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Page 1 of 20
Business Plan
T.C Egbuson LtdHeadquarters
2391 Main Street,
Lagos, Nigeria.
West Africa.
+2348187599447
P.O Box 15034.
Page 2 of 20
I. Table of Contents
I. Table of Contents............................................................................2
II. Executive Summary........................................................................3
III. General Company Description........................................................4
IV. Products and Services.....................................................................5
V. The Market......................................................................................6
VI. Marketing Strategy & Implementation..........................................12
VII. Management team/Personnel........................................................14
VIII.Financial Data...............................................................................15
IX. Miscellaneous...............................................................................18
Page 3 of 20
II. Executive Summary
Growing up in one of the third world countries in West Africa, it
was really burdensome trying to find, for example, a plumber if a
kitchen pipe leaked, an electric technican for basic home wiring
purposes, or a maid for house cleaning purposes etc. As a result, my
business was borne out of these experiences to make available a central
hub that easily connects consumers and customers to artisans and
specialized experts, based on respective needs, at home or in small
businesses. The profitability of the business is certain owing to the
recent improved technological conditions and influx of immigrants to
West Africa. We intend to take advantage of this and hence, further
expand to other parts of the world in the near future. This business plan
discusses the idea extensively, its perceived profitable and shows certain
financial estimations.
Page 4 of 20
III. General Company Description
• Mission Statement:
- To create a central hub that effectively bridges the gap and provides
easy accessibility between consumers and artisans/specialized
experts, based on respective needs, at home, school or the workplace.
- To foster trust and build long lasting relationships via a three way
communication between us, the consumers, and the skilled labor
force.
Company Goals and Strategy: - Short-term Goal: To use the quality of our service and advertising to
become renowned and recognized in Africa.
- Long-term Goal: To expand our services across other continents
around the globe.
- Strategy: To relentlessly work hard to provide the best services to
our clients in West Africa.
Ownership/Legal Structure
Page 5 of 20
- T.C Egbuson Ltd will be run as a Sole Proprietorship.
- All debts and libalities of the business will be my responsibility.
- Principally, income taxes will be made on profits accrued.
Facilities and Locations
- T.C Egbuson will be headquarterd in Lagos, Nigeria.
- Other locations would include: Ghana, Togo, and Kenya.
- Prospective locations include Morocco, South Africa, United
States of America, United Kingom, China and India.
IV. Products and Services (Explained).
• With a phone call or a simple click on any internet enabled
elecronic device, consumers will be able to book appointments for
miscellaneous needs, e.g plumbing, gardening, babysitting, etc,
with corresponding available time slots and ,hence, woud be
adequately matched with the appropriate merchandise.
• A service fee will be charged upon booking placement.
• Priority will be given based on selected urgency requirements and
a minimum of a 24 hour interval is required for processing of
booked appointments.
Page 6 of 20
Upon the processing of request, the customer will be contacted by the
service renderer and final arrangements can be made, if necessary.
We will effectively have competitive advantage as a result of the under-
listed factors:-
1) Convenience
2) 24/7 Customer Support
3) Feedback.
V. The Market
Research & Data
Page 7 of 20
Industry Analysis
- Target Market : Our target market will be anyone, aged 18 and older,
male or female, either of the working class or not, in need of
specialized service needs at home, school and in the workplace or any
other institution, as the need arises.
- Market Growth : Due to the exponential rise in investors and foreign
immigrants to West Africa, there has been a sporadic rise in demand
of various services by consumers, thus making market conditions
favorable.
- Communication : Owing to the reliable telecommunication and rapid,
stable internet availability across West Africa, communication, a key
business catalyst, thrives more easily allowing for a successful
market.
Economics
- The market size volume is exorbitantly large due to the vastly
increasing population in West Africa, coupled with technological
advancements and increasing immigration rates.
- We expect to have more than 75% of the market.
- Demand for our services are high due to its tremendous benefits.
Page 8 of 20
- Statistics show that population in West Africa is expected to
continue to rise steadily for the next three decades.
- There is immense growth potential and opportunity for our business
because of the incentives being given by the Government for
support of local businesses.
- Expected barriers to entry may include
o Capital costs
o Marketing costs
o Consumer awareness
o Patents
- The costs aforementioned will be overcome primarily with the use of
my personal and family finances. Awareness will be increased via
advertising strategy, and protection via patents is currently in
progress.
Product (from Customers view)
Features/Benefits.
The business’s services will be professional and built around these
main factors:
Page 9 of 20
1) Convenience to consumers.
2) Reliability.
3) Transparency.
4) Diversity
After-sale services such as warranty, service contracts, support, follow-
up, and refund policy will effectively be in place.
Customers (Demographic Profile)
Targeted customers include, but are not limited to, the following
demographic profile.
- Age: 18 & over.
- Gender: Male and Female
- Income level: Minimum earning of $50.
- Social class: Working class.
- Education: N/A.
For business customers, the demographic factors might be:
Industry (or portion of an industry): - No limitation.
Page 10 of 20
Size of firm: Minimum of 60 employees.
Quality, technology, and price preferences: Differs from company
to company
CompetitionThere is minimal competition expected due to the rare nature of this
service type. However, we would need to be aware of:
1) Michael & Co’s Ltd
Address: 6543 East College Avenue, Lagos Nigeria. 08382.
Service type: Provide urban guide in major West African cities.
Table 1: Competitive Array
KEY INDUSTRY FACTOS
Weighting Competitor Rating
Competitor Weight My rating My weight
Extensive distribution 0.4 6 2.4 3 1.2
Customer focus 0.3 5 1.4 4 1.3
Economies of scale 0.2 3 0.6 3 0.6
Product innovation 0.1 7 0.7 4 0.5
Total 1.0 20 4.9 15 3.7
Page 11 of 20
When the aforementioned success factors were weighted according to
their importance, the outcome showed that T.C.Egbuson Ltd is expected
to dominate the market.
Location
The business’s location as shown on Google Maps.
Page 12 of 20
VI. Markerting Strategy and Implementation
Product/Service Strategy
- Recurrent expansion of service catalogue to meet consumer demands.
Promotional Strategy
- Free $25 coupons and point accumulation for frequent customers i.e
usage of our services at least 5 times every month.
Pricing Strategy
- Affordable, premium prices will be effectively determined by market
forces of supply and demand.
SWOT Analysis
- Every month, the management team will gather to evaluate the
business’s success based on the SWOT analysis. Factors employed in
this analysis will include, but limited to, the business’s
1) Strengths.
2) Weaknesses
3) Opportunities
4) Threats Advertising
Page 13 of 20
To effectively promote awareness, the business will utilize the following advert methodologies.
1) Flyers (Main).2) Posters.3) Internet and referral networks.
Page 14 of 20
Future Expansion/Projection
VII. Management Team/Personnel
Prospective Partners - J.K Spiff Law Associate Inc.
- F.P & Sons Consultancy Ltd.
Recruiting/Workforce - 100 employees.
- Hiring will occur on a rolling basis.
- Interns will be recruited after two years of operation and will be re-invited if satisfactory progress is achieved upon evaluation.
Departmental Hierarchy
1) Executive Officer
Page 15 of 20
2) General Manager
a) Finance director
- Tax and Payroll
b) Superintendent
- Recruiting/Miscellaneous
VIII. Financial Data
Fig 1. Projected Profit/Loss Statement.
Page 17 of 20
Fig 3. Break-Even Analysis
Sale projections were made from a sales forecast, which included,
but not limited to, sales, cost of goods sold, expenses, and profit month-
by-month for one year. Consequently, a high turnover and projected
profit of about $60,000 in the first year of operation was forecasted.
Based off this, further projections were made for the next three
years and a trend of relatively a 2.5% increased profit from the previous
Page 18 of 20
year was observed. Therefore, after three years after commencement, a
7.5% profit is expected. Major assumptions were made which included
when cash would be collected after making sales, mode of payment
when inventory or materials are purchased, and irregular expenses such
as quarterly tax payments, maintenance and repairs, or seasonal
inventory buildup.
Furthermore, fixed and start–up costs were effectively determined
(about $10,000) and a break-even analysis showed that about $11,450
worth of sales will be needed to pay off all fixed costs and have a zero
income.
IX. Appendices
Additional documents to be attached include:
Brochures
Industry studies
Blueprints and plans
Magazine or other articles
Detailed lists of equipment owned or to be purchased
Copies of leases and contracts
Letters of support from future customers
Page 19 of 20
Any other materials needed to support the assumptions in this plan
Market research studies
List of assets available as collateral for a loan.
Facility Diagram
Resume