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The Different Aspects of the Business Plan for a New Startup Company

Essay by   •  March 28, 2016  •  Business Plan  •  4,678 Words (19 Pages)  •  1,110 Views

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Table of Contents

  1. Executive Summary        
  2. Company Description        

Company Profile

Description

Mission and Vision

Company Ownership/Legal Entity

  1. Product Description        4
  2. Industry Analysis        4

Industry Description

PESTL Analysis

  1. Market Analysis        5

Market Segmentation, Target Market, and Positioning

Buying Decision

Competitors

SWOT Analysis

Competitive Analysis Grid

Product-Branding Strategy

  1. Marketing Plan        11

Products

Distribution (Place)

Price

Promotion Strategy

Sales Process and Sales Tactics

  1. Operations Plan        12
  2. Design and Development Plan        13
  3. Management and Personnel        14
  4. Schedule        15
  5. Risks and Overcome        17
  6. Financial Plan        18
  7. Appendix        19

Executive Summary

This document will be discussing the different aspects of the business plan for a new startup company which is about creating a unique furniture manufacturing shop in Egypt. This company would like to be the first to introduce the idea of expandable furniture in Egypt. Expandable furniture is based around the idea of making essential pieces of furniture which can be folded or expanded so it can fit in relatively small spaces without compromising the design of the furniture or using a large space at the same time. Moreover, expandable furniture is about using a certain piece of furniture for several different purposes. The name of our shop would be “Smart Design” which means creating furniture with smart multi-purpose designs that fit in small spaces. The idea was brought up since it is believed that it is certainly a good opportunity to have a startup project that is highly unique and also highly required in the Egyptian market and is very likely to grow and nurture in the future.         

The company’s main value intention is producing high quality furniture that is to be used for more than one purpose in order to save space in houses and that is what distinguishes Smart Design from its other competitors in the market. Moreover, the main objective is to raise awareness to the products which Smart Design offers since it is recently introduced to the Egyptian market. Therefore, several promotional ways that will be used to achieve this objective will be discussed throughout the paper.  Moreover, the market will be analyzed thoroughly with all opportunities and threats in order to develop the best tactical business plan based on the company’s and customers’ needs and requirements.

Company Description

Company Profile

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Description

Smart Design is the next new solution to deliver luxurious and smart solutions to small residential spaces, to fully take advantage of the available space without having to give up on buying some of the essential furniture pieces because it would occupy a large space. The company provides customers with different designs for expandable furniture that is made to fit small places, with some beauty aspects in the furniture design to make it appealing even if it is folded or not used. Customers would be able to choose from furniture catalogs made by the company, or provide the sizes, dimensions, and design of the furniture piece they would like to buy in order to be created for them.

Mission and Vision

Mission

“To provide, smart, affordable, and unique designs to people who wish to cleverly manage their houses and/or offices.”

Vision

“Luxurious and smart designs for every small space.”

Company Ownership/Legal Entity

The company would belong to the private sector of the market, it would not be operated by the government and would be operating by the three original founders of the business.

Product Description

The idea behind the business is using expandable furniture to save space, or to smartly manage small spaces. The designs for expandable furniture had a very modest start, appearing along with furniture shops that provide modern furniture that is usually imported from Europe or the US. The company would introduce the idea of modern designs of expandable furniture in terms of the needs and preferences of the Egyptian community at very competitive prices. The most important aspect is that people with small spaces can have modern furniture designs that would fit the spaces they have. Products that the company offers varies from wall bed sofas, coffee-to-dining tables, to modular wall shelves and extra storage spaces beds and folding chairs.

  • Coffee-to-Dining tables

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  • Console-to-dining tables

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  • Wall bed sofa

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  • Revolving wall bed

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  • Folding chairs

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Industry Overview

Industry Description

According to Furnex Egypt-Egypt’s international furniture and furnishings trade fair -the furniture industry is one of the vast growing industrial sectors in the Egyptian market, with a seven folds increase in exports in nine years starting 2004. With an organized structure that includes other complementary industries that contribute in the furniture industry. In addition, the furniture industry managed to accommodate the growing local market needs, embracing almost 120,000 establishments, and a productive labor force of more than one million skilled workers. Furthermore, furniture industry in Egypt is now operating on the same level of European standards, with two technology and testing centers in Egypt obtaining accreditations from FIRA of UK and CATAS of Italy. While Egypt now has strong roots in the furniture industry worldwide, there are also plans to maintain the local growing market in terms of real estate communities under construction, satellite cities, mega projects and touristic developments. For example, in the last three years many new factories were constructed in the cities of Damietta, 10th of Ramadan and other suburbs of greater Cairo.

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