Business Plan for Power1 Cyberservices
Added on 2023-06-10
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Business plan
Power1 Cyberservices
Power1 Cyberservices
Executive summary
Main aim of this report is to create a business plan. Therefore, this report will include a
business plan that isPower1. It will provide computer and technical consulting (repairs, training,
networking and upgrade service) to local small businesses as well as home PC users. The
company will focus on marketing, responsiveness, quality, and creating and retaining customer
relations.Power1 was initially formed as a sole proprietorship, but was reconfigured as an Limited
Company in December of 2021.Power1 will at first be a home office start-up, utilizing one studio
room in the owner's home and serving customers in the local London area. In the third month of
our plan, we will move into a leased office space and hire a second technician. As sales increase,
we will hire additional personnel. It will encourage clients to register their software and use the
software's own support options to their full potential. This report will be based on the secondary
data collection as the data will be gathered form secondary source including internet, book, news
paper and other agencies. The market analysis will be helpful for respective company to analyses
the market condition. It makes enable the organization to run their business accordingly.
Main aim of this report is to create a business plan. Therefore, this report will include a
business plan that isPower1. It will provide computer and technical consulting (repairs, training,
networking and upgrade service) to local small businesses as well as home PC users. The
company will focus on marketing, responsiveness, quality, and creating and retaining customer
relations.Power1 was initially formed as a sole proprietorship, but was reconfigured as an Limited
Company in December of 2021.Power1 will at first be a home office start-up, utilizing one studio
room in the owner's home and serving customers in the local London area. In the third month of
our plan, we will move into a leased office space and hire a second technician. As sales increase,
we will hire additional personnel. It will encourage clients to register their software and use the
software's own support options to their full potential. This report will be based on the secondary
data collection as the data will be gathered form secondary source including internet, book, news
paper and other agencies. The market analysis will be helpful for respective company to analyses
the market condition. It makes enable the organization to run their business accordingly.
Chapter 1 - Introduction
1.1 Rational of the business opportunities
The very nature of the computing industry, with its extraordinary rate of technological
development, creates a constant need for businesses skilled in updating and advising customers on
computer-related issues. In town, the majority of potential customers are dissatisfied with existing
options, creating an attractive niche for an innovative start-up. Small business PC users will
provide the majority of our business revenue (Kar and Navin, 2021). Business Week expects the
computing industry to grow at a rate of 12% and the processor speeds to continue to expand for
years to come, providing a rich resource for sales. We can also offer maintenance agreements that
generate additional monthly income. For our residential customers, we will offer a very affordable
and helpful service with a very flexible schedule to meet their needs. Our target market will focus
on London and the surrounding areas. Market research indicates there is an abundance of business
for a small company such asPower1. It will encourage clients to register their software and use the
software's own support options to their full potential. This report will be based on the secondary
data collection as the data will be gathered form secondary source including internet, book, news
paper and other agencies. The market analysis will be helpful for respective company to analyses
the market condition. It makes enable the organization to run their business accordingly.
1.2 Scenario chosen
Business idea is considered as a brief description of a thought or and idea behind a
business. It define key customer problems and seek to solve the issues, articulate how ideas are
applied to market and provide clear direction in which a business plan is procession. Business
thought is an organisation plan that produced by the company in order to make profit. In a
business plan, company analyse their target market and put them at a position in order to make
them different form their competitors As there is requirement for the technology graduation,
business require innovation to service in market. Therefore, by consider requirement of the
organisational environment, company bring some new ideas to perform effectively (Kumar,
Singh and Kumar, 2021). From the very first day, we will offer on-site repair and consulting
services, so that our clients don't need to take time out of their busy days to haul a computer in
to our workshop. This is the single biggest frustrationPower1 has seen among small business
owners needing computer help. Much of our diagnostic equipment is portable, and we will
remove a PC to our workshop only when the problem requires more detailed diagnosis
The very nature of the computing industry, with its extraordinary rate of technological
development, creates a constant need for businesses skilled in updating and advising customers on
computer-related issues. In town, the majority of potential customers are dissatisfied with existing
options, creating an attractive niche for an innovative start-up. Small business PC users will
provide the majority of our business revenue (Kar and Navin, 2021). Business Week expects the
computing industry to grow at a rate of 12% and the processor speeds to continue to expand for
years to come, providing a rich resource for sales. We can also offer maintenance agreements that
generate additional monthly income. For our residential customers, we will offer a very affordable
and helpful service with a very flexible schedule to meet their needs. Our target market will focus
on London and the surrounding areas. Market research indicates there is an abundance of business
for a small company such asPower1. It will encourage clients to register their software and use the
software's own support options to their full potential. This report will be based on the secondary
data collection as the data will be gathered form secondary source including internet, book, news
paper and other agencies. The market analysis will be helpful for respective company to analyses
the market condition. It makes enable the organization to run their business accordingly.
1.2 Scenario chosen
Business idea is considered as a brief description of a thought or and idea behind a
business. It define key customer problems and seek to solve the issues, articulate how ideas are
applied to market and provide clear direction in which a business plan is procession. Business
thought is an organisation plan that produced by the company in order to make profit. In a
business plan, company analyse their target market and put them at a position in order to make
them different form their competitors As there is requirement for the technology graduation,
business require innovation to service in market. Therefore, by consider requirement of the
organisational environment, company bring some new ideas to perform effectively (Kumar,
Singh and Kumar, 2021). From the very first day, we will offer on-site repair and consulting
services, so that our clients don't need to take time out of their busy days to haul a computer in
to our workshop. This is the single biggest frustrationPower1 has seen among small business
owners needing computer help. Much of our diagnostic equipment is portable, and we will
remove a PC to our workshop only when the problem requires more detailed diagnosis
or repair. We will also offer free pick-up and delivery of PCs needing repair. To meet the
growing demand for this service, we will purchase a company vehicle in the third month.
Key success
Establishing a brand identity and generating brand recognition through marketing.
Responsiveness: being an on-call computer paramedic with fast response time.
Quality: getting the job done right the first time, offering 100% guarantee.
Relationships: developing loyal repeat customers--retainers.
1.3 The Mission
Our goal is to set the standard for on-site computer solutions through fast, on-site service
and response. Our customers will always receive one-on-one personal attention at a very
affordable price. Our customers will receive the highest quality of customer service available. Our
employees will receive extensive training, a great place to work, fair pay and benefits, and
incentives to use their own good judgement to solve customers' problems.
1.4 The Vision
Its vision is to create a strategic approach to manage the information technology
department and functions in the business environment. It set the way for the innovative ideas on
how to achieve it. Power1 want to provide best quality of the customer services. For this,
respective Company decide to provide training to its employees so that they can understand that
how this new innovation works. It makes the employees more skilled and become able to provide
good customer service.
1.5 The Aim
To maintain an effectual industry standard 20% gross profit margin with the reasonable
operating expense.
To generate a sensible profit in second year.
1.6 The Objectives
To provide the best service available to the community at an affordable price.
To generate substantial market share so thatPower1 is a common name.
Constant growth in sales from start up through year three.
growing demand for this service, we will purchase a company vehicle in the third month.
Key success
Establishing a brand identity and generating brand recognition through marketing.
Responsiveness: being an on-call computer paramedic with fast response time.
Quality: getting the job done right the first time, offering 100% guarantee.
Relationships: developing loyal repeat customers--retainers.
1.3 The Mission
Our goal is to set the standard for on-site computer solutions through fast, on-site service
and response. Our customers will always receive one-on-one personal attention at a very
affordable price. Our customers will receive the highest quality of customer service available. Our
employees will receive extensive training, a great place to work, fair pay and benefits, and
incentives to use their own good judgement to solve customers' problems.
1.4 The Vision
Its vision is to create a strategic approach to manage the information technology
department and functions in the business environment. It set the way for the innovative ideas on
how to achieve it. Power1 want to provide best quality of the customer services. For this,
respective Company decide to provide training to its employees so that they can understand that
how this new innovation works. It makes the employees more skilled and become able to provide
good customer service.
1.5 The Aim
To maintain an effectual industry standard 20% gross profit margin with the reasonable
operating expense.
To generate a sensible profit in second year.
1.6 The Objectives
To provide the best service available to the community at an affordable price.
To generate substantial market share so thatPower1 is a common name.
Constant growth in sales from start up through year three.
To generate customer satisfaction so that at least 40% of our customer base is repeat
business.
1.7 Structure of business plan- sign Posting
There are various business structure in organisation. These structure include partnership,
holding companies, corporation, non profit, sole proprietorship, subsidiaries and limited
liability companies. In relation to, Power1 was initially envisioned as a sole proprietorship
in the owner's home. Sole proprietorship is considered as an unincorporated business by
single individual. The freelancers and other self employed people are, in the legal term,
operating a sole proprietorship. I had chosen this structure as it is very easiest kind of to
establish an enterprise and take apart, due lack interference of the government regulations.
However, recent feedback from our marketing outreach has suggested a much higher sales
potential than originally imagined, and Power1 has been reformed as a Limited Company.
This change will provide additional legal protection for the owner, and will also streamline
the financial operations of the company as we expand the personnel to 5 within the next
three years, lease a separate space for offices, and purchase company vehicles and cell
phones (Reyes‐Rodríguez and Ulhøi, 2022). I have 3 years of experience in the fields of
technical support, networking, and computer training and repair. I also spent the last two
years as the manager of a custom computer building and repair store, and I understand the
computer needs of small businesses.
Chapter 2 – The business concept
2.1 Introduction
Power1 is a Limited Company located in London, owned by me. With a small 3-year
loan,Power1 will grow in one year from a one-man, home-office based repair shop to a profitable,
3-person business in a leased location. We will build the necessary infrastructure to quickly and
efficiently respond to customers' computer needs, guaranteeing speedy, friendly, competent, and
cost-effective technical support.
2.2 Description of the Business concept
Total start-up expenses include initial expenses for establishing our website, setting up the
business, and doing our pre-opening advertising. Exact allocations are shown in the table.
business.
1.7 Structure of business plan- sign Posting
There are various business structure in organisation. These structure include partnership,
holding companies, corporation, non profit, sole proprietorship, subsidiaries and limited
liability companies. In relation to, Power1 was initially envisioned as a sole proprietorship
in the owner's home. Sole proprietorship is considered as an unincorporated business by
single individual. The freelancers and other self employed people are, in the legal term,
operating a sole proprietorship. I had chosen this structure as it is very easiest kind of to
establish an enterprise and take apart, due lack interference of the government regulations.
However, recent feedback from our marketing outreach has suggested a much higher sales
potential than originally imagined, and Power1 has been reformed as a Limited Company.
This change will provide additional legal protection for the owner, and will also streamline
the financial operations of the company as we expand the personnel to 5 within the next
three years, lease a separate space for offices, and purchase company vehicles and cell
phones (Reyes‐Rodríguez and Ulhøi, 2022). I have 3 years of experience in the fields of
technical support, networking, and computer training and repair. I also spent the last two
years as the manager of a custom computer building and repair store, and I understand the
computer needs of small businesses.
Chapter 2 – The business concept
2.1 Introduction
Power1 is a Limited Company located in London, owned by me. With a small 3-year
loan,Power1 will grow in one year from a one-man, home-office based repair shop to a profitable,
3-person business in a leased location. We will build the necessary infrastructure to quickly and
efficiently respond to customers' computer needs, guaranteeing speedy, friendly, competent, and
cost-effective technical support.
2.2 Description of the Business concept
Total start-up expenses include initial expenses for establishing our website, setting up the
business, and doing our pre-opening advertising. Exact allocations are shown in the table.
The bulk of our start-up requirements are asset needs: we need diagnostic and repair
equipment, half of which will be contributed to the business by the owner from his own
materials (Chen, Hou and Chang, 2021). We are treating this equipment as assets because we
expect it to last at least three years, and to have some resale value when we are through with
it; we will buy additional expensed equipment in years two and three. We also need start-up
inventory which includes RAM, spare hard drives, cables, and cases. Although we will keep
expenses to a minimum for the first three months, before we move, we will also need cash at
start-up, to see us through the next several months with a positive cash balance.
2.3 The product and service description
Power1 will offer computer repairs, training, networking and upgrade service to clients in
two major categories: home PC users and small business users. AsPower1 and the client demands
grow, we will offer software development to our business clients.
We will also offer extended maintenance contracts, so that business clients can deal with technical
support and repair needs as a single line-item expense, rather than having to plan for unexpected
crashes and problems with a rainy-day fund they may never use. Maintenance contracts yield a
high gross margin for us, and provide peace of mind for the customer (Mushafiq, 2021).
2.4 The Target Market
Home PC User
Our home PC user market includes non-tech-savvy residents of the local area (15 mile
radius), generally between the ages of 30 and 70, with at least one home computer. We are not
expecting income from users below 30, who tend to be more comfortable with technology and
willing to attempt repairs and upgrades on their own, without seeking professional assistance.
Such home users generally own a computer to do email, play games, write letters, scan and print
photos, and occasionally to do bookkeeping or taxes. Home PC users with more sophisticated
applications generally have enough tech savvy, from tech experience at work, to do their own
repairs and upgrades. Their hardware needs will include the computer itself, monitors, keyboards,
mouse, printer, and scanner (Patidar and Srivastava, 2022).
This group is growing slightly faster than the overall population growth in our area, in part due to
the increasing demand for computers among retired people and young families, about 7% a year.
equipment, half of which will be contributed to the business by the owner from his own
materials (Chen, Hou and Chang, 2021). We are treating this equipment as assets because we
expect it to last at least three years, and to have some resale value when we are through with
it; we will buy additional expensed equipment in years two and three. We also need start-up
inventory which includes RAM, spare hard drives, cables, and cases. Although we will keep
expenses to a minimum for the first three months, before we move, we will also need cash at
start-up, to see us through the next several months with a positive cash balance.
2.3 The product and service description
Power1 will offer computer repairs, training, networking and upgrade service to clients in
two major categories: home PC users and small business users. AsPower1 and the client demands
grow, we will offer software development to our business clients.
We will also offer extended maintenance contracts, so that business clients can deal with technical
support and repair needs as a single line-item expense, rather than having to plan for unexpected
crashes and problems with a rainy-day fund they may never use. Maintenance contracts yield a
high gross margin for us, and provide peace of mind for the customer (Mushafiq, 2021).
2.4 The Target Market
Home PC User
Our home PC user market includes non-tech-savvy residents of the local area (15 mile
radius), generally between the ages of 30 and 70, with at least one home computer. We are not
expecting income from users below 30, who tend to be more comfortable with technology and
willing to attempt repairs and upgrades on their own, without seeking professional assistance.
Such home users generally own a computer to do email, play games, write letters, scan and print
photos, and occasionally to do bookkeeping or taxes. Home PC users with more sophisticated
applications generally have enough tech savvy, from tech experience at work, to do their own
repairs and upgrades. Their hardware needs will include the computer itself, monitors, keyboards,
mouse, printer, and scanner (Patidar and Srivastava, 2022).
This group is growing slightly faster than the overall population growth in our area, in part due to
the increasing demand for computers among retired people and young families, about 7% a year.
Small Business Users
Small business users will provide the majority of our business revenue. The small business
market will be defined as customers within a 15 mile radius, with 2 or more computers or a
network which they use for business purposes at least 25% of the time. Their business use may
include minor usage, such as updating a business website for a brick-and-mortar store, keeping the
books, designing graphics or ad campaigns, and writing copy for press releases. It may also be
more extensive, incorporating inventory tracking, POS systems, customer databases, online
product/service delivery, or product development. The more intensive their computer usage for
business, the more critical it is to them that their technology work well and reliably, and that
quality repairs and support are available in a crisis. Their hardware needs will include the same
items as home users, plus servers, backup systems, data storage, and wireless networking (Wang
and Cheng, 2021).
The portion of the small business market we are targeting is growing at around 2% a year.
Table: Market Analysis
Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Customers Growth CAGR
Home PC Users 7% 25,000 26,750 28,623 30,626 32,770 7.00%
Small Business
Users
2% 10,000 10,100 10,201 10,303 10,406 1.00%
Other 0% 0 0 0 0 0 0.00%
Total 5.39% 35,000 36,850 38,824 40,929 43,176 5.39%
Small business users will provide the majority of our business revenue. The small business
market will be defined as customers within a 15 mile radius, with 2 or more computers or a
network which they use for business purposes at least 25% of the time. Their business use may
include minor usage, such as updating a business website for a brick-and-mortar store, keeping the
books, designing graphics or ad campaigns, and writing copy for press releases. It may also be
more extensive, incorporating inventory tracking, POS systems, customer databases, online
product/service delivery, or product development. The more intensive their computer usage for
business, the more critical it is to them that their technology work well and reliably, and that
quality repairs and support are available in a crisis. Their hardware needs will include the same
items as home users, plus servers, backup systems, data storage, and wireless networking (Wang
and Cheng, 2021).
The portion of the small business market we are targeting is growing at around 2% a year.
Table: Market Analysis
Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Customers Growth CAGR
Home PC Users 7% 25,000 26,750 28,623 30,626 32,770 7.00%
Small Business
Users
2% 10,000 10,100 10,201 10,303 10,406 1.00%
Other 0% 0 0 0 0 0 0.00%
Total 5.39% 35,000 36,850 38,824 40,929 43,176 5.39%
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