Startup Business Plan: Rent Us Example

This assignment delves into the operational strategies of a hypothetical startup called 'Rent Us,' which specializes in renting out various equipment. It outlines key areas such as implementing proper training programs for employees, adhering to legal hiring practices, and managing finances effectively. The plan emphasizes simple accounting methods, tracking cash flow, strategic investments, and setting clear financial goals.

Running head: ENTREPRENEURSHIP AND ENTREPRENEURIAL SKILLS
Entrepreneurship and entrepreneurial skills
Name of the student
Name of the university
Author Note:

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1. Executive Summary
The researcher has analyzed the entrepreneurship skills of a new start up company in this
following research. The research has taken the example of Rent us which is an online
based real estate company involved in renting spaces to people and organizations. The
organization is based in Manchester, UK. The recent spurt in the real estate provides a
great opportunity for the company to expand its business. The researcher has provided a
detailed analysis of the startup business with the example of the mentioned industry. He
has provided a detailed description of the company after which he has provided the
opportunities for the business. To show the opportunities he has provided a SWOT table
which will be useful to analyze the micro environment of the business. The way by which
business is carried out in the company has also been shown here. The different marketing
strategies that can be practiced by the mentioned business have also been highlighted in
the following research. In the last part of the research the researcher have shown the HR
strategy and has shown the financial considerations for the mentioned start up. The
providence of all the materials in detail have made the research a compact one.

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Table of Contents
1. Executive Summary.................................................................................................................2
2. Business Description...................................................................................................................4
3. Business Opportunities Research and Analysis...........................................................................5
SWOT Table....................................................................................................................................7
4. Marketing Strategy......................................................................................................................7
5. Business Operations.....................................................................................................................8
6. Technology..................................................................................................................................9
7. HR Strategy...............................................................................................................................10
8. Financial Considerations...........................................................................................................11
References......................................................................................................................................12

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2. Business Description
The research proposal will be based on “Rent Us” which is a Start up and is involved in
real estate business. The Company is based in the city of Manchester and is registered with the
company law of UK. It is basically an internet and web based application that provides
opportunities to the people to rent a particular space of their choice. The plan to open the
mentioned Real Estate Business was hatched by Mr. William Dawson who then got the help
from his close friend Mr. Pep Lawman to establish the business in the year 2012. Both the
owners were steady in their approach and decided to invest wisely so that the company does not
bear the pressure of any loss in the first year itself. The owners had a great discussion with
themselves and some experts of the market before they selected a number of venture capitalists
from the market to invest in their start up. However an effective strategy prepared by them not
only safeguarded them from running into loss and managing a marginal profit, they quickly
became reputed in and around Manchester. The business is based on selling spaces to the
customers. The company also transforms the space to be rented according to the choice of the
customer. The amount that is needed for the transformation can be paid out in a number of easy
installments to help the customers avoid spending a huge sum of money while they rent and
transform the space.
The company has benefited from the fact that most of the people are now searching for
new places to rent as per their choices or there are people who are in search for the right people
to whom they can rent their spaces. The company has a present strength of around 60 individuals
who has been appointed by the owners themselves. The integrated IT team of the company is
always active in the internet to find the potential customers with whom business deals can be

5ENTREPRENEURSHIP AND ENTREPRENEUR SKILLS
completed. The advertisements regarding the posts are evaluated and most importantly the
advertisements which are posted in the own website of the company are thoroughly checked after
which the management team of the organization starts making advancements with the deal.
The company has decided to increase its influence and business in and around
Manchester to make sure that they hold a high level of competitive advantage over other such
companies. Rent us specializes itself in designing quality apartments and penthouses for the
clients. The decorations have been appreciated by every person who has taken the services of the
company. The organization provides special discounts while renting out spaces to health clinics,
retirement services and for many more such special causes.
As mentioned earlier the main sponsors of the startup are the two owners along with a
handful of venture capitalists who have invested a considerable amount on the real estate
business. Generally start up business requires a modest funding until and unless the revenues of
the particular business are well enough to meet the demands of the organization.
3. Business Opportunities Research and Analysis
The mentioned real estate firm will be conducting a detailed research to determine the
opportunities for the business before entering the market (Naudé 2013). The owners have to
concentrate on four perspectives while conducting the research namely;
1. Customer- Customers is one of the main factors that determine the opportunities for the
business to thrive in the future as well as the present. A sound customer will have a
choice for a certain product which must be identified by the organization and then that
particular thing must be produced to influence the customers. The market study has

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shown the huge amount of demand for real estate within UK (Kibler et al. 2014). Rent
Use has to be influential to make sure that the customers can find exactly the right things
in the right place which would help them to lure away customers from other similar
organizations.
2. Company- Rent us will be using the marketing strategies to make the customers aware
about their products and services. The management of the company will also be
presenting the personality of the company to the potential customers before emerging in
the UK market.
3. Competitor- Rent Use has a number of super active competitors in The UK market. The
company will be facing huge competition once it enters the market. The owners will
behind it really hard to direct the business in the right path. The strategies of the business
to target people like the couples and the middle aged persons with a mediocre income
range clicked for the organization.

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SWOT Table
Strengths Opportunity
 Web Based and mobile based
technology
 Most of the ownership in the
hands of the two founding
members
 Growth in the market of Real
estate
 Steady rise in the demands for
rental spaces by large scale and
medium scale organizations
Weakness Threats
 Absence of corporate office
 Absence of an expertise in
formulating the strategy of the
business
 Presence of a large number of
other large competitors
 Lack of vision for the future
Table No 1-SWOT Table
Source- (As created by the Author)
4. Marketing Strategy
A proper marketing strategy is the most essential element that determines the success of
the business. Start up business grows enormously once they have a proper marketing strategy.
Some of the strategies undertaken by the mentioned real estate organization are;

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a. Reaching the influencers and establishing healthy relationships- The mentioned
company can approach the leading personalities who can easily create an impact while
talking with the potential customers. Appointment of a celebrity to promote the product
or service will be helpful for Rent us as people always tend to follow the promotional ads
of the celebrities (Kibler et al. 2014).
b. Make the people understand the needs of the product- It will be the task of the
management team to make the potential customers realize the need for a rented space.
The efficiency of the management team will be an essential factor for the growth of the
business.
c. Use of Social Media- The mentioned business entity is a web based online platform for
buying and selling rented spaces. The company can use social media to full extent to
promote them and attract the young generation with effective online communication.
d. Need based Value propositions- Last but not the least the company should make sure that
they come up with the product that is the need of the hour. This requires them to have a
proper knowledge about the needs of the customers.
5. Business Operations
Running the start up business is a very difficult task as because the start up business
requires continuous vigilance and the management of the company have to respond promptly to
the challenges faced by the organization (Holland and Garrett 2015). Therefore making the
proper decisions is needed for achieving success.
a. Learning new business concepts- The main aim of the owners of the start ups are to
learn new business concepts that will help to develop the business. The owners can take

9ENTREPRENEURSHIP AND ENTREPRENEUR SKILLS
the help of the owners of other successful business to learn new methods of achieving
success in business (Kibler et al. 2014).
b. New product and services development- The main aim of the startups will be to develop
new products for the customers to remove the boredom of similar products (Kolvereid
2016).
c. Keeping the customers happy- Keeping the customers happy is perhaps the most
important task of the start up businesses. The organizations must have a proper
communication with the customers as because of their small size.
d. Efficient tracking- The owners of Rent us must track every of the activities that are
performed by the organization on a daily basis. Efficient tracking helps to avoid any
forms of fraud or problems in the organization.
6. Technology
Technological advances of the last decade will serve as an added advantage to Rent use
to carry on its operations smoothly. Rent us it will be an online platform for renting houses,
apartments or workspace (Hedman et al. 2016). The use of different social media sites and the
use of mobile platforms will help the mentioned real estate business entity to achieve success.
The advantages of using technology are;
a. The new generation is addicted to online platforms which help the cause of the
organization as they can easily communicate with the people.
b. The problems of the people can be easily addressed via the social media platforms.

10ENTREPRENEURSHIP AND ENTREPRENEUR SKILLS
c. The mentioned company also specializes in creating unique designs for the spaces to be
rented to the people. They use latest technologies while decorating the spaces as the
wishes of the customers (Mariotti and Glackin 2014).
d. The latest technologies will be providing a competitive advantage to the real estate
company.
e. Application of the latest technologies will attract both the investors as well as the
customers. Technologically advanced firms are believed to be much efficient than other
firms in the market.
7. HR Strategy
Human Resource Management is an internal function within the company which is aimed
at maximizing the performance of the employees. Some of the strategies that the HR team of the
start up’s can take are;
1. Increase Employee Satisfaction- The start ups should keep it in mind that their
employees are their greatest strength as well as asset. The HR department has the sole
responsibility to keep the employees happy and satisfied. Taking utmost care of the
employees will increase the employee performance within the organization. Providing
rewards and reorganization can also be helpful to improve employee satisfaction.
2. Develop fair compensation strategies- The start up’s should have a fair compensation
strategy to keep the workers satisfied. Rent us has developed a new strategy to keep the
employees satisfied. Compensation packages increase the performance levels of the
employee.

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3. Prepare Training Programs- Proper training programs must be implemented to make
sure that the employees are skilled and can easily achieve the aims of the organization.
New employees are put through the training programs to adapt them with the conditions
of the organization.
4. Implement legal regulations- Start up’s like Rent us must make sure that the hiring
practices followed by them adhere to the rules of the country. The organizations must not
violate the laws which can hamper their future needs.
8. Financial Considerations
As mentioned earlier the main source of funding for the mentioned startup was the
owners themselves and the venture capitalists (Blair and Marcum 2015). Finance is one of the
main considerations of a start up business. Fund crunch or shortage of money can seriously affect
such a small business, thus the management needs to be extra cautious while dealing in business
transactions.
1. Simple Accounts- Rent us has decided to use only one simple accounts system that is
easier to understand and friendly in nature. It is better for a start up to be simpler as
because managing a complicated account will make life tough for small businesses. A
simple account will also save time and will make the business much more efficient.
2. Tracking Cash Flow- Keeping a track of the flow of cash will help the organization to
analyze the financial data at the end of every four months. Achieving a balance in the
cash flow will be helpful for the organization (Román et al. 2013).
3. Proper Investment- Start up’s must invest properly and in the right place as because the
shortage of money ensures that they cannot show the luxury of wasting money.

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4. Financial Goals- The Company must create a timeline which would clearly indicate the
amount of profit margin, break even timing, time for appointing more employees, annual
turnover and many more as such.
References
Blair, E.S. and Marcum, T.M., 2015. Heed Our Advice: Exploring How Professionals Guide
Small Business Owners in Start‐Up Entity Choice. Journal of Small Business
Management, 53(1), pp.249-265.
Hedman, J., Sarker, S. and Veit, D., 2016. Digitization in business models and
entrepreneurship. Information Systems Journal, 26(5), pp.419-420.
Holland, D.V. and Garrett, R.P., 2015. Entrepreneur start-up versus persistence decisions: A
critical evaluation of expectancy and value. International Small Business Journal, 33(2), pp.194-
215.
Kibler, E., Kautonen, T. and Fink, M., 2014. Regional social legitimacy of entrepreneurship:
Implications for entrepreneurial intention and start-up behaviour. Regional Studies, 48(6),
pp.995-1015.
Kolvereid, L., 2016. Preference for self-employment: Prediction of new business start-up
intentions and efforts. The International Journal of Entrepreneurship and Innovation, 17(2),
pp.100-109.
Mariotti, S. and Glackin, C., 2014. Entrepreneurship and small business management. Pearson
Higher Ed.

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Naudé, W., 2013. Entrepreneurship and economic development: Theory, evidence and
policy. Browser Download This Paper.
Román, C., Congregado, E. and Millán, J.M., 2013. Start-up incentives: Entrepreneurship policy
or active labour market programme?. Journal of Business Venturing, 28(1), pp.151-175.