Benevolently, business exists with two main objectives of making profits and maximizing shareholders’ wealth. Importantly, the kind of the venture determines the kind of the revenue that is accrued by an organization. Over the last decade, technological advancement has necessitated business operation where transaction has been made easy and convenient. Comparably, in the traditional business arena, operations used to be manually instigated such that time wastage was essentially common. This basically translates to mean one of the main advantages of technological advancement in corporate world is reducing time wastage as well as improving on quality. In addition, as much as there have been illusions of demerits posted by the technology, such as unemployment, it is imperative that the same technology has also helped create new and rewarding employment. In this case, technology is one of the game changers in organizational operations witnessed since its incorporation. Today, technology exists in terms of software, hardware and networking platforms among others. However, this research business plan will focus on the software part particularly in the web application development. Online business has portrayed great potentiality in the growth in what had been known as the electronic commerce (Fairchild, 2004). In definition, electronic commerce connotes an aspect of buying and selling of products and services through the internet. In this regard, buyers and sellers are connected through an online business platform that makes it easy for interaction. Electronic commerce makes it easy for buyers to negotiate for prices. Importantly, buyers are able to interact over a long distance and at their comfort of their homes. In short, online business provides services in a most convenient way yet at a price affordable by customers. Today, people have become busy with their work and it becomes it hard for them to physically present them to malls and business premises to buy goods and services. As such, online business came to solve this menace where customers only need to visit an online business website to purchase a product or service. Since introduction of the concept of online business, there has been much focus on selling products of ignoring the aspect of the service delivery. Equally important, these online businesses makes huge profits through sale of the products as well as placing adverts at a fee. Therefore, as an online business, QuickFix will ultimately seek to provide a platform where customers can search for services, but at a certain fee.
Description of the business
QuickFix online business will focus on providing the platform where buyers and sellers can meet. This will be possible through interconnection of several computers in an internet. In addition, the business will also offer platform where people can interact and negotiate for prices. Basically, in a nut shell, through QuickFix website, a customer can purchase a household service such as an electrician, and delivery service. In this regard, the QuickFix will generate its income by charging a service fee to the group of specialists and workers who use the site to source for service providence. For instance, assuming John has the problem in fixing the electrical appliance in his house at California. Through QuickFix website, John can search from a huge database for a nearby electrician, and contact him or her to fix the problem. In this case, John, as a customer and user of website will not have to pay QuickFix anything. Then, John can negotiate with the electrician on the price. In this case, John is entitled to paying a subscription fee to the business. QuickFix business will focus on creating a large database where professionals can update their capabilities and their area of specialization. However, authenticity will be of high regard to mitigate against the unscrupulous business people who may have intention to con clients and tarnish the name of the business. Another important aspect of QuickFix online business will be having a 24 hour operation, which will be projected to create convenience to clients as well as increase profits in equal measures.
QuickFix online business will be suited in the technology industry. As mentioned earlier, technology industry is becoming competitive because almost everything has become digital. This aspect has made the industry to be frozen and competition has become the order of the day. Online businesses such as eBay pose great risk of competition in the industry. To overcome the rising level of competition, online businesses focus on creativity and innovation (Fiore, 2000). One aspect of innovation is creating a variety of brand and selling procedures that make it easy for customers and sellers in general. For instance, it includes creating a platform that is capable of providing services without failure through infrastructural improvement such as database expansion. In addition, as much the industry is rewarding to the investors, it is worth noting that security threats are an issue. Malpractices such as cyber-crimes and hacking have dominated the technology industry. The issue of untrustworthy business people has been featuring in the industry. In summary, technology industry requires security and firewalls to mitigate these threats. Like any other online business, assuredly, QuickFix website will install measures and policies with an intention to make hacking and cybercrime intolerable. Ultimately, this will help build customer trust and surety.
Trends within the industry
Over the last 10 years, the growth in technology industry cannot be neglected. Based from the perspective that the industry is becoming on demand day after the day, the issue of the innovation and invention has become a trending issue. In the corporate world, technology has been adopted by almost every organization. Whether a big or SMEs, technology has been one of the key element. In fact, the level of technology adopted has created a competition edge within the industry. Technology is used to do almost everything in the modern society. However, coming up with new ideas is what distinguishes the industry players. For instance, setting a business that incorporates an already existing technological advancement is not deemed to flourish compared to a business that uses a new and modern technological innovation. The most fundamental trend is that technology can be used to solve any business problem (Guo, 2012). However, the kind of approach and idea is what determines the level of success. Although online business have been in operation for over 20 years now, QuickFix online business will purpose to feel the market niche by focusing on selling services through the platform, an area that has been neglected for quite some time.
QuickFix will operate as an online business. The company will operate based on the mission of “being the world class online business player in selling services to the people of the United States and global market”. This will be achieved through reaching customers at their places of work, homes and offices. In today social life, there has been the problem of reaching professional and specialists. In such a situation, people have been traveling long distances to search for the service providers. In addition, it is a headache to contact a person for service delivery especially if authenticity cannot be guaranteed. As an online business, QuickFix will provide authenticity of the specialists and thus clients will absolutely have nothing to worry while transacting the business. Essentially, QuickFix will act as an intermediary where specialists will meet their customers in a very formal way. This mission statement will be directed towards fulfilling the needs and wants of the customers. On the business side, the main focus will be customer contentment and satisfaction. Additionally, for this group of specialists to post about their skills and experience, a team of five will have to verify and authenticate the truth in them such that if anyone is found canvassing, he or she will be disallowed to register in the website.
The main objective of the business will be to provide solutions to the headache of searching for a specialist. This solution will be provided through developing a web application that is capable of bringing together a client and the seller (Hughes, 2006). In this case, the seller will be the specialist, while the buyer will be any person who will be interested in obtaining the services offered by the specialist. Apart from a one on one transaction, individual to company type of business will also be possible. This objective will be achieved through incorporation of five other specific/implied objectives;
Reduce time wastage in searching for a specialist. Over the time, people have been traveling long distances to seek a specialist. For example, assuming a customer is in need of a driver, he or she will be required to browse on the QuickFix website and search for a nearby specialist in the driving. By this, the customer will only be required be connected to internet. This will ultimately reduce the headache of physically moving from one place to another.
Bring convenience in the selling and buying though online exchange of services. QuickFix website will be accessible at all the times in whatever the place.
Create a database capable of holding a wide range of data information. These group of specialists will be required to enter and update their skills and experience for customers to peruse. This will call for a huge data repository.
Create a negotiation platform where customers can negotiate for better prices. Of course the price will be based on many factors such as the kind of service and technicality in it.
Connect people globally. Through selling and buying of services, QuickFix platform will enhance socialisation and interaction. This enhances internationalization of business and intercultural understanding in business.
To begin with, it is important to note that a business logo is useful in providing information about the company. Interestingly, a business logo of a business is always unique from any other. In company law, a business logo should portray and give an understanding of the type of business. A business logo can be presented as name, picture, drawing, an image, a fiction, a design, or a combination of several designs, among others. In this case, QuickFix will operate under the following logo shown in the picture below;
Description of the QuickFix logo
Like the name suggest, the logo portray an aspect of providing fixing service by the specialist. In this case, using the QuickFix platform, customer will expect someone to fix for them a broken appliance, electric cable, or other services such as cleaning. The logo is best suited for the company because it will actually help sell its brand. Although the business might later introduce other brands, the logo will have made the business to sell.
Resume of the company owners
QuickFix is projected to have a total of 5 shareholders. These shareholders will be sourced from a wide range of industries. Most importantly, depending on the skills and experience, shareholders will be required to provide capital and directorship of the company operations. Due to strategies and policies, QuickFix is optimistic that it will prosper in the industry. All the shareholders/owners will have a taste of technology industry because day in day out they will be required to make decisions sometimes tough ones. Owners will have the jurisdictions to appoint directors and managers of the company to ensure good governance is experienced. The resume of the five shareholders is outlined below;
He will be the chairman of the board that will foresee the decisions of the company. Kerry has a master degree in distributed systems from the University of New York. In addition, he has a professional course that relate to management. His varsity in management position at New York business setup for the last 10 years will ultimately help the company to grow and propel. Additionally, Kerry has worked an Information system analyst for a period of 6 years. He has also held a position as a network administrator at the eBay online business. Currently, John Kerry works as the system engineer at Amazon, one of the lucrative online business with its global focus. Based on the skills and experience of John, QuickFix Company will scale higher. Kerry will invest in capital of over $2 million for the business.
The shareholder will be tasked with the responsibility of deputising John. He has vast knowledge in data management, having worked as a data manager at Amazon for a period of 3 years after which he relocated to China. Joseph holds a master’s degree in data and information science from Harvard University, having pursued a degree in Information technology in the same university. As a deputy chair of the board, and as a shareholder/ owner, Julius will be expected to provide decisions on matters of company growth and development. In this scenario, he will foresee the day to day operations of the business and ensure everything conform to the policies and standards.
This iron lady holds a bachelor’s degree in computer security from the University of Michigan. She also has masters of the network security from the same university. The shareholder will basically ensure the security issues are dealt with in the company. Like mentioned earlier, online business industry is manifested with hacking and cyber-crimes, and Mercy oversee the issue. Based on her experience of 8 years as a security manager at eBay business, she is optimistic that she will steered QuickFix Company to another level. In addition, during her early 30s, Mercy worked as a security personnel at University of Michigan as an intern. This combination of skills, knowledge and experience will considerably enhance growth and prosperity.
The shareholder is specialised in financial management. He holds bachelor of business management in accounting option. He also holds CMA certification as a professional accounting course. Additionally, he has 5 years’ experience as a financial controller at Standard chartered bank. He is also personate about working as an independent. His personalities and skills as well as experience will assist QuickFix Company to have perfect financial management mechanisms. QuickFix will operate as a public company that will be required to trade its shares in the stock exchange market. This means, Lawrence will help in determining on the best and appropriate business opportunities in terms of offering advisory services as to when and how to buy shares.
Albert is specialised in human resource and operations. He has been a human resource officer for over 10 years starting from year 2000. Currently, Albert is the operation officer at one of the Apple branches located at Washington State. His vast knowledge in dealing with people is what will be used to recruit, train and motivate employees of QuickFix Company. Albert holds a master’s degree in human resource management and he has other professional course including study on organizational behaviour. Having worked with several employees, Albert will propel the company in motivating the company employees and clients. Over the last 3 years, Albert innovated a consumer insight behaviour that sort to establish that consumers are motivated by creating trust and worthwhile.
Day to day operations of the business
QuickFix Company will operate over a timeline of 24 hour system. The website will be accessible to any individual who will be willing to look for the services offered. Equally important, where an individual identifies a specialist who is in need to fix the problem at their households, he or she will be required to click an authentic button that will direct the client to the bibliography of the specialist. This is where the client will analyse the skills and experience. After analysing and ascertaining the capability of the specialist in question, the client will be connected directly to the specialist and allowed to access the contact address of the specialist. At this point, the specialist/worker will have to pay for a fee upon successful transaction. However, the fee will purely depend on the technicality of the problem and will be determined by the QuickFix Company. The specialist will be aroused through a text message by the QuickFix Company and he or she takes the initiative to negotiate with the client for the price. Again, specialists will negotiate depending on the technical hitch and probably distance. After that, the specialist arranges with the client on the specific time and schedule on how to fix the problem. The specialist will be held responsible for any tort that may be committed during fixing as well as misconduct. The main task of the QuickFix employee will be to oversee a perfect business transaction between the specialist and the client. Should the employee notice misconduct by either party, he or she is supposed to cut short the communication between the two. Misconduct such as deliberately overcharging the customers due to ignorance will result to cancellation of such contracts. In addition, any customer who may seem awful and abusive will also not be tolerated in the platform. Network will be monitored from time to time to ensure downtimes are fixed. Security will also be looked to avoid data loss and exposure of customer information that may be private and confidential. Any kind of the payment to the company will be required to be done through online money transfer such that customers and workers will be not be required to physically present themselves in the company premises (Taylor, 2012). In summary, the day to day operations will involve the following activities;
Registering a new specialist- In this case, a specialist who wishes to be registered with the Company website will be required to provide the real information through filling an online form. A copy of the education certificates will be required to ensure authenticity. Resumes and other required contact information will also be required.
Receiving payments– After the client searches and is contented with the specialist, the same specialist/worker is required to make a non-refundable fee payment to the company account using mobile money transfer to a till number that will be provided later. Actually, this will be the main source of the company income. The accounting department will be required to verify the payment before allowing the client to proceed.
Updating the client information- to keep track of the customer record, update on the customer data repository will be undertaken on a daily basis. This will ensure future retrieval and perusal should the need arise.
QuickFix Company will operate as a virtual company. This basically means customers will not be required to know the physical location of the company premises. The cost of setting up the company is estimated to be $181,500 excluding the operation capital. The most important part of the company will be design and development of the website that is capable of holding large amount of data and information in real time. In addition, a database will also be incorporated in the website. The website will be hosted at the webhosting companies that are reputable in the United States. From there office furniture will be purchased as well as other assets such as car. In summary, the start-up costs will be broken down into various costs as outlined below;
Building- The building of the company premises is estimated to be $150, 000. This is the greatest part that is expected to consume a lot of capital.
Website- This will not be an ordinary website. QuickFix Company will operate a web application that is capable of storing and retrieving a wide range of customer and specialist data at a go. For instance, in registering the specialist, like mentioned earlier, data will be stored in the company database. The website will be developed by a group of expert and it will be outsourced. It is expected that the overall task of designing, developing and testing the website will take a total of $1500 including the labour costs.
Furniture- furniture that will be used in the company will be purchased at a cost of $5000 million. Examples of furniture that will be used include chairs, tables, desks and other office equipment. In addition, furniture will be used to stock the company office space for employees.
Electronics- QuickFix will operate under technology industry. This means technological devices such as personal computers, servers and UTPs will be required. In fact, one main day to day operation in the company will involve use of computers to update, enter and monitor the website activities. Computers will also be used for data entry and storage of customer and specialist data and information $10000.
Network infrastructure- As much as customers will access data and transact online, the company will be required to install and setup a perfect and effective network infrastructure that ensure downtimes are minimized. As an electronic commerce business, QuickFix Company must be ready to incur costs to ensure that at no given time customers will experience failure in accessing the website. Due to complexity associated with the network infrastructure, the company is expected to spend a total of $10000.
Electronic resource planning (ERPs) – In today’s corporate world, ERPs takes the operations of the day to day of organizations. ERPs in QuickFix Company will ensure departments are interconnected in one system, where the human resource department, finance and other department are able to access and share information from a one server. The budget is at $5000.
Undeniably, any business exists with an objective of maximizing profits. Any business that does not make returns is regarded not viable. When the business has already broken evened, it can connotatively be concluded that the company has a great potential to grow and expand. From this perspective, being a profit oriented company, QuickFix Company will expect to break even after 2 years of operation after the date of commencement. Cash flow statement in the business helps in determining the expenditure patterns where a manger is able to pinpoint the areas that expenditure are high beyond the normal usage. In QuickFix Company, the cash flow projection is outlined below;
Revenue from sale of services
One major source of company revenue will be customer (worker/specialist) fee payment. Also, as part of regulating the specialists, a monthly standard fee will be imposed on them. In addition, using the website, adverts will be placed on the side-lines. The adverts will be expected to generate cash. In the first year of operation, the company will generate profits that total of $200,000. In the second half, revenue is projected to double such that in the beginning of third trading year, the company will have reached breakeven point. From there, the company can now star to record profits and propel growth and development in equal measures.
Various expenses will be incurred by the company. Some of the expenses will be termed as fixed while others will be instigated with a desire to grow and expand. For instance, after a period of 5 years of operation, QuickFix may decide to expand the business by sifting to focus on many more products and services. While it is imperative that growth and development is determined by the revenue posted, the company will try as much as possible to reduce expenditures. Some of the expenditures by the company will be;
Salaries and wages- This portion of expenditure is fixed in the sense that by the end of every month, employee will have to be paid. However, employees will be paid and rewarded depending on the level of education, skills and experience as well as the position held in the company.
Rent/Mortgage payment- Where the company will have to obtain long term loan to finance the business, payments will attract an interest. Accordingly, this expenditure will be made on a monthly basis. In addition, some of the assets such as cars and Lorries will be obtained using a higher purchase mechanism.
Insurance paid- Undeniably, uncertainties are bound to happen at no undeterminable place and time. As such, it is paramount to insure the company against uncertainties. Among the risks that QuickFix Company will insure against include fire and third party policy in the case of cars.
Telecommunication services- Basing the argument from the insight that QuickFix will operate in the technology industry, licence fees and renewal fees will be incurred from time to time. This part will also account for company list of expenditures.
In short, where incomes will exceed the expenditures of the company, profits will be consequently be generated. However, it will be the responsibility of the company top management to reduce the any activity that may arouse unnecessary expenditure.
What makes service unique?
QuickFix Company will operate as a service based. Contrary to other online businesses that focus on selling products and service QuickFix will specialise in providing services. Normally, online businesses require a customer to order the products after which they pull into the cart. In short, QuickFix Company distinguishes itself from other online businesses in many forms;
This is one of the areas that the company provisions are distinguished from other online business. In this case, customers will be able to search for a specialist from the QuickFix website. After that, the specialist will be able to provide the solution to the problems of course at a fee. Comparably, online business focuses on selling products to the customers. In that regard, customers order for the product they want and the online business plan on purchasing the product from the manufacturer and then sell at a small profit to the customer. In other words, QuickFix company will act as a platform where clients can meet specialists t fix their day to day. For instance, where a client requires a person to clean his or her house, they can source the cleaning services specialist using the QuickFix website. This will be necessitated because specialists will have registered with website.
ii. Income generation
The most unique thing about the service is how the company will generate the profits. Normally, online businesses sell products of other manufacturers at a profit. They do it through offering to sell the products to clients a price that is little bit lower than the normal retail prices market. These online businesses are able to buy several products from the manufacturers and thus they enjoy quantity discount. They price the products to suit their expenses and include a profit margin. Simply put, online businesses obtain their profits through selling of products and services to customers at a price higher than the buying price. On the other hand, QuickFix Company will focus in providing service where clients can meet specialists using the platform. As such, the main profits will be from fees paid by workers and specialists out of using the platform to meet the specialist to help fix the problem in their houses or offices. In addition, due to traffic that is expected to be experienced in the usage of the website, QuickFix will also obtain some of the incomes through adverts.
A normal online business such as Amazon does not require customers to enter their personal data and information. Therefore, for the online business, it is not possible to authenticate the genuine customer or clients (Child, 2009). In most cases, unscrupulous business people and money launderers will seek to the business attention by simply ordering for a product yet they absolutely have no intention to buy, rather to engage in other heinous acts. Therefore, because QuickFix will categorically focus on providing services to clients, through connecting clients with specialists, the level of authenticity will be of high regard. Importantly, these specialists will be required to provide their services in high elide places such as private rooms of the clients. The main advantage of the service provided by the company is that because the company will have all the details of both clients and specialists. This will consequently help regulate criminal acts that may emanate from the transactions.
Analysis of competitors
In corporate world, competitors are deemed main threat in a company’s growth and development. In what would be perceived as constructive competition, sometimes competition in a market create a platform where organizations become more innovative and come up with new ways to provide products and services to their customers. In a monopoly market, the level of competition is minimal thus customers do not absolutely have any choice for whatever the products or service is provided. Therefore, competition is important because of two things; first, services are improved and secondly innovation and customer focus is given priority by organizations. Like any other industry, technology industry faces lucrative competition. Technology players are coming up with innovations day after day in order to combat the ever growing customer demand. Online business operates virtually. These online businesses do not necessarily have designated premises. In this regard, QuickFix Company will face a stiff competition from world online business players. Some of them have already dominated the global market. Among the competitors of the QuickFix Company will be;
Founded in the year 1994 by Jeff Bezos, Amazon is a world class electronic business with its headquarters in the Washington, United States. Amazon stocks wide range of products such as books, furniture, fittings, electronics, and foods among others. As at December 2016, Amazon was described as the biggest online business in the global, both in capitalization and stock. The company started as a book store and later diversified to other products. This diversification attracted customers and thus the today growth. In addition to diversification, the main driver to company prosperity is the level of creating separate websites for specific countries such as Canada, UK and China. This has helped in internationalization of the company products and services. Another driver to prosperity is the issue of the focus on the youth products such as games and songs. Amazon not only provides electronic, foods and furniture, but also provide entertainment products such as games, mp3 and toys. This has keenly attracted the young generation. Like any other online business, customers are required to order a product by clicking pulling into cart button (Martin, 2006). The Amazon team then delivers the products to the clients upon payment of the same. Amazon only focuses on selling products and that is where the QuickFix Company is optimistic to specialise in service provisions to the clients. QuickFix will provide services that clients can use to meet specialists to fix their household problems.
It is an online business founded in the year 1995 by Pierre Omidyar. The company facilitates both business to consumer and consumer to consumer type of business. Headquartered in California State, eBay is a multibillion company operating in over thirty countries globally. In particular, the company manages the eBay.com website where individuals and businesses sell and buy products and services. Buying of these products and services worldwide is possible through interconnection with internet. In addition, at eBay, one of the main income generation strategies includes the advertising and online ticket trading. This is possible because the website has a lot of traffic of both buyers and sellers (Palmer & Williams, 2010). Again, sellers are charged a fee for listing and displaying their products through the website. Apart from being charged for listing, sellers upon selling those products are required to pay a fee to the eBay company. This should be proportional to the amount of sale. Like eBay online business, QuickFix will help customers meet their specialists through the website. However, QuickFix will impose a fee to seller (specialist). In this case, these workers will be required to pay a certain amount to necessitate connection with the client. Also, because specialists also benefit from the sale of their service, they will also be required to pay a monthly subscription fee upon selling their service to the client.
It is an online business headquartered in Bangalore. The company was founded in the year 2007. Being the latest setup QuickFix competitor, the company has recorded significant growth since its inception. The company operates as series of chains in the globe with its main focus on products such as USBs, laptops, tablets and bags as well as other smartphones. Flipkart purchase the products from the manufacturer and then sells them at a profit. They buy the products in large quantities and thus they enjoy quantity discount. Customers order the products through the website and the company team delivers the products upon payment of the same. As at November 2016, Flipkart recorded a revenue income of $5.54 billion. Having been in the industry for only 8 years and recording such huge profits, it means the company is doing well in terms of reaching customers. Unlike Flipkart, QuickFix will ultimately provide the services instead of products.
Marketing plan and strategy
In the whole of last year, many businesses were set up in the United States and Spain. This was possible for only entrepreneurs who could focus on their envisioned to create change in the market. Most importantly, the need to create new and innovated products and services increases day by day. Customers are on need to have products and services brought closer to their area of residence. Through technology, the website is able to provide this convenience. While most businesses start with only a solid ideas and visions, most business men and women do not have plan on how to execute the idea into a real operational business. One major area that business ventures terribly fail is on contemplating and planning on the marketing. As an online business, QuickFix projects to break down its marketing plan into subsections discussed below;
Target market- QuickFix Company is dedicated to providing selling services to the specialists as well as providing convenience to the clients who would want to seek specialists to fix problems in their houses. Anybody will be a client, but nobody will be a specialist. A specialist will have to provide details that actually saw that he or she qualifies for the job for which he or she advertises with him or her. On the other hand, a client will be required to provide authenticity as he searches for his specific specialist. As an online business, QuickFix will also focus on companies as either clients or seller (specialists). For instance, a company could have special kind of problems that require fixing and therefore here the company will be treated as a client.
Marketing management- As a head of marketing department, Irene Juliet will be tasked with the responsibility of marketing the company. Iren has an experience of 4 years as a professional marketing manager at Flipkart. This translates that having in the industry, the company is optimistic that she will make the service of the company be known. Her vast experience as an advisory and consultant at corporate staffing company in marketing department catalysed her placement in the QuickFix Company.
Financial summary- marketing the company will require substantial amount of capital. This capital will be sourced from the long term bank loan of about $ 2 million. The amount is estimated to help reach as many people as possible. Marketing of the business will be done using three main methodologies; first, using televisions, where adverts will be made to appear during family times. Secondly, using social media platforms such as Facebook and twitter will be a critical aspect. Finally is using face to face and referrals. These marketing methodologies are expected to attract the specialists to register in the website and clients to start looking their household solutions from the website.
Four Ps of marketing
Product- in this case, QuickFix Company will specialise in providing services instead of products. The service is not offered by many online businesses and thus it is deemed to create competition edge in the online business industry. The service will be purposed to create convenience to household problems where clients will seek the household solutions through specialists form the platform. Therefore, QuickFix is optimistic that clients and specialists will find it an easy way to meet and transact their business while the company makes standardized income.
Price- Like mentioned earlier, the company will obtain income through charging a fee to specialists who successfully transact the business using the platform. However, the company objectives would be to make it easy for clients and specialists meeting. This fee will be based on technicality of the problem and the amount that the client willing to pay to the specialist to fix the problem that exist.
Promotion- the Company will operate as service based. In the market place, the service will stand out because 90% of the competitors deal with providing products. Having a service based online business will make QuickFix Company to propel in the market place. In addition, using social media platforms and websites, publicity of the company will be reached. In televisions, ads will run during family times to provide a wide view and publicity.
Place- Because the company is online based and that customers and sellers do not have to physically present themselves in the area of operations, location is projected as a non-issue. However, should the clients need physical presentation to the headquarters, they will be highly welcomed. Sales will be made using the website where customers will identify themselves with specialists depending on their household problem.
Absolutely, because the company is committed to filing a market gap, QuickFix is very optimistic that it will reach as many people as possible. Apart from fulfilling clients’ needs of fixing the households problems, the website will also help create employment. This will be based on the insight that the website will enhance networking of these workers and professionals to meet their clients. At this point, clients will not be required to pay any amount. However, because specialist charges the client the amount of fixing the problem, the specialist will then be required to pay a fee to the QuickFix Company. Our main customers will be professionals, specialists, and any other individual with special kind of skill/experience.
Like any other company, QuickFix Company experiences strengths, weakness, opportunities and threats.
Strengths- The main strength of the company is the level of innovation. Selling of the service to its clients is an innovation in itself. Contrary to its competitors such as Amazon, which specifically focus in selling physical products, QuickFix specialise in providing services to its clients. An additional strength includes convenience of the business. Both clients and specialists will not be required to make a physical presentation to the company premises because transaction will be effective online.
Weaknesses- Authenticity of clients will be a greater weakness to the company. Unlike specialists who will be required to provide resumes, it will be somehow difficult to verify clients who want to search for these workers to ix their problems.
Opportunity- The main opportunity of the company is innovations. Customers are nowadays not only focused on service delivery but also on a satisfying and convenient service. Clients and specialists will transact at the comfort of their homes.
Threat- competition is one the threats that affect any organization. Amazon, eBay and Flirtkart are among some of the competitors of QuickFix Company. Each will have to work around the clock to ensure they gain dominance and obtain a substantial market share. QuickFix is very optimist that through strategies and improved customer service, market share will be gained within the first trading year.
QuickFix Company will be aggressive in providing services to its customers. One major boost to the company is continued customer demand on the clients. Clients will be able to access the website at little costs and at whatever the venue and location. In addition, specialists will register with the company website to ensure their profile remain competitive to clients who seek their service. Marketing of the company will be done using televisions, social media platforms and also face to face referrals. The start-up cost for the company is estimated to be $181,500 from which the company will break even after two years of operation. QuickFix Company is the greatest viable idea that will dominate the industry.
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