Entrepreneurship and Formulating Business Plans

1
ECONOMICS ASSIGNMENT

2
Executive summary
The paper contains a business plan aimed to attract the interest of the investors to invest in
the new venture. The new venture embarks on providing rental cars and bike services to the
customers. The USP of the company is to provide the services at the lower rates than the
current market rate. The business model of the company is different from the rival players
that allow the company to keep the operational cost low.

3
Contents
Introduction................................................................................................................................4
The business model....................................................................................................................4
Entrepreneurial competencies....................................................................................................4
Objectives...................................................................................................................................5
The market: PESTEL factors.....................................................................................................5
Competition................................................................................................................................6
The product................................................................................................................................6
The marketing and business.......................................................................................................7
Sales and operation....................................................................................................................7
Sales forecast..............................................................................................................................8
Financial projections..................................................................................................................8
Strength and the risks of the business......................................................................................12
Conclusion................................................................................................................................13
Reference..................................................................................................................................14

4
Introduction
Most of the businesses are looking to expand their operation in order to increase their
sustainability. In addition to that business expansion also increases the profitability of the
company in the long run. The objective of this paper is to pitch the new business venture to
the investors through documentation so that investment can be attracted in to the project. The
paper presents the business plan in order to make everything clear to the investors of the
market. The paper is significant for the investors who will be interested in investing their
money into the venture.
The business model
The new business venture for which the entrepreneur is seeking the investment is a car rental
online platform, New horizon car rental private limited based in Port Louis, Mauritius. The
idea is to provide the cars on rent to the customers through the online platform for a limited
time span. The customers of the market will pre-apply for the rental and have to pay the token
amount for booking the car. The customers will also provide the time for which the car will
be rented and based on the availability the company will assign the car to the customers. In
addition to that, the company will also provide bike rental services as well. The process will
be same for both the cars and the bikes, however, the rental charges will be more for the cars.
The company will partner with car providers so that their car can be shown as available in the
rent portal. The company will keep a part of the rent as a commission and the rest will be paid
to the car providing partners. The same will be for the bikes as well where the individual
partners of the company will provide the bikes in different locations of the city. The company
will take pre payment from the customers and refund the unbilled money after the successful
return of the vehicle to the company. In addition to that the company will also provide
assistance in case of breakdown of the vehicles as well.
Entrepreneurial competencies
The competencies of the owner are suitable for the entrepreneurship as the owner as
individual has taken a number of responsibilities of new businesses. In addition to that, the
academic curriculum of the individual has also provided with the necessary inputs for
running the business. The team with which the venture is being run also have the necessary
qualifications to run the business as well. The staffs working for the company has been
selected based on their experiences from similar start ups. The team management of the