Cask services is a consultancy company with the aim of providing marketing advisories to individuals in various countries such as The United States, The UK, and Mexico. The idea was motivated by the demanding lives in offices. We are projecting that our business will have the capability of serving approximately 19 organizations every month. In addition, we also expect that the organization will have a dramatic increase in revenues by offering small enterprises with consultancy services.
The marketing strategy that we shall be using mostly includes physical meetings, Social media, and partnership with experienced marketing professionals. We are looking forward to starting the process with social media advertising. During the period we shall be offering varied discounts and offers for those who review our products on social media and the company’s offices. In addition, those who follow the organization’s social media handles such as Facebook and tweeter.
We shall also focus on marketing various products on companies that are located closer to our new offices using brochures, as well as sponsoring local events in the area. We have a lot of faith in these ideas, that they will propel the organization to higher levels. Moreover, we believe that it would be better build a service dominance for the prospects.
We are planning that the company will be operational during the normal business hours. That is 8:00 AM to 5:00 PM. With such a timeframe, we shall have ample time to provide our services, especially for the small companies. To ensure that we have effective operations, we shall develop one generational shift for the few employees. This implies that the employees will be working from 10 am to 10 pm. Other than just focusing on offering services to the clients, employees will also be creating promotional materials and processing various requests. The second shift will primarily focus on consultancy services. To ensure the operations are smooth, our new business will require approximately 3 to 4 employees.
The employee will be divided into two timeframes in order to ensure that everything runs smoothly from. Managing chat room, the making of brochures, attending to inquiries and social media marketing. We believe that the business has the ability to seal the gap in the niche. This will ensure that all business a catered for irrespective of their sizes or financial capabilities. In addition, we plan to focus on small business before focusing on big organizations.
Upon establishment, we shall involve big consultancy organizations in order to have a full understanding of the niche. As a new enterprise, we believe that there is a huge opportunity in this industry as customers are limited of options due to their low budget. In addition, we shall come up with new strategies rather than maintaining the old forms that are usually used by other organizations. Although this would be a great opportunity for us, the proposed strategies may ensure that we meet some of the key challenges. Industry Analysis
SWOT analysis is a fundamental component that can be used in analyzing an industry as well as identifying the strength, weaknesses, opportunities, and threats that might face our business. This strategy will allow Express marketing consultants to identify all the factors that might influence the progress of business both within and outside. It is necessary for any organization to create a SWOT analysis to put into considerations the perception of consumers in the appropriate way,
For Express Consultant to thrive, it makes sure that it has the best understanding of its strong points. Such information can be obtained through the examinations of the most important areas and the available resources in the business.
A Selective Personnel plan: Express Consultant works to ensure that the workforce meet the set standards of quality based on professionalisms and service delivery. Additionally, it confirms that the employee also observes the best practices about the quality of services.
Affordable prices: Express consultancy is a known provider of the best quality services and at all times seeks the moats appropriate ways of improving the value of the clients.
Inflexibility to change: If the market trend tends to shift back to the traditional services, Express Consultants won’t be able to change its trend without making huge changes in its workforce which in turn might result in higher financial losses. Express consultants would prefer introducing new products with the assistance of comprehensive market research to be ready for any changes.
Positive environmental commitments: Express consultants integrated different environmental obligations into its daily operations. This is accomplished through the use of naturally responsive strategies and still maintain a good working atmosphere.
Threats can be described as external factors that often have adverse effects on a company in its strategies. In the cases of our company, the biggest threat comes from big organizations with better services that Cask consultancy services might have to build a strong reputation in order to attract clients. A good industrial analysis helps an organization to focus on some of the weak areas to improve them, employ the available resources and evade threats. It is necessary, particularly when developing business plans to concentrate on accomplishing competitive edge over other companies through a better understanding of both inner issues and external factors of that company.
Market and Competition Analysis
The several Key that Cask Consultancy emphasizes on in order to succeed. The Western region of the US is a bit ahead. They are drastically transforming from the old economic frameworks to new frameworks that would ensure significant development. Since new economic development come with new and better agendas, the profile of the prospects will also change. We are directing our focus on establishing a formidable association with small business enterprises as well as individual customers.
1. Marketing strategies. The services we would be providing will be attractive. Such is aimed at attracting a substantial number of loyal customers. Being a small business with a set of services such as marketing intelligence and market consultancy, changing our reputation into a popular brand that creates value will require a lot of dedication and focus.2. Generating new business leads: Since our business will be participating in online business affiliation with other global marketing organizations, one of the key elements to employ would include the use of high tech technology such as Altor software to facilitate its integration with other business and individual clients.
Organizations providing strategic services will be our core rivals. We envision that our rivals will be competing for the same market. Nevertheless, we feel we will have an advantage in relation to other start-up businesses since we will be serving new plans. Moreover, we believe that shall also be having a competitive advantage over the traditional marketing organizations since shall be having a small sitting capacity that won’t require the traditional 20% service charge. The main intention behind most of our services is to focus on client seeking quick results with a short period. In this way, our business will be able to compete with other reputable marketing corporations. Additionally, we are hoping the high quality of services.
We believe that the competitive advantage we have over the small enterprises and the traditional marketing consultant organizations will be founded on the values of offering new strategies for clients who prefer quick results with low-medium prices. Due to limited selection, our business envisions that we would have the capability of controlling our inventories. Moreover, we also feel that through social media marketing, which all our market target uses, we will have the ability to limit a number of funds that might require being invested for purposes of advertisement. However, as a result of limited selection, we may be in a disadvantaged situation when facing stiff competition from reputable organizations with detailed services.
To come up with the most appropriate budget we had to focus on projections of the key financial activities that would propel our business to great heights. Therefore our first projection was the start-up cost. However, we may not meet the huge turnover due to small production capacity. Our business is still small. It is vital to focus on different factors when summing up our projection. After conducting an analysis of the key financial ideas. It would be easier for us estimate sales. After completing that, we shall estimate any changes due to change in turnover. A major factor in evaluating and forecasting particular account balances is through sales percentage methodology. By assessing the start-up account and analyzing the speculated changes, it would be easy to evaluate the percentage relationship.
|Non-cash equipment from Start-up||$10,050|
|Cash from Start-up||$0|
|Capital and liabilities|
|Total Projected Investment||$30,000|
Financial Pro Formas
|Month 1||Month 2||Month 3||Month 4||Month 5||Month 6||Month 7||Month 8||Month 9||Month 10||Month 11||Month 12|
|Credit card charges||0%||$2,900||$3100||$1,300||$1,200||$1,400||$1,300||$1,400||$1,400||$1,300||$1,300||$1,400||$1,100|
Every Organization makes a number of assumptions when establishing a new venture. The client needs good products, and the entrepreneur looks forward to profiting from sales of the product. As an entrepreneur, one would want to ensure he has conducted comprehensive research that would enable support for more than just a few assumptions, utilizing the appropriate data. The financial plan for the new venture has been calculated using a number of assumptions. Such include:
- 1. The economy is stable without recessions.
- 2. There are no major changes in the medical and insurance industry.
- 3. Product/ service needs: The assumption shows the need for products and services to be available in the market. Therefore, it can be concluded that suing a detailed analysis of competition, it would show that other organizations are dealing with the same products and selling them profitably. It is important for the services will are providing to be tested in the market in order to ascertain their viability.
- 4. Profitability: We believe that the business will be profitable. The idea has been borne out of detailed research on the market, budgeting, Sales forecasting. Notably, the profitability of any organizations does not just come from the turnovers alone. It also involves operational cost and cost of products. Once these have been evaluated, it is important to review the prospects order to assess the period we can pay-off the cost of starting the business. We have selected the pricing strategy since it will enable our business to generate high turnover at affordable prices, thus maximizing our profit margin.
- 5. Another assumption is that 60% of turnover is often paid within the first month while the remaining 40% of monthly sales remain on the account.
- 6. 35% of the sales are paid by the end of the month while 65% of outstanding accounts are still not paid up by the end of the month.
Monthly Cash budget
|Starting balance ($)||$935||891||928||895||889||939||952||927||920||909||977||927|
|Capital expenditure ($)||113||123||113||106||102||94||114||126||133||126||119||123||1,392|
|Ending cash balance||$0||$0||$0||$0||$0||$0||$0||$0||$0||$0||$0||1348|
Current Year Balance sheet and Income statement
Sales for the present year $ 3,000
Operating cost 2,800
Earnings before interest $ 200
Less Interest expenditure 85
(EBT) $ 115
Income after tax $ 69
Add retained revenue $ 49
Cash $ 50
Accounts receivables 350
Aggregate assets $ 2,000
Equity Payables + Accretions $ 200
Interim loans 100
Total current liabilities $ 300
Long-term pledges 750
Total $ 1,050
Shared stock 150
Reserved revenues 800
Total common equity $ 950
Total liabilities $ 2,000
Projected income statement
The projected income statement indicates our hair product business having positive cash flow. After a short period, the company will show a rise in cash balance.
|Income statement (,000)|
|Current Year ($)||Changes($)||Next Year ($)|
Less interest expenditures
|Earning before tax
|Additional earnings||$ 49||131|
|Fixed assets||1000||(1+g %)||$1,100|
Short term loans
Interest bearing debt
|IBD* forecasted IBD||$265
|Common stock*new issues
Add retained earnings from income statement
|Total common equity
|*interest earning debt||$386|