Entrepreneurship Venture: Starting a Truck Service Company in Australia

Running head: ENTREPRENEURSHIP VENTURE
Entrepreneurship venture
Name of the student
Name of the university
Author Note:

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ENTREPRENEURSHIP VENTURE
Table of Contents
Introduction......................................................................................................................................3
Overview..........................................................................................................................................3
Mission of the Company..................................................................................................................5
Vision of the Company....................................................................................................................5
Evaluation of the Innovation process..............................................................................................5
Benefits of implementing the new Business opportunities..............................................................7
Challenges of implementing the new business opportunities..........................................................8
Strategies to move the new business venture from the early stage to the growth stage................10
Support Systems provided by the government to facilitate entrepreneurial activities..................12
Conclusion.....................................................................................................................................12
References......................................................................................................................................14

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ENTREPRENEURSHIP VENTURE
Introduction
The following report has prepared a detailed plan to start a new entrepreneual venture.
The report will be highlighting the important elements or components that are needed to start the
following venture. It starts with an overview of the business venture that will discuss the types of
products to be sold by the organization, the target market of the organization and more
specifically the industry in which the business will operate itself. The evaluation of the
innovative measures will be discussed in the next part which will be followed by the benefits and
challenges that the the implementation of the business in the market will experience. The report
will also discuss the different strategies that will be implemented in its transformation from the
early stage to the growth stage of the business life cycle. Last but not the least in any ways the
report will highlight the support system that the government of the country has in place for the
new business ventures. This will include the policies and the procedures in place for the
extensive growth of the business.
Overview
The entrepreneur venture will be a new Truck service company named “Aussie Truck
services” has been selected for this particular project. The name “Aussie Truck Services” is the
best name for the organization as because it brings with it a sense of nationality. The company
will be operating in the truck service industry and will provide trucking services to both private
and public sector organizations. The company will be offering both for-hire trucking as well as
private carriers. However the largest portion of the business will be derived from the private
carriers of Australia. Both truck load as well as less than truck load will be offered to the private
players to gain the maximum possible revenue from the business. The “Aussie Truck Services”

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will be the especially attractive to the food industry as because the participants in the following
industry use referrals, customer service and reputation as the variables for purchase. The
management of the organization has earmarked its target group of customers before the start of
operations. The company will be serving four different kinds of market segments. As mentioned
earlier the first and foremost industry that it will serve is the food industry just because of its
exclusive profit. The following segment is supposed to be experiencing a growth of 3% annually.
The management has already identified around 2000 potential clients who will be in need of the
truck services once the company starts its operations. Currently there is a shortage in the truck
industry in the island continent which is the main reason for the high demand of the different
kinds of trucks ranging from high utility to low utility.
The second segment is the retail industry which again is estimated to grow at the rate of
almost 10% annually and last but not the least the heavy products industry which includes the
transportation of different heavy duty products like cars, vehicles buses, steel and many other
kind of similar products. The rise in the economy of the country has led to the increase in the
demand for different cars and personalized imported vehicles which need to be transported from
the ports and airports to the warehouses or showrooms. This provides another prospect for the
company to utilize. Thus all the three segments will result into an unprecedented growth of the
new entrepreneurial venture.