Planning A Business Example Music Store Business Assessment Task

4286 words - 18 pages

Contents
Executive Summary 3
PART A: Situational Analysis 4
PART B: Operations Plan 7
PART C: Marketing Plan 9
PART D: Financial Plan 12
PART E: Human Resources Plan 14
Appendix A: Establishment Costs 19
Appendix B: Estimated Annual Operating Expenses for the First Year 20
Appendix C: Break-Even Analysis 21
Appendix D: Forecast Balance Sheet 22
Appendix E: Cash Flow Forecasts 23

EXECUTIVE SUMMARY
Since 1998, Anthony’s Music Centre was established as a family business. After many years in business, sales began to increase as Liverpool’s population did. In 2006, the owner of the store passed away which resulted in his grandson taking over the management sector within the business.

Anthony’s Music Center Pty. Ltd. is a small business that resembles the upcoming demand for musical instrumental products. In a time where there is a high demand for music and where the current technologies are changing, Anthony’s Music Center will provide a music store that is suitable for any novice, progressing or advanced musician.

The business is an exciting opportunity for the township of Liverpool. The business will be one of the few in the South Western region and will provide a competitive range for the other companies that are being run at the present time. There is only one other musical store in the region that stocks the same amount of products that we do so, Anthony’s Music Center will have a competitive advantage over other businesses which do not stock the same amount of products. Anthony’s Music Center will provide an up-market range of products that will satisfy the needs of the target market identified. We will not only target advanced musicians but also the beginning ones with low prices for instruments. We will offer a number of incentives to our customers with ‘free music lessons’ and ‘free servicing’ of our products. By targeting the novice musicians we can grow our business and make it reach its full potential.

Anthony’s Music Center aspires to become the leading musical instrument retailer. The business will be a combination of sales, repairs and tutoring. The business aspires to expand to point where it can become a successful and innovative business venture. We aim to lead the market in the South Western region as well as expand to areas of greater demand.

Anthony’s Music Center Pty. Ltd. provides musical instruments to the community.  We separate ourselves from our direct competitors by paying intense personal attention to our customers, and educating our clients about the products they need or desire before, during, and after the sale. We also consider providing high quality instrumental lessons for the beginning, intermediate and advancing musician. Anthony’s Music Center provides high quality servicing and repair of instruments no matter where purchased.

PART A– SITUATIONAL ANALYSIS

Business Name:
Anthony’s Music Center Pty. Ltd.

Products/Services: ...

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