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Risk Management and Legal Matters
Table of Contents
1. Introduction
2. Company Description
3. Business SWOT Analysis
4. Entrepreneurial Competencies
5. Conclusion
6. Business Strategy 2
a. Entrepreneurial Strategy and Goals
b. Business Strategy
c. Mission
d. Vision
e. Values
f. Idea vs. Opportunity
g. Experience and Opportunities
h. Potential and High-Potential Business
i. Future Opportunities and Changes
7. Risk Management
8. Insurance
9. Intellectual Property
10. Business Legal Form
11. Risk Management
12. Insurance
13. Intellectual Property
14. Business Legal Form
Market and Financing
Target Market
Bidet in a Day will target a middle- to upper-middle-class market. Geographically, our primary focus will be on urban and suburban areas. These regions are characterized by modern housing complexes and have a dense population, and they have been found to have an increasing awareness and adoption of bidets (Von Oldershausen, 2020). These areas are ripe for our unique selling proposition, and the region will make it that much easier to fulfill the promise of having a bidet installed within a day.
From a demographic perspective, our services are for adults aged between 25 and 60. This age group is typically in a decision-making position concerning home improvements and usually homeowners themselves. Our target demographic extends to the middle to upper-middle-class households, since these households have the disposable income necessary to invest in home improvements and are more likely to see the value in luxury bathroom fittings like bidets.
As for the psychographic aspect of our segmentation, we want to focus on attracting eco-conscious individuals. The modern consumer tends to be environmentally aware (Herbes et al., 2020). Our product directly appeals to this sentiment. Bidets reduce the need for toilet paper and...…bank loans offer another viable route. Based on the strength of our business plan and creditworthiness, we aim to secure a small business loan of up to $50,000. This debt, which should be acquired at competitive interest rates, will be repaid over a timed period, so as to give the business the chance to be financially healthy as it gets up and running.
In terms of financing the business, our strategy is clear. Immediate expenses like domain registration, initial tool inventory, product purchases, and licensing, will be covered using personal savings. The bank loan will introduce a structured debt into the business. And if angel investors come on board, the will receive equity in the business, so that their interests with the long-term success of Bidet in a…
References
Herbes, C., Beuthner, C., & Ramme, I. (2020). How green is your packaging—A comparativeinternational study of cues consumers use to recognize environmentally friendly packaging. International Journal of Consumer Studies, 44(3), 258-271.
Von Oldershausen, S. (2020). Maybe the French Have the Right Idea After All. The New YorkTimes, D4-L.
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