TechReturn Platform Business Plan
Added on 2023-06-04
51 Pages19169 Words453 Views
[TechReturn Platform]Second
Table of Contents
1 Executive summary.................................................................................................................6
1.1 Executive summary.........................................................................................................6
1.2 Objective of TechReturn platform..................................................................................6
1.3 Business Concept and Mission Statement......................................................................6
1.4 Keys to success...............................................................................................................7
1.5 Operation Plan Summary................................................................................................7
1.6 Company ownership Summary.......................................................................................8
1.7 Products and services.....................................................................................................8
1.8 Market Analysis Summary..............................................................................................8
1.9 Marketing Plan Summary................................................................................................9
1.10 Management Plan Summary...........................................................................................9
1.11 Financial Plan Summary..................................................................................................9
1.12 Investor consideration..................................................................................................10
2 Business description.............................................................................................................10
3 Business Project Description.................................................................................................11
3.1 Purpose of the business project....................................................................................11
3.2 Products for the business project.................................................................................12
3.3 Products’ market..........................................................................................................12
3.4 Customers for TechReturn............................................................................................13
3.5 Information needed to start the business.....................................................................14
3.6 Company ownership.....................................................................................................14
3.7 Mission and vision.........................................................................................................14
3.8 Objectives.....................................................................................................................15
3.9 Role of TechReturn platform.........................................................................................15
3.10 Matching with the demand...........................................................................................15
3.11 Revenue for TechReturn...............................................................................................16
3.12 Competitors..................................................................................................................16
4 Business environmental analysis..........................................................................................17
5 Industry Background.............................................................................................................17
1 Executive summary.................................................................................................................6
1.1 Executive summary.........................................................................................................6
1.2 Objective of TechReturn platform..................................................................................6
1.3 Business Concept and Mission Statement......................................................................6
1.4 Keys to success...............................................................................................................7
1.5 Operation Plan Summary................................................................................................7
1.6 Company ownership Summary.......................................................................................8
1.7 Products and services.....................................................................................................8
1.8 Market Analysis Summary..............................................................................................8
1.9 Marketing Plan Summary................................................................................................9
1.10 Management Plan Summary...........................................................................................9
1.11 Financial Plan Summary..................................................................................................9
1.12 Investor consideration..................................................................................................10
2 Business description.............................................................................................................10
3 Business Project Description.................................................................................................11
3.1 Purpose of the business project....................................................................................11
3.2 Products for the business project.................................................................................12
3.3 Products’ market..........................................................................................................12
3.4 Customers for TechReturn............................................................................................13
3.5 Information needed to start the business.....................................................................14
3.6 Company ownership.....................................................................................................14
3.7 Mission and vision.........................................................................................................14
3.8 Objectives.....................................................................................................................15
3.9 Role of TechReturn platform.........................................................................................15
3.10 Matching with the demand...........................................................................................15
3.11 Revenue for TechReturn...............................................................................................16
3.12 Competitors..................................................................................................................16
4 Business environmental analysis..........................................................................................17
5 Industry Background.............................................................................................................17
6 Market analysis.....................................................................................................................18
6.1 Market analysis summary.............................................................................................18
6.2 Demographics and segmentation.................................................................................18
6.3 Target market...............................................................................................................19
6.4 Market need.................................................................................................................19
6.5 Barriers to entry............................................................................................................20
7 Marketing plan......................................................................................................................21
7.1 Marketing plan summary..............................................................................................21
7.2 The objectives and goal of the marketing plan.............................................................22
7.2.1 Financial goals of the plan.....................................................................................22
7.2.2 Non-financial goals................................................................................................22
7.3 PESTEL Analysis.............................................................................................................22
7.4 Core competencies.......................................................................................................23
7.5 Situation analysis..........................................................................................................24
7.5.1 SWOT analysis.......................................................................................................24
7.6 The marketing mix........................................................................................................26
7.6.1 Product strategy....................................................................................................26
7.6.2 Distribution Strategy.............................................................................................26
7.6.3 Promotional Strategy............................................................................................27
7.6.4 Pricing Strategy.....................................................................................................27
7.7 Budget, Schedule and Monitoring................................................................................27
7.8 Market analysis.............................................................................................................28
7.9 Consumer analysis........................................................................................................28
7.10 Unique selling proposition............................................................................................28
7.11 Pricing and Positioning..................................................................................................28
7.12 Distribution plan...........................................................................................................29
7.13 Offers............................................................................................................................29
7.14 Promotional strategy....................................................................................................29
7.15 Value chain...................................................................................................................30
8 Operational plan...................................................................................................................30
8.1 Location........................................................................................................................30
8.2 Operation Procedures...................................................................................................30
6.1 Market analysis summary.............................................................................................18
6.2 Demographics and segmentation.................................................................................18
6.3 Target market...............................................................................................................19
6.4 Market need.................................................................................................................19
6.5 Barriers to entry............................................................................................................20
7 Marketing plan......................................................................................................................21
7.1 Marketing plan summary..............................................................................................21
7.2 The objectives and goal of the marketing plan.............................................................22
7.2.1 Financial goals of the plan.....................................................................................22
7.2.2 Non-financial goals................................................................................................22
7.3 PESTEL Analysis.............................................................................................................22
7.4 Core competencies.......................................................................................................23
7.5 Situation analysis..........................................................................................................24
7.5.1 SWOT analysis.......................................................................................................24
7.6 The marketing mix........................................................................................................26
7.6.1 Product strategy....................................................................................................26
7.6.2 Distribution Strategy.............................................................................................26
7.6.3 Promotional Strategy............................................................................................27
7.6.4 Pricing Strategy.....................................................................................................27
7.7 Budget, Schedule and Monitoring................................................................................27
7.8 Market analysis.............................................................................................................28
7.9 Consumer analysis........................................................................................................28
7.10 Unique selling proposition............................................................................................28
7.11 Pricing and Positioning..................................................................................................28
7.12 Distribution plan...........................................................................................................29
7.13 Offers............................................................................................................................29
7.14 Promotional strategy....................................................................................................29
7.15 Value chain...................................................................................................................30
8 Operational plan...................................................................................................................30
8.1 Location........................................................................................................................30
8.2 Operation Procedures...................................................................................................30
8.3 Facilities and Layouts....................................................................................................31
8.4 Purchasing and Distribution..........................................................................................31
8.5 Inventory Management and Control.............................................................................31
8.6 Quality Control and Customer Service..........................................................................32
8.7 Break-Even Point...........................................................................................................32
8.8 Successful operations of the company..........................................................................32
8.9 Sources of Revenue.......................................................................................................32
8.10 Customer Base..............................................................................................................33
8.11 Financing the Business..................................................................................................33
9 Management plan.................................................................................................................33
9.1 Managerial structure..........................................................................................................33
9.2 Managerial as a team..........................................................................................................34
10 Competitive analysis.........................................................................................................34
10.1 Competitive analysis summary.....................................................................................34
10.2 Current competitors.....................................................................................................35
10.2.1 Strength of competitors........................................................................................35
10.2.2 Weaknesses of competitors..................................................................................36
10.3 Potential new entrants.................................................................................................37
10.4 Indirect competitors.....................................................................................................37
11 Sales strategy....................................................................................................................37
12 Business Model.................................................................................................................38
12.1 Successful operations of business.................................................................................38
12.2 Revenue sources...........................................................................................................38
12.3 Customer base..............................................................................................................38
12.4 Financial detailing.........................................................................................................38
12.5 Business model diagram for business revenue.............................................................39
12.6 Diagram........................................................................................................................40
13 Financial Plan....................................................................................................................40
13.1 Start –up Capital requirments.......................................................................................40
13.2 Financial Projections for the Business...........................................................................41
13.2.1 Financial projections for the business in three years............................................42
13.3 Breakeven Analysis for the Sales...................................................................................42
8.4 Purchasing and Distribution..........................................................................................31
8.5 Inventory Management and Control.............................................................................31
8.6 Quality Control and Customer Service..........................................................................32
8.7 Break-Even Point...........................................................................................................32
8.8 Successful operations of the company..........................................................................32
8.9 Sources of Revenue.......................................................................................................32
8.10 Customer Base..............................................................................................................33
8.11 Financing the Business..................................................................................................33
9 Management plan.................................................................................................................33
9.1 Managerial structure..........................................................................................................33
9.2 Managerial as a team..........................................................................................................34
10 Competitive analysis.........................................................................................................34
10.1 Competitive analysis summary.....................................................................................34
10.2 Current competitors.....................................................................................................35
10.2.1 Strength of competitors........................................................................................35
10.2.2 Weaknesses of competitors..................................................................................36
10.3 Potential new entrants.................................................................................................37
10.4 Indirect competitors.....................................................................................................37
11 Sales strategy....................................................................................................................37
12 Business Model.................................................................................................................38
12.1 Successful operations of business.................................................................................38
12.2 Revenue sources...........................................................................................................38
12.3 Customer base..............................................................................................................38
12.4 Financial detailing.........................................................................................................38
12.5 Business model diagram for business revenue.............................................................39
12.6 Diagram........................................................................................................................40
13 Financial Plan....................................................................................................................40
13.1 Start –up Capital requirments.......................................................................................40
13.2 Financial Projections for the Business...........................................................................41
13.2.1 Financial projections for the business in three years............................................42
13.3 Breakeven Analysis for the Sales...................................................................................42
13.4 Risks and Rewards........................................................................................................43
13.5 Premium Services.........................................................................................................43
14..................................................................................................................................................43
14 References........................................................................................................................43
13.5 Premium Services.........................................................................................................43
14..................................................................................................................................................43
14 References........................................................................................................................43
1 Executive summary
1.1 Executive summary
The Business plan herein will demonstrate how TechReturn Platform will use its
investments in coming up with a profit of over SR. 202500 within one from the period of its
start-up. The plan’s main agenda is to be used by the owners to secure funds of amounting SR.
375000 from willing investors and loan of about SR. 1125000 from a bank which will be paid in
five years term. The funds that the plan aims to collect are for covering the costs of starting the
business.
TechReturn Platform is a private freelance organization that is aimed to connect highly
qualified freelance workers with clients who want their job done in a quality manner. The
company going to be specialized in connecting qualified freelance professional with clients who
want quality work at an affordable price. The business will be based in Saudi Arabia because
many scholars have done research and found out that the freelance market in this country can
rise up to SR. 1687.5 and above by the year 2020. Therefore, the owners of the business want to
take advantage of the raising market. Currently, Nabbesh.com and Freelnace.com are the
platforms providing the same products at a higher price, however, TechReturn Platform has
come to provide more quality services at an affordable price.
1.2 Objective of TechReturn platform
The first objective of the business is to attract 50 freelancers and 2000 service receivers
at the first year of action.
To offer quality freelance professional to clients who perform quality job for an
affordable price
To create employment for the people of Saudi Arabia who are professional but do not
have jobs.
To create positive income from operation, and somewhere around 10 percent net
benefits to products sold.
1.3 Business Concept and Mission Statement
The mission of TechReturn Platform is to offer job opportunities to freelancers and provide
quality professionals to its clients. The organization has a commitment of delivering quality
1.1 Executive summary
The Business plan herein will demonstrate how TechReturn Platform will use its
investments in coming up with a profit of over SR. 202500 within one from the period of its
start-up. The plan’s main agenda is to be used by the owners to secure funds of amounting SR.
375000 from willing investors and loan of about SR. 1125000 from a bank which will be paid in
five years term. The funds that the plan aims to collect are for covering the costs of starting the
business.
TechReturn Platform is a private freelance organization that is aimed to connect highly
qualified freelance workers with clients who want their job done in a quality manner. The
company going to be specialized in connecting qualified freelance professional with clients who
want quality work at an affordable price. The business will be based in Saudi Arabia because
many scholars have done research and found out that the freelance market in this country can
rise up to SR. 1687.5 and above by the year 2020. Therefore, the owners of the business want to
take advantage of the raising market. Currently, Nabbesh.com and Freelnace.com are the
platforms providing the same products at a higher price, however, TechReturn Platform has
come to provide more quality services at an affordable price.
1.2 Objective of TechReturn platform
The first objective of the business is to attract 50 freelancers and 2000 service receivers
at the first year of action.
To offer quality freelance professional to clients who perform quality job for an
affordable price
To create employment for the people of Saudi Arabia who are professional but do not
have jobs.
To create positive income from operation, and somewhere around 10 percent net
benefits to products sold.
1.3 Business Concept and Mission Statement
The mission of TechReturn Platform is to offer job opportunities to freelancers and provide
quality professionals to its clients. The organization has a commitment of delivering quality
professionals who will not let the customers down. The company will use all its resources and
staffs to ensure that it clients are satisfied with its operations. The vision of TechReturn
Platform is to become the biggest freelancing platform in Saudi Arabia and other parts of the
world and also to be a respected platform by its clients, its staffs, other stakeholders and Saudi
Arabia as a whole. The values of TechReturn Platform define who they are, differentiate them
from their rivals and define how they offer their products. The values include honesty, integrity,
teamwork, responsibility, and performance excellence. The operations of TechReturn Platform
are driven by the core values that have been mentioned above, they drive how decisions are
made and how activities in the organizations are run.
1.4 Keys to success
Any business must create keys to success which will guide help it in meeting and
accomplishing its objectives and visions. Therefore, for TechReturn Platform to record successes
in their business operations and meet their vision, they must have keys that lead them to
success in the operations. The keys to success for TechReturn include providing excellent and
quality services and products that will help in building and maintain the customer’s loyalty
towards the organization. Second, TechReturn Platform will develop a web platform that will
make it easy for clients to assess the products and services offered by the platform. Third,
TechReturn Platform will come up with skilled management to ensure that the business is run
successfully and lastly, the organization is committed to continuously provide quality services as
per customers’ reservations. The figure below shows the highlights how the business will be
successful.
1.5 Operation Plan Summary
In the wake of spending a while hunting down an advantageous area, the proprietors chose
to rent a business space in a thickly populated zone In Saudi Arabia Capital. The capital for
starting the business will be used in registering the company and other legal expenses, creating
website for the business, insuring the company, paying rent, employing staffs and advertising
the business to customers. The owners of the business have estimated that it will cost them
almost SR. 1875000 to start the freelancing business. The owners will contribute SR. 375000 for
starting the business while the rest of the money will be from bank and investors. Therefore,
this plan has the sole purpose of convincing the investors and bank to provide TechReturn
Platform with the remaining SR. 1,500,000. If any person wants to invest in TechReturn
staffs to ensure that it clients are satisfied with its operations. The vision of TechReturn
Platform is to become the biggest freelancing platform in Saudi Arabia and other parts of the
world and also to be a respected platform by its clients, its staffs, other stakeholders and Saudi
Arabia as a whole. The values of TechReturn Platform define who they are, differentiate them
from their rivals and define how they offer their products. The values include honesty, integrity,
teamwork, responsibility, and performance excellence. The operations of TechReturn Platform
are driven by the core values that have been mentioned above, they drive how decisions are
made and how activities in the organizations are run.
1.4 Keys to success
Any business must create keys to success which will guide help it in meeting and
accomplishing its objectives and visions. Therefore, for TechReturn Platform to record successes
in their business operations and meet their vision, they must have keys that lead them to
success in the operations. The keys to success for TechReturn include providing excellent and
quality services and products that will help in building and maintain the customer’s loyalty
towards the organization. Second, TechReturn Platform will develop a web platform that will
make it easy for clients to assess the products and services offered by the platform. Third,
TechReturn Platform will come up with skilled management to ensure that the business is run
successfully and lastly, the organization is committed to continuously provide quality services as
per customers’ reservations. The figure below shows the highlights how the business will be
successful.
1.5 Operation Plan Summary
In the wake of spending a while hunting down an advantageous area, the proprietors chose
to rent a business space in a thickly populated zone In Saudi Arabia Capital. The capital for
starting the business will be used in registering the company and other legal expenses, creating
website for the business, insuring the company, paying rent, employing staffs and advertising
the business to customers. The owners of the business have estimated that it will cost them
almost SR. 1875000 to start the freelancing business. The owners will contribute SR. 375000 for
starting the business while the rest of the money will be from bank and investors. Therefore,
this plan has the sole purpose of convincing the investors and bank to provide TechReturn
Platform with the remaining SR. 1,500,000. If any person wants to invest in TechReturn
Platform, he or she will be asked for SR. 375000 for 31.01% equity. TechReturn Platform also has
arrangements to secure a long term loan of SR. 1125000 to be paid in five years from an
interested bank in Saudi Arabia. The cash flow analysis of the company shows that they have
ability to repay the secured loan in five years.
1.6 Company ownership Summary
The TechReturn Platform will be a private organization owned by its partners and the new
investor who will have contributed the required amount to start the business. The company
plans to issue 31.08% shares to investors who. The authors will get 68.92% of the company
shres. The owners will contribute SR. 375000 as shown in the start-up cost and funding section.
The investor and the owners will have a detailed discussion about the ownership and running of
the business before sealing the investment deal. In business, it is important to discuss the way
forward before entering into any financial deal hence preventing emergence of conflict.
1.7 Products and services
Products and services are core items in a business, therefore, a business plan should
explain the products and services the concerned company will be offering. TechReturn Platform
Company will offer a number of quality products to its customers who include professionals in
video producers, qualified photographers, graphic designers, web development, and many
more. The organization will also offer web designers, copywriters, advertisers, and many
professionals from different IT field. The products and services that TechReturn Platform will
offer are better than those that its competitors offer because of their quality and quantity. For a
company to effectively compete with other organizations, they must produce unique products
which have more quality that those of competitors and that is one of the missions of TechReturn
Platform.
1.8 Market Analysis Summary
Saudi Arabia is one of the states that have technologically grown in the Middle East.
TechReturn Platform is a technological platform and needs countries that are technologically
ahead. Therefore, the choice of Saudi Arabia to be the first market to launch the platform is
strategic and also beneficial. The education level of Saudi Arabia is increasing and thus it will be
easy for the company to link with professionals that clients’ need Saudi Arabia is one of the
highest paying states compared to other four states in the Gulf Cooperation Council. The people
there earn an average of SR. 32100 per month which is 2.9% higher that the state in the United
arrangements to secure a long term loan of SR. 1125000 to be paid in five years from an
interested bank in Saudi Arabia. The cash flow analysis of the company shows that they have
ability to repay the secured loan in five years.
1.6 Company ownership Summary
The TechReturn Platform will be a private organization owned by its partners and the new
investor who will have contributed the required amount to start the business. The company
plans to issue 31.08% shares to investors who. The authors will get 68.92% of the company
shres. The owners will contribute SR. 375000 as shown in the start-up cost and funding section.
The investor and the owners will have a detailed discussion about the ownership and running of
the business before sealing the investment deal. In business, it is important to discuss the way
forward before entering into any financial deal hence preventing emergence of conflict.
1.7 Products and services
Products and services are core items in a business, therefore, a business plan should
explain the products and services the concerned company will be offering. TechReturn Platform
Company will offer a number of quality products to its customers who include professionals in
video producers, qualified photographers, graphic designers, web development, and many
more. The organization will also offer web designers, copywriters, advertisers, and many
professionals from different IT field. The products and services that TechReturn Platform will
offer are better than those that its competitors offer because of their quality and quantity. For a
company to effectively compete with other organizations, they must produce unique products
which have more quality that those of competitors and that is one of the missions of TechReturn
Platform.
1.8 Market Analysis Summary
Saudi Arabia is one of the states that have technologically grown in the Middle East.
TechReturn Platform is a technological platform and needs countries that are technologically
ahead. Therefore, the choice of Saudi Arabia to be the first market to launch the platform is
strategic and also beneficial. The education level of Saudi Arabia is increasing and thus it will be
easy for the company to link with professionals that clients’ need Saudi Arabia is one of the
highest paying states compared to other four states in the Gulf Cooperation Council. The people
there earn an average of SR. 32100 per month which is 2.9% higher that the state in the United
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