A BUSINESS PLAN.

Running head: A BUSINESS PLAN
A BUSINESS PLAN
Name of the Student:
Name of the University:
Author Note:

A BUSINESS PLAN
1
Introduction:
New entrepreneurial ventures usher new products which serve needs of consumers more
efficiently. The new business ventures create revenue generation opportunities for the
entrepreneurs undertaking the ventures. They create employment opportunities for the job
seekers. New ventures pay taxes to the government bodies, both at the union level and state
level, thus enabling the latter to generate more revenue. New business ventures recognise the
needs among consumers are either not fulfilled at all or fulfilled insufficiently. They locate this
gap between demand and supply of specific goods and services, thus using the gap as the
opportunity to introduce new products to fill the gap. Entrepreneurial ventures owing to these
benefits which they usher in the market are considered important to bring about socio-economic
development. The government bodies in different countries as a result encourage entrepreneurial
ventures. However, entering the market brings entrepreneurial ventures in contact with several
market risks which are capable of having negative impacts on the business outcomes namely,
generation of supernormal profits and business expansion. This makes the entrepreneurs
launching new business ventures create business plan recognising the different aspects like
market considerations and funding as well as risks. The aim of the report is to present a business
plan for an entrepreneurial venture called ‘Fix It Up’ which would be based in Hyderabad, the
capital city of the state of Telengana, the Republic of India.
About the firm and its operations:
The gaps recognised:
Fix It Up would fill two gaps in the Indian automobile market. The first gap would be
dearth of sufficient service stations which consumers can approach to get their vehicles serviced.
The second gap would be that most of the consumers, especially employed consumers lack

A BUSINESS PLAN
2
sufficient time to wait to get their respective cars serviced at the service stations. Saranga (2009)
while referring to the Indian automobile sector and its future growth rate, mentions that the
sector has grown at a tremendous speed. As per a data released by the Government of India, the
population of privately owned cars and motor cycles has seen a steady increase. An article
published in the Economic Times in 2018 contradicted this fact and mentioned that many Indians
are today preferring using app based cab services and metro services to commute. She further
mentions that the trend to use public transport is gaining importance among the upper class in
order to avoid issues like long waiting hours due to traffic congestion and high parking fees
(Goyal, 2018). Thus, on the whole the number of cars in India is experiencing an increase both in
terms of private ownership and public use (in case of ride hailing services). It can be clearly
pointed out that increase in the number of vehicles plying on the Indian roads would also mean
increase in the number of vehicles requiring servicing (Bhattacharya, Mukhopadhyay and Giri
2014). The leaders in the Indian automobile market do provide repairing services at their
respective service stations however, the number of stations at present is insufficient to serve the
increasing number of vehicles requiring servicing. Moreover, owing to the extremely busy
lifestyles and demanding professional lives, most of the car owners are not able to wait for their
vehicles to be repaired.

A BUSINESS PLAN
3 Figure 1 Statistics showing vehicle population of different types of India till 2015
(Source: Community.data.gov.in. 2017)
The organisations and its fulfilling of the gaps identified (operations)
Fix It Up would be sole proprietorship firm located in Hyderabad, Telegana, India. The
main product of the firm would be providing automobile servicing to the owners of automobile
at local automobile workshops. The customers owning both individuals and companies owning
vehicles would be able to book vehicle servicing slots on the apps compatible with both laptops
and smart phones. The automobile technicians employed by Fix It Up would use the location of
the clients and suggest them to arrive at workshops close to their locations. Secondly, the
consumers would not have to wait for their cars to be serviced. They would have the option of
collecting their cars after servicing with four hours from the tentative end time of service