Sarah Stream - Econ 331

Business Proposal

West Court Mall

I have always dreamed of opening my own real estate business and have recently began making steps toward being licensed to sell insurance. I have had internships with two different real estate firms, and am currently taking over my parent’s property management business. My business owns a building with multiple office spaces. In one of these offices is West Court Insurance and Real Estate. WC Real Estate division would provide multiple services such as farm management, property management, and land and home sales. WC Insurance division will provide crop, livestock, home, life and vehicle insurance. These services will be provided in one convenient stop, and eliminate the need for the customer to give personal information to more businessesacross town. For this business, I will need a partner that is more experienced in the field of insurance and operating a business such as this than I, and that can help me run the office.

The next office space within the mall is WC Liqueur and More. This is a liqueur store that will offer more variety to the town of Chariton, and is the only storefront of its kind within 25 miles. It provides a convenient alternative with more choices than the local grocery store, which is currently the only place available to purchase these types of items. I am looking to hire a manager in this business to operate the store front. I will work here on a part time basis while owning the business. This is a small business and intended to be as such, more like a hobby than anything else, while providing a necessary product to the city, eliminating the need to go out of town to get supplies. This business will have a close relationship with the local town hall and book receptions and parties. I would have to hire 1-2 more people besides my partner and me to run this business.

My next proposed store front is a one hour dry cleaning service and Laundromat. I seek a partner for this business that is experienced in wardrobe cleaning services. Again, I will partially own this business and work part time as needed to fill in. This is a service that the town of Chariton desperately needs.

The next business is WC Hair Care and Tanning. This store will provide family hair care and tanning at an extremely competitive price. I seek a partner who is capable of owning his or her own business to help me start up, and that partner will manage the office. This will likely be the first business that I sell my share to the partner, once it becomes busy. This is a field many young people are going in to, and there are an abundance of salon artists available for hire. The need for this kind of business in the town is important, as the other salons are high end, and many potential customers go out of town for this service, because of the price.

The final business associated with West Court Mall that I will explain to you is a car wash, located next door. This is a business that does not take a lot of labor. The facility is already established, and this provides one more convenience to the city of Chariton that while doing their laundry, they can go wash their car and basically visit any of these businesses. The competition for this business is a nice car wash across town, but it is not located within the business district.

Each one of these proposed businesses that open in West Court Mall are created with the purpose in mind of establishing each one, with the help of a partner, in whatever time frame is feasible. If WC Insurance and Real Estate takes a year to get on its feet, I don’t see this as a problem. These businesses will not be opened simultaneously. To start out, I will lease the open office spaces to other businesses while beginning WC Insurance and Real Estate. These leases will be on a two year contract, allowing me the possibility to manage the businesses in WC Mall and begin each of my proposed businesses as the finances come in from the other lease arrangements and the business being established. Each of these businesses will be established with the goal in mind of fast, friendly service at a competitive price, and convenience this town has never seen before. I plan to start these businesses with my proposed partners with the long-term goal (retirement) of selling each of the businesses as I see the time is right, and leasing the spaces out to other business owners, while still operating the car wash.

The intended customers of each of these businesses are residents of the area, extending from Albia to Osceola, Corydon to Knoxville, and all of the small towns in between. This is about a twenty mile radius, which I believe is a reasonable amount of time for customers to drive, since many of these businesses do not have one of similar kind south of Chariton, and the people there have to drive close to an hour.