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Business Plan Management And Entrepreneurship

Essay by 24  •  January 3, 2011  •  1,013 Words (5 Pages)  •  1,311 Views

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Business Plan

Introduction

In business many opportunities can arise regularly so this leaves the market open to being entered. People can capitalise on these areas so that profits are high and the market can be left with relative ease after an abnormal profit has been made.

It is in the businesses start up to manage to distinguish a niche or opening in the market that can be entered with good rates of return.

The growth rate of small businesses varies dependent on when they are set up, where the customer need is, and how competitive the sector is becoming. (Stokes.D, 2006)

The growing rate of inhabitants in and around Stoke Mandeville means that these can be a wise place to set up a business. The amount of construction projects in this area have increased due to the government saying that they need 250,000 new homes in the south east region by 2012-2015. The areas affected for this potential construction task are especially around Stoke Mandeville and Aylesbury; this is because of the availability of new green belt sites.

According to figures on the Aylesbury Vales website there is still 430KMÐ'І of land with availability to be built on due to these current building needs. This area is approximately half of the Vales land coverage. After conducting extensive secondary research it was found that industrial units would be a sensible idea. (www.aylesburyvale.gov.uk)

Product

The reasoning behind the business idea was because of the amount of new homes to be built and then there will be more jobs needed to fill the expansion. The industrial units can be turned into offices and workshops. This will increase the amount of economic growth in the area so planning should not be hard to get and also due to the large amounts of new homes being built in the area.

It will mean that people will not need to commute that far to go to work. The units will be built on a 15 acre site, this will include the car park as well which will take up 4 acres of land. The product appeals to consumers because they can rent business accommodation that is close to a rapidly expanding area. It will appeal also to the people that will work there because it is close to where the majority of people will travel from. Potential customers will like the site for the reason that it has close transportation links and can be found easily.

It is imperative that the wants and needs of the consumer are put into a priority place because if not then the amount of business will falter. The product will be aimed at any one who owns a business and needs a place to rent for successful business to be run.

Where the product will be marketed from

This service/product will need to be marketed correctly so that the people interested in renting industrial units can find out about these. There will be advertisements in the Bucks Advertiser, which is the free paper that is put through every door each week, and the Bucks Herald, which is available to buy on Wednesdays. This will reach some of the target audience due to the large number of papers that get distributed in one week. Advertising to all the local industrial estates (Griffin Lane, Gatehouse Way, Rabans Lane and Stocklake) because there might be potential customers looking for a new place to rent. Word of mouth will hopefully be a large factor in marketing because the affordability of the industrial units. It will be affordable to entrepreneurs starting up new businesses.

External Factors and competitors

The external factors that will

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