Core Elements Of A Traditional Business - 2417 Words

This report will present a number of core elements of a traditional business plan (Spinelli Adams 2016) for the creation of a new business venture. The venture to be created to address a gap in the market, is an end-to-end design and residential, building renovation business. The proposed new venture, unlike many others in the market, will be strongly business focused on robust scalable systems and processes. It will also have a carefully considered growth and marketing strategy to build a strong brand that will provide high growth potential without compromising customer experience and delivery of consistent outcomes. The report outlines the current market and then moves on to detail the new venture opportunity, entry, positioning and†¦show more content†¦The fragmented market is made up of a large number of small scale renovators competing for the same business, with a heavy reliance on subcontractor labour to deliver projects (HIA Renovation roundup). Market research reveals (reference needed) that the market is filled with a large number of small businesses, generally owned and operated by a tradesman; the majority of these businesses lack a coherent strategy around how they engage with the market and deliver a consistent customer-focused outcome. 3. The new venture 3.1 The opportunity Through extensive market knowledge and research of the home building market in Australia gained as Marketing Director of New Fab Co., Michael Mowat has identified an exciting opportunity in the housing renovation sector of the residential building market. There is an opportunity in the heavily fragmented market (citation) for a new approach - a renovation business with a business model focused on marketing, solid systems and processes to create a business platform that will deliver a long-term competitive advantage. Given the size of the renovation market in Australia (x$), the potential upside to creating a full service (design-to-build), business-focused, renovation business is significant. While a number of