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BUILDING BUSINESS Paper

Words: 1420, Paragraphs: 40, Pages: 5

Paper type: Essay , Subject: Accounting

Anglia Ruskin University London Campus

Building Business

ARU Student Number: 423515 16394241

30 /03/19

ENTREPRENEUR BUSINESS PLAN

MAMALIZ TYRES UK LIMITED

Address:

High street

Grays

RM17 6QR

Executive Summary

Mamaliz is an exclusive tyres company in the UK that has maintained its position as the UK’s tyre wholesaler. We offer all-round tyre service that is guaranteed to be the cheapest of the highest quality and easy to use. Mamaliz tyres Service provides a mobile tyre replacement and repair service for all car, van, and 4×4 models. We supply premium makes of the tyre including expert, high performance, and run flat tyres.

The unique selling point {USP}

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Mamaliz tyres is a company dealing with new and part worn tyres in the UK. Now we provide an exclusive 12 hours services to our customer at a unique selling point. For instance, competitive fixed price, home services, and tyre fitting. The company [USP] is of good quality and high quality that will benefit our customers in the UK. However, we offer good packages to our customers and make sure they are satisfied with their product.

Business type:

It is a private limited company registered under company’s act 2006. Nevertheless, it a type of company that offers limited liability that will benefit as the business will be a separate legal entity, in which owner liability is limited to their own shares, and it cannot be publicly traded. It is a company that can be formed online directly through companies’ house or through third party lawyer or accountants. It is more affordable, and easy to achieve through company formation agents. If the business is in debt, the company will file for bankruptcy and the owners can file for insolvency

Location:

Fig 1 Shows the location and competitor

The company is located close to the local amenities within the town center, where there is access to local shops and restaurants within the community. We have the capability, commitment, and resources to handle our customers’ requirements. The company has a unique advantage that other competitor does not, such as high-quality product pressure tested before selling to customers.

Market Analysis

Product:

Our function is to supply our customers in their workshop and provide services to automobile users, for example, cars tyres, vans tyres, truck tyres, and caravan tyres in the area of east London and Essex. We aim to provide the largest selection of high quality new and part worn tyres in the UK. We have been able to adapt to many advance tyre product such as Bridgestone, Dunlop, Michelin, and continental tyres. As part of our product, we deliver thousands of tyres to our customers’ shops and give a discount on purchased items. We also offer the largest selection of new tyres from the premium brands. The company tyres are of exceptional quality, and we have our customers covered. Every new tyre we fit come with a lifetime mileage guarantee which provides cover against manufacturing defects throughout the legal life of the tyre. Our aim is to provide services to all our customers to the best of their satisfaction. When it comes to tyres, we know them inside and out. Our company has a stock of high-quality tyres including run-flat and low-profile variant. All of them are put on sale at a reasonable price. The rest of our services include

Tyre fitting

Tyre doublingEmergency breakdown

Delivery services

Wheel alignment

Tyre pressure monitoring system

Puncture repairs

Price:

Mamaliz tyres have an unbeatable price that will benefit our customers all over the UK for their purchased products ranging from five pounds and above. Our tyres come in a wide range of options from run-flat tyres to reinforced models designed to cope with extra loads and at a price to suit your pocket. These prices include,

Penetration pricing: This is a marketing strategy used to attract customers to a new product or service. Penetration pricing includes presenting a low price for a new product or service during its initial offering. The lower price helps to lure customers away from competitors.

Value-based pricing: Value-based pricing is a technique for setting the price of a product or service based on the economic value it offers to customers. It is an alternative to other forms of pricing, such as market, product cost, competition or historical.

Cost-based pricing: This is the practice of setting prices based on the cost of the goods or services being sold. A profit percentage or fixed profit figure is added to the cost of an item, which results in the price at which it will be sold.

Loss leader pricing: A loss leader is a product or service that offered at a price that is not profitable but is sold or offered in order to attract new customers or to sell additional products and services to those customers. Basically, a loss leader introduces new customers to a service or product in the hope of building a customer base and securing future recurring revenue. A loss leader can be a successful strategy if is executed properly.

Promotion:

Mamaliz tyres have formed a range of new marketing systems to build its revenue, mainly from the buyers. These systems are described has

Advertising

Sales promotion

Social media

Distributing flyers

Fig 2

Fig 3

The reason for using online social media to advertise is to keep our customers interested in company services and products. Also, to enable the customers to know the company latest products. We offer a promotional discount to our customers when they drive into the yard to purchase their items. Our online search features let access the thousands of tyres we have in stock. Not only we guarantee the lowest price of tyres, but we also provide an excellent support service.

Employee:

Service provider: The total number of employees is [3] this include, CEO, Administrator, Accountant, and the rest are workers

Chief Executive Officers: The duties of the CEO are to carries the ultimate management responsibility for an organization and report to the board of director.

Administrator: An administrator provides both clerical and administrative support to professionals, either as part of a team or individually.

Accountant: The accountant duties is to prepare asset, liability, and capital account entries by compiling and analyzing account. They document financial transactions by entering account information.

Workers: The workers’ duties are to supply products to our customers in their workshop and to provide services for customers that drove into the yard. For example, fitting car tyres and puncture repair etc.

Customers/ Client:

The company customer targets include

Consumer: The consumer can be any individual who purchases products or services for his personal use and not for manufacture or resale.

Retailer: The retailer is an entity that sells goods directly to consumers through various distribution channels with the goal of earning a profit.

Automobile user: They are used to transport people items from one location to another location.

Finance forecast:

The company will offer 20% of the equity of 150,000 pounds from the business.

Total revenue at the end of year 3 is at 3,660,000 pounds

Total expenses at the end of 3 years is at 773, 565 pounds

Future Expectation:

As a firm, we understand that our achievement depends on our capability to grow. However, if the business is successful, we hope to expand our industry by establishing a larger growth and exporting tyres into other countries. The company will consider other means of growing their business such as,

Price skimming: These consists of setting high prices and reducing them over time to maximize profit in the long term. After setting the initial price high for early adopters and less price-conscious consumers, the firm gradually lowers rate until even the most frugal or buyers will partake.

Initial public offering: An {IPO} is the process of offering shares in a privately held firm to the public for the first time. An IPO is a substantial stage in the growth of many industries, as it provides them with access to the public capital market and increases their credibility and exposure.

Franchise: A franchise is a business opportunity that allows the franchisee to start up their business by legally using someone else’s expertise ideas, and processes.

Sell out: The business will sell out for an operational or tactical reason. For instance, to gain market share, raise capital for an acquisition, diversify a relatively focused customer base, and diversify product and service offerings.

Merging with other company: The firm will combine with other business to expand market stocks and to decrease the effect of the companies’ execution on its value.

REFERENCES:

Bovee, C & Thrill, V [ 2018] Business in action. Accessed 28th March 2019.

Spann M. [et al]. ‘’Skimming or penetration? Strategic dynamic pricing for new product’’, 2014. Accessed 28th March 2019.

Fig 1 shows the location search and competitor in the area Accessed 28th March 2019

Fig 2 shows the marketing Interbrand Accessed 28th March 2019.

Fig 3 shows the social media platform Accessed 28th March 2019.

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TTT

About the author

This paper is written by Sebastian He is a student at the University of Pennsylvania, Philadelphia, PA; his major is Business. All the content of this paper is his perspective on BUILDING BUSINESS and should be used only as a possible source of ideas.

Sebastian other papers:

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