Introductory Page.docx

7/27/2019 Introductory Page.docx

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Final Project of Entrepreneurship

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Introductory Page

Name of Business:

Auto Mobile Workshop

Address of Business:

Main Edgerton Road Lahore,

Name of Principal:

Address of Principal:

Nature of Business:

Provide auto mobile workshop services to our customer without

exception.


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Statement of Financing Needed:

We need finance of Rs. 2.5 Million

8 million for Vehicle purchase

2 million for

Statement of confidentiality of report:


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Executive Summary

The need for a full service automotive center with competent and trusting mechanics is always

there. Chuck Liepshur and Rich Rudy have built, and are still accumulating, a clientele that has

followed them from location to location through promotions and careers. These clients are loyal

and will continue to follow LR Automotive, when we move to our new location.

With advertising in local newspapers, mailers and handbills, business should increase by a

margin of 10% annually. People are always looking for an honest auto repair facility which is

committed to customer service, reliability and promptness. By being fully committed to our

clients, our customer base will increase and will provide a stable ground for our business to

grow.

Industry Analysis:

Reports provide in-depth industry analysis and five-year growth forecasts, with special focus on

the underlying structure and external forces and relationships that affect industries and their

performance. Report sections include:

Future outlook and Trend:

The size and importance of the automotive industry have created many opportunities for people

to get involved. According to the Franchise Business Economic Outlook 2011, automotive

franchise establishments are expected to increase 3.9% from the previous year. General

automotive industry trends and an improving economy are revealing opportunities for anyone

with a passion in the auto industry to get involved.


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Analysis of Competitors:

AR faces over 400 auto repair and auto parts competitors in the local area. Only a quarter of these

competitors offer both auto repair services and auto parts inventories. Among these, only a few are major

national chains. The remainder is small privately-owned establishments. AR will compete well byfocusing on convenience and offering a high level of customer service. Additionally, its honest reputation

will be a major factor in repeat business and building a large base of regular, loyal customers

Market forecast:

After another year of record sales in 2012, the automotive will face a significant set of challenges in

2013 and beyond. From a geographic point of view, many of the most important markets are showing

markedly different performance. What are the challenges in these markets and how should industry

participants position themselves to manage risks and maximize rewards? From a technology point of

view, emissions legislation is changing the global powertrain landscape.

Description of venture:

Service:

Services Provided by on the spot all customers

Size of business

Small size of Business or Partnership Business

Office Equipment and personnel:

Furnitures and other Equipment are uses


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Background of Entrepreneur:

Bank loans and other personal investment

Physical Location

Physical Location are Available onMain Edgerton Road Lahore

Operations plan:

Operational planning is the process of linking strategic goals and objectives to tactical goals and

objectives. It describes milestones, conditions for success and explains how, or what portion of, a

strategic plan will be put into operation during a given operational period, in the case of commercialapplication, a fiscal year or another given budgetary term. An operational plan is the basis for, and

justification of an annual operating budget request. Therefore, a five-year strategic plan would typically

require five operational plans funded by five operating budgets.

Description of companys operation

Flow of order for Services

Technology utilization


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Marketing plan

Pricing

products orservicesencompass three main ways to improve profits. These are

that the business owner can cut costs or sell more, or find more profit with a better pricing

strategy. When costs are already at their lowest and sales are hard to find, adopting a better

pricing strategy is a key option to stay viable.

Distribution

One of the four elements of the marketing mix. Distribution is the process of making a product

or service available for use or consumption by a consumer or business user, using direct means,

or using indirect means with intermediaries.

Promotion

One of the market mix elements, and a term used frequently in marketing. The specification offive promotional mix or promotional plan. These elements are personal selling, advertising, sales

promotion, direct marketing, and publicity. A promotional mix specifies how much attention to

pay to each of the five subcategories, and how much money to budget for each. A promotional

plan can have a wide range of objectives, including: sales increases, new product acceptance,creation ofbrand equity, positioning, competitive retaliations, or creation of a corporate image.

Fundamentally, however there are three basic objectives of promotion. These are

1. To present information to consumers as well as others.2. To increase demand.3. To differentiate a product.

There are different ways to promote a product in different areas of media. Promoters use internet

advertisement, special events, endorsements, and newspapers to advertise their product. Many

times with the purchase of a product there is an incentive like discounts, free items, or a contest.

This is to increase the sales of a given product.
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Product forecasts

The science of predicting the degree of success a new product will

enjoy in the marketplace. To do this, the forecasting model must take into account such things as

product awareness, distribution, price, fulfilling unmeet needs and competitive alternatives.

Control:

In this economic climate, its easy to feel out of control. Profits are down, clients aredisappearing, and right when you need the most help, your budget is cut. But instead of throwing

your hands up and blaming the state of the nation, take responsibility for your future. Ignore thebad news and take action now to make the most of your business.

Yes, profits may be down. But do you know why? Does your product or service really meet your

clients needs?Paul Zane Pilzer says too many business owners get set in a pattern andforget to adapt to changing markets or demographics.Other business owners are simply

running the business thats convenient or economical, without ever determining if its the rightfit for their skill set and talents.

If youre like most business leaders, you are inundated with e-mail, phone calls and scheduledmeetings that usurp your valuable time. You have a tough time keeping your head above water,

much less innovating to stay ahead of the competition.Before you get flooded by the details,

Stephen R. Covey helps you take a look at whats really important to you and your

business.

Sales have slumped almost across the board. This is a perfect time to reevaluate your approach.Stellar sales dont happen overnight; you need preparation and cooperation from the entire team.

Let Jeffrey Gitomer help you get prepped.

If your brand isnt reaching consumers, youve got to spend some time on marketing, getting theword out about your product or service. And despite budget cuts, its vital now more than ever to
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make sure that the public sees you as the go-to source.Gary Vaynerchuk helps you get brand-

savvy.And if youre truly serious about building your business, networking is a must.Harvey

Mackay says its all about who you know.

Once you get the clients in the door, customer service is the way to keep them, says KenBlanchard.Do you have a way to measure your customer service success? Is every member of

your team a part of the customer service plan of action?

The economy may be in a slump, but your business success is still within your control. Its timeto take the reins.

Organizational plan

Form of Ownership

Identification of Partners or Principal shareholder:

Authority of Principals

If a policeman came up to you in the street and told you to move out of the street as there was aparade starting, would you go? What if the policeman said you fitted the description of someone

who was wanted for burglary, and that you should go with them to clear this up, would you go?

In fact most people would obey unquestioningly, which is a fact well known by confidence

tricksters. We see the uniform and never dream to question the possibility that the policeman

may not, in fact, be a policeman.
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The double bind of authority is that not only are we compelled to obey it, but we are not evenpermitted to challenge it. This makes it a very powerful persuasion principle.

Management Team Background:

Role and Responsibilities of members of organization

Assessment of RisK

The determination ofquantitative orqualitative value of risk related to a concrete situation and a

recognized threat (also called hazard). Quantitative risk assessmentrequires calculations of twocomponents ofrisk(R):, the magnitude of the potential loss (L), and the probability (p) that the loss will

occur. In all types of engineering of complex systems sophisticated risk assessments are often made

within Safety engineering and Reliability engineering when it concerns threats to life, environment or

machine functioning. The nuclear, aerospace, oil, rail and military industries have a long history of

dealing with risk assessment. Also, medical, hospital, and food industries control risks and perform risk

assessments on a continual basis. Methods for assessment of risk may differ between industries and

whether it pertains to general financial decisions or environmental, ecological, or public health risk

assessment.

Evaluate weakness of Business

You on your way to starting a small business in the near future? Do you already own a businessand have a list of goals to take it to the next level? Are you contemplating incorporating new

revenue streams to help grow your bottom line? Or maybe youre thinking about tapping into a

new niche?
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No matter what your goals are, they should always be approached with a plan and a strategy. Itmakes for a good story when spontaneous actions work out, but the likelihood of having a

glamorous story with this tactic is few and far between. Each of your ventures should be

positioned with the highest probability to succeed and taking specific measures early on can

make it happen.

A SWOT analysis is an effective and efficient way to evaluate the Strengths, Weaknesses,Opportunities and Threats inherent in your next business venture or project. It gives you an

organized framework to think about key objectives in light of internal and external factors. You

can weigh the factors that are favorable, and more importantly, unfavorable as you strategize anddetermine your plan for a profitable future.

Here is what you should consider under each element of the analysis:

Strengths. What does your business do best? What gives it its edge? Why do customers

choose you? What factors help you close the deal? As you answer these questions, youllnotice that youll not only look inward but youll also consider external perceptions as you

evaluate how the market views your brand.

Weaknesses. What are some areas of improvement? What do most competitors do better?

What are some customers needs that you havent yet addressed? What should you completely

avoid? Admitting areas of improvement is never easy but honesty allows you to get help in theseareas and focus on where you excel.

Opportunities. What is happening in the market? What are some trends that you can benefitfrom? Are consumers tastes in line with what services or products you offer? Find out what

needs are not being met and think of how you can provide solutions. Get outside of your ownhead and business, reach out to others, find out what is happening and more importantly, find outwhats next. Create ways to be innovative.

Threats. What are some things in the market that you should be mindful of? Is the marketalready saturated with major competitors providing the same services and products? Are there

laws and regulations that will make it difficult for your business to continue? Are technological

changes threatening how youve always done business?

Additional Tips:- Create your objective after youve created and evaluated your SWOT Analysis. Youll have

more insight and direction this way.- As you create a list under each section, prioritize them. Some things will definitely be more

time-sensitive than others.

- Match your strengths with opportunities and also find ways to convert weaknesses intostrengths.


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You can create a SWOT analysis alone or you can make it a team-building exercise and leverageoff the insights of other people in your business. In groups, it not only provides an opportunity

to get everyone on the same page but it also lays the foundation for a shared vision.

When you keep a big-pictureperspective and youre honest about all likelihoods, you develop amore realistic sense of expectations and you are better prepared. A SWOT analysis can help you

narrow your focus, avoid pitfalls, develop a plan based on what is realistically attainable andimplement a strategy. As an added bonus, you get insight about your positioning and direction in

the market.

New Technologies

Contingency Plans

A contingency plan is a plan devised for an outcome other than in the usual (expected) plan.[1]

It is often used forrisk management when an exceptional risk that, though unlikely, would have

catastrophic consequences. Contingency plans are often devised by governments orbusinesses.

For example, suppose many employees of a company are traveling together on an aircraft whichcrashes, killing all aboard. The company could be severely strained or even ruined by such a

loss. Accordingly, many companies have procedures to follow in the event of such a disaster.

The plan may also include standing policies to mitigate a disaster's potential impact, such asrequiring employees to travel separately or limiting the number of employees on any one aircraft.

During times of crisis, contingency plans are often developed to explore and prepare for any

eventuality. During the Cold War, many governments made contingency plans to protectthemselves and their citizens from nuclear attack. Examples of contingency plans designed to

inform citizens of how to survive a nuclear attack are the bookletsSurvival Under Atomic Attack,

Protect and Survive, andFallout Protection, which were issued by the British and Americangovernments. Today there are still contingency plans in place to deal with terrorist attacks or

other catastrophes.
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Financial plan:

Pro forma of Income statement

Pro forma of Cash flow:


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Pro forma Balance sheet

Break Even Analysis

Sources and Applications of Funds

Appendix (contains backup materials)

Letters

Market Research Data

Leases or Contracts

Price List from suppliers.sss


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Documents

Introductory Page.docx