Business Plan - GB Link Ltd - Free Essay Example

Sample details Pages: 7 Words: 2035 Downloads: 6 Date added: 2017/06/26 Category Marketing Essay Type Research paper Did you like this example? gb link ltd Business plan Executive Summary Cellular telephones have revolutionized the communications arena, redefining how we perceive voice communications. Cell systems are benefiting from this research and starting to develop into large-scale consumer products. Computer has also been used in a large quantity of areas such as research, home and office. GB Link ltd. is taking advantage of an opportunity to become a highly distinguished and recognized retail shop about phone and pc in the communications industry. In order to achieve this goal, GB Link ltd. critical success factors will be to identify emerging trends and integrate them into our company operations, respond quickly to technology changes/be there early, provide high-quality services, invest time and money in marketing and advertising, expand into specialty markets, and stay ahead of the technology curve. 1.1 Keys to Success Our company keys to success will include: Don’t waste time! Our writers will create an original "Business Plan GB Link Ltd" essay for you Create order Provide excellent customer service Grow and maintain a referral network of customers Focus expertise in phones pc and phone pc programs Respond rapidly to customer problems with product or plan 1.2 Mission GB Link ltd. mission is to offer its customers the highest quality products and services. Its owner focuses on personalized service to his customers by offering convenience and rapid service. Additionally, our staff has the experience to assist customers in picking the product and service that best meets their needs. Finally, the owner will have strong vendor relationships with the product suppliers and will beable to meet customers demand for the newest innovation in cellular phone and pc technology. We believe it is important to remain an active member of the community, and to impact peoples lives in more ways than deriving a profit from them. We propose to host community events that bring out the best in people. 1.3 Objectives The company intend to offer products and service packages that are priced appropriately for each segment and will offer the services that best suit each segments needs. Our company will concentrate on cellular phones pc service s, repair and support. Business Objectives Company growth Become established as the leading distributor of the phone pc accessories and repair server. Financial Objectives Create and increase revenue Marketing Objectives Increase marketing efforts Expand market area Expand marketing reach Brand recognition Increase telemarketing efforts 2. Start-up Summary The owner will invest à ¢Ã¢â‚¬Å¡Ã‚ ¬60,000 in the new retail shop in the Jevis shopping center. The following table show projected initial start-up costs for GB Link, Ltd. Start-up Requirements Start-up Expenses Legal à ¢Ã¢â‚¬Å¡Ã‚ ¬2,000 Deposit à ¢Ã¢â‚¬Å¡Ã‚ ¬10,000 Equipment à ¢Ã¢â‚¬Å¡Ã‚ ¬2,000 Decoration à ¢Ã¢â‚¬Å¡Ã‚ ¬25,000 Other à ¢Ã¢â‚¬Å¡Ã‚ ¬1,000 Total Start-up Expenses à ¢Ã¢â‚¬Å¡Ã‚ ¬40,000 Start-up Assets Cash Flow à ¢Ã¢â‚¬Å¡Ã‚ ¬10,000 Start-up Inventory à ¢Ã¢â‚¬Å¡Ã‚ ¬10,000 Total Assets à ¢Ã¢â‚¬Å¡Ã‚ ¬20,000 Total Requirements à ¢Ã¢â‚¬Å¡Ã‚ ¬60,000 3. Products The following are the products that will be offered by GB Link, ltd: Computers accessories Phone/ pc repair 4. Place There are few reasons why Jervis shopping centre as a shop location is the best choice for us. 4.1 We did a lot of works of market research. Such as people can get most of products in the Jervis shopping centre which satisfies different ageà ¢Ã¢â€š ¬Ã¢â€ž ¢s consumers. Also no matter what stage of the guest, mobile phones and laptops is necessary for everyone. 4.2 In the mobile phone and the laptops markets, there is a PC World and a kiosk who sale Iphone and Samsung accessories in the Jervis, and lots of mobile shops in Henry Street, such as a Vodafone, O2, Three, Emobile, Carphonewarhouse and so on. The above data show that the customers who require phone/pc service will be consume in here. Our shop not only causes benign competition but also is complementary role. The repair services they provide are confined to Manufacturerà ¢Ã¢â€š ¬Ã¢â€ž ¢s Warranty service. According to market research, 75% of repair services which customers require are out of Manufacturer à ¢Ã¢â€š ¬Ã¢â€ž ¢s Warranty.So this requirement is not satisfied before. We fill in the gaps now. 4.3 More and more new phones and laptops come out to meet consumer requirements in this high increasing information society. It brings a large field market to repair industry. 4.4 Shop design and displays will be more reasonable and up to date style so that it aiming to middle class. In this case, customers will feel our professional attitude, rather than those that phone shops without formal design in Moor Street. 4.5 As a manager, I always contact with some big company for business, such as MPRC, Fonemender, computer 2000 and genius solution. 4.6 With strong and long term interest and research in this industry. We believe that we provide premium service, experience and effort to our customer. All above elements are going to lead us to success. 5. Market Analysis Summary The market potential is huge for our products, evidenced by what appears to be the unstoppable gr owth of the phone and pc industry. Currently, the telecom industry is among the strongest growth industries and is responsible for huge gains in the capital markets. The proliferation of cellular phones is increasing at rates which at one time were unimaginable. One illustrative example is that it is forecasted that within two years over 99% of children from age of 10-15 will have cell phones. 5.1 Market Segmentation GB Link ltd will focus on four customer groups, bearing in mind that it is quite customary today to have more than one cell phone per family: Children in the age group of 10-17 years old Students General public 5.2 Competition and Buying Patterns Brand names are of little, if any, importance. The key to the buying decision on the part of the consumer is the salesman and the products and service being in front of them. It is essential that the salesman point out the salient features and selling points favoring our products. Most importantly, our products must be available in the retail outlet, since whatever products our store carries are the ones that are going to be sold. 5.3 Target Market Segment Strategy The market for cellular phones/pc and their accessories are very fragmented, crowded and competitive. Among these, there are only a few large local firms that serve the entire city of Nice burg and its surroundings. The remainder is small firms that sell from kiosks in the surrounding malls. GB Link, Ltd. current niche in its location, variety of products and expertise in serving the public will assure the projected sales. We expect to take full advantage of the trends desc ribed in the Market Analysis above, and try to penetrate the market with new innovations and gadgets à ¢Ã¢â€š ¬Ã¢â‚¬  mainly with the younger generation, using advertisements and demonstrations. We shall also try to lure independent small sellers to join our effort. 5.4 Strategy and Implementation Summary GB Link, Inc. will use a strategy of total market service. Assumptions: Every person is a potential customer and all our potential markets will experience growth. Marketing to one segment of the population will lead to an expansion in overall market growth. 6.1 Competitive Edge The GB link, Ltd competitive edge will be: Location: Locating the company in the main shopping center of Dublin city centre enables the company to cover a large and rapidly developing customer populace. Customer service: Mr. LIN, owner of GB link, Ltd. has been the manager of the GSM CONNECTION LTD for many years past and accumulated a vast knowledge and experience in the cellular phone/PC market of Dublin, with a special expertise in GSM phones. He is very familiar with his target customer base. He has an excellent reputation for customer service. E-Commerce: The Company will make an effort to enhance its sales through a serious and advantageous website in order to attract customers that are reluctant to do business with large companies. 6.2 Marketing Strategy Short-term marketing strategies are those that bring will bring us a temporary boost in traffic. Although these techniques are very important to our over-all plan, they are only a tempo rary traffic source and must not be solely relied upon. Short-term marketing strategies include: Purchasing Advertising Bulletin Boards Search Engines Long-term marketing strategies are those that will bring us a steady stream of targeted traffic over time. These strategies will continue to produce results even years down the road. Long-term marketing strategies include: Opt-in Lists Freebies Content By creating and implementing a balanced marketing strategy, using both short-term and long-term strategies, GB link Ltd will drive a steady stream of targeted traffic to our website. Using this simple formula when creating our Internet marketing strategy and excelling at all three, we hope to guarantee our success. Our short-term marketing strategy will focus heavily on sales promotion, niche positioning in the market and customer service with loyalty and retention in sales. Our promotions will always stay in tune with our company objectives and mission statement. 6.3 Sales Strategy Constructing our Sales Strategy we shall follow the following steps: Sales Success Requires Planning we shall formulate our sales strategy and tactics to achieve our sales success. Analyze Our Potential we shall step through a structured process that will prepare us for the development of our sales strategy. Develop Our Tactics we shall receive guidance to develop a comprehens ive tactical plan to achieve our success. Measures Our Success we shall constantly develop key measurements that mark the progress of financial estimates that guide our growth. Employ An Action Plan for Success we shall provide our sales force a clear tactical plan that is also aligned with managements strategic objectives. The sales strategy of GB Link, Ltd. is simple. The key to customer satisfaction is having the product and services that meet the customers needs. A crucial part of that is to also have knowledgeable employees to help customers quickly find what they want. 6.4 Sales Forecast Sales forecast displayed here is very conservative à ¢Ã¢â€š ¬Ã¢â‚¬  although we aim very high, we decided to show a very slow growth and revise the plan on a yearly basis. As a rule we expect to expand the volume much more rapidly. 7. Management Summary The management of GB Link, Inc. is made up of owners, Minling Lin and Mingyi Chen. 7.1 Personnel Plan T he opening hours of GB Link, Inc. will be officially 10:00 a.m. to 6:00 p.m. 7 days a week. It is clear that due to our Internet operation the customer support will be a non-stop one. The personnel plan, as detailed in the following table, has been developed to support these hours. Assumptions regarding personnel have been made for year 1 through year 3 as follows: Year 1 Owner, Mr. LIN will draw a salary of à ¢Ã¢â‚¬Å¡Ã‚ ¬42,000. Year 2 Salaries will be boosted by 10 15 percent. Additional staff will be hired if significant increases in sales warrant. The same applies to Year 3 8.1 Start-up Funding Mr. LIN will invest à ¢Ã¢â‚¬Å¡Ã‚ ¬40,000 in GB Link, Ltd. to cover start-up costs. He will also invest an additional à ¢Ã¢â‚¬Å¡Ã‚ ¬20,000 when operation takes off. 8.2 Important Assumptions As a general rule our company will not sell on credit. However for very special cases we might offer short-term credit against valid assurances. We shall accept cash and c hecks, Visa, MasterCard, Discover and American Express, and PayPal on the Internet. All sales paid via credit cards will be deposited in our business checking account within 48 hours. 8.3 Financial Plan It is assumed that the owners private resources will be sufficient to finance any monthly cash-flow shortage. However, it would be advisable to establish a bank relationship as soon as possible. Sales could very well increase at a much sharper rate than assumed in these conservative projections. Sharper sales will result in a greater need for funds in support of inventory and receivables. An over-draft line of credit with the bank will be an excellent cushion to fall back on. This is considered a very good time to start a new business. The economy is beginning its trek up, and consumer spending is up. The Commerce Department reported, Consumers had increased their spending, the largest advance in nine months. A shorter learning curve will be brought to the business by the owner due to his extensive background and in-depth market knowledge. He has a clear understanding of the need to manage costs and forecast future needs so that the business is not broadsided by the unexpected. One other component on which the financial plan is based is wise purchases. Finding the right product, at the right price will enable the business to meet planned margins and maintain inventory at an attractive level with a high turn rate.