The very nature of the computing industry, with its extraordinary rate of technological development, creates a constant need for businesses skilled in updating and advising customers on computer-related issues. In town, the majority of potential customers are dissatisfied with existing options, creating an attractive niche for an innovative start-up. Small business PC users will provide the majority of our business revenue. Business Week expects the computing industry to grow at a rate of 12% and the processor speeds to continue to expand for years to come, providing a rich resource for sales.
PC Repair has decided to focus mainly on the small business market, as these customers typically don’t have a full-time IT person, but have full-time IT needs. PC Repair will offer an affordable, on-demand service for these customers. We can also offer maintenance agreements that generate additional monthly income. For our residential customers, we will offer a very affordable and helpful service with a very flexible schedule to meet their needs. Our target market will focus on Ramsford-on-Bitstream and the surrounding areas. Market research indicates there is an abundance of business for a small company such as PC Repair.
Start-up Funding and Financials
To get PC Repair started the owner is providing cash and assets. We are also seeking a short-term loan, to be secured with the owner’s home equity, and repaid within three years. Our conservative sales forecasts, based on industry research within the local area, project hefty sales in year one, steadily increasing through year three. To reach these goals, we will use an aggressive advertising campaign to exploit our competitors’ weaknesses. With good cost control, we will see a modest, yet comfortable, net profit the first year, even after moving into a leased space and hiring additional technicians.
- To provide the best service available to the community at an affordable price.
- To generate substantial market share so that PC Repair is a common name.
- Constant growth in sales from start up through year three.
- To generate customer satisfaction so that at least 40% of our customer base is repeat business.
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Our goal is to set the standard for on-site computer solutions through fast, on-site service and response. Our customers will always receive one-on-one personal attention at a very affordable price. Our customers will receive the highest quality of customer service available. Our employees will receive extensive training, a great place to work, fair pay and benefits, and incentives to use their own good judgement to solve customers’ problems.
1.3 Keys to Success
- Establishing a brand identity and generating brand recognition through marketing.
- Responsiveness: being an on-call computer paramedic with fast response time.
- Quality: getting the job done right the first time, offering 100% guarantee.
- Relationships: developing loyal repeat customers–retainers.