Product or service
The business that I have decided to set up is called Cherry Kennels and it is a boarding kennels, providing care for both cats and dogs whilst their owners are away on holidays or business trips etc. There will be roughly about 50 kennels available for dogs and 50 kennels available for cats. As well as being boarding kennels Cherry kennels will also provide to grooming parlours with highly trained groomers, 1 for cats and 1 for dogs.
The grooming will include washing, cutting, pampering and there are even cat and dog accessories available for purchase to increase income. My business will be in the private sector as I will own the business. I will be a sole proprietor because I will own and control Cherry Kennels and my employees. The benefits of being a sole proprietor are that I am my own boss and therefore I make all the decisions, I wont need that much capital to start up my business and I can come and go as I please. The major draw back from being a sole proprietor is that I will have unlimited liability and I could lose everything that I own if the business fails.
There are three types of industrial sectors that a business can come under. These are primary, secondary and tertiary. A primary business makes use of natural resources, for example fishing, mining, forestry and farming. These all involve taking something from the land itself. A secondary business is the second stage in production, where goods are manufactured or processed. It involves changing raw materials from a primary business into goods and products. Tertiary businesses are the third and final stage in production. It supplies services and products to other industries or to the public. My business, Cherry Kennels, will be a tertiary business as I will be providing a service to the general public who want their cats and dogs looked after. Cherry Kennels will be a business organisation as I intend to make a profit from it.
I will have to employ about 15 members of full time staff in total. Ten employees taking care of the cats and dogs, this includes feeding walking and keeping kennels clean. These employees do not need any skills just to be able to handle cats and dogs well. Two receptionists will need to be employed to take care of bookings and customer enquiries. Two groomers who have to be specialised in grooming cats and dogs, and one grooming assistant to help out with the groomers.
Aims & Objectives
Aims are targets that you are trying to achieve and objectives are how you are going to achieve your aims. To have a successful business I need to have lots of aims and objectives. As I am a business organisation my main aim of the business is to make a large profit. At the same time though I want to create a healthy environment for the cats and dogs, taking good care of them and keeping customers happy. I will achieve this by hiring highly trained and dedicated staff. Through keeping the customers happy I can gain more profit as they will recommend us to other people and come back again themselves.
Strengths & Weaknesses
To work out my businesses potential strengths and weaknesses I can use a SWOT analysis. SWOT stands for Strengths, Weaknesses, Opportunities and Threats.Marketing is identifying the particular wants and needs of the target customers, and then going about satisfying the customers more than rival competitors. My target audience is any aged adult, so 18 and over although there is no actual limit but that is what I would expect the aged target to be. This is because they are the people who are responsible of their cats and dogs and therefore they are the people that will need a place for them to stay whilst their away.
The product is the good or service that is being sold. The product is the most important of the 4 p’s as without it the others are not needed at all. There are many things to consider with the product to make it successful. The characteristics of the product must be of good quality with a decent style, size and colour. The name and packaging are also crucial to make the product unique. Price This is one of the first things customers think about when deciding to buy a product. Therefore it is also an important part of the 4 p’s. Deciding the price of a product has to be done very carefully. Customers will not buy the product if the price is too high yet the business wont make any profit if the price of the product is too low.
Place This is where the product is sold to the customer. Customers expect the product to be at the right place with plenty of stock so there’s always the right amount. The product must get to the customer in excellent condition as quickly as possible efficiently. Promotion Methods designed and used to inform the general public about a product and why they should buy it persuading them to come and buy the product.
Market Research Market research is finding out what the customers want and what they think about the product or service, so I know what the public thinks of my business and therefore knowing if its going to be a success. Market research is important because the business has to adapt to suit the wants and needs of the customers and follow the trends in the market.
The types of market research I am going to use is a survey/questionnaire this is a primary source of information using the general public directly. I will find out what they want provided by Cherry Kennels so I can make a business to suit the majority of the public. I produced this questionnaire as a means of research into what the public want and need from my business Cherry Kennels. Also I believe this is the best way to find out what the customers want because it is more personal and I get to talk to them one to one if they have any queries.
From the questionnaire I hope to know how much to charge the customers so they are satisfied but also so I can make a profit considering my employees wages as well. I also hope to find an appropriate location for Cherry Kennels. Apart from surveying there are two other types of research within market research. They are Desk Research and Field Research.