Business Plan for IFixit Repairs and Services

Business Plan0
Business Plan
Name of the Student:
Name of the University:
Author’s Note:

BUSINESS PLAN
1
Executive Summary
The main purpose of the assessment is to formulate a business which would be focusing on an
innovative business idea and the same would be focusing to establish the operations of the
business. The business which is being established would be providing repairing and maintenance
services for cell phone devices and laptops. The business which the management is planning to
establish would be mobile and can effectively provide home repair services. The mission and
vision of the start-up has been explained in details and the potential business segment from
which the company will generate revenue. The business plan would be showing SWOT analysis
in order to ascertain the internal strengths of the business. The assessment would also be
including a financing plan for the Ifixit Repairs and Services which would show the start-up
costs for the business and its other financial requirements.

BUSINESS PLAN
2
Table of Contents
Business Canvas Model...................................................................................................................4
What IFixit is all About?.................................................................................................................6
Mission Statement.......................................................................................................................6
Founder........................................................................................................................................6
How does IFixit Work?...............................................................................................................6
Business Ethics............................................................................................................................7
Market Feasibility............................................................................................................................7
Marketing Trends, Conditions and Analysis...............................................................................7
Strategic Alliance.........................................................................................................................8
Threat of Competitors entering this new market.........................................................................8
Market Research..........................................................................................................................9
SWOT Analysis...........................................................................................................................9
Marketing Plan...........................................................................................................................12
4P’s of Marketing......................................................................................................................12
Physical Promotion....................................................................................................................12
Digital Marketing.......................................................................................................................13
Evaluation of Marketing Performance.......................................................................................13
Human Resources Feasibility........................................................................................................13
Key Personnel............................................................................................................................14

BUSINESS PLAN
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Recruitment Plan.......................................................................................................................15
Training Plan.............................................................................................................................15
Operations......................................................................................................................................15
Service delivery.........................................................................................................................15
Distribution................................................................................................................................15
Legislation.................................................................................................................................16
Financial Feasibility.......................................................................................................................16
Revenue and Cost of Goods Sold..............................................................................................16
Start-Up Cost.............................................................................................................................17
Profitability and Return on Investment......................................................................................18
Assets.........................................................................................................................................19
Profit and Loss Statement..........................................................................................................19
Balance Sheet.............................................................................................................................20
Reference.......................................................................................................................................21

4Business Plan
Business Canvas Model
Key Partners
 The key partners
of the business
are technicians
and key
supervisors of
the business.
 The Key
suppliers of the
business will be
suppliers of
technological
accessories,
software
suppliers
 The key
ingredients are
different
accessories and
software which
can be used for
managing the
customers of the
business.
Key Activities
 The key
activities would
be including
providing repair
services for
mobile phones
and protection
software
 The Business
would be
maintaining a
Van which
would be
providing repair
services at
home.
Value Proposition
 The new
business which
is being
established
would be
tapping into this
opportunity and
establishing a
business which
would meet the
requirements of
the market.
 IFixit would be
providing the
best quality of
services to the
customers and
would be
providing
technological
solutions in case
of software
problems. The
company is
trying to solve
the customers
issue over prices
Customer
Relationships
 The customers
of the business
are main sources
of revenue for
the business and
therefore it is
important for the
business to
maintain good
relationship with
the customers.
 The business is
also engaged in
providing
services at home
which would be
helping the
business to
generate more
revenue from
operations.
Customer
Segments
 The business
would be
attracting
customers which
are mainly in
household
sectors as repair
and maintenance
is often required
by such groups.
Further the
business of
IFixit would be
focusing on
younger kids
who are always
looking for
software
updates.
Key Resources
 The key
resources which
Channels
 The business
would be

5
BUSINESS PLAN
is available to
the business is
software and
technology
system.
 IFixit also would
be providing
delivery services
to the customers.
by introducing a
new product
which is
affordable by the
customers.
offering instore
services for the
operations and at
the same time
would also be
home services as
a Van would be
maintained by
the business for
the purpose of
enhancing the
sales.Cost Structure
 The company is trying to reduce its cost in order to
attract more customers and have more profits.
 The main costs are the maintenance costs of the property
and Van which would be providing the services
Revenue Streams
 The customers are more than willing to pay for quality
repair services which is provided by the business.
 The revenue of the business would also be generated