QUESTION
You intend to start a new business in your local community. To increase your chances of getting the funds for your business, you need to complete the business plan.
Complete an executive summary for your business plan. Cover the following topics:
1, A brief description of your business
2, The business objectives you want to achieve in the next five years. Mention two objectives.
3, The funding needs, including own and loan capital requirements for your business enterprise.
1, Business Description
An effective business description should provide readers with clear insights into your company’s operations, its leadership structure, and the key factors driving its success. Additionally, it should highlight what makes you stand out from your competitors and why customers will choose your products or services over others. It should contain the following
Based on the above guidelines, the business description of Hope Dry Cleaners may be written as follows
Hope Dry Cleaners is a dedicated laundry service provider committed to delivering exceptional quality and convenient dry cleaning services to its customers. Our mission is to alleviate the burden of laundry chores for individuals and families, allowing them to focus on more important aspects of their lives.
Our main product lines and services include:
a, Dry Cleaning:
Unlike our competitors.Hope Dry Cleaners, utilizes advanced cleaning techniques and eco-friendly solvents to remove stains and odours from delicate fabrics, ensuring garments look and feel new.
b. Laundry Washing and Folding:
Our expert team handles all types of laundry, from everyday wear to speciality items, providing thorough washing and meticulous folding for a professional finish.
c, Pressing and Ironing:
We offer precise pressing and ironing services to maintain the crispness and neatness of clothing, ensuring our customers always look their best.
d, Alterations and Repairs:
In addition to cleaning and pressing, we provide alteration and repair services to address any fit or structural issues, prolonging the lifespan of garments.
Location and business structure
Hope Dry Cleaners is strategically located in a high-traffic area of Honeydew, and easily accessible to both residential and commercial customers. Our centralized location allows us to serve a broad customer base while maintaining competitive pricing efficiently.
Hope Dry Cleaners is registered as a limited liability company and family-owned.
2, The business objectives,
A business objective is an actionable step taken to make improvements toward growth
Hope Dry Cleaners has set itself the following objectives
1, Increase the number of loyal customers by 20% annually through targeted marketing campaigns, excellent service quality, and word-of-mouth referrals. Hope Dry Cleaners will implement customer loyalty programs and maintain high satisfaction levels to enable this growth.
2, expand the company’s operations into two additional provinces or regions. This will allow, the company to tap into new markets, increase its customer base, and diversify its revenue streams.
3, Introduce new services and product lines to cater to evolving customer needs and preferences, by offering additional speciality cleaning services, such as leather and suede cleaning, as well as garment repair and restoration services.
4, Actively participate in community events and initiatives to strengthen brand awareness and foster goodwill within the local community by sponsoring local events, partnering with nonprofit organizations, and organizing charity drives
Business description
Entrepreneurship and Business Management N4 Past exam Papers | Market segments
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