Selling Umbrellas to Students - Essay Example

The services will be extended to local students as well as lecturers and support staff, who may need umbrellas.
The umbrellas can be delivered at a client’s convenience upon request. The clients will be provided with our business cards so that they may refer their friends to our services and also ensure that they request our services.

The average cost of an umbrella in the UK is 20 pounds. We plan to allocate 300 pounds to purchase approximately 15 umbrellas for the start of the business. The remaining 200 pounds will be used to cater for the product of business cards and process the operational license of the business. The
Unique Selling Point (USP)

The unique selling point of this business is based on the fact that the umbrellas can be delivered upon request by the client. Therefore, a client does not have to be under any challenge in case the rain begins falling and they do not have an umbrella.

Additionally, the prices will also be relatively available. We expect to sell the umbrella at an affordable price that will favor our clients and the continuity of our business. Because the region experiences frequent rainfall, this business idea is strategic, targeting clients that may be faced with mobility challenges due to frequent rain. The umbrellas are also good quality; our clients will be assured of the durability of their umbrellas: We intend to research and determine the most affordable and high-quality umbrellas that we will take at wholesale prices to ensure that we reduce operational costs.
Currently, this idea has not been implemented by any other business, thus, we believe that it is not under threat from competition. This is another unique selling point of the business.

Target Market
The business targets International students in the college, specifically Russian and Chinese students, who are still not aware of the rainfall pattern of the area. In addition, it also targets local students and lecturers, who may need umbrellas to improve their mobility during the rain.

On the other hand, the business targets support staff within the college and other people such as visiting parents and others. These targets are believed to be lucrative for this business because many people have complained about the challenges caused by the frequent rainfall in the area.
Pedestrians and visitors passing close to the college can also access our services. They will be provided with these services at an affordable price, similar to the students, lecturers as well as support staff.


Location of the Business
The business will be located in London, specifically in P.S., close to my college. This region is characterized by frequent rain and thus the choice for the location. The location is also favorable because it is close to my target market, which is the college students, both local and international, lecturers as well as other support staff.
Reasons why the Business Will Succeed

The first reason that will lead to the success of the business is that it is an idea that has not been implemented by any person. This means that the business will not be under threats from competition, therefore, higher chances of success. Another reason is based on the fact that clients can be provided with delivery services at their convenience upon request: I believe that this strategy will attract clients that do not want to go through the trouble of looking for an umbrella in the middle of the rain.

On the other hand, the prices will be favorable; the pricing strategy that will be used will be favorable to our clients and the business. I believe that an appropriate pricing strategy is a key to the success of our business. On the other hand, the business will succeed because of the advertising strategy that will be used: The advertising strategy will involve the use of social media, and the provision of business cards describing our services, location, and prices.

Generally, this business is strategic; the location is characterized by frequent rainfall that has been reducing the mobility of students and other people within the college. In some cases, students and lecturers have complained of the destruction of books by rainwater as they move from one place to another. I believe that the idea of selling umbrellas within the vicinity of the college will be appreciated by many people.

Source of this Information
I have been consulting and networking with other students from other colleges concerning this idea and if it has worked in their institutions: This has been a crucial source of information. Additionally, I have researched online sources of information regarding this business idea and how it can be successfully implemented. Moreover, my experience with the campus with the effects of rain as well as my interaction with fellow students and lecturers has given me different perspectives on this business idea. Read More