Business Plan for Main Golfing Business Plan

Pages: 8 (2264 words)  ·  Bibliography Sources: 1+  ·  Level: College Senior  ·  Topic: Business

SAMPLE EXCERPT:

[. . .] With more than 2,000 established businesses in the market without a quality Web site, the first factor is met.

The company's target market includes (but is not limited to) hotels, motels, travel agencies, tourist attractions, tourism-related retail stores, guided tour companies, resorts, campgrounds, and local restaurants. Each of these establishments has the opportunity to make their business more customer-oriented and convenient by bringing some aspect of their services online to our Web site.

Market Analysis

Potential Customers Growth 2004 2005 2006 2007 2008 CAGR Weekend warriors 25% 40,000 50,000 62,500 78,125 97,656 25.00% The curious 25% 30,000 37,500 46,875 58,594 73,243 25.00% Hardcore climbers 30% 15,000 19,500 25,350 32,955 42,842 30.00% Direct customers 35% 85,000 114,750 154,913 209,133 282,330 35.00% Other 0% 0-0 0-0 0-0.00% Total 30.70% 170,000 221,750 289,638 378,807 496,071 30.70% Main Golfing Outlet's main function is similar to that of the ski shop; selling important gear while providing a place for all levels of players.

There is a real need for a highly professional yet customer-oriented provider of golfing equipment on the Internet. People need guidance through all levels of the sport.

There is a need for 'one-stop' shopping.

SWOT Analysis

Main Golfing Outlet recognizes the following strengths, weaknesses, opportunities, and threats (SWOT):

Strengths:

Community commitment

Experience in the sport of golfing.

Education and marketing experience.

Weaknesses:

Limited cash.

Little experience with e-commerce politics.

Opportunities:

No well-focused, well-marketed competition.

The cost of Internet and other direct marketing opportunities have decreased in recent years.

Golfers are not as price-sensitive as other outdoor enthusiasts.

Threats:

Increased Internet competition.

Security threats.

Strengths

Our most significant strength lies in our management team's skills in both golfing and running a small business.

With a nationwide direct marketing business that includes Internet and catalog sales, Main Golfing Outlet is in a natural position to expand into retail in the future. Through customer service, this company is bound to increase its brand recognition.

Weaknesses

Main Golfing Outlet has access to a limited amount of cash. Initial financing will not be difficult due to solid credit and the low inventory depreciation rate, but ongoing financing will be more difficult to obtain. It's not the receivable days that will cause havoc on the cash plan, since sales are 100% cash, it is the operating and marketing expenses.

Opportunities

The market for golfing equipments is far below saturation level. Our two main competitors do very little in the way of marketing to all skill-levels, be it advertising or community involvement PR. This gives us the opportunity to develop the market and brand ourselves as the market 'original'.

The cost of selling via e-commerce and through mail-order has decreased tremendously in recent years. Internet domain names cost $35 a year, and e-commerce servers may be set up for only $30 a month. Certain high-circulation catalogs will develop custom catalogs for vendors and mail them for a fixed fee. This is incredibly cost effective for companies that do not have costly relationships with printers, graphic artists, and the like. Both direct mail and Internet sales are a growing segment of our business.

Serious golfers will pay anything to get into the latest gear. The average golfer carries around $1,200 of equipment. Since players buy only name brand gear at a price premium. Climbers associate high price with premium quality.

Golfing service companies offer us a unique opportunity. We can team up with these services to promote our events and store, and in return we will give them advertising. This gives service companies cost-effective market exposure.

Threats

Network security is the biggest threat to e-commerce. Security systems and vulnerability assessment are good investment areas, as are application security and host-based security products. Ultimately, however, we will see more tightly integrated products to reduce costs and management complexity. VPNs will become more flexible and less expensive as start-ups provide technology to automate the set-up and management processes. To stay ahead, Main Golfing Outlet will remain up-to-date on all technological advances and implement new security measures as needed.

Conclusion

While we will face great challenges in years ahead, we will also be presented with extraordinary opportunities. We will all have access to new opportunities such as forming strategic alliances, niche marketing and doing new business on the Internet. To grow and prosper, you must know your market and know your clients. This business will do everything possible to eliminate weakness and threats and focus on strengths and opportunities.

Bibliography

Bhide Amar… [END OF PREVIEW]

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Business Plan for Main Golfing.  (2004, March 23).  Retrieved December 17, 2018, from https://www.essaytown.com/subjects/paper/business-plan-main-golfing/7897452

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"Business Plan for Main Golfing."  Essaytown.com.  March 23, 2004.  Accessed December 17, 2018.
https://www.essaytown.com/subjects/paper/business-plan-main-golfing/7897452.