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Successful Take-Off of the New Business - Term Paper Example

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This paper is a business plan that presents all the processes that should be implemented in order to successfully run a medium-sized business. The business description is provided in this plan, emphasizing on why the class of middle-aged male users is chosen over other groups…
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Successful Take-Off of the New Business
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Download file to see previous pages According to the research findings, the products to be sold are washable slippers—they are mainly used in the bathtubs and within the house. They are not designed for outdoor purposes. Their texture is soft, and the material they are made from is flexible and water-proof; that is, the washable slippers neither contaminate nor pollute the bathwater. This business plan details the procedures necessary for selling a brand of washable slippers for middle-aged male users. Though other categories of consumers can use the slippers; however, the initial research on this product was carried out with middle-aged male consumers in mind. Below are the data and chart that reveal how profitable the business is going to be when the target consumers/market is given ample consideration. The data above was obtained by asking 20 middle-aged men, women and teenagers to fill in their preferences in questionnaires concerning another pair of washable slippers. Their responses are tabulated above to demonstrate the likeness middle-aged men have for washable slippers. Figure 1 above reveals how comfortable the washable slippers are to middle-aged men, and this is why they are the main target of the market. Also indicated in the data is the fact that both middle-aged women and teenagers could also purchase and use the washable slippers, but the recognition middle-aged men have for the slippers surpassed that of other groups of users. The form of organization chosen for this business is a partnership. The major reasons for making this choice are that: (i) the size of the business is small; (ii) the capital to run the business is limited; (iii) the partners can equally share the liability and profits accruable from the business; (iv) and is a medium-sized business, the partners would be able to concentrate more on rapid business development (Lazonic, 1993). ...Download file to see next pagesRead More
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