Estimate Business Plan Costs Business Plan
- Length: 5 pages
- Sources: 5
- Subject: Business
- Type: Business Plan
- Paper: #86495228
Excerpt from Business Plan :
Business Plan Costs
Preparing documents is very common these days using the software like Microsoft word and other related things but in order to make more complex documents and presentation it requires much more complex and advanced software and techniques so desktop publishing includes preparing print or electronic publications (United States Department of Labor, 2010).
These kind expertise and software are generally away from the reach of general public so it makes a huge market for these desktop publishers who have the right skills, professionalism and technology to create the documents for people (United States Department of Labor, 2010).
The demand for these experts were so high that according to the data of States Department of Labor Bureau of Labor Statistics (BLS) for 2008 shows that there were 26400 employed as the desktop publishers. But as for now this figure seems to reduce or decline as it is projected to fall by 22.5% from 2008-2018 (United States Department of Labor, 2010).
As per the report of BLS there are not many people working as self-employed, but however due to the attractiveness of the industry there are some people who work on solo basis. It is also reported that the annual median wage for people employed in this field is about $36,600 (United States Department of Labor, 2010).
This business of ABC Desktop Publishing started in 2011 and worked for providing solutions to the businesses related to the quality desktop publishing products and services. The business was started from the home of the owner who is the sole employer of the business and it has a lot of business growth and opportunities.
2. Products and Services
There are a variety of high quality electronic and print documents that the ABC Desktop Publishing Business specializes in. Some of these are:
Web Site Development
Word Processing Services
3. Market Summary:
The major target customers of this business are the small companies in the Pleasant Landing community. The small businesses in the area are not capable of paying a huge amount of money to companies so the Digital Desktop has the perfect opportunity to grab the market for these customers.
4. Competitive Position:
The competitive position in the market is that there are four major companies providing these services in the area and only one of these companies provide the services of website development. So the services provided by them will make them a niche in the market. The situation is good for them because they are operating from home and so the expenses incurred is less and so they can offer fewer prices to the customers providing them a competitive advantage.
5. Financial Position:
The funds required to start the business are about $3,337.78; to arrange for the funds investors will be giving the amount required and then it will be repaid to them as soon as the profits will be realized.
There are many adverse costs involved (Strausz, 2009) and so the situation involves an innovator who has extensive technical knowledge (Denis, 2004) but has neither the accumulated reputation nor the bondable wealth necessary to convey this information credibly.
Barry (1994) identifies the venture capital as having precisely evolved to fill up the financial need.
The venture capitalists perform due diligence prior to investing, and information gleaned in that process can greatly reduce the adverse selection problem (Young, 2009).
Related to these reviews is another article of Habib and Johnson (2000) who were the first to consider that entrepreneur are the ones who can get knowledge from the investors. So it is assumed that the information is very important and optimal for the people (Young, 2009).
Then it also supports the literature on the inside investors (Inderst and Muller, 2006; Bergemann and Hege, 1997; Casamatta, 2003; Strausz, 2006, Schmidt, 2003; and Repullo and Suarez, 2004).
Then it is also assumed that the estimated and projected year 1 income is about $8,297.67 and it is also assumed to grow steadily.
6. Mission Statement
It is the mission of ABC Desktop Publishing Business to ensure that they are providing the smaller businesses with not only high quality print and electronic documents but that their products are priced lower as compared to even the competitive products. It is also very important to the business to earn an excellent reputation among the customers.
Following are the things that we plan on doing to achieve…