The Boos Firm Business Plan
A comprehensive study of the target to determine size of businesses, needs and revenue of the market. An analysis of competitors in Rogue Valli, as well as isolated intimidations abroad and domestic. Legal considerations contain taxation, licensing, and where the company will be based in Medford, Oregon. Labor is limited to management, accounting services and consultation rendered as necessary. A comprehensive list of start-up costs that provides some explanations for each object. Majority of the US markets as well as international markets are made up of small and medium sized business and therefore choosing to work with such businesses guarantees the Boos firm a ready market to exploit and grow further. The company will be operated and managed by a team of professionals who are well trained and experienced.
This will enable the company to have a competitive advantage because the team of professionals will be able to offer quality services to businesses thus making it possible to eliminate competitors in the market. Through helping its clients to develop the accountability and the motivation required to succeed in their business as well as personal lives, the firm will be able to enter into mutually beneficial long term relationships. This will ensure that the company receives more new clients through referral cases. Since the demand for consulting services is very high in the American markets, the Boos firm will be more advantaged in the sense that it will be operating in an already established industry. In order to survive in the market well, the firm will obtain all the necessary entry requirements including having the right legal documents showing that it operates within the law.
The firm will also set targets in order to ensure that the management team is committed towards achieving them therefore enabling the company to grow as time goes by (Allen, 1988). The company will have a set target of dominating 30% of the market share and this will be achieved through ensuring that the customers are given the best services since by doing so, the company will be able to win the customer’s trust. In addition, the firm will ensure that it operates at the low cost possible in order to be able to outdo the competitors. Competition The primary source of competition for the business will be freelance consultation firm competition from domestic and international consultant. In addition, there are also other big consultation firms in the market which have been in existence for several years and therefore thy pose a great threat to the existence and survival of the company.
However, due to the fact that the market has not been fully exploited, the company has a high potential of survival especially through dealing with small and medium size business whose needs have not been met by the already existing consultation firms in the market (Chwolka & Raith 2012). The competitors in the forefront of the market place are offering the same services as the Boos firm. The business will be able to out compete these firms basically through ensuring that it offers services which are above the expectations of the consumer. Labor Labor is limited to management, accounting services and consultation rendered as necessary. Me and my wife will lead the business. Due to the nature of the services offered, this labor may not be enough and therefore this will make it necessary to acquire more labor as the company grows.
All the staff members of the company will be thoroughly trained in order to familiarize them with the work and give them all the necessary skills in order to ensure that they deliver the best services compared to the competitors (Franchak, et al 1984). As the owner of the business I will do all the necessary training within the business premises and in some cases, I will allow the employees to attend seminars in order to acquire more skills which will make the company more competitive in the market. This in return will also create a demand for my accounting and management services as the businesses started grow. BOOS FIRM START UP COSTS COSTS ITEM PRICE PRICE IN ONE YEAR SOURCE OF PRICE Equipment $6,500 $6,500 Craigslist Furniture $1,200 $2,400 Craigslist Insurance $100 $1,200 Nextag Launch Advertising $2,500 $5,000 Shopping.
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