Prepare a BUSINESS Plan - Required clear in BUSINESS plan and most of the information present in the presentation of a draft of Hormuz
Environmental analysis
• A discussion about the industry you are entering, in an historical and a geographical sense.
• A look at changes, advancements and trends over the last 10 - 15 years, and the current situation at an international, national, state and local level.
• Identify where your particular business fits into the industry and why there is an opportunity for your business.
Competition and competitive advantage
• List three of your major competitors.
• Make a realistic assessment of their strengths and weaknesses.
• How will you address their strengths and capitalise on their weaknesses? 1.v Niarket targets •
• How many products (or hours of service) are you going to sell. The targets need to be realistic, achievable and sufficient to make a profit
• Present them in a table showing your targets for the first 12 months of operation.
• Make allowance for seasonal factors and the time required to go from a new business to full operation.
What pricing technique will you use? Explain why.
What are your prices? Include a list of prices.
Advertising and promotional strategy
• List the methods you will use and the cost of bringing your product/service to the attention of prospective customers, e.g. in which publication will you advertise.
• Will you use direct marketing campaigns, if appropriate.
• What promotional literature will you be developing, i.e. flyers, etc.
• What other promotional tools will you use?
Market research
• Details of the results of your market research produced from primary and secondary resources.
• Include details of any surveys/questionnaires used.
• Include tables and charts as appropriate.
• Indicate that the business will be a partnership.
• Why has this structure been selected?
• What are the advantages of this structure for your situation?
• What business name are you going to use?
• Has the business name been registered?
• Will the business require an Omani license?