees Wages Insurance Telephone cost Rent On-going stock purchases Computer Motor vehicle purchase Motor vehicle running cost 1,000 500 100,000 1,500 3,900 43,200 32,000 3,000 16,000 3,120 321,000 Net Profit 0 Budgeted balance sheet Geared UP Balance sheet for year ending 30th august 2015 Current assets $ Current Liabilities $ Stock Accounts Receivable Prepaied Expenses 87,500 521,500 17,000 Accounts Payable Overdraft Wages 80,000 32,500 65,000 Total Current Assets 626,200 Total current liabilities 177,500 Non Current Assets Noncurrent liabilities Land Vehicles Furniture 10,000 16,000 6,500 Mortgage Owners equity Capital Retained profits 300,000 145,000 36,000 Total Non-current assets 28,500 Total Noncurrent liabilities 481,000 Total assets 658,500 Total liabilities 658,500

Should We Increase Minimum Wage - 1508 Words

The topic on whether the minimum wage should be increased our untouched has been a hot topic in the media and political scene lately. Both the republicans and democrats have spent some big bucks lobbying their insights on the matter. There has been a lot of subjective and objective arguments that are reasonable on both the pros and cons of increasing our national minimum wage. To add to the drama associated with this topic, President Obama endorsed a bill proposing a nearly 40% rise from $7.25 to $10.10 per hour. The President has been campaigning around the country ever since his State of the Union address, pushing congress to raise the minimum wage to $10.10 an hour. Many say this is too high due to the costs of enacting such an increase, and many say this is a little low due to the increased cost of living. After looking into both sides of this debate, I realize that overall it would be better for the well-being of our nation to increase the minimum wage due to the short term and long term costs that an increase of the minimum wage could lead to. In terms of helping out the lower class and poor citizens of the United States, increasing the minimum wage level is not the answer. Many argue that raising the minimum wage makes hiring workers more expensive, eliminates jobs at the bottom, slows growth and ultimately raises unemployment. Economic studies show that raising the minimum wage to keep pace with inflation creates little additional harm, but what the president isShow MoreRelatedEssay We Should NOT Increase the Minimum Wage1754 Words   |  8 Pagesthemselves. How do we make a living? Through working,but is that work enjoyable for us? Many of us have thought about what our purpose is in working. Should it be mainly focused on providing the basic necessities for our families? 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Personal Narrative My Future Career - 1131 Words

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Life in the Tundra The Coldest Biome on Earth

The tundra biome is the coldest and one of the largest ecosystems on Earth. It covers about one-fifth of the land on the planet, primarily in the Arctic circle but also in Antarctica as well as a few mountainous regions. To apprehend the conditions of a tundra, you need only look at the origins of its name. The word tundra comes from the Finnish word  tunturia, which means treeless plain. The extremely cold temperatures of the tundra, combined with the lack of precipitation makes for a rather barren landscape. But there are a number of plants and animals that still call this unforgiving ecosystem their home. There are three types of tundra biomes: Arctic tundra, Antarctic tundra, and Alpine tundra. Heres a closer look at each of these ecosystems and the plants and animals that live there. Arctic Tundra The Arctic tundra is found in the far north of the Northern Hemisphere. It circles the North Pole and extends as far south as the northern taiga belt (the beginning of the coniferous forests.) This area is known for its cold and dry conditions.   The average winter  temperature in the Arctic is -34 ° C (-30 ° F), while the average summer temperature is 3-12 ° C (37-54 ° F.) During the summer, the temperatures get just high enough to sustain some plant growth. The growing season usually lasts around 50-60 days. But the annual precipitation of 6-10 inches limits that growth to only the hardiest of plants. The Arctic tundra is characterized by its layer of permafrost or permanently frozen subsoil that contains mostly gravel and nutrient-poor soil. This prevents plants with deep root systems from taking hold. But in the upper layers of soil, around 1,700 types of plants find a way to flourish. The Arctic tundra contains a number of low shrubs and sedges as well as reindeer mosses, liverworts, grasses, lichens, and around 400 types of flowers. There are also a number of animals that call the Arctic tundra home. These include arctic foxes,  lemmings, voles, wolves, caribou, arctic hares, polar bears, squirrels, loons, ravens, salmon, trout, and cod. These animals are adapted to live in the cold, harsh conditions of the tundra, but most hibernate or migrate to survive the brutal Arctic tundra winters. Few if any reptiles and amphibians live in the tundra due to the extremely cold conditions. Antarctic Tundra The Antarctic tundra is often lumped together with the Arctic tundra as conditions are similar. But, as its name suggests, the Antarctic tundra is located in the Southern Hemisphere around the South Pole  and on several Antarctic and subantarctic islands, including South Georgia and the South Sandwich Islands.   Like the Arctic tundra, the Antarctic tundra is home to a number of lichens, grasses, liverworts, and mosses. But unlike the Arctic tundra, the Antarctic tundra does not have a thriving population of animal species. This is mostly due to the physical isolation of the area. Animals that do make their home in the Antarctic tundra include seals, penguins, rabbits, and albatross.   Alpine Tundra The primary difference between Alpine tundra and the Arctic and Antarctic tundra biomes is its lack of permafrost. Alpine tundra is still a treeless plain, but without the permafrost, this biome has better draining soils that support a wider variety of plant life.   Alpine tundra ecosystems are located on various mountain regions throughout the world at elevations above the tree line. While still very cold, the growing season of the Alpine tundra is around 180 days. Plants that thrive in these conditions include dwarf shrubs, grasses, small-leafed shrubs, and heaths.   Animals that live in the Alpine tundra include  pikas, marmots, mountain goats, sheep, elk, and grouse.

Essay Urban Planning - 1050 Words

In the twentieth century, the world witnessed significant changes and an increase in the citys population. Today more than half of global inhabitants live in cities or towns (Clarke, 1980), and most of the modern cities around the world have similar economic structure and social interests (Sassen, 2001). The observer to these cities will notice the common characteristics are much more than differences (Clark, 1996). Many recent studies recognize this phenomenon. One of the important studies that examines and analyses this phenomenon was carried out by Clark (1996). In his book Urban World / Global City, he presents an analytical comprehensive overview of the world as global city. He attributes this phenomenon to economic†¦show more content†¦As a result, many Europeans and North Americans moved to these cities carrying with them their trade knowledge, experience, innovations and technologies, but also their western values and ideas. Career opportunities provided by these companies and city life style lured people in rural areas to move to the city (Clark, 1996). The population growth and the new economic and industrial changes in these cities entails a momentous alteration to the existing built environment to acquire the next stage demands. In addition, there is a need for deregulation and the formation of regimes that facilitate the free circulation of capital, goods, informati on and services (Sassen, 1996). It is not surprising that the characteristics of these modifications are similar to the citys characteristics where these innovation and technologies originated and developed (Clarck, 1996). However, the new changes caused distraction in the traditional city structure, new western quarters take place along the traditional communities and social problems emerged (Isswai, 2001). Furthermore, the findings of Costa and Nobel study (1986) are consistent with Isawa findings. 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This number was an increase of nearly three million people over a period of approximately 30 years, there were many problems associated with such explosive growth, problems which were most recognizable during Charles Dickens lifetime. The migration from rural settings to an urban setting was common throughout the countryRead MoreThe City Beautiful Movement : The Urban Planning Practices And Concepts Employed Today And The Foreseeable Future1322 Words   |  6 PagesQuestion 1: In the first half of the 20th century urban planning was greatly influenced by the visionary and utopian ideas coming out of the City Beautiful movement. The City Beautiful movement played a major role in forming the backbone of city planning practices and concepts employed today and the foreseeable future. The term â€Å"City Beautiful† was first coined by artists in New York, referring to the urban environment they were surrounded with. One of the first ones to use the term was an artist

Behavioural Finance.. Free Essays

A study on Behavioural Finance Problem Statement: To understand how and to what extent markets and investor decisions have been influenced by market moving emotions. Objectives: The main objectives of this research are 1. To understand the roots and origins of behavioural finance. We will write a custom essay sample on Behavioural Finance.. or any similar topic only for you Order Now 2. To understand the basic investor psychology, components and aspects of the same. 3. To understand the components, heuristics and anomalies involved in behavioural finance. . To determine according to gender and age group, what are the various choices of investments, priority given to characteristics of investment alternatives and decisions made on the basis of risk and strong market movements.Null Hypothesis: The market moving emotions have no influence on the behaviour of investors. Alternative Hypothesis: The market moving emotions have an influence on the behaviour of investors. Benefits of the Research: . It will help to understand the roots and origins of behavioural finance. 2. It will help to understand the basic investor psychology, components and aspects of the same. 3. It will help to determine according to gender and age group, what are the various choices of investments, priority given to characteristics of investment alternatives and decisions made on the basis of risk and strong market movements. Research Methodology:A sample of 50 people will be taken of different age, income groups and data will be analysed. Sources of Data: The primary research will include Questionnaires, personal interviews which will contain closed ended questions. For the secondary Research data will be collected from different websites, e-journals, journals, books and other articles which have been published. The secondary data will be compared with the primary to prove the hypothesis. How to cite Behavioural Finance.., Papers

Media in America free essay sample

Each of these media companies has a variety of media holdings but may concentrate on one kind (books, movies, television, print) over another. Compare and contrast their holdings. Does any company seem to have cornered the market in a given area? Time Warner: Television and Movies Disney: Movies, television, books Viacom: Television and Movies Fox NewsCorp: television, books, print, and movies The similarities of all these companies are that they all provide entertainment media to America.They are the primary source of entertainment today. They all own the majority of the most watched channels; Time Warner has holdings with Warner Brothers and HBO. Disney is its very own brand from television shows to big screen movies. Viacom has holdings with the major music television channels like BET and MTV and their affiliates. They also have holdings with Paramount Pictures. Now Fox NewsCorp has holdings in sports, film, and even print. Fox is responsible for the media outlets like, STAR, FoxSports, and the New York Post. We will write a custom essay sample on Media in America or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The major differences between these four companies are the market they are aiming to attract. Time Warner and Viacom are looking more to attract the younger generation; those ages 16 to 29. Disney primary target market is children from 3 to 12. Disney movies and shows are more geared toward this age group more than any other. For Fox NewsCorp, they have a different demographic they want to tap into, all of them. They have anything for every age and can appeal to a vast majority of the U. S. I think that Fox NewsCorp has cornered the market better than any of the other media companies.I say this because they have covered every aspect of media and they target every age group. Fox NewsCorp has something for everyone. They have 20th century Fox Film holdings that produce every type of movie imaginable. Fox has FoxSports that attract the male viewers. They have the news channel that catches the attention of the adult target market and the FX Network is geared toward the young adult generation. Their print holdings are widely read, New York Post and The Wall Street Journal. 2. These companies have penetrated almost every media market in one form or another.Would you consider their vast ownership a media monopoly? Why or why not? In the economic sense, a monopoly is where one enterprise or individual has control of the market. There is a lack of competition and viable substitute goods. I would not say that these companies are in a media monopoly because now-a-days there are so many other options on television. For instance, if a child does not like the Disney television shows or movies they can tune into Nickelodeon or Cartoon Network. If one does not like Fox they can easily tune into ABC or Espn.We have to remember that because the digital age has become so advance, there are so many different options for everything that not one company can monopolize the media industry. 3. From the companies standpoints, what is the positive aspect of being so diversified? The positive aspect of being diversified is that these companies are attracting more than one type of target market. They have the advantage of being the go to place for certain things for more than person in a household. Also I am starting see more cultural diversification from these companies.There are now more Spanish and other language programs for the largely growing Hispanic community. 4. How does media monopoly impact the quality of the news or entertainment that readers, listeners and viewers get, and the variety of voices and opinions? I think the media monopoly impacts the quality of content positively. Media companies want their viewer numbers to increase as much as possible and in order to do that, they must put out good quality content or viewers will watch something else.So by wanting all of the viewers and readers tuning into their holdings, media companies have to put out the best quality of content. 5. How many of these companies own book companies? Two: Disney and Fox NewsCorp To answer the question who owns the media, I think the consumers own the media. I know that the media does have a great influence on our lives but these companies only put out what WE want to see, what WE enjoy because if they did not they would not get our support.