Contents Goals Short term goals: Long term goals: Strategies Business description and outlook Management and Ownership Operational plan 6a- roles of staff employed in the organisation Inventory of equipment Floor Layout Marketing plans Products Promotion Internal promotion External promotion Place
Goals are desired outcomes that the business wishes to achieve. Goals are important to a business as it acts as a target to reach for individuals and the company as a whole, acts as a bench mark to which a company can measure their performance, works as a form of motivation and to show a sense of commitment. Goals can be categorised as long term or short term and within these are goals that are financially based or non financial. Listed below are the goals of Geared Up organised into long or short term.
|Short-term goals||Long-term goals|
“Geared Up” is an electronic store that it part of the tertiary industry that is focused primarily on selling computers and computing accessories such as keyboards, mouses and headsets and supplying these products for a range of various uses such as at home/office based work, gaming or an all rounded computer. We also provide computing assistance, repairs and maintenance. The greatest competitor in the area will be JW computers who are although new in the area have already developed a strong customer base due to their reliability and great value. Despite the fact that JW computers is not too close to the store they prove to be a threat as both them and us provide the same services. However, Geared Up aims to develop strong goodwill and a solid customer base and in effect more potently strive in this market. There are many reasons why this business is being opened:
Geared Up is a Small sized business that is registered as a sole trader business owner Justin Saliba will hire store managers after a large amount of interviewing and finding the right applicants in order to maintain functioning of the store when the store manager is not available. Being a sole trader has many advantages and along with these many disadvantages. One major concern is the fact that sole traders have unlimited liability meaning that If the business is unable to meet any financial obligations or settle any outstanding liabilities, the owner’s personal assets can be seized to satisfy the debts. However the potential benefits can possibly outweigh the negative aspects these include: see appendix two for a pros and cons table
5b- Details of management structure and division of labour. Geared up will take up a flat organisational structure, that is, a structure that minimises the levels of management between owner and employees. This is ideal for a small company that is just starting off as it removes salaries of middle management and unneeded layers of management allowing for more efficient communication and coordination. This structure also prompts the employees to be more productive as they are involved in decision making and determining the success of the business
Store owner- the role of the store owner includes:
Store manager- The store managers’ role is to:
Full time employee (/ at home service):
Part time employee:
|Cash register and receipt printer|
|Credit card and paypass machine|
|Check out counter|
|Display monitors (x3)|
|Display cabinet (x2)|
|Shelving (2x wall and 2x isle shelves)|
A marketing plan is used to elucidate the primary marketing elements of a business and setting a foundation while also providing direction on the objectives, goals and activities for the business to collectively work towards.
|Home and office computers||$700-$1,399|
|Gaming computers||$999- $2,999|
|All rounded computers||$850-$1,499|
|CPU/ Processors- AMD||$79-$245|
|CPU/ Processors- Intel||$89.95-$450|
|Graphics card- Gigabyte||$75-$549|
|Graphics card- Asus||$45-$999|
|Peripheral devices (computing accessories)|
|External hard drive||$69.00-$229|
|In store repairs||$25+ cost of added components|
|At home assistance||35+ cost of needed material|
|Microsoft office home edition-2013||$249.95|
Promotion is fundamental for a newly established business as it provides a way to allow the business to reach out to potential customers through the use media, techniques and strategies to attain people’s attention. Promotion can be widely divided into two categories:
Internal promotion is useful for establishing a customer base by allowing them to gain something for the more they spend in store. Geared up will be implementing a rewards card system named “Geared UP Rewards”. This reward system will allow customers to gain points that represent in-store credit as well as receiving discounts on selective items. Another form of internal promotion that will be used is the placing of posters in and around the store raising awareness for specials and deals. This will be used to ‘lure’ customers into the store and forcing them to walk past many objects to reach the item advertised as on sale.
External promotion is practical for raising awareness of a store for people that do not regularly come to the store location. Geared Up will utilise many types of external promotion during the establishment phase of the business. This includes Newspaper advertisements (see appendix 3), handing out flyers (see appendix 4) and business cards (see appendix 5).
Where will you locate your enterprise and why? Geared Up will be located in Little Saigon Plaza (462 Chapel Road, Bankstown NSW 2200). Primary reasons for this location include:
How will your goods or services be delivered to customers? All goods will be available in store, however, in the near future home delivery will be implemented to supply goods for customers with the addition of a call out fee. What is your proximity to suppliers? There is no computer manufacturing outlet in the area and for this reason products must be delivered to the shop in exchange of a transportation fee. Stock in high demand will be bought in bulk in attempt to minimise avoidable costs. SWOT Analysis.
|Strengths (internal, positive factors) Strengths describe the positive attributes, tangible and intangible, of your organization. These are generally within your control.
||Weaknesses (internal, negative factors) Weaknesses are aspects of your business that detract from the value you offer or place you at a competitive disadvantage.
|Opportunities (external, positive factors) Opportunities are external attractive factors that represent reasons for your business to exist and prosper.
||Threats (external, negative factors) Threats are external factors beyond your control that could put your business at risk.
|Geared UP Statement of financial performance- for the year ended 30 august 2015|
|Sales Less||Costs of Goods Sold Opening Stock Purchases Closing stock||87,700 38,500 126,200 47,200||79,000|
|Expenses Total expenses||Advertising and marketing Legal fees Wages Insurance Telephone cost Rent On-going stock purchases Computer Motor vehicle purchase Motor vehicle running cost||1,000 500 100,000 1,500 3,900 43,200 32,000 3,000 16,000 3,120||321,000|
|Geared UP Balance sheet for year ending 30th august 2015|
|Current assets||$||Current Liabilities||$|
|Stock Accounts Receivable Prepaied Expenses||87,500 521,500 17,000||Accounts Payable Overdraft Wages||80,000 32,500 65,000|
|Total Current Assets||626,200||Total current liabilities||177,500|
|Non Current Assets||Noncurrent liabilities|
|Land Vehicles Furniture||10,000 16,000 6,500||Mortgage Owners equity Capital Retained profits||300,000 145,000 36,000|
|Total Non-current assets||28,500||Total Noncurrent liabilities||481,000|
|Total assets||658,500||Total liabilities||658,500|
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