Events Rental of Furniture

Business Plan for Events Rental of Furniture

Business Plan for Events Rental of Furniture

Executive Summary 2

Introduction 2

The Problem Statement 3

Data Collection and Feasibility 4

Disparities 4

Perceptions 4

Strengths and Weaknesses 5

Problem-solving abilities 5

Support systems 5

Analysis 6

Assumptions 7

Gray area 7

Business Planning 8

Xexe\'s Current Business Process 8

The Proposed Solution – Business Plan 8

Executive Summary 9

Business Description/Overview 9

The mission of Xexe Minis Products 10

The vision statement of Xexe Minis Products 10

Market and Products 10

Organization and Management 11

Marketing and Sales Strategies 11

Conclusion 11

References 13

Appendix 1 14

Appendix 2 14

Appendix 3 14

Business Plan for Events Rental of Furniture

Executive Summary

The relevance of small businesses traverses generations in the world of economics. The competition is as still as in the environment of large enterprises. I took time to construct this research paper as a product of the small enterprises’ industry research. Further, I specifically analyzed one of the businesses – Xexe Minis Products in Alabama State in the United States. The paper entails the background of Xexe Minis Products and the problem statements associated with its daily operations. The main problem being addressed in work is the challenge of making deliveries related to human resources – employment and allocation.

Further, the paper captures the data collection approaches that I used during the study. Also imperative to note is the findings fetched from this research and how detailed they were analyzed according to specific paradigms such as economic, operational, and organizational considerations. Paper gives reliable solutions to the daunting challenges faced by the organization through the recommended business planning process of “Draw to see-to-think,” which enables the business to establish the best planning criterion in which resource pre-allocation is catered. Finally, the proposed business plan shows all the required solutions. It entails the products and markets, marketing and sales strategies, the management of the business, and the financial statements captured in the appendix.

Introduction

Small businesses occupy a significant space in the environment in which companies belong. Xexe Minis Products is one of them. This small business is known to a small market section but stands out in its competitive environment. Xexe Minis runs a simple business of rental furniture, in which they rent out or within their furniture products to groups and individuals at fees. The products dealt in by the company include tents, chairs and tables, chairs alone, trollies, and spaces for meetings, which are hired at a cost for the agreed duration of time. The business has been in existence for about two years, having been launched in July 2019. Xexe records 25 permanent employees. Besides, at any given point in time, it must have at least ten employees on contract. During peak operations, the numbers of employees on contractual procedures do increase considerably; however, they hardly surpass 20. This paper captures, at length, the information about the business.

The Problem Statement

The main problem that needs to be addressed is the confusion during deliveries of the hired furniture products. The big question is whether to deliver the tents and chairs to the clients’ premises or have the clients pick the tools independently. That was because the business does not want to incur the costs of delivering the furniture. Besides, it does not want to encounter other challenges associated with delivery, such as losing direction of the clients’ premises. 

Additionally, the management of Xexe Minis Products does not know how to balance employees during peak and off-peak times of operations. The problem comes with the uncertainty of the rise and off-peak months. These problems, among others, have been addressed under the solution section. Finally, the business is currently battling with the issue of space. Its products are increasing, so it’s rapidly running out of room to keep its effects, especially during off peaks. Chairs have to be piled to minimize the space used, but this is a significant risk as they are prone to vandalism. 

Data Collection and Feasibility

Through observation, I have vindicated the problems cited above. The situation at the premises of Xexe tells the truth about the issue of deliveries. Notably, at times multiple customers comprised of groups and individuals make orders. The business management lands into a situation of conflict of interest. They must tell who to serve first, given the small employee to responsibility ratio. In this way, they cannot make prompt informed decisions about who should have products delivered first. Therefore, the problem here marries with the employee-season challenge whereby the business cannot predict the future market demands to invite more temporary employees for the tenders (Hedelin et al., 2021). The statistics from the observations also proved that the rapidly growing business had no had enough space to keep its property.

Disparities

As we advance, the statistics reveal a lot of disparities in varied dimensions. The differences were a product of misunderstanding and misrepresentation of ideas information in the business by the employees and the management. The misunderstanding was observable from any viewpoint within the premises of the company. Besides, responses from a few respondents gave the following conclusions on the differences.

Perceptions

How information is interpreted from the management varied from one worker to another. The extent was such that employees would disagree on specific tools to keep in a particular storeroom, such as maintaining chairs of different designs in different storerooms. The confusion would also be seen when secretaries gave different responses concerning the exact number of specific furniture classes. For example, secretaries would disagree with the treasurer on the number of tents hired at the moment.

Strengths and Weaknesses

There are differences in the strength and weaknesses of the various employees in the Xexe Minis Products Business. Notably, some workers could carry heavy loads but could not establish the measurements and the quantities of the property rented out and that in-store. On the contrary, some could do the necessary arithmetic but couldn’t do big physical jobs due to chronic illnesses (Hedelin et al., 2021). In essence, there was a record of significant disparities as far as strengths and weaknesses were concerned. 

Problem-solving abilities

While collecting data, there were noted business problems that are encountered at different levels. According to a few respondents, some staff could consult the management of Xexe upon the encounter with any issues. However, some could quickly act to solve matters, for example, on myriad complaints from customers. 

Support systems

The data collection also noted disparities in the information technology, the human resource abilities, motivation levels, use of modern machines, and other support systems; however, they were not as profound as in the initial set of factors. 

For the sake of the accomplishment of this project, I will need the following:

· More committed research assistants, more respondents for the sake of the interviews. 

· Besides, I will need software such as Open Data Kits (ODK) to facilitate the interviews that I will love to perform in the future to reduce the burden of too much paperwork.

· Then, I will need space for adequate time to complete the project without any irregularities. 

Analysis

The findings captured above concerning the daily operations of Xexe Minis Products can be analyzed from different paradigms. The problem of deliveries and workers allocation shall be analyzed from different standpoints. The first set of factors of the analysis involves the economic, technical, operational, project risks, and organizational considerations. The calculations have been explained below.

· The economic patterns in the market and within the business itself contribute a lot to and are associated with the delivery problem. It is because there is a budget constraint for Xexe, with a lot of indifference. This is the divided interest arising from whether to employ more workers or to effect deliveries using the available funds. The problem here, therefore, has a strong relationship with the economic trends.

· Technical considerations are another viewpoint. There is a problem with the technical part of the business since Xexe is still a young business that has not yet absorbed a more knowledgeable and qualified technical team. Hence the confusion of workers.

· Operations are as necessary. The standpoint of analysis here relates to the problem of space that Xexe Minis is battling with. There is no enough space for the free undertaking of activities even by the workers of the business.

· Project risk and organizational considerations are the final set of conceptual analyses. The problems addressed hurt the progress of Xexe since they heavily waylay the decision-making activities in the business.

Second, the analyses involve diverse values, knowledge, aspirations, environmental obstacles, constraints, and behavioral issues. From the disparities discussed above, it can be noted workers perceived information in different ways. The difference in perception could also be said to be behavioral, hence the relationship herein. It contributes to additional knowledge capacity. Besides, the difference in knowledge also was vindicated in the disparities that were noted in problem-solving. Notably, a better understanding of business and environmental matters helps one solve problems quickly (Perry et al., 2019). The findings can also be said to be obeying the diversity of knowledge. The differences in the understanding and approach of doing things by the Xexe Minis Products’ business can also be related to the variety of values. There are, therefore, numerous approaches for analyzing the observations from Xexe.

Assumptions

The following assumptions have been made in the project:

· Xexe is competing effectively with other small businesses and so is matching the market standards.

· The business operates with less than 50 workers at any given point in time.

· That technology is efficient and being used effectively in the business

· The government recognizes the company and that it pays its taxes when they fall due

· The company is not a partnership, so it is not subject to dissolution when the membership is altered.

Gray area

It is a sensitive gap that is assumed in the project and so in the business of Xexe. The assumption that technology is perfect and well managed creates a significant gap. The reason is that Xexe Minis is a young organization that could not install a lot of technology into its operations. Besides, the organization has not yet absorbed the technical team. The gray area here poses a lot of problems in the interpretation of the progress of the business. For example, it is believed that Xexe Minis Products Company can compete effectively with the other firms in the environment, though only an empty assumption. The reason is that the organization cannot meet a better market through e-commerce, which is recently an effective way of doing business. While other firms can reach a greater and wider market, Xexe is only limited to a small section of the market. This is a great gap that inhibits the business from competing effectively.

Business Planning

In general and concerning Xexe Minis Products, business planning is an imperative activity. The paramount importance of business planning is that it guides an organization on developing a course to realize its objectives. For example, a good business plan will enable Xexe to achieve a minimum of 20 tents rent out to customers before the3 year ends. In addition, a good program helps the management to use resources in the right way.

Xexe’s Current Business Process

Xexe Minis Products currently operates on a business plan of “Situation-Target-Proposal.” In this planning process, the small business starts by evaluating the situation at hand and how it came to be. The evaluation here involves understanding the current challenges faced and the possible causes of these challenges. Further, the business management must understand its internal environment and how they contribute to it positively and negatively. Besides, it considers the major external environmental factors such as government policies, suppliers’ needs, and the political waves and how they affect its performance. Then it develops relevant understanding concerning its current situation. After that, it sets a target by developing goals and objectives that it anticipates achieving. Finally, it maps a workable route towards the set goals.

However, this approach has the shortcoming of not considering the resources needed in operation during planning. Therefore, the business should adopt the “Draw to see-to-think” planning process method to evaluate the resources used in the operations.

The Proposed Solution – Business Plan

Having identified and noted the above problems, it could be proper if their solutions were addressed. The key to any business problem is a well-laid down business plan. Xexe Minis Product, a rapidly growing organization that faces the above challenges equally, needs a business plan. A good business plan, which I recommend for Xexe, will show that the organization draws an ideal state of the matters at the end of a specific period. That is to say, it helps them tell them to come up with their desired end outcome or goals before anything. The plan then allows them to identify the gaps associated with their anticipations and the grey areas that need to be adjusted (Honig et al., 2021). The benefit here will be achieved because the organization will focus on its coordinated actions towards achieving the goals. Therefore, the business plan will enable Xexe Minis to create and focus on the practical activities as it aims at its goals. Therefore, the business plan will enable Xexe Minis to create and focus on the right actions as it aims at its goals. It will also follow that the employees will better understand the business culture and manner of operations. As a result, the goals set will be realistic and achievable.

Executive Summary

Xexe Minis Products is a young and small organization dealing in furniture products that have reached its growth stage. The organization currently operates under the Situation-target business planning process, which is faced with myriad challenges. The current situation in the organization is such that employees had overlapping duties with a lot of misunderstanding on who should do what at a particular time. Besides, the business operates on a weekly work schedule with an unreliable estimation of seasons and their patterns. As stated above, the business battles with the problem of deliveries with flawed decision-making criteria. However, the business has the objective of changing the situation. For example, by the end of 2021, it shall have employed ten more permanent workers in addition to the current 20. The business also expects to double their property in the future, with the total number of chairs of all designs increasing to 10,000, the intents rising to 40, and tables and other property rising in the same manner. Also, In the future, the expectation is that Xexe will have many branches (Schlegel et al. 2020). Finally, the business should achieve stable terms and conditions regarding deliveries of the products to their clients. The resolutions above reflect the anticipated overview of how the company will be in the near and late future.

Business Description/Overview

Xexe Minis Products happen to be a busy unpopular business with few employees, as stated above. It is one of the mini-businesses in Alabama State in the United States. The company has not grown enough to spread branches across the state or country. Notably, Xexe Minis deals in furniture products mainly hired for a specific time and occasion by groups and individuals. The deals include portable and importable chairs. The former can be transported to the clients’ destinations of interest. The former are kept inaccessible spaces. The spaces are also hired for special meetings, and so that’s another product dealt in. In addition, Xexe Minis operates tents that customers also hire at fees. The business permanently employed designers of these furniture products, and it should be noted that it is now slowly venturing into selling them always to customers in addition to just hiring.