Business plan Essay Example | Topics and Well Written Essays - 2500 words - 2

Business plan - Essay Example However, unless marked costume jewelry, the majority of all jewelry at the store will be upscale or certified fine-crafted gold and diamond jewelry, which will cater to a wide variety of potential customers. Second Street Recovery is owned and operated by Panayiotis Gavriel who will manage all of the business aspects of the company including administrative, bookkeeping, generic management, inventory and sales recording. This self-managed business philosophy will keep labour costs low and provide the owner with more flexibility in daily business operations. Second Street will require an initial capital infusion (long-term loan) in the amount of  £33,575 at start-up. These costs will cover initial insurance, rent deposits, legal expertise, and generic office expenses necessary to operate the company at start-up. The chart below identifies the start-up capital and justification for launch of Second Street. The chart below identifies the expected customer demographics for Second Street Recovery as well as projections for growth over a five-year period, based on expected population increases in the London region. The market analysis chart identifies the percentage of customers which maintain the buying potential to utilise Second Street services, presented in pie chart format. There are currently six to ten competitors in the local region which provide similar pawn services and jewelry resale, making this a very saturated marketplace. For this reason, Second Street Recovery must create a marketing-focused organisation to make Second Street products the foremost name in jewelry, furniture and pawn services. Prouness (2007) describes product positioning from a marketing perspective, which involves creating a connection between the product and the customer by appealing to their unique preferences and lifesyle choices. Product positioning allows a