THE BUSINESS PLAN
I. DESCRIPTION OF BUSINESS
i. DEFINITION
H2o Web Development Station, established in January 2001, provides the basic necessities to assist other businesses and companies to establish a professional looking webpage in Toronto. It is a new independent business based on sole proprietorship. On the job, I will be using the state-of-the-art computer technology to bring forth my creativity and organization skills. My operating hours will begin at nine and will end at five from Monday to Friday. On Saturdays, I will work half a day, from nine until twelve-thirty. I belief that my business will be profitable since I will be playing a crucial part in a company's success. As my business expands, I have goals of getting notice in the market, receive better offers from larger companies, and possibly establish a small firm. For the time being, my main objective is to earn a few thousand dollars within three months time. I am confident in achieving this goal based on my ideas, my experience, and having the advantage of being bilingual. These traits will ensure me to meet customer deadlines and demands.
ii. PROVIDED SERVICE
H2o Web Development Station offers two basic categories of services to their customers. The customers consists of retailers, small, or large companies. Each group has the option of purchasing the same types of services. Standard websites and other web services can be purchased under the basis of a contract. A standard website will be constructed with basic HTML and it will include 5 additional pages all hyperlinked together with full colour graphics, text, and full graphical button interface. Other web services include: upgrades or enhancements with Advanced HTML, or simple Java Script, or Macromedia Flash, Custom Design, Image Maps, Regular Monthly Updates, Search Engine Submission, Animated Image and Banner Creation, and Photo Effects/ Manipulation. It is also important to note that these webpages can be done customized. We offer innovative, yet cost-effective webpage designs and development solutions that stand out from the crowd.
iii. TARGET MARKET
H2o Web Development Station will specifically target the following:
Target # 1:
Retailers
Who: All new and existing retailers. (E.g. Smart Maple, Gap, Loblaws, etc.)
Goal: At least one client.
Target # 2:
Franchises
Who: All new and existing franchises. (E.g.: McDonalds, Burger King, Ten Ren, etc.)
Goal: At least one client.
Target # 3:
Small and Large Companies
Who: All new and existing small and large companies. (E.g.: Hague, Culligan, Clarica, etc.)
Goal: At least two to three clients.
One crucial benefit that my service brings is communications. Something as simple as a webpage may help my clients gain good publicity, an even better reputation, and perhaps more customers. When consumers see a well-plotted and designed webpage, they will automatically trust the company. And their customers can communicate and interact with the target group thus improving their services based on customer suggestions. For example, Mr. A wants to make a big purchase on office programs. He has the choice between Microsoft Office 2000 and the latest Corel WordPerfect Suite. Mr. A doesn't know which one to buy, so he decided to visit both of their websites. Finally, he decided to purchase Office 2000 because it offered everything he needed and the site had much more detailed and organized information. This is like a three-in-one deal at a good and reasonable price.
iv. COMPETITION
H2o Web Development Station currently has four main competitors in the local area; namely, All Best Web, Cyber Pro, Digital Rain, and Digital Eyes. They all have well-developed websites. All Best Web interacts with clients over the internet by using layouts/portfolios, voice chat, their member’s area, bulletin boards, internet translator, and using password protection. Instead of listing out their prices, they have a form in which you fill out and they will reply you with an estimated quote. It is good for customers who want a more precised quotation. However, a lot of customers may be too lazy to fill out that form. Cyber Pro has a very good portfolio, but that’s all they provide their consumers. Apparently, if consumers like their work, they will have to e-mail them for further information. Meanwhile, Digital Rain offers services that are way beyond what I am capable of doing. Other than e-commerce and net applications, they help companies produce interactive CD-Roms and other virtual reality games. Their service is also similar to Digital Eyes, who offers a lot of other marketing services. They claim that they will come up with spectacular websites, virtual tours, online presentations, e-commerce, search engine positioning, print promotional material, and traffic analysis. Once my business settles in, I plan to expand and improve my business by interacting with customers over the internet by using voice chat and net translators. I believe that it is a good idea because I can be making business outside my local area.
v. MARKETING STRATEGY
In the promotion of my services, I plan to create a customer-oriented and high-quality theme. They will feel worthwhile and secure to spend their money on my service. We will use the following advertising and promotional sources: production of transparent business cards, personal contacts, door-to-door flyer campaign, establish my own website, the newspaper, and the Yellow Pages. I will also start a customer referral program. If one of my clients can refer to another client, then I’ll reduce $75 off the bill. The media I have chosen are the most effective since they are very economical and are listed in places where my target groups can view them. Transparent cards will stand out from the regular white business cards, especially when I distribute them during personal contacts. The transparency will distinctly help my clients to remember me. Meanwhile, a door-to-door flyer campaign will notify new or existing business owners or company managers about my worthwhile service. And on the flyer, I will have a $50 reduction coupon that they can use. They can also have a sample of my work or gather more information at my website. The newspaper will help notify more businessmen and companies that ignores flyers. The Toronto Star and the Yellow Pages will list my service throughout the entire city. Every time someone flips through the Yellow Pages, there is a chance of my ad being exposed. Also, many individuals and companies browse through the Yellow Pages when they are in search of a service. (For example, webpage development.) Thus, there are at least 400 000 purchased copies of the Toronto Star each day. With my referral program, it will help me gain more business since all business owners like to cut down on their expenses as much as possible. The following is a blue print of my business card, a copy of my flyer, and the layout of my webpage.
Blue print of my business card.
A copy of my flyer.
The layout of my webpage.
vi. LOCATION
I will be selling and running my service at home. There, I will be fully equipped with a computer, software, internet service, paper, etc. Also, the area is very desirable because I have exactly enough space to work with. Since I live on Finch and McNicoll, public transportation is just right around the block. Working at home will allow me to cut down some of my expenses.
vii. PRICING
The following is our basic quote list. Costs may vary per customer depending on the number of pages required, the amount of content provided by the client, and the complexity of the required design.
SERVICE / PRICEØ Standard Websites:
Includes: - Front page
- 3 additional pages all hyper-linked together with full graphics, text, and full graphical button interface
- Basic HTML / $550.00
Ø Advanced HTML / + $50.00
Ø Enhanced with Macromedia Flash / + $150.00
Ø Enhanced with Java Script Mouse Rollovers / + $15.00
Ø Custom Design / + $250.00
Ø Additional Pages / + $125.00
Ø Image Maps / + $150.00
Ø Regular Monthly Updates / + $100.00
Ø Search Engine Submission (Publicity) / + $55.00/ month
Ø Animated Image and Banner Creation / + $50
Ø Photo Effects/ Manipulation / + $25/ hour
viii. QUESTIONAIRE
The following are questions I would like to ask business owners who are over 18.
1. How much do you think an owner will spend for publicity or promotional activities on the internet?
2. As an owner and customer, who makes purchasing decisions, what will attract you to let one earn your business? (e.g: special offers, quality products, skills, etc.)
3. If my business is not doing as well as I thought it will, when do I know to stop?
4.
II. TO DO LIST
q Register business name and trade marks
q Make a workable system of records management
q Set up a practical time table for completion (to finish up the end product)
q Establish a procedure to collect your receiveables
q Establish/make contracts
q Stay updated with other competitors
q Keep track of advertising media
q Produce transparent business cards
q Design/produce flyers
q Establish business website
q Call the Star and the Yellow Pages
q Find customers for personal contact (look in phone book)
8