Spec Save Optical business plan
0 Marketing 10 Pricing Strategy 10 Marketing Strategy 11 Marketing Objectives 12 4. 0 Operations 13 Resource Management 13 Location 13 Initial Capital Expenditures 13 Legal 13 5. 0 Finance 15 Start-Up Costs/Financing 15 Sales Forecast 16 6. 0 Milestones 17 Executive Summary Spec Save Company sells optical products such as eyewear and also offer services such as medical consultancy and repair of eyewear. The business is owned by an individual who is also the manager of the organization. Our glasses are of high quality and also consist of materials such as titanium metal and cellulose acetate. Clients’ purchase our products because of many reasons one because they are very cheap and we sell at affordable prices. Our products are also of very high quality and unique. We also focus on the visual performance of our products which we consider very important.
Moreover, we also have the best fitters in the city who are highly experienced and contribute significantly to business success. Vision and Mission Company vision: To be the best optical provider in Ontario. Company mission: Providing our clients with high quality products at lower cost and improving their optical health. Management Spec Save is managed by two managers including the owner of the bunnies and the assistant manager. The personnel have vast experience in optical healthcare and have passed through training and education requirements regarding the same. They are also good at business administration since they are trained on that. It also have a good traffic and good population which forms a potential market for our products and services. There are many other businesses situated around Spec Save such as retail shops, Spas, and also Fast Food business.
There are also clinics and medical centers around Spec Save Company. Goals & Objectives Spec Save Organization is one evolutional company which aims higher and has many objectives that we need to work on over a period of time. Some of our important company goals include the following: • To have at least 300 regular clients in the next two years. We look forward to evolving in the Ontario Market and establish more than five outlets and more than 20 in Canada in the next 15 years. The increment in the industry affects my business since the competition levels are increasing with the mass entry of companies in the market. Moreover, the rise in competition motivates us to be more competence and competitive. It is a fair competition though.
Local Market Initially we will serve the Windsor Ontario market and our clients would exist around. 0 Marketing Pricing Strategy We will charge less amounts for our products and services since our aim is to save the money of our clients. The average cost of the products is $225 but our company sells the products at 70% discount which makes it an average of $67. Selling our products cheaply will help us attract more customers who want to save their money and get the same best quality of the products and services. Some of our prices are as below; Full eye spectacles- $75 Lenses- $30 Frames- $50 Eye Checkup- $20 Marketing Strategy We have come up with a marketing strategy for our organization which we expect to work for our products and services and increase our sales.
Some of our best marketing strategies include; • Marketing our products through social media. The cuts moreover will depend on how many clients they will refer to us. We will follow up on n our customers through email by sending them the links to our company referrals if they haven’t referred anyone yet. We will do this from the first day of business and will do it daily. • We will also use posters and fliers to advertise our products. The poster will be posted on all the board in Windsor, Ontario where the public can have a look and trace our location. This will be done once a month in different days when the offers will be available. It could be all Fridays of every weak.
Marketing Objectives 1. To increase sales of our products by 40% each month. To establish our company firmly in the market and have a large client base. Legal The business will be registered with the relevant authorities of Ontario and business operation license acquired. We will also acquire market licenses and other documents for the validity of our business. Human Resources The organization’s employees will be hired from a strong talent pool and will be evaluated accordingly. In addition, degree holders in related subjects or areas of education will be an advantage thereafter going for training on eye healthcare. Some posts will need specialized people who have vast knowledge and background of optics. Our production machines might stop working thus causing a pause in the business.
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