A Business Mainstay - Essay Example

We intend to separate ourselves from the competition by utilizing both a brick and mortar storefront at the mall as well as a web presence. Therefore, our customer base will not be limited to local clients, but we will deal with a potential worldwide clientele. Our market research has indicated that there is a high level of dissatisfaction among gift recipients as a result of the lack of high- quality customized gifts that are also affordable. Our intention is to fill the gap between the high-end customized gifts and the lackluster generic gift market.

The Gift Basket Company offers these people an alternative, providing them memorable and magical gift baskets. For example, we use highly detailed surveys to prepare our baskets, in which the customer gives details about such things as favorite colors, foods, hobbies, interests and other items of interest that help us build the most appropriate gift basket. Daily employee relations create an enormous opportunity for corporate gift baskets. Companies are experiencing more and more needs for gifts: congratulatory gifts for new births or marriages, sympathy gifts for bereaved family members and even smaller items to welcome a new employee or give thanks to a longstanding employee.

In addition, the clientele for corporate gifts is wide open. Practically any kind of business represents an opportunity, and our research indicates that certain types of businesses provide steady revenue. These types of occupations include hospitals and doctors, insurance agents, attorneys, and the real estate industry. Our Chamber of Commerce has already expressed a tremendous amount of interest in doing business with us after my partner got involved doing public service help for them. Since our cash flow will admittedly be constricted during the initial phase, we plan to save on start-up expenses by leasing our equipment instead of buying it.

Although it may seem as though this would be a greater expense, that is only true when looked at in the long term. Once the revenue begins flowing at the rate we have projected, we can then move toward purchasing the items we will initially lease; items such as computers, delivery vehicles, copiers, etc. We plan on this short solution lasting no more than one year. We have also applied for a Small Business Administration loan and there are several grants we are looking into. Admittedly, there is an enormous amount of competition for these grants and even if we do get one, we will have to strictly abide by the terms.

Despite that, however, I believe we should apply for all federal and state grants that we qualify for, in order to increase our chances of receiving one. We have conducted a great deal of research and are well aware of the risks of opening a new business, but we firmly believe that this is a business opportunity that is bound to grow. Currently, there is very little in-town competition and none of them have the web presence we are planning. Please consider helping us with much-needed startup capital.