Incorporating New Business
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Added on 2021-04-17
Incorporating New Business
Added on 2021-04-17
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RUNNING HEAD: Incorporating new busienss1Name of the studentTopic- Setting up new businessUniversity Name-
Incorporating new busienss2IntroductionIn this report, a new busienss plan has been taken into consideration. The newbusienss plan which will be introduced in this market is Spray cleaner. This new spraycleaner would be mostly used by clients to clean their gadgets and specs. This product ismostly used for cleaning T.V., screen, protecting gadgets from the dirt and other issues. Thename of the business would be Max spray Company. Therefore, the trading name of thebusiness would be Max spray. It is considered that the business of Max spray would bestarted at the small level. It is evaluated that the business structure of organization would beSole trader (Westwood, 2016). The main reason of undertaking new business as sole trader isrelated to its small size and less complicated corporate governance. The business will beaccompanied by the several steps such as buying raw chemicals from the vendors,implementing proper value chain activities and converting the chemicals into finished goods.After that, packaging and selling activities will be arranged for the new spray products. Themain focus of Max Spray Company would be to implement proper manufacturing activitiesto convert raw chemicals to finished spray for the clients in market. The main reason forselecting this business is based on its high growth potential less suppliers. The increasingmarket share of gadgets also reflects the availability of the potential market share for the Maxspray in market (Finch, 2016). The target market of company would be to mostly focuscollege going students and gadgets selling hub of Australia in which all the gadgets and toolsare sold. The price of Max spray is very low which may allow it to focus on person indulgedfor all types of income This max spray product will be highly used by the people to keeptheir gadgets clean. In addition to this, offices and schools are also the target market thatcould use these max spray products to keep their gadgets clean (Bryman and Bell, 2015).In order to set up new busienss of Max spray in market, the first step would bearranging finance and buying required machines. It will help in further processing ofchemicals and manufacturing of Max spray. In addition to this, company needs to focuses onthe hiring expert employees for the success its busienss. The main reason to start up this Maxspray business is based on the potential growth of the market. There are very less number ofrivals who are running their business in this industry (Burns, 2016).
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