Plan for growth of Krisco Services

Planning of Growth

TABLE OF CONTENTS
1.0 INTRODUCTION.....................................................................................................................1
2.0 EXECUTIVE SUMMARY.......................................................................................................1
3.0 KEY CONSIDERATIONS FOR EVALUATING GROWTH OPPORTUNITY IN KRISCO
SERVICES.......................................................................................................................................1
3.1 Porters generic strategies..................................................................................................2
3.2 Pestel analysis...................................................................................................................4
Opportunities for growth of Krisco Services with help of Ansoff’s growth vector matrix. . .6
4.0 FUNDING SOURCES FOR BUSINESS AND ITS BENEFITS & DRAWBACK:................8
4.1 Venture Capital.................................................................................................................8
4.2 Bank and other commercial leaders.................................................................................9
4.3 Friends and family............................................................................................................9
Business plan for growth of Krisco Services that includes financial information and strategic
objectives..............................................................................................................................10
Succession options for small business and its merits and demerits......................................12
CONCLUSION..............................................................................................................................14
RECOMMENDATION.................................................................................................................14
REFERENCES..............................................................................................................................15

1.0 INTRODUCTION
Business growth is the main objective of any firm, each enterprise make strategy to
expand business globally and gain competitive advantage. This helps them in sustaining in
market for longer duration. Planning for growth is a human activity for any business which
enables proprietor plan and organize the growth of business to increase the productivity and
revenue of the firm. The report is based on the Krisco Service Limited, UK which enlarging
there enterprise operations in many locations of UK. It is the small size private firm which has
strategic partnership with Spar, Costa coffee, BP etc. Krisco services incorporated in the year
1998 in Reading, Berkshire and are UK's largest privately owned forecourt operators. Company
have 47300 retail sale of automotive fuel specialised stores. Purpose of this report is to
determine various strategic options that may help in the growth of small business. Current report
has included the overview about the planning and growth of the firm which relates to SMEs,
report has a brief discussion on the techniques for evaluate the market opportunities and source
of funding for the businesses and its pros and cons. The report is focus on the small business
options and how it can attract the investors to invest in such business plans. This reports will
provide information about the succession options for SMEs and evaluate the ways of exiting
from the trades and it also explanation of its benefits and drawback (Baschat, 2018).
2.0 EXECUTIVE SUMMARY
Growth planning is very important for each business, this aids in analysing or evaluating
strategic option and implementing correct strategy that may support in development of
organisation. Study discusses political, economic factors that must be considered by firm for
evaluating growth opportunities. Ansoff matrix has been applied in context of Krisco service
limited. Furthermore, study discusses various sources of funds and succession option available
for company. Over a period of time this industry is growing well. Developing economic
conditions and increasing demand of society members have supported in raising sales of this
sector. Companies those which are operating in this sector are earning huge profit. Gas industry
get affected by fluctuation in legal and economic elements. Because of its operations
environment get badly affected, hence government has made some norms to protect natural
resources which has created little trouble for these companies but overall industry has potential
to grow well in near future.
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Strategies planning helps in analysing future risks and making correct strategies through
which business can grow well in the industry and can sustain in market for longer duration. Cost
leadership and focus strategies are helpful in gaining success in the market.
3.0 KEY CONSIDERATIONS FOR EVALUATING GROWTH
OPPORTUNITY IN KRISCO SERVICES
Competitive advantage can be defined as position of firm that shows more profit than any
other rivals. Each firm aims to gain competitive advantage so that it can create better positon in
the market as compare to its competitors and can sustain in market for longer duration. In order
to create competitive advantage firms has to provide goods and services asper need of consumers
and have to serve them well .this will make the consumers positive and they will like to buy
items of business for longer duration through which enterprise can gain competitive advantage in
market. Growth opportunity for Krisco services is dependent on various factors that may help in
evaluation of better plans for growth of the company. They are basically petrol station retailers
and offer opportunity for running once new business (Birkin, Clarke and Clarke, 2017).
3.1 Porters generic strategies
Company is using porters generic strategies to achieve competitive advantage and for
bringing growth opportunity for the firm in following ways: -
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