Diesel Business Plan

[BUSINESS PLAN ASSIGNMENT]| | Creating your own brand jeans We are going to introduce a business where we with the help of recognized jeans brands all over the world will give ordinary people a chance of creating their own pair of jeans, but still maintaining the quality and the status that the specific brand maintain for their customers. We will basically be a jeans selling store but with a niche that we introduce our customers to “custom made” jeans instead of the regular ones. We will use the existing bran with its cut, bootleg and design but we will give our customers the opportunity to choose some of the details themselves.

For people who for example want to have a wear on jeans which don’t have any wear from the original reseller we offer the possibility that at an expert level giving a pair of jeans the wear that the customer wants. Also we will be able to give the jeans another wash if the customer is interested in a light tone of the fabric but there isn’t any available from the Label/Brand/maker. If someone wants to have any other color or size on the main buttons we are able to provide that, if one wants any other kind of back pockets we are also able to provide that.

Someone might want some additional motives or fabrics on their jeans. We will always try to be as flexible as possible and serve our clients in any way that we best can. Why work with Diesel We have chosen to work with the brand Diesel, because of many factors. We will work with an established brand that has a solid customer base here in Sweden. Regarding to the survey done by ISI Wissing, Diesel is the number 3 popular jeans brand in Sweden, also it qualifies for the 3rd place when it comes to customer satisfaction.

When it comes to using the brand, regarding this survey, it ends on 4th place. And that for us shows that there are opportunities to take this even further. Also there is a mentality among younger people that they are attractive to the Diesel brand. One of the reasons why, are their outstanding and peculiar commercials. They try to show the brand as very attractive and cool and also with all their different products they want to make a valid point that Diesel is something else then all the other brands. It’s more attractive and aggressive and it’s there for the people who know what they want.

One of their later commercial campaign are the “Be Stupid” commercial where they address their clothes and products to specific people that want to be something else. An example of their commercial is the following quotes: “Smart may have the brains, but stupid has the balls. ”, “Stupid might fail. Smart doesn’t even try. ”, “Smart may have the answers, but stupid has all the interesting questions”, “Smart has the plans, stupid has the stories”. So these are examples that they really try to have their own approach and make something amusing and attractive to their customer base.

And we think this is one of the things that make Diesel stand out and be an attractive and popular brand to work with. (Willebrand, P, 2007), (Habitat. se, 2009) This type of product we offer is focused on a relatively young, between 18 and 35 years as a textile style, young, dynamic, unique and with character. Our target is to focus sales in a single product with its own identity, a trend and a reference in the textile market, developing products for a demanding consumer sector, where each product can be distinguished from the rest.

This product is so expensive, it’s focused on one type of consumer with a high economic level, but that is why our service is striking, since it is an affordable way to get what the customer as to the characteristics mentioned, looking at the market. We don’t think that the segment with low paying jobs will be that particular interested in our business because we think it will be too much money for them to spend on clothes. So our business is rather directed to people who are at the average salary and more.

Preferably we find this customer base in larger urban cities where there are enough to offer for people being interested in specific branding clothes. What we can see a connection to might be an independent employee or an entrepreneur that already are going their own path and following their own lifestyle, not bounded to any specific rules or dress code at their jobs. We also think that people with a specific identity can benefit from this of business venture, if you work at some place where you have a dress code that is suits or jackets for example, you are not able to wear your average blue jeans, but you still might be a jeans guy.

We then offer the possibility to change the color on your jeans to make them look as much as suit pants as possible and so they not stand out and look really different and inappropriate from what expected. An attractive base product Our service is not unique since there are companies like Indicustom and Somconceptshop that gives the costumer the chance to customize their own jeans. But our service offers the customer a new feature in the market of customizing jeans. We want to use an “attractive” base product and let the customer personalize it.

We looked at the other companies that were operating in the same market as us. We understood that we needed to concentrate on points of difference the benefits that set our product apart from the competition. Such points of differentiation are, in many cases, what consumers remember about a product. No one of the existing companies that we studied used brand/labeled jeans as the product that you could personalize. So we thought that if we use a well-known brand like Diesel as a base product that the customers could customize the way they personally want them to look but still have the quality that Diesel provides.

It would unquestioningly set our product apart from the competition. About Diesel Diesel is an international brand, present on the clothing industry market in over 80 countries with 5500 points of sale, throughout all 5 continents. In terms of projected-in the population interested in buying clothes and brand accessories is more and more important that’s why the companies of the clothing industry have to offer varied products to boost their sells and their fame. The brand sells almost 3000 products from the basic pair of jeans, to the bags, belts and the house furniture.

Diesel also owns 200 companies and having partnership with 100 local distributors, such as L’Oreal, Ford or Adidas. The main goal is to be everywhere geographically, in different strategic areas, expanding, in that way, their international presence. Concerning the sales and profits, the company realized a revenue of 1,2 billions€ en 2008, 80 millions in France. But even with these good results the revenue global of the group doesn’t really know a huge growth and on the contrary decrease of 3. 5% in 2009, whereas there was a rise of 3% in 2008.

Then, even if the company has a healthy financial position as its campaigns, its results and its growth shows there is no extra revenue since 5 years. That’s why we decided to create this personalize service. (Pavarini, M, 2010) Tailored e-commerce in Sweden Tailored e-commerce is on the rise if you ask the CEO of Tailor store. He expects an annual growth of 30 percent because the distance trade is on the rise and growing faster than the regular store trade. Tailor Store had a sales report of 40 million last year and reported a profit of 5 million after net financial items.

He thinks the reason of the success is because consumers have benefited greatly by including the ability to investigate and compare the products of a larger range of products and services that can be purchased at any time and from anywhere and a greater opportunity to get more customized products to satisfy personal needs. And e-commerce is getting popular in the whole of Sweden; 28 billion in turnover was from distance trade, e-commerce and mail order, in 2010. If you look at the numbers you can see that it has been a doubling in sales in the last five years and today it represents 4. percent of the total retail sales. (Melkersson, E, 2011) Competitors When we look at the biggest competitors it’s hard to say who will be the biggest competitor for our business. Obviously every brand will be a competitor since we will only work with Diesel, also other stores who sell Jeans will also be a competitor to us and in Sweden especially Brothers & Sisters, JC and H&M are big competitors. Also companies who sell other brand that are big will be a competitor for us, such as resellers for Lee who is number one in Sweden and Levis which is number two.

But if we focus specifically on our distinction from the other resellers, the custom made part, we think that companies like Tailor Store will be a big competitor for us. A company that already made themselves a name on the market of custom made clothes, even though they are not only limited to specific brands. If we look in to the sector with custom made clothes a lot of them are not resellers and dealing with bigger worldwide brands. It’s often some smaller brand which they import and give people the opportunity to make changes to.

Here is where we have a problem identifying any specific company that are selling luxury brand jeans, designer jeans, with the opportunity for the customer to have the jeans custom made after their wishes. If we look at the jeans market here in Sweden it has suffered from a little fallback. About 15 million pair of jeans is sold in Sweden every year. And the competition from companies like H&M, Kappahl and Lindex are getting bigger at the cost of specialized jeans resellers revenue. (Willebrand, P, 2007), (Habitat. se, 2009) External Factors Affecting A Business

There are a couple of external factors we are looking into when it comes to how they can affect our business: 1. GENERAL ECONOMIC AND INDUSTRY CONDITIONS Any general economic, business or industry conditions that cause customers or potential customers to reduce or delay their investments in the jeans industry could have a negative effect on the company’s strength and profitability. Currently, the world economic conditions had a bad and considerable impact on every commercial fields of the society, and the jean’s industry couldn’t escape from that either.

Trying to launch this custom made project can be profitable for us, of course, but with that we will also try to help in a way the Diesel company. 2. COMPETITION The jeans industry is highly competitive. The intense competition inherent in the industry could result in the loss of customers or pricing pressures. 3. LOCAL ACTIVITIES The company’s future growth rates and success are in-part dependent on continued growth and success in local market at first, as we’ll try to open the custom made project worldwide after studying the results in Sweden. (Essays. cc, u. d. ).

The Swedish economy emerged from the financial crisis as one of the strongest in Europe. A high-tech local economy and a comprehensive system of welfare benefits allow Sweden to enjoy one of the highest standards of living in the world. Sweden has one of the most globalized and competitive economies today. GDP is expected to increase by 4% in 2010 and by 3. 7% in 2011. The welfare has been able to be maintained because of the high tax levels, even if they recently have begun to decrease. Also, concerning government regulations, Sweden’s economic freedom score is 71. ; it appears that the overall regulatory and legal environment, transparent and efficient, encourages robust entrepreneurial activity. (Traveldocs. com, u. d. ). 4. SOCIAL FACTORS The profit margins realized by the company vary somewhat among its products and its customer business units. Like we said before this custom made opportunity that we are going to submit to Diesel is a product to a narrow customers base (18-35 years), and they maybe don’t have the possibility to pay this kind of services. That’s why we are trying to make an arrangement with a company like Diesel who stay affordable. . TECHNOLOGICAL CHANGES AND PRODUCT TRANSITIONS The jeans industry is characterized by continuing improvements in fashion and design which result in frequent introduction of new products, short product life cycles and continual improvement in product price/design characteristics. 6. INVENTORY MANAGEMENT/SUPPLIES The company’s ability to manage its inventory has been enhanced by favorable supply conditions in the industry. The company’s manufacturing process requires a high volume of quality components that are procured from third party suppliers.

The six external factors highlighted in this paper are identified as primary factors in this industry (Essays. cc, u. d. ) Enterprise resource planning and organization First of all we have to have our wholesale to buy the jeans from, we obviously by our jeans from a supplier since it’s a specific brand that we will be using. We need a workstation where we do our tweaks on the jeans, since we will do the tailoring in-house and not outsourced. Meaning we will have a department changing buttons, sawing on new pockets on the back of the jeans, wearing them and washing them.

We will buy the raw jeans models from Diesel and all the tailoring we do will be done in-house. This way we get a overview over the whole process and we will be able to overlook it and see what works and what does not to be able to make changes and develop our working process and expand. In long term we possibly would like our tailoring to be outsourced as well but then we have to get a lot of bigger volumes and sales. Our company needs to be of a local medium proportion, after asking prices we have chosen an office in the center of Linkoping, over 90m2 warehouse 100m2.

The rental price € 1000 per month. Costs of production / initiation of the company: Machines and Computer products| Manufacturer| Units| Euros| Sewing Machine| | 2| 1000| Washing machine| | 1| 1000| Mac Pro| Apple| 1| 1200| Jet color laser multifunctional printer | Hp| 2| 750| Textil Studio 8| Macromedia| 1| 480| Quark Xpress 6. 1 Passport Diseno| Quark| 1| 2. 200| Norton Internet Security 2007 Antivirus | Symantec| 1| 60| | Total| 6. 990| Furniture Product| manufacturer| Units| Euros| Computer table ERISTER| IKEA| 4| 520| Chair STEFANO| IKEA| 4| 320| shelf FJUS| IKEA| 4| 400|

Chairs| IKEA| 4| 80| filings| IKEA| 4| 180| Ceiling fluorescent bars| IKEA| 6| 180| | Total| 1. 680| Total computer equipment and furniture company| Computer equipment| 6. 990| Furniture company| 1. 680| | Total| 8. 670| Telephone rental and adsl| Local callsADSL Internet 10MG | 40Per month| Production process of our company First Phase In the first instance, we take care of developing the product design, according to the specifications and style that the customer provided to us. We need the measurements of the client to make the program design Textile Studio 8.

Second Phase Then perform the design by computer program, the design is sent to our textile machinery in the warehouse where the design is recreated in the pants, is embroidered, sewn and glued, additional accessories or tweaks that you must do the product. Third Phase. In third phase, the products pass an exhaustive examination of tissue and finishes, in order to verify that the product is done with the selected design and has no damage. Distribution Our field is nationwide, with an eye to expanding our international infrastructure over the medium term.

As our company turnover grow fence on the market performance will be broader. The distribution is provided by our company is an outsourced process by which we have a freight agreement with the company MRW light which provides an optimum distribution at a reasonable price, short and medium term by increasing our relationships grow if our trade with other countries. The cost of distribution affects the final price, so that the customer pays, revenue is recorded in the product itself. Marketing (advertising)

In the field of marketing, the company will open a website with a catalog of examples, price list, contact, and an application through which you can perform orders. We have thought hiring advertising space in newspapers to national newspapers, the expenses are high, we will follow up weekly to see the number of people responding to advertising, if it is positive we will find these services. Also we will do advertising in social networks, starting a group of our company, our website advertising, adding to people that this profile for potential buyers to our profile social. So as included in online media websites such as www. undoanuncio. com. Regarding marketing we will also try to use SEO(Search engine optimization) as much as possible to get more hits when our possible customer base browse the web and search for companies that does custom made clothes. Implementation Plan We need to contact Diesel / a Wholesale to be able to secure our purchases of the Jeans. We need to establish a workplace where we change the Jeans into the customer’s wishes. Since our main sales channel will be via the internet we need to establish a homepage with the possibility to tailor your jeans and also a web store on the homepage so our customers can buy the jeans they want.

We have to get some it-system that will be able to trace our orders and the specific changes the customer wants so we can make them and then ship them out to our customer. Activity| COMPLETED OR UNDERTAKEN in RELEVANT Quarter OF 2011-12| Development| | Finding investor interested in investing in the business. | 2011 – Q1| Attaining the site for thebusiness and making any needed physical developments| 2011Q1- Q2| Proof-of-concept development. Need to develop a prototype for the investors to see. | 2011Q1- Q4| Marketing| |

Choose our target market, the group of customers we want to target| 2011 – Q3| Plan how to reach and address your customers, with specific measures coveringproduct design, pricing, distribution and communication| 2011 Q3 – Q4| Promote the service to potential investors and buyers. | 2011 – Q42012 – Q2| Management| | Recruit personal for the development of the service. | 2011Q1- Q4| Training of personnel| 2011Q1 – Q3| Forming a team| 2011 – Q32012 – Q2| Financial plan First of all our initial cost for our company is the cost for starting it up and register it as a incorporated company and for that cost we calculate 7 000 euro.

Next up is our warehouse and office with its equipment needed. For the first month we need the capital for investing in our equipment that we estimate to 8 700 euro. After that we will have cost for our rent and staff, also for our purchases and a onetime fee to our web developer and a cost for every time we need to update our website. We estimate that the web developers onetime charge would be about 10 000 euro. Our rent will be 1 000 euro with a down payment for 3 months. Also we have a OTC for the officer and warehouse for 500 euro.

That would mean that our total initial cost would be 29 200 € and we count with a big miscalculation so we would say 30 000 € as initial cost. Our monthly cost will be: Rent : 1000 €Telecome: 40 €Salary: 3000€ for 1. 5 fulltime employee Utilities: 500 €Distribution: 500 €Raw Material: 50€/jeans +5-15€depending on what customer choos to add to the jeans Promotion : 2000 €Other expenses: 400 € That would be a total of 7 500 € in monthly expenses but also a additional part depending on how many jeans we manufacture Sales forecast: We think that we can start with selling 75 pair of jeans the first month, meaning 2,5 jeans per day.

And then we count with an increase of 10 % per month. Our price range on the jeans will be 120 – 200 € and we have counted with an average price on 140 € per pair of jeans We count with an increase in sales as soon as our website is up and running and getting some regular visitors and that they spread the word. Also it will take some time for our promotion and marketing to get effective What we would like to offer our investors are 20% of the shares in our company for the price of 15 000 €, the rest we would make up as a loan from the bank with a low mortgage and try to pay only the interest.

Bibliography Melkersson, Erik (01-04-2011). Skraddarsydd e-handel pa frammarsch, www. hd. se. Avaible at: http://hd. se/ekonomi/2011/04/02/skraddarsydd-e-handel-pa/ [13-10-2011] Willebrand, Peter (16-08-2007). Jeansjattarna haller greppet om svenskarna, www. resume. se. Avaible at: http://www. resume. se/nyheter/2007/08/16/jeansjattarna-haller-grepp/index. xml [10-10-2011] Habit. se (17-12-2009). Jeansmarknaden tappar fart, Habit. se. Avaible at: http://www. habit. se/iuware. aspx? pageid=1780&ssoid=112504[12-10-2011] Pavarini, Maria (07-05-2010).

DIESEL NAMES NEW CEO, RESTRUCTURES ONLY THE BRAVE, www. sportswearnet. com. Avaible at: http://www. sportswearnet. com/businessnews/pages/protected/DIESEL-­? NAMES-­? NEW-­? CEO-­? RESTRUCTURES-­? ONLY-­? THE-­? BRAVE_2503. html [12-10-2011] Essays. cc (u. d). External Factors Affecting A Business, www. essays. cc. Avaible at: http://www. essays. cc/free_essays/b2/utv218. shtml [09-10-2011] Traveldocs. com (u. d). The Swedish economy, www. traveldocs. com. Avaible at: http://www. essays. cc/free_essays/b2/utv218. shtm [07-10-2011]

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Clothing business plan

Table of contents

Executive summary

Tired of seeing old things?  Fear no more for Fabulousity is here.  Fabulousity is offering to jazz up old things such as shirts, jeans, purses, shades and shoes.  The company’s primary target markets are female teenagers ages 12 to 17 and its secondary target market are female kids ages 7 to 11.  Fabolousity will be applying the brand identification, specialization, and product quality corporate strategies.  As for its marketing strategy, the company will focus on product development and market skimming.  In order to build brand recognition, sales promotions, advertisements and the company website will all be utilized.

Company overview

Fabolousity aims to be the preferred name and destination that comes into the customers minds when it comes to designing with rhinestones.  The company wants to help people in terms of improving the looks of the existing things they have.  That way, they would not have to buy new things because their old things will start feeling as if it is new.

Fabulousity is a joint venture formed by three companies during September 2007.  The whole concept was thought of by the owner of Unifield who proposed to tie up with Jingles Marketing and Echo for capitalization.  Formally established the following month, the company prides itself on its superior team of designers and its unique marketing strategies.  Currently, the company is underway to open its first store based branch in a mall in Tallahassee.

In order to capture a part of its target market, Fabolousity is relying on its brand identification, specialization, and product quality strategies.  The company will seek to build brand recognition through advertising and its sales force.  In addition, Fabolousity will focus its marketing efforts on the target customer segment, which are the female teens and kids.  The level of the company’s product quality will also serve as a differentiation point.

The company’s objectives are:

  • Maintain a significant sales growth of 10 % each quarter until the end of the year.
  • By the end of the year, the company should achieve a 5% less on operational cost.
  • To create 25% product awareness for the first quarter through events, promotions and advertisements
  • To maintain a continual increase of 3% in promoting product awareness per succeeding quarter.

Products and services

Fabulousity is offering to jazz up things such as apparel, shoes, purses, and shades with rhinestones.  The company accepts orders for both lettering and design rhinestones.  Fabulousity uses a special type of applicator that will stick the rhinestones to the surfaces without making a mess.  Due to the strength of its adhesive, even if the things were soaked in water, the rhinestones would not easily tear off.  Only top quality rhinestones are used by Fabulousity.  These rhinestones cannot be easily found anywhere since they have the special ability of withholding its shine even though the rhinestones were applied for over a year.

Customers will only need to bring their thing of choice and the rest is up to the Fabulousity team.  One can choose from pre-made designs or one can also opt to tell the team what design they want.  The team will then make sure that proper adjustments be made so that every rhinestone design will surely be unique.

Since this service is solely offered by Fabulousity, the market skimming pricing strategy will be used to maximize profits.  Prices will be set high at first but it will slowly be adjusted accordingly to suit market demands.  Every object will have a corresponding price based on the size of the design.

Currently, the product is still in its initial stages.  So far, some pre-made designs were already conceptualized and the opening of the first pilot store at Governor’s Square Tallahassee is already underway.  Further development of the product is expected after four months.  By then, focus will shift towards research and development of both the market and the product.

Industry and market analysis

So far, there are no industry competitors yet for Fabulousity.  However, the threat of new entrants is high because of the low investment needed and also low exit barriers.  The good thing is, threat of substitute products is few, and thus Fabulousity can charge a price premium for its services.

According to data, girls spend more on clothes than boys; hence the company’s chosen primary target markets are female teens with ages 12 to 17.  They are also the ones who are more fashion conscious and who would like to stand out from the crowd.  They have their own allowances which they often spend on clothes.  Also, they value their friends’ opinion very much.  The secondary market is female kids ages 7 to 11.  They love to dress up and also like cute things.  They are deemed the secondary market because they rely on their parent’s decision as to what to buy or not.

Marketing strategy

The main objective is to position Fabulousity as the place where one can jazz up their old things and make it unique through rhinestone application.  The product development strategy will be applied by the company.  Taking into consideration the present primary market’s need which is to stand out and be unique, Fabulousity will make sure its offerings will continue to cater to this.  In addition, the market skimming price policy will be applied. The product is still at its market introduction stage and there are few substitutes for the product.  Hence, by adhering to this policy, profits will be maximized.

Sales promotions, advertisements and the company website will serve as the main tools to create brand awareness.  Promotion techniques such as “Tell a friend and get a free design” will be undergone.  With a minimum purchase, people will be entitled to bring in a friend who will also avail of Fabulousity’s service.  As a prize, the person who brought in a friend will be given a free rhinestone design on any thing of his/her choice.  As for advertisements, the company will place its ads in magazines for female teens and kids.  The company website will also serve as a way to promote Fabulousity.  It will be available 24/7 to provide information about the company and its services.

Development

The following are tasks that need to get Fabulousity’s first mall based branch running by February 2008.

The company will be headed by three executives who are in their early 20s.  Fabolousity will be their first business venture.  Each of the executives graduated with a different course.  One is a graduate of human resources, another of business management, and another of marketing management.  In line with this, each will be handling departments under their specialization – human resources, operations, and marketing respectively.  Because of their previous experiences in their fields of expertise, the three executives are very able to execute strategies.

The organizational structure is a flat one.  This fosters faster communication between the three departments and the structure is as follows:

The chief executive officer will be personally in charge of the operations department and also see to it that the general plan is administered.  Both the heads of human resources and marketing will also report to him.  The heads of each department will be responsible for the executions of plans of their department.  Under the departments will be the sales associates.  All three heads will supervise their performance.

Operations

Fabulousity’s rhinestones are obtained from third parties whose lines of business revolve in rhinestone selling.  A certain number of packs of rhinestones will be delivered to the store every 1st week of the month and when it is time for replenishment, the store personnel will just give the suppliers a call.  A small design usually takes an hour to finish, a medium design takes 2 hours, and a large design takes about 3 hours to finish regardless of the object.

The basic metal rhinestones cost $4.00 per pack of one (144 pieces inside) and the company’s margin is dependent on the thing of choice to be jazzed up but roughly the margin could be estimated at 20-30%.  The rhinestones are glued to the surface through the use of an applicator.  The applicator is very easy to operate and it only takes a short time to be a professional at it.  Aside from the applicator, other tools needed are bent tweezers and hooked snips.   The tweezers are used to pick up the rhinestones while the hooked snips is for taking out mistakes – they grab the stones with their hooked tips.  All the tools are long term investments and are to be replaced only when they break down.

Possible exit strategies

In the event that the venture does not work out, possible exit strategies would be to change to a smaller location, preferably a stall, so as to lessen the rent expense in the mall.  That way, all the materials and tools can still be used.

References

  1. Pirovano, Tom. “Tune Into Teens: Test Your Teen Aptitude.” Retailing Insights AC Nielsen Fall/Winter 2006: 20-27.
  2. Rhinestones Unlimited. 2006. Rhinestones Unlimited. 29 Nov. 2007 <http://www.rhinestonesu.com/hotfix_tools.htm>
  3. Wenner, Dawn. Designs by Dawn. 21 Nov. 2007. Designs by Dawn. 29 Nov. 2007  <http://www.designbydawn.com/>

 

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Business Plan for a Recreational Business

EXECUTIVE SUMMARY Away with the old and in with the new ‘X-Treme Gravity’ recreational park. The business is viewed as exhilarating, enjoyable and flexible. It accommodates almost all ages and different packages are designed to suit the customers’ capacity and beyond that to boost one’s confidence by motivating them to overcome their fears. The first task accomplished was the brainstorming and mind-mapping session. This was done in order to develop an exhilarating and fresh idea for recreational businesses. The factors considered for the business were divided in to two.

There were the external factors that were considered such as economic factors, political factors, the socio-cultural factors and the competitors in the industry. Then, there were the internal factors considered which include: the start-up costs, the returns on investment, the assets and other resources required and the overall financial budget. The business’s main center is located in Karen within Nairobi. These premises offer several extreme and outdoor sports such as paintballing, go karting, dirt bike racing, and zorbing, among others.

The business also extends their services by offering extreme sports packages for certain extreme sports that cannot be done on the premises. Therefore, the packages comprise of mountain climbing, trekking, scuba diving, snorkeling, white water rafting and sky diving to different areas within Kenya. The vision of this business is; to provide excellent customer services, build long-term relationships with the clients, create awareness & increase stipulation for the extreme sports.

Various sources for the research were used, such as: The Internet, newspapers, magazines, journals, public banners, the general public, individual businessmen and successful companies. The task of SWOT analysis was much of a group contribution, whereby the group members contributed information based on their own knowledge and understanding of the business. The financial projections of the business were based on estimated values. The business interviewed companies with similar products such as, ‘Out of bounds’ and ‘Kitengela adventures, to acquire reasonable figures for costs and revenues.

They were mainly interviewed via email and telephone. Our business also did surveys and face-to-face interviews. A market research was carried out to determine market growth, trends and needs. Survey objectives were determined and the questions were prepared based on these objectives. The promotional campaign was addressed and researched through a market survey. Overall, the business was seen as viable and acceptable. MISSION STATEMENT: AIM AND OBJECTIVES OF THE BUSINESS -Short Term goals: From 1 to 12 month of operating: a)Establish the target market and inform the target market of the products existence by 10% in the first year. )Creating a promotional and marketing plan that will fasten the awareness process by 15% in a year. c)Using discount and seasonal pricing to increase the demand of the products and services in the market by 10% in the first year. d) To develop a relationship with our customers in order to create a friendly environment and to keep them loyal to our business. This will maintain and steadily increase revenue by 5% each year. -Middle term goals: From 13 to 60months: a)Design a marketing plan that will keep our customers loyal to the business. Profits will steadily increase by 10% in a year. )Design a plan to increase our customer’s margin; revenue will increase by 9% in a year. c)Increase the profit monthly through the above plans. Profits should increase by 15 in a year. d)Receive higher returns on the investment of 12% in a year. e)Grow in the market and expand the business’s market share by 6%. f)Increase revenue and sales margins after the first year, by 10% each year thereafter. – Long-term goals: a)To expand the business by locating it in different areas to facilitate the access of our products to potential customers in those areas; revenue will increase by 15% in a year. )To design a plan that will expand the business in terms of the target market; profits will rise by 18% in a year. c)Maintain long-term relationships with the clients and receive customer feedback. Market share will expand by 7%. d)Introduce new activities and extreme sports packages. Profits will increase by 19% in a year. e)Maximize profit margins and revenue margins by 22% in a year. f)Continue expanding in the market to eliminate any other competition. Increase market share by 10%. KEYS TO SUCCESS The essential keys to success of this business include: Create an environment for people to feel good about themselves, both physically and mentally. •To keep our customers comfortable by creating a relationship with them •Provide special activities for various holidays. •To insist on excellent customer assistance at all times •To recruit professionals in the different domains to insure customers’ satisfaction Always a follow up on the customers’ experiences in our premises and in outdoor facilities arranged by us. IDEA GENERATION When selecting an appropriate business, the group identified various factors and their implications on the business. EXTERNAL FACTORS CONSIDERED:

Economic factors: These included factors such as inflation, unemployment, economic growth and income inequality. Each factor was considered and evaluated in order to determine the most detrimental one to the business in the market. Initial surveys and experiments show that Income inequality will affect this business the most in this market. Political factors: These include the political upheaval in the market. Another major detrimental factor to businesses in Nairobi is the political factors. Therefore, it is important to study the current political situation and the impact it will have on our business.

Socio-cultural factors: These include factors such as population structure, lifestyles and behavior of the market. This was vital to consider since the nature of the business is one that has rarely been explored before and therefore, its success depends entirely on the customer behavior and lifestyles. Competition: The fewer the competitors, the easier the success of the business. Therefore, the business was selected based on the number of competitors in the market. X-Treme Gravity faces its main competition from “Out of Bounds” and “Kitengela adventures”. (Sourced from surveys)

The pie chart shows which one of these factors is seen as the most detrimental in the market, especially for our business. INTERNAL FACTORS CONSIDERED: Assets and resources: The assets and resources for the business are limited, since most of the sports being done on the premises are outdoor and require, one-off payments for the main equipment. Similarly, since the business is outsourcing for the extreme sports packages, then the assets and resources required are controlled. Financial budget: The business was also selected because the preparation of the projected financial budget was not impractical.

Initial start-up costs: The initial start-up costs for the business are relatively high for the new business. This is because the business is being located in Karen and the cost of acquiring lad is quite expensive. However, it is a one-off cost. Return on Investment: The return on investment is attractive. This encourages more investors to ‘pitch in’ and the success of this business highly depends on the attractiveness of the investment. Profitability: The nature of this business is very dynamic which constantly eliminates any new type of competition to this business.

The business may experience high initial start up costs but these costs are likely to be recovered fully within the course of the business. BUSINESS DESCRIPTION / COMPANY SUMMARY COMPANY DESCRIPTION AND OWNERSHIP: 1. 1Company description The business is mainly accentuated around extreme sports. We provide our customers with different thrilling activities. These include: A set of activities that can be enjoyed in either the ‘X-Treme Gravity’ recreational park or outside the premises. Our premises are situated in Karen, Nairobi.

This is our main center, and it will be an extreme sports recreational park. Then we extend our services by offering other extreme sports packages so that certain extreme sports such as scuba diving, skydiving, mountain climbing and white water rafting, among others, can be done in style. The extreme sports packages have been designed in such a way that it stretches out to different, unique places within Kenya that are best suited for that particular extreme sport. The main objective of this business is to provide a new way of enjoying and relaxing during leisure time to our Nairobi residents.

Therefore, ‘X-Treme Gravity’ is not only an extreme sports park but also a fun park, specifically founded to add enjoyment in the lives of our customers. EXTREME SPORTS AGENTS: We extend our services as extreme sports agents and the procedure that tour business followed is: 1. 2Company Ownership After a careful analysis of all the different possible ownerships available, this company will operate as a limited company for the following advantages: a)The ordinary shareholders are the owners of our company. b)The ordinary shareholders at the AGM elect the Board of Directors. )The members of the company can vary from two till infinity (depending on the no. Of shares) d)The shares are traded on the stock exchange. e)There is a separate ‘legal entity’ from the shareholders f)There is a limited liability to shareholders. g)Funds and finance are raised through the issue of shares and redemption of debentures. (MBA Publishing Ltd, 2005) COMPANY LOCATION AND FACILTIES: This company will be located in Karen considering the atmosphere we would like to create for our customers as well as the issue of land.

Extreme sports which need to be done outdoors will then have its appropriate locations where customers will either be transported there using the company’s facilities or use their private transport. Those w need to hire out our company vehicles to pick and drop them to our premises need to give a weeks advance notice, including the numbers needed to be picked. (Sourced from Kitengela Glass) The facilities included are: A cafeteria: The cafeteria is designed in a modern art style. It extends outdoors so that our customers can enjoy the outdoor breeze on a sunny day under the table umbrellas.

People may also sit in the well-designed, creative loft. Changing rooms: These have been included on the premises so that the people doing the outdoor sports can change there and lock their belongings in the secure lockers in the changing rooms. Picnic site: There is a picnic site on location, which has bee well designed to fit the description of “peaceful, relaxing and scenic”. This has been specially introduced for the schools, companies and families. An area filled with nature and comfort perfectly designed specifically for the satisfaction of our customers.

Go-kart and dirt bike tracks: The premises also include two separate tracks for go karting and dirt bike racing. Attention has been given to developing these tracks so that various competitions can be held on location under the categories of ‘junior karting’ and ‘team building’. Artificial rough rock wall: This has been installed on location as well for the purpose of training for rock climbing. There is one separate wall for juniors and one separate one for adults and professionals. Within this area, individuals are also trained for abseiling/ rappelling.

Rope crossing/ Tarzaning/ aerial rope structures: Once again, a separate area within the premises will be dedicated to all the rope games (heights), where ropes are tied to various tall structures very high off the ground. PRODUCTS AND SERVICES PRODUCT AND SERVICE DESCRIPTION: X-TREME GRAVITY will be offering the following activities within the premises: 1. Paintball: P aintball is a sport in which players eliminate opponents by hitting them with pellets containing paint (referred to as a “paintball”), usually shot from powered paintball gun (or marker). Wikipedia, 2007) The area for paintballing has been designed in such a way that it offers flexibility in the types of paintball games that can be played on location. These variations in the paintball games have been done intentionally, to offer a wider variety for customers ranging from the age group of 10 onwards. Among the paintball games that can be played on our premises are: Capture the flag- players need to steal the enemy flag and defend the friendly flag Elimination- shoot the enemy team; may replay if hit King of the hill- one team defends a raised flag while the other team attempts to lower the flag.

Zombie- a few players are considered enemy (only die with goggle shots) which will turn others into their team by hitting them Speedball- players start from 2 far sides of a round field trying to capture a flag placed in the middle and returning it to friendly base. (Wikipedia, 2007) 2. Go-karting: T He business chose to introduce go-karting on the premises because it is a very fun-filled, enlivening and stimulating game. The game requires a person to hire out a go-kart and complete several rounds, competing with other fast drivers on the same tracks with them.

The idea is to reach the finish point before the opponents and the thrill lies in the speed at which they drive the go-kart. The game has been designed and split in to two categories: The ‘junior karting’ for all the children under the age of 12 and ‘team building’ for adults and companies who come to the premises for ‘team building’ activities. We can also provide photography, video recording and product displays if required. (Envermeyer, 2009) ‘TEAM-BUILDING’ GO KARTING: What better way to get your workforce motivated than a Grand Prix-style event?

Once your staff is confronted by a track full of adrenaline-fuelled workmates and a burning desire to win you will soon see who responds best under testing conditions; there really is no better way of bringing people together than on the race track. (Envermeyer, 2009) “JUNIOR KARTING”: All likelihood the next Formula 1 Champion will have started his career in a go-kart. Youngsters from 8 years upwards are competing on a regular basis and whether you are trying the sport to see if the child has potential or simply looking for a different type of birthday treat the karting could be something to consider. Envermeyer, 2009) 3. Dirt bike riding: This game has several similarities with go-karting. To start with, it is a game that spells out ‘wild and crazy’ fun, just as go-karting. Separate dirt-bike tracks have been designed in such a way that the tracks are dusty, uneven, uphill, downhill, through bushes, testing various levels of difficulty. The tracks are quite long and the game requires a well protected and geared up individual to ride a motor cross bike through the different levels along the track, competing with his/her opponents along that track. The deal is to reach the finish point before your opponents.

The game is only applicable for children above the age of 15 and requires a certain level of skill or enthusiasm. (Dirtrider. net, 2005) 4. Aerial ropes / Rope crossing and Tarzaning: This activity emphasizes on height and balance. There are several activities involving ropes within the premises that have especially been designed for ‘team-building’ activities, ‘junior’ activities and ‘professional training’. One rope is tied from one tall structure to another and a person is to balance him/herself on the one end to the other wearing the harness and other necessary protective gear, for our client’s protection.

However, this is just one of the many activities with the ropes. There are bridges made of ropes only, suspended high off the ground, there are ‘Tarzaning’ activities as the name suggests and many more. (South Stafford shire council, 2009). The ropes are suspended very high of the ground and they have been positioned in an area within the premises that has outdoor, adventurous, bushy excursion scenery. This helps overcoming the fear of heights. Some of the trails we offer are: MINI AERIAL ROPES TRAIL: 8 years of age & up:

This trail is to be created especially for small adventurers. The trail is similar to the regular trail, but is adapted to the younger clientele. This trail permits children to have fun going from one tree to the next all the while at their own rhythm and abilities. Although, the trail has different levels of difficulties for the juniors as well. Participation Requirements: (South Stafford shire council, 2009). Must measure a minimum 1m40 arms extended, from fingertips to toes. Adult supervision is obligatory. Be in good health.

THE ‘CAP JASEUX’ TRAIL: Aerial ropes course in Cap Jaseux consists of 73 suspended bridges, which cross over 4 distinct areas. These bridges wind through a majestic trees, bushes and woods, from platform to platform within’ the trees. Each section is composed of a complete route with each its own challenges and surprises, but always respecting the capacities of each hiker. (South Stafford shire council, 2009). Participation Requirements: You must be over 8 years of age and measure a minimum of 1m80, arms extended, from fingertips to toes.

Participants under 16 years of age must be accompanied by a responsible adult (an adult can accompany a maximum of 3 young participants). Participants cannot be under the influence of alcohol or drugs. Participants must be healthy. 5. Zorbing: The activity of sphering, zorbing or globe riding is the recreational practice of humans rolling downhill in a bouncing sphere, generally made of transparent plastic. Sphereing is generally performed on a gentle slope, but can also be done on a level surface, as well as on water, permitting more rider control.

The zorbing zone has been designed with several exciting and challenging barriers. While rolling downhill in the plastic ball, the sphere is rolled down n a certain direction and from there it meets several ‘cushioned’ barriers that make the sphere ‘bounce-off’ the cushioned barrier. We offer two types of spheres, the single holder and the double holder. Zorbing is a very flexible game as it can be done in various ways. It could be rolled down, it could be in water, it could be bounced off various barriers. Extras: We also include a low level of water in the zorbs. Extreme dreams, 2009) . 6. Wall/rock climbing and abseiling/rappelling: For those who are interested in high-adrenaline adventures and the terror of height, wall/rock climbing was not forgotten in the mixture of the creation of X-TREME GRAVITY. In this sport, the climber wears a harness and other protective equipment before the activity begins in order to protect them from accidents of any sorts. The built-in wall/rock wall has an uneven, rough texture just as in a real adventure. Individuals are required to climb it using different levels of support. The wall stretches very high.

On reaching the top, then the individual is required to climb down using the appropriate equipment from the other side of the wall. This helps in and it can be used especially for training of using the appropriate equipment and climbing and descending aptly, for a real rock climbing expedition. (Wikipedia, 2007) EXTREME SPORTS PACKAGES: The business is keen to provide exciting, thrilling and adventurous extreme sports packages and therefore, X-treme Gravity has designed several exhilarating packages for the introductory stage of the business.

The business looks forward to expanding and introducing more new and unique extreme sports packages over time. The packages that X-treme Gravity introduces, includes: Mountain Climbing White-Water Rafting and Kayaking Scuba Diving Sky diving Mountain Climbing If you enjoy climbing/hiking, Kenya has a lot to offer, the most favorable areas being, the Aberdare Mountains, the Chyulu Hills, Hell’s Gate, Mt. Susua, Mt. Longonot, the Menengai Crater in the Rift Valley, Ngong Hills, located south-west of Nairobi, Cherangani Hill, Mt. Elgon and Mt Kenya. (East Africa Shuttles & safaris Ltd, 2008)

Mt Kenya offers a rewarding hike as well as challenging climbs. There are eight routes up the mountain, three of them being the most popular and accessible to anyone of reasonable fitness. Naro Moru, lying to the west, is the easiest ascent with Sirimon to the north and Chogoria to the east being equally popular but you still need to be fit and properly equipped. Batian at 5,199meters is the summit and should only be attempted by experienced climbers. You need to be accompanied by a porter or go with organized tour. Be careful of altitude sickness and hypothermia.

The best time of the year for climbing is from mid-January to late February and from late August through September but it is accessible most year round. (East Africa Shuttles & safaris Ltd, 2008) You will need warm, wind proof clothing, strong comfortable walking boots, gloves, a tent and a good sleeping bag as well as a stove and high-energy food and drinks. Several places hire equipment (East Africa Shuttles & safaris Ltd, 2008) Mount Kenya Routes and Rates (East Africa Shuttles & safaris Ltd, 2008) Sirimon Route – The least used of the three principal routes.

Because Sirimon is on the dry side of the mountain it offers some of the finest forest walking to be had on any tropical mountain. In the lower sections, above the Park Gate. Higher up, Hugh specimens of St John’s Work interspersed with small thickets of Bamboo. Near the top of the track, beautiful alpine flowers and the start of the tussock grass. Animal life abounds and parties often come across buffalo, elephant and sometimes-even lions. Naro Moro Route – Although the least scenic of the three principal routes, it remains the most popular.

Firstly it is the fastest route to Lenana and back if you enter from the main road. Secondly both the Naro Moro River Lodge and Mountain Rock Hotel offer excellent facilities for climbers, including equipment hire porters and comfortable accommodation. Chogoria Route – Having reached the road head, Chogoria is the fastest and, arguably, the most beautiful and spectacular route up the mountain. Itinerary: (Packages designed by X-Treme Gravity) Option 1: -2 night 3 days. Sirimon Route $537 pp (Kshs. 42950) Day 1: Transfer from Nairobi and beginning of ascent.

The first night is spent at Old Moses Day 2: Trek from Old Moses up to Shiptons Hut, in preparation for the final ascent. Day 3: Starting very early in the morning, ascend up to Lenana Point for Sunrise. The descent begins shortly afterwards, back past Old Moses in order to meet the vehicle, for the transfer back to Nairobi. Option 2: 2 nights 3 days. Naro Moru – route. From US$537 pp (Kshs. 42950) Day 1: Transfer from Nairobi and beginning of ascent. The first night is spent at the Met Station. Day 2: Trek from the Met Station up to Mackinders Hut, in preparation for the final ascent.

Day 3: Starting very early in the morning, ascend up to Lenana Point for Sunrise. The descent begins shortly afterwards, back past the Met Station in order to meet the vehicle, for the transfer back to Nairobi. Option 3: 3 nights 4 days Sirimon Route from US$600 pp (Kshs. 48,020) Day 1: Transfer from Nairobi up to Old Moses. Day 2: Trek from Old Moses to Shiptons Hut. Day 3: Starting very early in the morning, ascend up to Lenana Point for Sunrise. The descent begins shortly afterwards, back to Old Moses for the night. Day 4: Final descent and transfer back to Nairobi.

All Prices include: All prices exclude: Park FeesTipping PortersClimbing Gear & Sleeping Bags GuidesBeverages & Mineral Water Accommodation in huts 3 simple meals per day Cooks White-Water Rafting and Kayaking Kenya has three rivers; the Tana, the Athi and the Ewaso, suitable for rafting at all levels of competence up to exhilarating Class V white water. The experience is more rustic and less crowded than the Zambezi version. (East Africa Shuttles & safaris Ltd, 2008) Below are details of the rivers we run and the rates for established trips. Rivers and Rates: The Tana River – one day rafting trip:

Our premiere one-day trip ideal for people with a day or two to spare when visiting Nairobi, or those basing themselves in the capital (only 100kms along the Nyeri Rd). This will be an exciting day of thrills (and often spills) with a great mix of high action white-water (up to grade V) interspersed with scenic calm water where bird life abounds. Not enough? Why not leap feet first into a big surfing hole, jump a 30ft waterfall or swim The Devils Toilet Bowl (water level dependant). (East Africa Shuttles & safaris Ltd, 2008) A typical day trip starts with you being picked up from either The Norfolk hotel, or Sarit Centre in Nairobi by 8am.

A 1. 5hr drives sees you arriving at our Camp at Sagana. Here you can relax with tea/coffee and biscuits before receiving a comprehensive safety briefing. After signing a compulsory release and assumption of risk form, we drive up to the put-in where you will receive some final practical training before heading down river. The trip is either 16km (high water season) or 8km (low water season) and lasts approximately 4hrs. This varies greatly due to the water levels and we often find ourselves rafting 8km one day, then 11km the next due to rain upstream.

The trip takes out at Savage Camp, where you can enjoy a solar heated shower or relax in the pool before enjoying a three-course BBQ lunch. Trips depart Savage Camp no later than 5pm for Nairobi to ensure you arrive back at your pick up point before dark. Other options available on the Tana include scenic float trips from the camp downstream on completely flat water for those not wishing to experience any white-water. This trip lasts 4hrs and takes in the abundant bird life inhabiting the lush riverine forests along the river. To date our guides have recorded over 120 species of birds on this section.

A Kenya Professional Safari Guide usually takes trips. (East Africa Shuttles & safaris Ltd, 2008). New to our repertoire of Tana trips is the full moon run. This takes in the white-water section only and lasts about 3hrs. (Packages designed by the X-treme Gravity) Prices All prices are in US dollars: One day trip — 99. 00 (Kshs. 7,910) One day/one night —137. 00 (Kshs. 10,920) Scenic float trip — 82. 00 (Kshs. 6,540) Full moon trip — 124. 00 (Kshs. 9,950) The Athi River – 3 day rafting expedition: Itinerary (East Africa Shuttles & safaris Ltd, 2008) If you like multi-day expedition style trips then the Athi is for you!

Flowing through Tsavo National Park, we raft up to 80km`s of Kenya’s second longest river with three days and three nights on the river. The river gives an awesome mixture of relaxing calm water with game viewing (Lion, Elephant, Buffalo, crocodile and hippo have all been seen from our boats) and abundant birdlife interspersed with some great white-water (up to grade IV). The trip usually goes out fully self supported with our guides providing breakfast (full cooked or cereals/fruit/toast), lunch (a selection of cold meats and cheeses with bread/salad and fruit) and dinner (three courses).

If a more luxury trip is your style then vehicle support (at an extra cost) is available to bring those added necessities. (East Africa Shuttles & safaris Ltd, 2008)Day one: gets you to Athi at Kibwezi, a short drive from the Mombassa road. After our comprehensive safety briefing, you will set out in the afternoon to raft the short distance to our first camp, Bushwhackers. Set on a secluded sandbar mid river. The first night is spent round the campfire listening to the sounds of Africa and swapping stories with the guides about the days ahead.

Day two: after breakfast and an early start you will soon reach our first major rapid followed by a few calm sections interspersed with smaller rapids down to our lunch spot. More rapids and flat open plains where hopefully you will see some of the animal’s native to this area follow this. Late afternoon we arrive at our second camp `scorpion` on the relatively unpopulated left bank of the river. Day three has some of the best rapids with the legendary `Vietnam` taking you through dense undergrowth and crocodile burn providing an awesome hit.

After another fun packed day you will arrive at our final camp, `Hippo`, where you will spend a final night by the fire relaxing and re living the previous day’s action. Day four: we return to Nairobi by around lunchtime. Price (US Dollars) – $623. 00 (Kshs. 49,800) All prices exclude: Tipping Beverages & Mineral Water Scuba Diving and balloon safaris Kenya has nearly 600 kms of coastline, nearly all bordered by spectacular coral reef. The Indian Ocean provides warm, hospitable waters, with coral reefs teeming with marine life, ideal for scuba diving.

Often on our way to dive sites the boat will slow down to play with a school of friendly dolphins or stop to dive with the gentlest of giants, the whale shark. (Africastay, 2004) In Kenya we work with Diving the Crab and Diani Marine – Kenya’s top dive schools. Both are based at Diani Beach on the South Coast of Kenya and are accredited to run PADI and SSI dive courses. Diani Marine was established in 1978, Diving the Crab in 1983 so both schools have nearly many years experience of scuba diving in Kenya and operate very well run dive bases, equipped with the latest equipment, dive boats and high qualified instructors and dive masters. Africastay, 2004) The package: 7 night’s accommodation at beach side hotel on the spectacular Diani Beach + flying safari to the Masai Mara for 2 nights 3 day in Luxury tented camp. on full board with 3 game drives per day in 4×4 vehicle Optional extras such as diving with Whale Sharks, scuba dives and courses, dolphin watching, kite surfing + windsurfing; Flights from Europe not included, airport transfers included and park fees included Location, Mombassa Region, Diani, South Coast Price, from US $ 1,198 (Kshs. 5,800) All prices include:All prices exclude: Flights, Included Tipping Availability: All yearBeverages & Mineral Water Skydiving Divers are usually based at a single beach resort and make their way to a local airstrip before falling out the sky at enormous heights. At Diani, skydivers take a short trip to Ukunda airstrip, and ascend in a Kenya Twin Otter, completing the spectacular and exhilarating drive by landing on the doorstep of their chosen accommodation to enjoy a well-earned drink. Mowngera Kioga, 2005) This means that at Diani, skydivers stay at the Safari Beach Hotel – take a short 10 minute drive to Ukunda airstrip, take off in a waiting Air plane [Twin Otter], and then dive directly over the beach- landing on the sands right at the doorstep of the resort. For the skydiving addict, this is a perfect arrangement. For most skydivers, it’s all about the fall- the pure freedom of flight that lasts from the time a jumper leaves the plane until the parachute is pulled at around 2000 feet.

The average diver falls at the incredible speed of 120 miles per hour- but those who have never tried it may be surprised to know that this experience does not feel like falling- the continued momentum of the plane sends the diver earthward on a sustained arc- which means that there is none of the stomach lifting “plunge” sensation that you may expect. (Mowngera Kioga, 2005) This is the nearest experience possible to flying free as a bird n freedom at its most pure and simple. Packages 2 night, 3 days, Diani beach. US $ 1,074, (Kshs. 85,900) Day 1: Transfer from Nairobi to Mombasa Diani

Day 2: sky diving day. Day 3: Starting very early in the morning, for the transfer back to Nairobi. Location, Mombasa, Diani Region, Kenya, Africa All prices include:All prices exclude: Flights, IncludedTipping Availability, January, February, March, November, December,Beverages & Mineral Water CURRENT SITUATION AND SWOT ANALYSIS INDUSTRY PATTERNS: Whilst millions of shillings are being pumped into the sports industry especially the extreme sports industry, by companies in the form of sponsorship, most extreme sports remain at amateur levels, bedeviled by problems.

This is in sheer contrast to the thriving environment businesses are currently enjoying. Among the most attractive extreme sport is mountain climbing and trekking which is mainly practiced in on Mt. Kenya, Mt. Elgon, the Aberdare Mountains, the Chyulu Hills, Hell’s Gate, Mt. Susua, Mt. Longonot, the Menengai Crater in the Rift Valley, Ngong Hills, located south-west of Nairobi, Cherangani Hill, as just a few to mention among others. Extreme sports are a combination of both professional and corporate social sports at the same time.

The second most popular extreme sport is Skydiving, which is usually based at a single beach resort and make their way to a local airstrip before falling out the sky at enormous heights. At Diani, skydivers take a short trip to Ukunda airstrip, and ascend in a Kenya Twin Otter, completing the spectacular and exhilarating drive by landing on the doorstep of their chosen accommodation to enjoy a well-earned drink. Throughout the 2002 event, over 120 divers made continual skydives over 2 weeks.

Kenya has a weak reputation for extreme sports compared to the other sports, the coastal regions are mainly the scene for these sports mainly because of the huge water bodies (sea), and on the other hand, motor sports tend to recover the reputation through big sporting events like the Kenya Safari Rally, which takes place around Easter. The rally, which starts and finishes in Nairobi, follows a route that covers 4,000 kilometers (2,486 miles). Large crowds follow the event in the rural areas and the cities.

During the rally, daily results dominate radio, print, and television news coverage as Kenyans cheer for the local heroes competing against top international drivers. In the sports industry, the rules of play change constantly. Sports organizations must deal with an ever-evolving array of challenges such as risks that can threaten organizations’ ability to compete in this dynamic and high-profile marketplace, finding professionals experienced in identifying and solving the unique risk management challenges facing companies and organizations within the sports industry.

Some of the major challenges are Designing and negotiating cost- effective, custom-made insurance programs tailored to the needs of your company or organization, Establishing a loss-control program by assessing the risks facing your company or organization and preventing losses before it is too late and designing a claims management program that will help reduce your total cost of risk. The Government says that it will support establishment of extreme sports lottery that will among other issues help fund the welfare of extreme sports people and promote sporting activities in the country.

President Kibaki said a committee will soon be formed to manage the lottery to improve extreme sports in the country. “We want to have institutionalized mechanisms in Kenya that will promote various fields of Extreme sports and improve the welfare of extreme sports people in the country,” the President said. In recognition of the importance of sports, President Kibaki said the Government has initiated measures to strengthen the sports industry in Kenya.

He disclosed that the Government has allocated resources in the budget to support sports development programmes. Said President Kibaki: “My Government has also established the sports stadia management board and set aside funds for maintenance of sports facilities countrywide. ” The President said, in addition to these measures, programmes will be intensified for the promotion of extreme sports through identification and training of talented young people from the districts and provinces up to the national level.

He observed these sporting activities are essential not only for nurturing good health but also in creating opportunities for individuals and communities to socialize among people “Thus sport contributes to building a cohesive society that is an essential base for a strong and prosperous nation,” the Head of State said. The President pointed out that sports have become a source of dependable employment for many young people and urged extreme sports people to aspire to excel in their chosen fields in order to benefit from these sports. In terms of market needs, there is legitimate great need for extreme sports entertainment.

A growing economy means more people have more money to spend and leisure activities are gaining a premium. The local entertainment industry mostly consists and is almost limited to media. People are willing to spend a lot just to enjoy the pleasures of extreme sports and explore these sports to rise in the sports industry for economic purposes. Some of these sports are professionally practiced around the world and cost quite a lot compared to the local sports but this in turn brings a benefit to the country as a whole, not only financially but economically and socially as well.

In terms of promotion and engagement, our emerging culture has a tremendous tie to sports. People will develop a personal identity with a sport; being in such a group fulfills a strong social need. This is a social need that is currently only served by mainstream sports. Club sports tend to disappoint but there is a legitimate social need not being met here. This is because club sports are usually amateur played and do not engage in team building so as to play among people and get to know the sport very well, such an example is golf, which is played individually, so it is up to the player to play it right.

COMPETITION AND BUYING PATTERNS Competition is mainly among touring companies, lodges and resorts that associate with different packaging styles and enhance these extreme sports. They help in the practice of these sports such as to get the appropriate locations for the sports. These touring companies have professionals who help in the process of undertaking these sports, where they guide the actual practitioners all through the way. Some of these companies include Africa scope safari and tours located in Nairobi, Extreme Safaris located in Mombasa, Kenya eco lodges, Kenya diving resorts, Mt.

Kenya treks, Burguret Chogoria, Wildlife safaris, the ultimate expedition and various others. This leads to a monopolistic competition among the market therefore competition is intense due to many choices and a wide range of variety for customers to make decision upon. These touring companies create a ‘smart’ marketing strategy in order to attract their customers. This is done through affordable and attractive packages and offers that customers look forward to all the time.

This is mainly generated during the peak seasons although most recover their costs through high pricing but in an attractive way or package therefore making the competition intense. This allows very little room for new entrants in the market therefore creating barriers to entry. The buying patterns are mostly the youth who are excited to explore these sports in many ways. This is because most of them are fearless of the risks and are energetic therefore allowing them the opportunity to participate in these sports.

Even though money is an issue, as most of them are not employed, they still do these sports as they borrow money from other sources. Following the youth are the middle-aged adults who have fear of safety but still some of them dare to challenge themselves. These people are mostly employed but still have concerns about prices due to economic downturn plus some get limited salary just enough to survive. This in turn causes a high pricing pressure on the companies allowing them to target their market.

Therefore in summary, the main market here is the market with high income and flexible lifestyle who can afford to enjoy these sports at any time although those with an average income tend to save but this eventually takes a long time before they practice these sports. OTHER PRODUCTS THAT AFFECT OUR BUSINESS PRODUCTS: Other competitor’s products: The extreme sports industry is dormant in the industry currently. Perhaps the biggest reason for that are the backward trends of the society and the cultural backgrounds. Therefore, the idea is to make extreme sports a new and latest fashion in Nairobi in order for the business to succeed.

However, the downfall in our competitor’s products allows our business to pick their weaknesses and turn them in to our strengths. SWOT ANALYSIS: STRENGTHS: a)Excellent staffs that are highly trained and are very customer attentive: Customers are drawn to excellent services since it is the only indicator of the quality of services. Since we are employing highly trained staff who will provide efficient and effective services to our customers; keeping the customers in mind at all times; it is expected that the reputation of our business will grow rapidly as a result of our efficient staff. )Well-equipped ground state of art equipment: This is an indicator of quality of the services we provide. Apart from that it offers a competitive edge for our services. c)The business is able to establish a strong reputation for our services because the business is monopoly in the market. The nature our of the business apparently makes us stand-alone and as a result gain customer loyalty. d)The business is a unique idea: We offer our services as a package. This will be convenient to our clients especially those who normally prefer paying at once when booking. )Superior service offering: Extreme sports; sky diving, scuba diving mountaineering, Bungee diving and white water rafting. f)The Internet: Our website www. xtremegravity. com promises to be significant technological solution for our products in the areas of registration, communication and information delivery system. The website has demonstrated the ability to provide more extensive and current information at reduced costs. g)A state-of—the art computer system: utilizing the latest software that continues to enhance our productivity and expand our capacity.

There is real time processing where customers requirements are processed as they are received. WEAKNESS a). The business is struggling to build brand loyalty. The business has not yet developed footing with the customer and is still creating market demand for the product. b). Difficulty in finding well skilled workers: -Extreme sports are very fragile and needs highly skilled workers who unfortunately are very difficult to find. c). Lack of knowledge, awareness and information of the new business being offered. Most of our local customers tend to be ignorant in extreme sports and consider it as a ‘sport for others’.

We therefore in our promotion strategy focus intensively on creating awareness of this new product. d). Seasonal revenues posses as another weakness. Apart from the locals we are also targeting tourist who actually and factually jet according to the season. We therefore need to adjust in promotions during high and off pick season to maximize our profits. OPPORTUNITIES a). Growing awareness due to the rising awareness in health, fitness and extreme sports and interest too. The government and the world health organization in general have organized campaigns stressing on Importance of physical fitness.

This advantage since awareness is being created and indirectly advertising our product. b). Ability of developing long-term customers . Basing on the monopoly nature of our product, there is a great potential of developing long term customers who are very much loyal to our product. c). At the moment very low competition in the market for this product. We have the potential of acquiring the lion’s share of the market. THREATS. a)Seasonal interest in particular sports which is in direct competition with our own sports. Examples of these sports include the marathons e. g. Lewa marathon, the safari rallies e. . KCB and cycling. Most people tend to plan for this programs in their Holiday calendars and this Impacts negatively to our business at these times of the year. b). Lack of knowledge and interest in our product. Extreme sports is not In the mind of most people while others who have information about it tend to behave like they have other better things to handle than go for such sports. c)Many fears and safety concerns associated with our product. Due to the risks associated with this sports, some of our expected customers turn away from it and making them o change their minds may not be that easy. )Legal and liability issues. Extreme sports continues to be exposed to liability issues in many aspects in many aspects of the experience it provides . The potential concerns range from health and safety issues to various forms of verbal or physical abuse in an increasingly litigious society, there is always potential for legal actions. MANAGEMENT SUMMARY ORGANIZATIONAL STRUCTURE: The business will operate using the common organizational structure. The business operates using the concept of ‘departmentalization’ and in particular the ‘vertical functional’ approach.

Since the business is in the preliminary stages, most of the positions besides, the directors are vacant. (Organizational structure, O. E. ) MANAGEMENT TEAM: Since this is a new business being ventured, the management team is constricted to the main departments for this business. As the business expands, we will be able to employ more managers and initiate other secondary departments. Qualifications: A basic Bachelor of Business degree or A bachelor’s degree with any one area of expertise required for that position A professional degree Masters of Bachelor of Administration (MBA)

At least 5 years work experience. The vital departments for this business have been addressed and managers are required for the field of: General manager: The general manager will be in charge of the day to day running of the business and will mainly accentuate around the administrative staff and the sundry staff. Extreme sports / Outdoor manager: The extreme sports manager is required and is perhaps the most vital manager for this business since the business mainly comprises of extreme sports and a leader is required for the extreme sports specialists.

Cafeteria manager: Since the premises will also consist of a cafeteria, it is necessary to have a manager controlling the daily activities for the cafeteria and reporting to the general manager or even to a director. The manager is also required to observe the needs of the staff. Marketing manager: Another very important section of the business. This is essential because the business requires expertise knowledge on marketing and promotion of the business is to be successful and expand. Therefore, a marketing manager is required. Financial and accounting manager:

A financial manager needed to fill the position. Required to maintain the basic book keeping for the business and calculate the daily finances. Work hand in hand with internal auditors. SALARIES AND REMUNERATION FOR MANAGEMENT AND STAFF: Constant for three years: No. Kshs. Directors remuneration p. a22,000,000 Managers salaries5300,000 Staff salaries10250,000 Proffessionals salaries8280,000 2,830,000 FINANCIAL PLAN FINANCIAL OBJECTIVES: The following are the financial goals of the business for a year. ?Achieve revenue growth of 10% per year Increase earnings by 15% annually ?Increase dividends per share by 5% per year ?Increase net profit margins 2% to 4% ?Boost annual returns on invested capital from 15% to 20% ? Stronger bond and credit ratings ?Recognition as a “blue chip” company ?A more diversified revenue base ?Stable earnings during recessionary periods ?Return on investment (ROI) of 15. 5% ?Solvency ratio of about 30%; ?Dividend distribution of at least 30% of the net profit, unless dictated otherwise by long-term investments and/or acquisitions and/or exceptional circumstances. DIVIDEND POLICY:

In recommending the dividend, the directors will consider the following: The availability of distributable profits: Dividends will be given on a basis of the profits that are distributable The availability of liquid funds: In a time of solvency problems, dividend payments will be adjusted accordingly Whether the revenue reserves are adequate or need to be increased by further profits ploughed back into the business A balance between dividend growth and capital growth The liability to advance corporation tax, which arises from the payment of dividend. (Dividend Policy and account, W. M. ) IMPORTANT ASSUMPTIONS:

There are certain factors that are not mentioned and cannot be explored, therefore X-Treme Gravity analyzed, debated and made an assumption based on those factors. These factors are mainly pertaining to the projected financial statement and the start-up plan for the business. The specific assumptions are stated in the calculations for revenue and expenses. For a broad view on the assumption though, these factors were considered: The tax rate of 30% per annum (approximated) The estimated cost of equity The estimated cost of debt i. e. bank loans and debentures The cost of marketing and research

The number of expected customers for each year The number of expected customers for each outdoors sport and the extreme sports packages. The fixed cost remains constant for the first three years The fees per person from: The entrance fees, activities and the picnic site remain constant for the three years. The variable costs will increase by 10% each year. START – UP PLAN FOR THE BUSINESS: (Sourced from Finance lecture notes, WACC, F. A. ) Since the business will operate as a limited company, there are various sources of funds and finance for this business. These include: Bank loans Ordinary shares Preference shares

Corporate bonds: Debentures Bank loans: These are currently being given at an interest rate of 16. 50%. The business cannot highly depend on its shares for raising its initial investment since it carries a high risk. Therefore, a bank loan will also be used, with an annual interest of 11. 55% after tax. Ordinary shares and preference shares: The business is issuing five million ordinary shares and one million preference shares for the first year. The cost of equity is 13. 50% and 12. 50% respectively. Debentures: The business is also issuing corporate bonds for the purpose of long-term security. The cost of its debt is 9. 0% after tax. SourcesAmount (Kshs)Cost of debt/ equity (%)After-tax cost (%)WeightsWACC (%) Ordinary Shares (@ Kshs 5)25,000,00013. 50%-0. 364. 86 Preference shares (@ Kshs 10)10,000,00012. 50%-0. 141. 75 Bank loan17,500,00016. 50%16. 5(1-0. 3) = 11. 550. 252. 89 Debentures17,500,00014%14(1-0. 3) =9. 800. 252. 45 Total70,000,000111. 95% The estimated tax rate is 30% each year and the required rate of return is 11. 95%. INITIAL START-UP COSTS: (Start-up costs sourced from different businesses) CostKshs. Cost of purchasing land in Karen42,000,000 Cost of construction and renovation7,000,000 Cost of business van / bus1,500,000

Cost of furniture for the lobby and cafeteria1,600,000 Cost of office furniture and equipment1,200,000 Cost of marketing research750,000 Cost of acquiring licenses1,000,000 Cost of outdoor tables and chairs320,000 Cost of activity equipment (W3)13,154,000 Total69,424,000 CALCULATION FOR REVENUE AND EXPENSES: PROJECTED INCOME STATEMENT: FINANCIAL ANALYSIS: PROJECTED INCOME STATEMENT: The projected income statement shows that the initial year expenses are very high relative to the revenue. However, the business will still make a profit in the first year. The net profit margin for the first year is 2. 4%, which indicates that for every Kshs. 100 of revenue earned, a profit of 2. 74 is being made on it. The second year projections indicate a sharp increase in the net profits. The net profit margin increases to 17. 23%. This shows that the business will be picking up especially in the second year. In the third year, the net profit margin indicates that, the net profits are increasing at a slow rate but the margin is still very high. MARKET RESEARCH AND SURVEY DESIGN METHODS OF RESEARCH: The business used various methods for research: ?Surveys / questionnaires ?Face-to-face interviews ?Telephone and e-interviews. Market experiments Surveys/ Questionnaires: The business highly depended on the surveys to determine whether the sample market accepted this business. The survey was used to determine several factors that required fieldwork that could not be gathered otherwise. This was the main form of research. Face-to-face interview: These were conducted with the general public as well as several travel agencies such as Twiga tours and Ibis. It was used to determine information such as the form of operation of a travel agent, the costs involved for outsourcing with travel agents and the marketing costs for using travel agents.

Telephone and e-interviews: These were conducted with those companies that were too far to travel to. Our competitors ‘out of bounds’ and ‘Kitengela adventures’ were interviewed via telephone due to distance. Similarly, banks, insurance companies, hotels and lodges were interviewed via email due to the timing constraint for these firms. The market experiment: This was conducted for the purpose of the promotional campaign effectiveness. The general public was asked whether they could recall the advertisement for the business, whether they could summon up the slogan for the business and what other details they could evoke.

OBJECTIVES OF THE SURVEY: Before conducting the survey, the business opted to decide the key objectives or goals that the survey was trying to achieve. After viewing the different aspects that required the attention of the market, the questionnaire was designed strategically to cover all these aspects and objectives. The objectives selected are: ?To determine the potential demand for extreme sports as a recreational activity in the market. ?To establish the potential competition for extreme sports, outdoor sports and extreme sports packages in this market. ?To identify the ability and the chances of the business survival in the market. To establish what the general public of this market is looking for in this business. ?The demand for different types of extreme sports. ?The preference for Karen as a location and the opinions of the general public, concerning the location for the business. ?To determine other locations for the business. ?The audience’ opinion on the pricing of the packages and products offered by X-Treme Gravity. ?To determine the target market for the business’s products and packages. ?Analyzing and identifying the key external and economical factors that are barriers to the success of this business. ?The acceptability / viability of the business.

SAMPLE SURVEY: (Web surveyor, 2009) X-TREME GRAVITY QUESTIONNAIRE This is a recreational business that is mainly accentuating on extreme sports such as skydiving, bungee jumping, white water rafting, scuba diving, snorkeling, surfing, mountain climbing and trekking, among others. The business is a new and unique idea for leisure in Nairobi City, mainly developed for the purpose of diverting people to healthier ways of enjoying their leisure time. We will be carrying out various extreme sports within our premises (which has been conveniently located). We also extend our services as extreme sports agents.

Those activities that cannot be done within the city (e. g. the water sports) will be arranged for in different areas within Kenya. These packages are directed towards anyone and everyone, ranging from school children to adults. (Circle your choice) NB: The 5 – point scales used, range from: Bad (1), Average (2), Good (3), Very Good (4), and Excellent (5). 1)How do you prefer extreme sports? 1 2 3 4 5 2)Are you? Male Female 3)What age bracket would you appear under? a)11 – 20 b)21 – 30 c)31 – 40 d)41 – 50 e)50+ 4)Are you currently? )Employed b)Looking for a job c)Studying d)Retired 5)During your leisure time, you enjoy: a)Doing some sports b)Going on a long vacation c)Watching TV at home and lazing around d)Others 6)If a new extreme sports business develops in the markets, would you: a)Be one of the first to try the sports for this new business b)Wait for a while for the business to settle in to the market and then try it. c)No, I prefer doing my own activities at the sports club d)No, it’s not my area of interest. 7)The location of the business would be in Karen. How would you prefer it? 1 2 3 4 5 ) Which district do you live in? ___________________________________ 9)Would you find the location of the business in Karen? a)Convenient b)Out of the way- too far for you to get there c)Appropriate for the type of business (extreme sports) d)Skewed / biased 10) If you had a choice, where would you locate this business? _____________________________________________ 11)Since the business offers extreme sports packages, among the rates included for these packages are: What would you think of these rates? Extreme sports packages: Ranging from Kshs. 30,000 p. p. to Kshs. 90,000 p. p (approximately) 2 3 4 5 12)Approximately how many people do you think will turn up in the first year? a)150 – 300 b)301- 450 c)451 – 550 d)550 + 13)Out of these extreme sports, which would you like the most? a)Sky diving b)Bungee Jumping c)Water sports i. e. Scuba diving, white water rafting, surfing d)Mountain climbing & trekking e)Others 14)The idea of a new extreme sports recreational park would be? a)Exciting b)Unique c)Not realistic d)None of the above 15)According to you, which one of these economic conditions will the biggest factor to affect the market for extreme sports adversely? )Inflation b)Unemployment c)Downturn in economic growth d)Income inequality e)Others 16)From this business, your biggest expectations are: a)Excellent quality of services b)Fun and exciting extreme sports packages c)Reasonable prices for the extreme sports packages d)Other activities besides extreme sports 17)Do you see this business as? a)A new and unique business in the market b)A similar business to a few other competing businesses that already exist c)A small business competing with many small businesses of its own type 18)Out of these factors, which would affect majority of the businesses in Kenya? a)Economic factors i. . recession / downturn in the economy b)Political or legal factors c)Socio – cultural factors d)Competition 19)To what extent does your chosen factor affect the survival of a new extreme sports business? 1 2 3 4 5 20)What other suggestions or advice would you give for this new extreme sports business? ~END OF SURVEY~ Thank you for your cooperation and time. We assure you that your responses in this questionnaire will be kept highly confidential. RESULTS OF SURVEYS AND DATA COLLLECTED: DATA COLLECTED: A total of 36 surveys out of 50, were successfully completed.

INTEREST IN EXTREME SPORTS: Level:No. Of people(%) 1-Bad26% 2-Average38% 3-Good925% 4-Very good1028% 5-Excellent1233% TARGET MARKET Class of people:No. of people(%) Gender: Male2569% Female1131% Age group: 11-201233% 21-301953% 31-4038% 41-5013% 50+13% Occupational status: Employed822% Looking for a job38% Studying2569% Retired00% Lifestyles / Behavior: Innovators1542% Conservatives411% Not interested514% Wait for business to settle1233% LOCATION: Preference for Karen: LevelNo. Of people(%) 1-Bad26% 2-Average925% 3-Good1542% 4-Very good411% 5-Excellent617% The location is: No. Of people(%) Skewed/ biased:411% Convenient:617%

Out of the way:1233% Appropriate for the business:1439% DEMAND (IN TERMS OF CUSTOMERS) FOR THE 1ST YEAR: No. Of customers expected in the first yearNo. Of people(%) 150-3001850% 301-450822% 451-550514% 550+514% INTEREST IN DIFFERENT TYPES OF EXTREME SPORTS: Type of extreme sport:No. Of people(%) Sky diving1028% Bungee jumping822% Water sports822% Mountain climbing1028% ECONOMIC FACTORS AFFECTING THE BUSINESS ADVERSELY: Economic factors:No. of people(%) Inflation38% Unemployment1131% Economic Recession925% Income inequality1336% CHANGES IN UNEMPLOYMENT AND INCOME INEQUALITY OVER TIME: YearsUnemploymentIncome inequality (%)(HDI)

Year 200540%0. 521 Year 200640%0. 532 Year 200740%0. 532 Year 200845%0. 544 Year 200943%0. 541 TYPE OF BUSINESS IN THE MARKET: Type:No. of people(%) Monopoly2569% Oligopoly822% Monopolistic 38% PROJECTED MARKET SHARE FOR THE BUSINESS: Year:No. Of competitorsMarket share Year 2009337% Year 2010526% Year 2011720% Year 2012817% OTHER FACTORS AFFECTING THE BUSINESS ADVERSELY: Factors:No. of people(%) Economic factors1747% Political-legal factors822% Socio-cultural factors719% Competition411% ANALYSIS OF THE DATA: Figure 1. 2 shows that, 86% of the sample market has a great interest in extreme sports while 14% of the sample market does not.

This permitted us to continue further with the business proposal. Figure 1. 3 supplements figure 1. 2. After determining the interest in extreme sports by the sample market, the level of preference was determined. The figure shows that 33% think of extreme sports as ‘excellent’ while 6% think of extreme sports as ‘bad’ due to lack of interest. Figure 1. 4 shows that 42% find the location of the business ‘good’ while 6% find the location of the business ‘bad’. 25% find the location ‘excellent’. The reasons are illustrated below: Figure 1. shows that 39% find the location of the business ‘appropriate for the type of business’ while 33% find the location ‘out of the way’. Hence, this explains why the highest level of preference is ‘3-good’. Figure 1. 6. Indicates that majority of the sample market expect a turn up of ‘150-300’ customers in the first year. Figure 1. 7. Shows that Economic factors will affects the business the most. Competition in the market will least affect the business. Figure 1. 8. Shows that income inequality will be the most detrimental factor for the business, followed by unemployment, economic recession and then inflation.

Figure 1. 9 shows the demand for various extreme sports. Skydiving and mountain climbing have the highest demand. Bungee jumping and water sports have a lower demand. Figure 2. 1. Indicates that unemployment rate has increased at an increasing rate from 2007 onwards. After 2008, the unemployment rate grows at a decreasing rate. This is a major factor affecting our business. Figure 2. 2 shows that income inequality (measured using HDI) has been on an upward trend since 2005. After 2008, the HDI has gradually decreased and this could be a positive signal for the business. Figure 2. 3.

Shows that the projected market share for the business will rise at an increasing rate. This indicates the chances of the business growth and expansion in the market, is high. The expected number of competitors determined the market share over the years, depending on the profits and the return on investment in the business. RE – ASSESSING THE VIABILITY OF THE BUSINESS POSITIVE COMMENTS: ?A new and unique business: Most of our potential clients believed that our business is very interesting, exciting and unique as opposed to other recreational businesses. There is a chance for survival with this business. Location for the on-premises activities: There are several activities that we are offering on location. The location of the business, as mentioned earlier, is in Karen along Karen road. Even though it seems inconvenient to our potential customers, the surveys indicated otherwise. People actually find the location for the business appropriate and acceptable. ?Diversifying: With a business such as extreme sports, that has rarely been explored, the idea is to spread the risk. Therefore, besides offering extreme sports on the premises, we are sports agents, also offering extreme sports packages. Prices for the products are reasonable: Another surprising result of the survey are the prices. Many of the people in the market find the prices reasonable for the nature of the products being offered. NEGATIVE COMMENTS: ?Uncertainty with the location for extreme sports packages: There were a lot of questions that were raised conc

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Example of Clothing Business Plan

Customers will not need to be doubtful and unfulfilled after they bought our product. The target market for our product Is concentrated on gender. Besides, we will distribute the other special accessories, such as, sunglasses, purses and wallets, and fancy. Product We have investigated the cloth quality and fashionable design in our factory in Singapore. We will use cotton, which can be adjustable with Manner weather, In our clothing. Furthermore, we build the factory and some warehouses In china and the products are separated into many categories _ tops, pants, jackets and coats and others.

First, we focused on ladies apparel and accessories such as shoes, bags, belts, scarves and hats. Then, we decided to expand Into men wears. We are now starting to introduce our products to market In Manner, New trends are always available at our organization for the people who are really into fashion. Benefits We know that all the people want the excellent brand hallmark and the best standard with the best possible price. We have usually coordinated in price and quality effectively that can bring satisfaction to the customers. You can see our new collection for summer, rainy, and winter seasons. Have planned to retail and open stores in some urban areas so that consumers can easily get our goods from their surrounding shopping mall and markets. We are offering diverse categories for both male and female, so both of these customers can obtain their needs from one place -our brand. ” And a lot of people will be delighted with our products. People who pay for our brand will get the feeling of confident, stylish, and smart. Target market We orientate the customers who want to be fabulous and gorgeous. We segment and classify the markets into demographics, geographic, cryptographic and behavior.

We alma at the adults and youths market Generation Y, Generation X and late teens. And they are our core markets. Every religion and ethnic backgrounds can wear our clothing. Our brand will suit with people who are interested In newly fashion designed clothing because we made our products beautifully. And, we have option for clothing expenditures that how much money the customers will spend on the branding product, on average. If you would choose this brand, you’ll never feel unsatisfied and insecure. You can have a delightful lifestyle.

Everyone wont look down upon you when you’re wearing them. You will feel like very secure. They can bring pleasure to you. In addition, we have been chosen the most suitable clothing style for Manner culture which are simple, but Interesting and attracted to people. The chosen collections will be right with Manner customs tastes. To consider about 1 OFF regions. Then, we point out not only the cities of Yang and Mandalay but also the range of some well-known supermarkets and shopping mall. We also make a certain decision for the weather conditions of Manner and our selective areas.

Generally, we are sure that Manner has the finest weather and the climate is not very cold imparted with other countries. That’s why we negotiate and make a decision that we’ll share the most convenient and attractive clothes with our Manner customers. Head Office location Address: Morton shopping mall contact no. : +951501509 Contact mail precious. sg@gmail. Com, precious. sg@hotmail. Com Customer buying behavior Customers can look around many brands. They’ll have many choices, however when they compare with our brand, they will be persuaded and motivated to buy our products.

Although the consumers are passion about it, they will see the quality, color, design and prices. And, it is also crucial that we get the right place. All the people might believe that the items at the shopping malls have security so that they are more willing to buy it. Therefore, we sell our products in better supermarket to attract customer behavior. Consumers make a decision at the shopping centre but it will take some efforts and time to decide carefully. Customer might use and look into the Yellow pages, internet, Journals or magazines. So, the data and information put into these papers, but not in details.

They can also have a look through our own web page. Unpropitious. Com. So Our staff will be always on line and we update the data all the times, so you don’t have to worry about the fashion is not up-to-date. Product Strategies Product classification Our product can be accepted as shopping goods because people usually compare price, quality and style when they buy the clothes. Distribution channels and promotional strategies shaped on our products and on the customers. We appointed with retailers to sale large quantities. Product life cycle stage The PC stage is also influenced on our products.

We are going to think about the refits and we always need to aware that our price is affordable or not, and we are trying to get knowledge about our competitors’ fashion trend and the situation of the other markets. Product mix or Product line We have some kinds of sizes for male and female individually. They are small, medium and large for female and S, M, L, XSL, and XSL for male. There are several colors for both male and female. Many sorts of types can be obtained. We are giving services, like online shopping and delivery. These are all the items for female: Tops- fashion tops, shirts and tees

Jackets and coats- Jackets and coats, vests Skirts Pants Shorts Dresses Other accessories The following items are for male customers: Shirts Jackets and coats Suits Shoes- shoes and socks Brand The name “PRECIOUS “indicates to our product. “This logo will represent our brand. We give the slogan as “if you want to be stylish, wear “PRECIOUS”. Branding strategy We define the producer’s own brands as branding strategy owing to our product’s field, the financial background, and the management. Our product field is large, we are well financed, and well managed for our product lines. Packaging We don’t have special packaging styles or methods.

We Just package well to look good and perfect. Distribution Strategies Channel Choice We will use both Direct and Indirect Distribution Channels. In direct distribution channel, we will distribute our product directly to ultimate consumers. We Just use our own sales or perhaps telemarketing or online selling directly to consumers. We will perform as manufacturers. In indirect distribution channel, we will distribute our products through retailers such as supermarkets and stores to consumers. And we also use middlemen. Middlemen are important because t is usually not practical for a producer to deal directly with ultimate consumers.

We need intermediaries mainly for acting as transport and merchandise agent when we export our products to other places such as Nay Payee Dad, Mandalay and on. Pricing Pricing Objectives As we are starting our business, we prefer to have Sales Oriented Goals. We might not look to maximize profit but rather to set a price aimed at increasing sale volume. Price Elasticity As clothing is not only shopping good but also psychogenic need, consumers will usually compare price, quality and style and also buying habits affect distribution ND promotion, But the price will be elastic.

The price will be change when increasing demand. Market Entry Strategies We will enter the market with by using Market Skimming Pricing Strategy. Because our product is setting a relatively high initial price as our target market is for elite customers. By using this strategy it can help to establish a high-quality image for our new product and provides the firm with pricing flexibility. Another point of view why our product is suitable for that strategy the reasons for that are our product is in the early stages of life cycle and our new product is distinctive.

Product cost When we setting up the price. There are two types of cost, variable and fixed. Wages and salaries, tax and insurance, machinery costs and vehicles and equipments are Price Setting Methods We will use Cost-plus pricing method. (Total cost *desire profit) is also call mark up pricing. Evaluation of cost-plus pricing (Budgeted) Planned?II Cost, Selling price, Profit Budgeted Labor and material costs per cloth $20 Overhead (fixed cost) $25 Total cost per unit = $45 According to the calculation budgeted selling price per unit = $45+$4. 5 = $49. 5 per unit Break-even analysis

It is important to meet break-even point for our company otherwise we can’t make profit and also can’t imagine for the good will of our company. We wish to find out how many units must be sold to cover all cost. So we used Break-even analysis. The equations for Break-even point is Break-even point, in units= Total fixed cost Selling price per unit – average variable cost per unit ($) Promotion strategies We will always inform and remind about our ultimate goods to our usual customers and the other new customers. We’ll apply the advertising method and sale promotion method to publicize.

We’ll use 10% of annual profit for our product’s promotion. Advertising We’ll not use the broadcasting through TV channels. At first, we’ll print in the famous magazines and Journals to recognize by the public easily. Then, we’ll emphasize on the outdoors advertisements _ billboards and bus sides so that a lot of people will notice our product now and then. Sale promotion We have prepared some contests to become familiar with some business people and consumers. We’ll put more stress on trade shows and in-store displays. We have hired the ball room in Traders hotel (Yang) and Sedona hotel (Mandalay) to make our first trade show in Manner.

And, we have well organized to start our trade show. After that, we are going to display our latest fashion designed clothes in some big department stores. We also get ready to allow for the member cards if you become our loyalty customer. We have gold, silver and platinum cards for our customers. You will see amazing rewards when you come to our ” “. You can do members at our” ” web page. If you got a profile in our websites, you can see and shop our recent items on line. We make the offering 10% off. You’ll see our astonished plus offers and rewards.

SOOT Analysis Strengths Well design, best quality and we also use tight quality control strategies. Therefore, our products have better quality than any other competitors. Legally import from china. Well packing to avoid damage by transportations. Only sell qualified products there is no damage items. Weakness Selling price may b a bit problem for ordinary class customers because of our product’s target market is for elite customers. Distribution direct from manufacturers company is newly established. As we are in introduction stage, the awareness of people about our brand may be smaller even though our product is nice.

We need lots of promotional strategies than other existing competitors to penetrate the market. Opportunities We allow some opportunities for our customers and also authorized agent too. If a customer buys goods for 200,asks within a month we give him/her 5%discount card up to two years. For authorized agent if their revenues touch the focus target we allow them to get feedback 5% of their revenues as bonuses for them and also free trips to China. Threats One biggest threat for our product is that there are lots of famous competitors.

Delay transportation, for example, when we import out products from China by ship if the weather is terrible our stocks will be delay. We have to sell our products according to the weather if our stocks are delayed we can’t sell these delay product on that time. If we are going to sell those products in coming season it is sure that our products are not up to date. Another one is inflation because of that the value of Manner Stay became low so when exchanging money fluctuation is threat for us. Action Plan We will provide our customers with the best quality products.

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Travel Agent Service – Business Plan

business. gov. au Business Plan Guide Prepared: December 2009 Table of Contents Preparing yourself4 Analyse your business idea4 Analyse yourself4 Business planning5 Regular review5 Distributing & protecting your plan5 Advice and support6 Attending business events6 Taking on a mentor or business coach6 Using the Template7 Template overview8 Title page8 Business Plan Summary9 The Business12 The Market21 The Future24 The Finances25 Supporting documentation31 Glossary32 [pic] This Business Plan Guide and the accompanying Business Plan Template have been developed by business. ov. au, the Australian Government’s principal business resource, located within the Department of Innovation, Industry, Science and Research. Copies of the latest version of this guide and the template can be downloaded from www. business. gov. au/businessplan. If you need further information, assistance or referral about a small business issue, please contact the Small Business Support Line on 1800 77 7275. Preparing yourself Before you start writing your business plan, you should honestly evaluate yourself and decide if your business idea has a good chance of success.

Analysis can help you anticipate any challenges you may face and help you overcome them. Analyse your business idea Is your idea feasible? Before you get started, find out if there is a demand for your products or services. It’s also useful to find out who your competitors are and whether the market can sustain your business. Researching all aspects of your business idea will involve gathering, analysing and evaluating information to help you write your business goals. Some questions to consider are: • What product/service will you provide? • Is your idea viable? • How will you protect your ideas? Is there a market for your product/service? • What skills do you need? • Who are your competitors? • What difference will you bring to the market? • Do you have the financial capacity to start a business? Analyse yourself Are you ready to venture into business? Operating a small business is not just about working for yourself, it’s also about having the necessary management skills, industry expertise, technical skills, finance and of course a long-term vision to grow and succeed. At the outset it’s important to consider whether you really understand what’s involved and whether you’re suited to business and self employment.

Examine these questions: • Why are you starting a business? • What are your business and personal goals? • What are your skills? • What income do you need to generate? • What are the advantages and disadvantages of starting your own business? Business planning Once you’ve conducted research into the feasibility of your new business you’re ready to write your business plan. A business plan provides direction, keeps you on track and is usually a requirement when you seek finance. Depending on your business type, your plan could include the following sections: Business Summary: A one-page overview written after your business plan is finalised. ? About your business: This is typically called the management plan or operations plan. It covers details about your business including structure, registrations, location and premises, staff, and products/services. ? About your market: This is the marketing plan. It should outline your marketing analysis of the industry you are entering, your customers and your competitors. This section should also cover your key marketing targets and your strategies for delivering on these targets. About your future: This section covers your plans for the future and can include a vision statement, business goals and key business milestones. ? About your finances: The financial plan includes how you’ll finance your business, costing and financial projections. Regular review Business planning is an ongoing business activity. As your business changes many of the strategies in your plan will need to evolve to ensure you business is still heading in the right direction. Having your plan up to date can keep you focussed on where you are heading and ensure you are ready when you need it again.

Distributing & protecting your plan A business plan is a blueprint for how your business will run and reveals what future direction your business will take. Understandably you will want to be careful who you show your plan to and avoid your competition seeing it. Having an understanding with third parties when distributing a plan could be enough protection for some businesses, however others who have innovative business practices or products or services may wish to go further and sign a confidentiality agreement with each person to protect their innovations.

It may also be a good idea to include some words in your plan asking the reader not to disclose the details of your plan. What to do… ? Visit our Confidentiality/Trade secrets page, for more information on confidentiality agreements. ? For detailed information on Intellectual property protection, visit the IP Australia[pic] website. ? Contact your nearest Business Enterprise Centre[pic] (BEC) for assistance with your business planning process. Advice and support There are a number of government services available to help you plan, start or grow your business.

These services can provide general advice, workshops, seminars and networking events, and can even match you with a mentor or business coach. Attending business events Small business workshops and seminars are run regularly in most areas of Australia, and deal with issues such as planning, financial management, innovation, employing staff and exporting. You may also find it useful to attend networking events to help expand your business. By developing networks, you can keep up-to-date on industry and local information, promote your business through new contacts and learn key skills from other businesses.

Taking on a mentor or business coach Participating in mentoring or coaching programs can help you develop a greater understanding of business processes and practices, and equip you with the skills you need to grow and improve your business. What to do… ? Contact your nearest Business Enterprise Centre[pic] (BEC) for assistance with your business planning process. ? Check if your local BEC or state business agency hosts a business planning workshop near you. ? Contact an Enterprise Connect[pic] centre for help with planning, growing, skills development, competitiveness and productivity. Search for networking, mentoring or training events and seminars on the business. gov. au Events calendar. ? Contact a business adviser, accountant or solicitor for advice. Using the Template Before you complete the business plan template and start using it, consider the following: 1. Do your research. You will need to make quite a few decisions about your business including structure, marketing strategies and finances before you can complete the template. By having the right information to hand you also can be more accurate in your forecasts and analysis. 2. Determine who the plan is for.

Does it have more than one purpose? Will it be used internally or will third parties be involved? Deciding the purpose of the plan can help you target your answers. If third parties are involved, what are they interested in? Although don’t assume they are just interested in the finance part of your business. They will be looking for the whole package. 3. Do not attempt to fill in the template from start to finish. First decide which sections are relevant for your business and set aside the sections that don’t apply. You can always go back to the other sections later. . Use the [italicised text]. The italicised text is there to help guide you by providing some more detailed questions you may like to answer when preparing your response. Please note: If a question does not apply to your circumstances it can be ignored. 5. Get some help. If you aren’t confident in completing the plan yourself, you can enlist the help of a professional (i. e. Enterprise Connect Centre, Business Enterprise Centre, business adviser, or accountant) to look through your plan and provide you with advice. 6. Actual vs. expected figures.

Existing businesses can include actual figures in the plan, but if your business is just starting out and you are using expected figures for turnover and finances you will need to clearly show that these are expected figures or estimates. 7. Write your summary last. Use as few words as possible. You want to get to the point but not overlook important facts. This is also your opportunity to sell yourself. But don’t overdo it. You want prospective banks, investors, partners or wholesalers to be able to quickly read your plan, find it realistic and be motivated by what they read. 8. Review. Review. Review.

Your business plan is there to make a good impression. Errors will only detract from your professional image. So ask a number of impartial people to proofread your final plan. Template overview Title page |Question |Explanation |More information | |Insert your business logo |Adding a logo helps give your business a more professional image. If you are just starting out and do not have a | | | |logo, you can remove this section. | |Your name |Enter the business owner’s name. Enter multiple names if there are multiple owners. | | |Your title |The titles of the business owner(s) listed above. E. g. Owner/Manager | | |Business name |Enter your business name as registered in your state/territory.

If you have not registered your business name, add |Visit our Register your business name page. | | |your proposed business name | | |Main business address |Enter your main business address. This can be your home address if you are a home-based business or your head | | | |office if you have more than one location. | |ABN |Enter your Australian Business Number. If you are a business and have registered for an ABN enter it here. |Visit our Register for an Australian Business Number | | | |(ABN) page. | |ACN |Enter your Australian Company Number. Only fill this in if you are a company. |Visit our Register your company page. | |Prepared |The date you finished preparing your business plan. | |Table of Contents |If you have changed this template in any way, please remember to update the table of contents to reflect the | | | |changes.. | | Business Plan Summary Your business summary should be no longer than a page and should focus on why your business is going to be successful.

Your answers should briefly summarise your more detailed answers provided throughout the body of your plan. |Question |Explanation |More information | |The Business | |Business name |Enter your business name as registered in your state/territory. If you have not registered your business name, add |Visit our Register your business name page. | | |your proposed business name. | |Business structure |Is your business a sole trader, partnership, trust or company? |Visit our Which business structure should I choose? | | | |page. | |ABN |Enter your Australian Business Number (ABN). If you are a business and have registered for an ABN enter it here. Visit our Register for an Australian Business Number | | | |(ABN) page. | |ACN |Enter your Australian Company Number (ACN). Only fill this in if you are a company. |Visit our Register your company page. | |Business location |Enter your main business location. Briefly describe the location and space occupied/required. | | |Date established |The date you started trading.

Whether it was the date you opened your doors or the date your purchased business | | | |opened its doors. | | |Business owner(s) |List the names of all business owners. | | |Relevant owner experience |Briefly outline your experience and/or years in the industry and any major achievements/awards. |Visit our Am I ready? age. | | |Keep this brief and try to include only your relevant experience and main achievements. You will have an | | | |opportunity to go into more detail under the Management & ownership section. | | |Products/services |What products/services are you selling? What is the anticipated demand for your products/services?

These answers | | | |should briefly summarise your answers under the main products/services section. | | |The Market | |Target market |Who are you selling to? Why would they buy your products/services over others? Visit our Researching your market page. | | |This answer should briefly summarise your answers under the main Market section. | | |Marketing strategy |How do you plan to enter the market? How do you intend to attract customers? How and why will this work? |Visit our How do I promote my business? page. | | |This answer should briefly summarise your answers under the main Market section. | |The Future | |Vision statement |The vision statement briefly outlines your future plan for the business. It should state clearly what your overall | | | |goals for the business are. | | |Goals/objectives |What are your short & long term goals?

What activities will you undertake to meet them? | | |The Finances | |The finances |Briefly outline how much profit you intend on making in a particular timeframe. How much money will you need |Visit our How do I manage my finances? page. | | |up-front? Where will you obtain these funds?

What portion will you be seeking from other sources? How much of your | | | |own money are you contributing towards the business? | | | |Your answers can be quite brief in the summary. They should give the reader a quick idea of your current financial | | | |position. Where you are heading financially and how much you need to get there.

You can provide more detail in the | | | |main Finances section. | | The Business |Question |Explanation |More information | |Business details | |Business purpose |What is the main business purpose? What does it sell? | |Business size |Number of employees? Estimated/actual annual turnover? | | |Operating history |What is the business background? How long has the business been operating? What is your progress to date? | | |Registration details | |Business name |Enter your business name as registered in your state/territory.

If you have not registered your business name, add |Visit our Register your business name page. | | |your proposed business name | | |Trading name(s) |Enter your registered trading name or names. Your trading name is the name you will use to trade under. It is the |Visit our How do I choose a business name? age. | | |name that appears on your marketing and advertising material. If you have multiple trading names, list them and | | | |explain the purpose of each name. | | |Date registered |The date that appears on your business name registration. | |Location(s) registered |Enter the state(s) you have registered your business name. If your business is located in more than one state, you |Visit our Register your business name page. | | |will need to register your business name in each state. | | |Business structure |Is your business a sole trader, partnership, trust or company? |Visit our Which business structure should I choose? | | |page. | |ABN |If you have registered an Australian Business Number (ABN), then enter it here. |Visit our Register for an Australian Business Number | | | |(ABN) page. | |ACN |Enter your Australian Company Number (ACN). Fill this in if you are a registered company. |Visit our Register your company page. |GST |If you are registered for Goods and Services Tax (GST), then enter the date you registered with the Tax office. |Visit our Register for Goods & Services Tax (GST) | | | |page. | |Domain names |If you are planning on setting up a website for your business, you may also like to register a domain name to match|Visit our Register your domain name page. | |your registered business name. List any domain names you have registered and plan to use in the business. | | |Licences & permits |List all the licences or permits you have registered. These will vary depending on your type of business and |Visit our Licences & permits page. | | |location. Some examples include a tradesperson certificate, travel agents licence, or kerbside cafe permit. | |Business premises | |Business location |Enter your main business location. Describe the location and space occupied/required. What is the size of the space| | | |you occupy/require? Which city or town? Where in relation to landmarks/main areas?

If you have a retail business, | | | |where are you located in relation to other shops? What is the retail traffic like? | | |Buy/lease |If you have purchased a business premises or are currently leasing, briefly outline the arrangements. These can |Visit our Buy or lease a business premises page. | | |include purchase price, length of the lease agreement, rental cost or lease terms. | | |If you are still looking for a lease or property, outline your commercial lease or purchase requirements and any | | | |utilities/facilities required. | | |Organisation chart | |Figure 1: Organisation chart |The organisation chart is a quick way of representing your business structure.

If you are still recruiting staff, | | | |you may wish to include a proposed structure and label it appropriately. I. e. you could add ‘Vacant’ to the | | | |positions that are currently vacant or you could label the whole chart as a ‘Proposed Organisation Chart’. | |Management & ownership | |Names of owners |List the names of all business owners. | | |Details of management & ownership |As the owner(s), will you be running the business or will a Chief Executive Officer (CEO) be running the business | | | |on your behalf?

What will be your involvement? If it is a partnership, briefly outline for each partner their | | | |percentage share, role in the business, the strengths of each partner and whether you have a partnership | | | |agreement/contract in place? | |Experience |What experience do the business owner(s) have? Why should people invest in you? How many years have you owned or | | | |run a business? List any previous businesses owned/managed. List any major achievements/awards. What other relevant| | | |experience do you have?

Don’t forget to attach your resume(s) to the back of your plan. | | |Key personnel | |Current staff table |List your current staff in the table provided. Outline each job title, name of the employee in the position, the |Visit our Employing people topic. | |expected staff turnover for the position and each employee’s relevant skills or strengths. You may also like to | | | |attach a copy of their resume to the back of your plan. | | |Required staff table |List your required staff in the table provided. These are current vacant positions.

Outline each job title, |Visit our Recruitment page. | | |quantity of each type of position, the expected staff turnover for the position, the required skills or strengths | | | |needed and the date you require this position to be filled. | | |Recruitment options |How do you intend on obtaining your required staff?

Advertising in the local paper, online advertising, and/or |Visit our Recruitment page. | | |training current staff members? | | |Training programs |Are there any training programs you will be organising in the event you cannot find the required skills? Are these |Visit our Skills development & training page. | | |in-house or external providers?

What training will you as the business owner/manager undertake to keep your skills | | | |current? | | |Skill retention strategies |What procedural documentation will you provide to ensure the skills of staff are maintained? Do you have an |Visit our Skills development & training page. | |appropriate allocation of responsibilities? How are responsibilities documented and communicated to staff? What | | | |internal processes will you implement to regularly check that the current skills of staff members are still | | | |appropriate for the business? | |Product/services | |Product/services table |List each product/service your business currently offers. Provide a description and unit price (including GST) | | | |amount for each. | | |Market position |Where do your products/services fit in the market?

Are they high-end, competitive or a low cost alternative to the | | | |products/services offered by your competitors? How does this compare to your competitors? | | |Unique selling position |How will your products/services succeed in the market where others may have failed? What gives your | | | |products/services the edge? | |Anticipated demand |What is the anticipated quantity of products/services your customers are likely to purchase? For example, how much | | | |will an individual customer buy in 6 months or 12 months? | | |Pricing strategy |Do you have a particular pricing strategy? Why have you chosen this strategy? Visit our Fair trading laws page for your state fair | | |To help you develop your pricing strategy, you could refer to your customer research, market position, anticipated |trading office contact details. | | |demand and costs/expenses to get an idea. | | | |Whatever strategy you use when setting your price, you will also need to adhere to any relevant fair trading | | |legislation or codes of conduct. | | |Value to customer |How do your customers value your products/services? Are they a necessity, luxury or something in between? | | |Growth potential |What is the anticipated percentage growth of the product in the future? What will drive this growth? | | |To help you determine this growth potential, you could refer to your region/industry research to get an idea of any| | | |industry/regional growth that could affect your business in a positive way. | | |Innovation | |Research & development (R&D)/ innovation |What R&D activities will you implement to encourage innovation in your business?

What financial and/or staff |Visit our How do I make my business more innovative? | |activities |resources will you allocate? |page. | |Intellectual property strategy |How do you plan to protect your innovations? List any current trade marks, patents, designs you have registered. Do|See the IP Australia website[pic] for information on | | |you have confidentiality agreements in place? |protecting your innovations. | |Protecting your innovations can include registering for intellectual property protection, ensuring your staff sign | | | |a confidentiality agreement, and generally ensuring your competition does not find out what you are developing. | | |Insurance | |Workers compensation |Provide details if you have workers compensation insurance?

This is mandatory if you have employees. |Visit our People insurance page. | |Public liability insurance |Provide details if you have public liability insurance? This covers any third party death or injury. |Visit our Liability insurance page. | |Professional indemnity |Provide details if you have professional indemnity insurance? This covers any legal action taken out as a result of|Visit our Liability insurance page. | | |your professional advice. | |Product liability |Provide details if you have product liability insurance? This covers any legal action taken out as a result of |Visit our Liability insurance page. | | |injury, damage or death from your product. | | |Business assets |Provide details if you have insured your business assets in the event of a fire, burglary, or damage?

This |Visit our Assets & revenue insurance page. | | |insurance covers things like buildings, contents and motor vehicles. | | |Business revenue |Provide details if you have insured your business in the event of business interruption where you cannot trade |Visit our Assets & revenue insurance page. | | |because of a particular event and are unable to make money? | |Risk management | |Risk management table |List the potential risks (in order of likelihood) that could impact your business. |Visit our Risk management page. | | |For each risk, detail the following in the table provided: | | | |A escription of the risk and the potential impact to your business. | | | |The likelihood of this risk happening – either highly unlikely, unlikely, likely, or highly likely. | | | |The level of impact it may have on your business – high, medium or low. | | |Your strategies for minimising/mitigating each potential risk. | | |Legal considerations | |Legal considerations |List the legislation which will have some impact on the running of your business. For example: consumer law, |Visit our What are the legal requirements?

Page. | | |business law, or specific legislation to your industry. | | | |List the legislation in order of the most impact on your business. You should also detail what you will do or have |Visit the Australian Securities & Investments | | |already done to ensure you comply. |Commission Financial services[pic] page. | |For example if you are in the financial services industry and you provide financial advice to your customers, you | | | |should include the Corporations Act 2001 and your AFS licence details (if registered already). You may also like to| | | |include details about your disclosure and general obligations. | |Operations | |Production process |What is the process involved in producing your products/services. This process will vary depending on your | | | |product/service. Here are some examples of questions you may consider.

Is there a manufacturing process? Who is | | | |involved in the process? Are there any third parties involved? What is involved in delivering the service to your | | | |customers? | | |Suppliers |Who are your main suppliers?

What do they supply to your business? How will you maintain a good relationship with | | | |them? | | |Plant and equipment table |List your current plant and equipment purchases. These can include vehicles, computer equipment, phones and fax | | | |machines.

For each item include the equipment name, purchase date, purchase price and running cost. | | | |If you have not purchased all of your equipment yet, you can include a separate table and include an expected | | | |purchase date. | | |Inventory table |List your current inventory items in the table supplied.

You can include inventory item name, unit price, quantity | | | |in stock and the total cost (i. e. unit price multiplied by quantity in stock). | | | |If you have a substantial inventory, you may prefer to attach a full inventory list to the back of your business | | | |plan. | |Technology (software) |What technology do you require? For example: website, point of sale software or accounting package? What will be | | | |the main purpose for each? Will they be off-the-shelf or purpose built? What is the estimated cost of each | | | |technology solution? | | |Even though this section focuses on software (as your hardware will be listed above in your plant and equipment | | | |table), for more clarity you may also wish to give a brief description of hardware including servers, specialised | | | |technology and computer equipment required. | |Trading hours |What are your trading hours? What are your expected peak trading times? Which times do you expect to be more | | | |profitable? How will this change over different seasons? How do your trading hours accommodate these changes? | | |Communication channels |How can your customers get in contact with you?

These channels can include: telephone (landline/mobile), post box, | | | |shopfront, email, fax and/or internet blog or social networking website. If you have chosen only a few channels you| | | |may wish to include your strategy behind this. | | |Payment types accepted |What payment types will you accept?

Cash, credit, cheque, gift cards, Paypal etc | | |Credit policy |What is your credit policy for customers/suppliers? How long is the credit period? What are your collection | | | |strategies/procedures? What credit does your business receive? What are the terms? | | |Warranties & refunds |If you manufacture certain goods, what are the warranty terms?

What is your business refund/exchange policy? |Visit our Warranties & refunds page. | |Quality control |Describe your quality control process. What checks or balances do you have in place to ensure the product or |Visit our Product safety & standards page. | | |service you offer is produced to the same standard of quality? What steps do you take to meet product safety | | | |standards? | |Memberships and affiliations |Is your business a member of any particular industry association or club? Do you have any affiliations with any | | | |other organisation? | | |Sustainability plan | |Environmental/ resource impacts |Describe the impact your business could potentially have on the environment. E. g. particular manufacturing |Visit our Environmental auditing page. | | |process produces carbon emissions. | | | |To help you answer this question, you could consider conducting an environmental audit. | | |Community impact and engagement |How does your environmental impact affect the local community? How can you engage the community in minimising your |Visit our Minimising your impact page. | |impact? | | |Risks/constraints |List any risks/constraints to your business resulting from this environmental impact? |Visit our Risk management page. | |Strategies |What strategies will you implement to minimise/mitigate your environmental impact and any risks to your business? |Visit our Environmental auditing page. | | |Will you conduct an environmental audit?

Have you introduced an Environmental management system? |Visit our Environmental management systems page. | |Action plan table |List your key sustainability/environmental milestones in the table provided? Detail each sustainability milestone, | | | |the target you are trying to achieve and when you expect to reach each target. For example: Reducing water | | | |consumption by 60% before 2016. | The Market |Question |Explanation |More information | |Market research |What statistical research have you completed to help you analyse your market? Did you use a survey/questionnaire? |Visit our Researching your market page. | | |If so, you may like to attach a copy of your survey/questionnaire to the back of this plan. | |Market targets |Outline your planned sales targets. What quantity of your products/services do you plan to sell in a planned | | | |timeframe? Are they monthly or yearly targets? For example, you may set yourself a goal of selling 1 000 products | | | |in 12 months. | |Environmental/industry analysis |Detail the results of the market research you have performed. Is the area experiencing population growth? Are there|Visit our Market research & statistics topic. | | |long-term employers in the area? Is the region’s economy stable? Are there seasonal variations? | | | |What is the size of the market? What recent trends have emerged in the market?

What growth potential is available |Visit the Australian Bureau of Statistics National | | |and where do you fit in? How will the market/customers change when you enter the market? |Regional Profile[pic] page. | | |A good place to start when researching your regional profile is the Australian Bureau of Statistics website. The | | | |regional profile information includes economy, population/people, industry and environment/energy statistics. | |Your customers | |Customer demographics |Define who your target customers are and how they behave. You can include age, gender, social status, education and|Download the Social Atlas[pic] and the Social | | |attitudes. |Trends[pic] series from the Australian Bureau of | | | |Statistics website. |Key customers |Identify your key customers. (These can be large consumers of your products or individuals whose satisfaction is | | | |key to the success of your business. ) How will you target your products/service to them? | | |Customer management |How will you maintain a good relationship with your customers? What techniques will you use?

How will you keep your|Visit our Customer service page. Visit our Codes of | | |customers coming back? Have you introduced customer service standards? Do you follow any particular code of |Practice page. | | |practice? | | |S. W. O. T. analysis | |S. W. O. T. nalysis table |List each of your businesses strengths, weaknesses, opportunities or threats in the table supplied and then outline| | | |what you will do about each of the weaknesses/threats. | | |Your competitors | |Your competitors |How do you rate against your competitors? How can your business improve on what they offer? | |Competitor details table |List at least 5 competitors in the table. For each competitor enter: | | | |Competitor: Competitor name | | | |Established date: When were they established? | | |Size: Number of staff and/or turnover | | | |Market share (%): Estimated percentage of market share | | | |Value to customers: Unique value to customers.

Why they would do business with your competitor? For example: | | | |convenience, quality, price or service? | | | |Strengths: What are your competitor’s main strengths? | | | |Weaknesses: What are your competitor’s main weaknesses? | |Advertising & sales | |Advertising and promotional strategy table |What strategies do you have for promoting and advertising your products/services in the next 12 months? |Visit our Marketing & advertising page. | | |For each promotion/advertising: What is the promotion/advertising type (e. g.

Print media advertising, online | | | |advertising, mail-out, giveaway, media release or event) How do you expect it will improve your business success? | | | |What is the cost of each planned activity? When do you expect to complete each activity? | |Sales and marketing objectives |Who makes up your sales team? What sales techniques will they use? What tools/material will they use to help sell |Visit our Marketing & advertising page. | | |your products/services? What sales goals/targets will they meet? | | |Unique selling position |Why do you have an advantage over your competitors?

How will your products/services succeed in the market where | | | |others may have failed? | | |Sales and distribution channels table |For each channel enter: | | | |Channel type: e. . Shopfront, internet, direct mail, export or wholesale | | | |Products/services: List all the products/services sold via this channel | | | |Percentage of sales: What percentage of overall sales do you expect to sell via this channel? | | |Advantages: What advantages are there of using this channel for these products? | | | |Challenges: What challenges do you expect to face using this channel? How will you overcome them? | |

The Future |Question |Explanation |More information | |Vision statement |What is your business’ vision statement? It should briefly outline your future plan for the business and include | | | |your overall goals. | |Mission statement |What is your business’ mission statement I. e. how will you achieve your vision? | | |Goals/objectives |What are your short & long term goals? What activities will you undertake to meet them? | | |Action plan table |What are the business milestones that you need to complete starting from today?

When do you expect to complete | | | |them? Who is responsible for delivering this milestone? | | | |Please note: This table does not include sustainability milestones as they are listed in the sustainability section| | | |above. | The Finances |Question |Explanation |More information | |Key objectives and financial review | |Financial objectives |List your key financial objectives. These can be in the form of sales targets or profit targets.

You could also | | | |list your main financial management goals such as cost reduction targets. | | |Finance required |How much money up-front do you need? Where will you obtain the funds? What portion will you be seeking from loans, | | | |investors, business partners, friends or relatives, venture capital or government funding?

How much of your own | | | |money are you contributing towards the business? | | |Assumptions | |Assumptions |List your financial assumptions. These can include seasonal adjustments, drought, economy or interest rates etc. | |Start-up costs for [YEAR] table |Using the table | | | |The start-up costs table contains a list of suggested costs a typical business may incur in its first year of | | | |operation.

When you double click on the table you can edit these items by removing or adding rows and typing in | | | |your own items. Don’t forget to clearly display your start-up year in the heading. Please note: The table assumes | | | |all figures are GST inclusive. | | |Total formulas | | | |When you add your costs, the table will automatically total your items at the bottom of the sheet. If you are | | | |adding or removing rows please double-check your figures to ensure the total formulas have been preserved. | | |Estimating costs | | | |Whether you have already started or intending to start you will need to fill in Actual or Estimated figures against| | | |the items in the table. If using estimated costs, please label them clearly. | | |Attach your own | | | |If you have your own start-up cost sheet or your accountant has already prepared one, please feel free to remove | | | |the table supplied and attach your own.

If it is a large sheet, you can always attach it to the back of the plan | | | |and reference it from this section. | | |Balance sheet forecast table |Using this table | | | |The balance sheet forecast table contains a list of suggested assets and liabilities a typical business may have. | | |When you double click on the table you can edit these items by removing or adding rows and typing in your own | | | |items. Don’t forget to edit the financial years if required. Please note: The table assumes all figures are GST | | | |inclusive. | | |Total formulas | | | |When you add your figures, the table will automatically calculate your totals and net assets at the bottom of the | | | |sheet.

If you are adding or removing rows please double-check your figures to ensure the calculations have been | | | |preserved. | | | Calculations | | | |Net assets equals | | | | | | | |Total assets minus Total liabilities. | | |Attach your own | | | |If you have your own balance sheet forecast or your accountant has already prepared one, please feel free to remove| | | |the table supplied and attach your own.

If it is a large sheet, you can always attach it to the back of the plan | | | |and reference it from this section. | |Profit and loss forecast table |Using this table | | | |The profit and loss forecast table contains a list of suggested profit items and expenses a typical business may | | | |have.

When you double click on the table you can edit these items by removing or adding rows and typing in your own| | | |items. Don’t forget to edit the financial years if required. Please note: The table assumes all figure

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E-Cigarette shop BUSINESS PLAN

Age Third segmentation is done on the basis of age but we try to target all ages of people whose smoking but mostly will be from the age of 18 to 45, both sexes. Target Marketing Basically same as the above mentioned, age. V-gigs are non-flammable electronic atomizing devices that look like, feel like, and taste like a real cigarette and perform the same pleasure of smoking a traditional cigarette by giving nicotine in your body, which smokers crave but without the harmful effects of a traditional cigarette.

Smokers enjoy a dose of vaporized liquid cootie solution and exhale water vapor that resembles a puff of smoke, providing a physical sensation and flavor akin to inhaled tobacco smoke. An electronic cigarette generally consists of three main components: a cartridge/mouthpiece, atomized (heating element), and battery. The cartridge acts as an e-liquid reservoir and also serves as a mouthpiece on one end AND contain nicotine, water and propylene glycol, an ingredient commonly found in items such as food coloring. By fulfilling ones nicotine requirement and giving and giving the same hit as smoking one can gradually quit smoking altogether.

Researchers expect traditional cigarette smoking to cause 1 billion deaths during the 21st century through cardiac and lung disease. Electronic cigarettes have been marketed in recent years as a safer habit for smokers. When a user inhales through the mouthpiece, an air flow sensor activates the atomized which heats up the e-liquid inside the cartridge and converts it into smoke- like vapor that a user inhales. Electronic cigarettes can either come with an automatic or manual battery. For an e-cigarette with an automatic battery you simply inhale through the device to start smoking or vamping.

On the other hand, a manual battery features a button that you press while inhaling. The button is a good feature to have since it lets you have better control on your draw time, allowing you to take longer drags. You can, for instance, press the button a few seconds longer before inhaling to pre-heat the e-liquid and produce warmer vapor and a stronger throat hit. At first, the button may seem awkward to beginners, but it only takes 5 minutes to get the hang of. What is E-liquid as you can see the picture above? E-liquids are available in differing nicotine concentrations, ranging from zero nicotine o high.

Nicotine-containing e-liquids consist of liquid pharmacy grade nicotine, water, natural and artificial flavorings, and propylene glycol (PIG) or vegetable glycerin (VGA). Both PIG and VGA are common food additives and “are generally recognized as safe” for use by the FDA. E-liquids are available in various flavors, such as red bull, mint, mocha, mango and so much more. Here are the benefits of V-gigs: V-gigs comes in a charismatic drop top box which caught people’s eye at the first glance. Its presentation represents the natural and full flavored taste of its e- cigarettes. V-gigs pays heed to every minute detail of the kit.

Be it the natural presentation or the Membership card which comes with it as a proof that you are a proud owner of one of V-gigs kits. V-CGI offers a range of stylish and classy carry cases which are available in black, white and gold colors for a sparkling look, carrying cases covered with crystals of the same colors are available at a little bit higher range. You can also share the awesome experience of V-gigs by use of rubber tips which can be bought easily. For smokers who don’t mind spending a little more for the best experience of e-cigarettes, V-gigs is the perfect brand to go for.

PRICING Our company pricing objectives will be profit minimization and our pricing strategies as we are new products, we’ll be focusing to skim the market with high price because our target customer will be smokers and they will eventually do anything despite the pricing factor to quit smoking. The complete starter kits will be price at $190 Starter kit includes: 1 battery 1 USB Charger 1 cartridges EX. 1 ego case (L size) 1 ml e-liquids of your choice Our company will be at Wants Major a small retail shop there which is on the opposite of Wants Walk Mall.

For the distribution of our product it mainly refers to the agency holders of a particular company who acts as the company representative in the market and supplies the product to different selling points in the markets. It is said to be most important module in the distribution channel of Cigarette as on the other hand they are representing company in the market an on the other hand they are involved in promotional activities of the product due to restriction on advertising and promotion of the Cigarette using media types.

The distributors of pour product will be available in almost all urban cities city and other important areas of the market to increase the availability of the brand in the market and complete against each other. We as the distributor will implement the Intensive Distribution strategy. We’re going to distribute through as many channel types & channel members as possible. To make V-gigs as widely available as company sees fit. If you can see below, we will use the multi-channel distribution for our company. ADVERTISING V-gigs marketing is not designed to “sell smoking”.

It is marketing in a long established mature product category where, where people already know what the basic product is. There will be no commercial sense in trying to market to informed consumers who do not want the product. Its advertising is about its brand. As a new brand we are also sensitive to local customs and cultures. We will be working with other companies in the tobacco industries to establish a common basis for clearly understood conduct which would set the baseline for acceptable tobacco marketing worldwide. Below is the sample of our company’s line.

We’re using careful promotions, because we have to tread a very careful line when promoting e-cigarettes. We make no claims other than to say it is an alternative. The way that message is portrayed differs but consumers are getting it very quickly. We’re going to use the, Social marketing This concept was basically launched in the market to get the customer attention by cigarettes which are bad for health and human body. By this way, we can position ourselves as the well-wishers of the society but the main aim is to tell the customers that this electronic cigarette is also in the market.

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Business plan for online art gallery

Table of contents

Introduction

The development of internet business has taken the world by storm and art business is no different. Today all most all the established galleries of past have adopted to this new medium and new ventures are mushrooming across world almost everyday. Internet has specifically opened the art industry as two of the major barriers are removed – distance and limitation of choices.

Previously if somebody has to buy something unique they have to travel to the place where that specific art is nurtured and secondly there was limitation of choices as scanning through a lot choices use to take lot of time and traveling expenses. Now if you like to purchase an Egyptian painting you are not restricted by choices nor have to go to Egypt to get the best in the world.

The growing level of prosperity in the western countries has also given a fillip to the art industry across the world, as more and more people today can afford a collection of their choice. In an organized exhibition by the Art Dealers Association of America (ADAA) in New York, more than 10000 people (Vanessa Silberman, 2001) flock around seeing and buying paintings, drawing, prints, sculptures and photographs by artists of almost all periods.

Online Art Gallery Business Model

The art gallery is focusing on three core areas – education, open and vibrant platform for artists and a personalized solution one-stop shop for business and real estate clients.

Education

Education is one of the booming sectors of the economy. People today are spending more on their kids’ education than ever before. The school and colleges are slow to react with the change in technology and still follows rudimentary method of teaching art and culture. Most of the schools either don’t have relevant material or even if they have it is in form of old pictures. The gallery will try to develop the material as per the subject requirements. So the schools and colleges can ask for development of material and can buy outright for school purpose.

The second revenue model is that by digitalizing the art collection, it can be sold to each student as aid to subject curriculum. This model will help in first generating the revenue and secondly it will expose students to company’s products at a very early age.

Platform for young artists

Most artists look for avenues on internet to sell their products. Not every artist has his personal website as driving traffic to customers is one of the challenges of new marketing. The website will provide a ready platform for young artists and will help in selling their crafts. The selling model will vary as per the contract between gallery and artist. So the artwork can be sold at a fixed price on which the gallery will earn commission from the artist. The other method will be asking for bids for a particular artwork and the revenue model for the gallery will be same, commission will be charged from the artist.

Additionally the artwork like photographs of a current event will be shared with the latest media agencies across the world and a royalty will be charged as per the number of uses.

Personalized paintings and artwork

The housing industry is growing at unprecedented rates in the last few years. The demand for new houses are growing with increasing level of prosperity in the western markets and graying of baby boomers that are looking for comfortable and classy homes away from the normal bustling and noisy city life. The company will focus on such clients to provide them customized art solutions for their homes.

The success probability is high as baby boomers generally are very technology savvy plus it will be a transition for the company from an artwork seller to a company which makes helps people to make their home beautiful. The revenue model will be healthy as people will freely spend their saved money to decorate their last possible home of their lives.

Marketing plan

As we have already defined our three core markets, which will bring the most the revenue for the company. We can safely build our marketing plans targeting these groups of people.

Education solution

It is a classic case, where customers are different from consumers. The schools and colleges will be the customers of the artwork while the students will be consumers. To target this market, the most efficient way is to employ personal selling.

  • Efficient Personal sellers will be hired to focus the schools and colleges region wise and try to sell the products through product demonstrations.
  • The gallery will take initiatives to conduct workshops and art exhibition in schools to increase the awareness level of art and culture in schools and colleges. This will also help in projecting the company as an institute that cares for nation’s art and culture.
  • The company will sponsor various college festivals and organize various competitions to give an opportunity to talented students. Scholarships and financial benefits will go a long way in grooming kids on their way to make them better artists.

Increasing awareness will provide initiatives to younger people to join the company’s platform for young artists section.

Platform for young artists

The company will try to attract a healthy pool of young and talented artists who are willing to display their products on the website. The revenue generated by sale of the artwork will shared according to the contract between the company and artist.

To attract young talent the company will:

  • Advertise in the cultural magazines and employment magazines.
  • Advertising on Internet –   To advertise on internet efficiently the company will focus on four core ways (Heather Conary, 2006) .
    • Traditional Banner advertising with other websites. Its one of the earliest form of advertising on internet displaying a fixed message on particular spots. The company will try to advertise on all the cultural websites, employment websites etc.
    • Pay per click contextual advertising – as a large pool of artists keep looking for opportunities to display their work on internet, the company will target them through contextual banner advertising (Keyword specific advertising) on various search engines and relevant sites.
    • Peer to Peer Network – As the artists’ community is reasonably close in the particular regions the company will try to establish a peer network system which will help in building affiliation and earn additional revenue for the artists.

Promotions to prosperous customers

As explained earlier in the paper, the company will zero upon the booming housing sector and baby boomers that are making their post retirement homes. The company will provide customized solution to each house hold. To grow this sector of business –

Target the customers that are buying society or community houses, the company will focus on real estate developers these projects and try to sell to them how intelligent use of artwork can help them in fetching a good price. Personal selling will be used to get more people on board.

Secondly the customers who are making their own homes, the company will advertise in home development magazines like Essence, Home and Garden, Country Living, Crafts ‘n’ Things etc.

Direct Mailing – The potential customers will be sent direct mail regarding the products of the company, with information explaining how they can get the customized artwork for their dream homes.

Affiliate Program – The Company will make an affiliate program with other websites on internet. The program will be broadly based on the present affiliate program run by amazon.com. Under the affiliate programs the webmasters displaying art company’s products will be paid a commission on the sale of the products. This Advertising policy will achieve two benefits – first will increase the display of the products and secondly with increasing links on the internet it will help the company in securing a higher ranking at search engine.

Marketing Strategy

To be successful, the gallery must provide an engaging, enjoyable experience with great products so that the customers will come back and recommend the website to their friends. The company will divide the year into various seasons and try to divide the advertising budget accordingly. The four major seasons are –

Christmas and New Year season

This is the biggest season for any retailer in the western world and company will start its preparation early. Secondly artwork is considered to be precious gift so customers usually take time to decide upon the products (Jennifer Wong, 2001). Keeping these things in mind the  campaign will start in august and mailers and web advertising will be run to sell the products, it will accomplish two things first it will make room for the fresh content and secondly it will make the customers start thinking about the holidays and Christmas season early.

Valentine Day

After Christmas Valentine day is the biggest occasion for shoppers in America and the company will focus to position products accordingly. The products will appeal to youths and will go with contemporary lifestyle.

Easter

After Valentine day, Easter will be the next big occasion to drive sales and Promotion plan will start from second half of March reaching its peak in the Easter week.

Back to school

Back to school will be particularly big season for the school side of the business and feelers will be sent to schools two months before the official opening. In between the company will focus its energy on holding live demonstration and working with school staff to produce a customized and relevant solution for students.

References

Dr. Ralph F. Wilson, 1996.  Niche Marketing on the Web [online], http://www.wilsonweb.com/articles/niche.htm[accessed August 11, 2006]

Heather Conary, 2006.  Top 7 Trends in Online Ad Design  [online], http://www.sitepoint.com/article/top-trends-online-ad-design [accessed August 11, 2006]

Jennifer Wong, 2001.  ‘Tis the Season for Holiday Marketing – art gallery marketing strategy  [online], http://findarticles.com/p/articles/mi_m0HMU/is_9_28/ai_78539077/pg_3 [accessed August 11, 2006]

Justin Hitt, 2006.  Cultivate Business Relationships On Your Website  [online], http://www.sitepoint.com/article/relationships-website[accessed August 11, 2006]

Knowledge@Wharton, 2004.  Going Once, Going Twice … Glamour, Greed and Fraud at Sotheby’s and Christie’s  [online], http://knowledge.wharton.upenn.edu/article.cfm?articleid=1034 [accessed August 11, 2006]

Lynn Welch, 2006.  Guild.com gets boost from angels  [online], https://www.bus.wisc.edu/insite/events/speaker%20contents/Miner_on_Guild.pdf  [accessed August 11, 2006]

Michael Russell, 2006.  Affiliate Program – Success University  [online], http://www.ezinearticles.com/?Affiliate-Program—Success-University&id=261380[accessed August 11, 2006]

Vanessa Silberman, 2001.  The Art Show 2001 Receives High Marks, Draws Celebrities – Art Dealers Association of America – Brief Article  [online], http://www.findarticles.com/p/articles/mi_m0HMU/is_6_28/ai_75278003 [accessed August 11, 2006]

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