Business Plan for a Concrete Polishing Company
Business plan for establishing concrete polishing company in Sydney Australia
Concrete polishing company, Sydney, plans to become a leader in providing concrete polishing services in the city. The company plans to do this by having the best facilities and human resource with experience in the industry. Plans are set to counter competition from existing companies by a continuous improvement of processes. Measuring standards of performance and evaluation of results that will enable the growth of the company are the main targets. Concrete polishing company, Sydney plans to develop a sophisticated framework and organization from the current complex construction systems. The system developed will be adapted to almost any construction requirements of clients.
The business targets to have qualified and experienced staffs that are creative and innovative. Creativity will enable the designing of custom components that are necessary a formwork package. The use of concrete flooring was traditionally used in places where utility, durability and the ease of cleaning are important than beauty and design (Concretech One, 2013). This perception has changed, and various materials are now available for home and office designs. The company targets the gap in the market to develop marketing alliances with existing companies, and latter pursue new sales of its services to commercial and residential builders.
Concrete polishing company, Sydney, plans to use a direct sales force method and relationship selling to reach the market. The market channels above are fast and reduce the time requirements and uses less capital. The methods are appropriate as they reach established market channels fast. Financial sources to consider are loans from specific financial institutions in the city. From the small capital outlay and the size of the company, the company projects low returns within the first year of operation. Projections show high returns from the second and third year of operation.
Business description
Many companies providing polishing services in various capacities flood concrete polishing industry in Sydney. The industry comprises of both small and well-established companies that undertake the services from various locations of the city. Competition, especially from well-established companies is stiff. Cost of operation is also high due to government taxation and the current costs of construction. Apart from the availability of many operators in this industry, the market has a wide gap. There are high possibilities of future expansion and growth for a company that effectively carry out its operations. The market is big from both new developers and old constructions requiring renovations. Concrete polishing company, Sydney has a potential for growth in this market. The company highly focuses on the commercial and residential market due to the gap left by other operators in the industry. Through designing of new and suitable materials for residential and commercial construction, Sydney polishing company will have a better share of the market. By coming up with unique styles and facilities, the company will have a competitive advantage over many operators in the industry. A small initial capital outlay and the small size of the company will adversely affect the operations of the company. This is because; competitors are strong and have experience in the sector. Operators in the industry are focusing mainly in the industrial sector market. Most polishing companies provide and design their services to suit the requirements of upcoming industries and old ones that renovate their concrete floors. Concrete polishing company, Sydney, targets to form alliances with residential and commercial construction companies in order to venture the market easily. This side of the market is the gap left by many operators in the concrete polishing industry in Sydney. Concrete polishing company, Sydney also looks ahead to obtaining tenders and contracts from well-established construction companies from all parts of the city and beyond.
Market Strategies
In venturing the polishing industry, the company directs much of its attention to the residential and commercial construction and renovation. The company’s strategy is to develop quality, unique and attractive materials that will draw many clients. Use of sophisticated equipments and other facilities can produce a good result for the market. The company targets new commercial and residential developers in much of its operations during the startup period. As one of strategies to penetrate the market, the company plans to use modern styles of polishing that are in relation to latest constructions. The organization defines a clear marketing objectives and ways of achieving the goals.
In developing this strategy, the company defines clear aims and objectives around which the framework for policy will be developed (The times 100, p.2013). In strategizing its tactics to tackle the market, the company will deal with production and services provision of colored concretes and floor polishing systems. It will also provide micro toppings, anti-dusting treatments and floor hardening systems. These services are on high demand especially in residential and commercial sectors, which is the main target of the company. The company aims to deliver most quality-flooring environment in offices, retail outfits and homes. The company strategizes to provide other demanded services that are not fully provide by other companies or their standards are low. As a market strategy, the company plans to offer services and products in time and in a manner that is suitable to a client’s specifications. The company also plans to offer tailor made services and products to its clients when in need. The use of direct sales and relationship methods to get in the marketing channels is a strategy set by the company.
Competitive analysis and marketing plan
Concrete polishing company, Sidney, plans to use its competitive advantage in using sophisticated facilities to provide quality products and services. The company has a competitive advantage due to specialization in few products and sectors. This specialization will enable the production and delivering of quality products and services. Specialization is advantageous to the company as it simplifies management of the business and cut down the cost of operation. Concrete polishing company, Sydney, plans a low cost solid marketing plan for its products and services. The marketing plan set puts an eye on the returns on investment and profitability of the company in the short run. Marketing campaigns start while still developing products and services of the company. The marketing plan involves placing products in different stores located in different places.
This has the advantage of creating awareness about the products to different people. One group of people may like the product than the other. In advertising of the products, advertisements will target to convince potential clients why the need the products. Marketing through advertising will be on low cost media such as news articles, magazines, radio and TV stations. Marketing plans will target the sectors that the company considers to focus on. These include residential and commercial sectors. As a marketing plan, the company will design brochures and workshops to display the company’s products. Evaluation of the marketing processes will be over time. Evaluation aims to note the changes in the market base and customers’ expectations. Marketing plans will seek testimonials and perceptions of people about the product. A launch date will be necessary for the company to announce the official release of the product to the market. Sound marketing plan will ensure a fast penetration of the products and services in the target market.
Operation and management plan
The company aims to lower the cost of operations and management. The management of the company will comprise of few individuals carrying out lay down responsibilities. The management has to handle challenges facing the company such as financing, delivering and marketing of the products and services. Operations and management of the company include networking the business activities of the company. Management of inventory and dissemination of the right information to all levels of the organization is also a managerial role. Operations of the business include production of concrete materials that the company plans to produce. Obtaining of raw materials and offering services to clients in the right manner and order is also management. The success of the organization highly depends on the effort of management to plan and prescribe the right order of activities.
Innovation and creativity of the management will enable the company to be relevant in the market for a longer period. According to Hatten (2011), the management team of a small company that is not innovative risks being behind in the market for its products and services. Sound and efficient management of the company will help reduce wastage of resources that can be of productive use. Quality management will facilitate the availability of funds for various activities that are beneficial to the company. External financiers will also be encourage to offer financial assistance if the management proves to be efficient. Management should be able to carry out their functions in order to set the best example to the subordinates. The management will aim to cut down the cost and expenditure to ensure the firm penetrates the market especially during the start up period. Unnecessary operations that do not bring immediate benefits to the company will be out until the firm gain ground and market share.
Financial factors
The company will consider various ways of raising capital. Among the ways available, the company will consider the ease of obtaining this capital and cost. For the company at its start up level, the method of obtaining capital should not be a burden. There are many factors to consider before raising capital. Amount of capital required determines the source. Not all financiers will be able to offer a large capital to the company. The size of the company and the number of operations in the plan will also determine the amount of capital required. The decision to raise capital from a particular source will is influenced by the cost in returning and the duration. The company will consider taking a considerable size of loan from a bank or financial institution that will cater for all operations. The budget of the company will be as follows:
Budget: Total amount of capital available: U.S. $200,00O.
Total cost of equipments: 50,000
Rent for office and production premises: 5,000
Cost of raw materials and transport: 70,000
Cost of transport and distribution of final products: 10,000
Marketing and advertisement: 20,000
Stationery expenses: 1,000
Salaries of employees: 20,000
Government taxation and licensing: 20,000
Other expenses and charges: 4,000
The management will adhere to the budget and ensure total control of the funds as allocated by the budget.
Design and development plan
The company has specialized in the production and offering of services in relation to three products. The products are colored concrete, floor polishing systems, micro toppings, anti-dust treatment and floor hardening systems. Market analysis shows the above products to be in high demand especially in the target markets. The company targets a fast growth rate after the second year of operation. The company plans to achieve this through accountability and hard work. Standards of quality and clients’ satisfaction are the aim of the organization. Increase in production and widening of the market for the products and services will be the target of the company. The organization will do this by increasing its budget to be able to produce and market itself more. The number of concrete products will also increase to meet the demand of the market. Increase in the quality of products and services are a key factor in the company’s development plan. The company will consider rebranding its products and descriptions in order to be relevant in the market and maintain its uniqueness. Alternative ways of raising capital and other resources will help to reduce budget constraints in the development of the company. Management will focus in self-sufficiency of the company and raise funds through internal means. This will help cut down the cost of operations due to loan servicing and related expenses. Company management is optimistic that no or minimal external and unavoidable factors will hinder the operations of the company.
References
Hatten, S.T. 2011. Small business management: Entrepreneurship and beyond. United States of America: Nelson education ltd.
Abrams, R. 2003.The Successful business plan: Secrets and strategies.4th edition. Palo Alteco: Planning shop.
The Times 100. 2023. Business case studies. ( online) Available: http://www.thetimes100.com.( 27th July 2013).
Concete one. 2013. Usage of concrete floor. ( online). Available: http://www/concreteone.com.au.( 27th July 2013).
Hunter, S.W. 2005. Creative ornaments for gareden. New York: Lark bocks.
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