Customized and Affordable Electric Guitar Pedal Boards: Business Plan

This report presents a comprehensive business plan for a company specializing in innovative, customized, and affordable pedal boards for electric guitarists. The report begins with an executive summary highlighting the growing music instrument industry and the unmet needs of both beginner and professional guitarists. It then delves into the customer problem, emphasizing the high cost and lack of customization in the current pedal board market, particularly in Australia. The report outlines the benefits of the proposed business idea, including increased affordability, customization options, and potential contributions to music education and employment. It explores the feasibility of the business, analyzing the target market, the availability of resources, and the business environment. A detailed business model is provided, covering customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key partners, key activities, and cost structure. Critical success factors such as web marketing, research and development, customer relationships, and strategic partnerships are also discussed. The report concludes by emphasizing the potential of the product to disrupt the market and build customer loyalty, making it a valuable resource for students studying business and entrepreneurship. Appendices include a business model canvas, and references are provided for further research. The document is available on Desklib, a platform offering AI-powered study tools.

Running head: ELECTRIC GUITAR PEDAL BOARD 1
Innovative and Affordable Tailored Pedal Boards for Electric Guitarists
Name of Student
Name of Institution

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Executive Summary
The music industry is growing significantly over time. Musicians are expanding to the
global market by making their music interesting and suitable across cultural differences and
language. To modern musicians, quality tunes and instrumentals is a pitch to their music
regardless of the language being a barrier to the listener. That way it becomes important to
choose quality guitarist with a quality instrument. On the other hand, the music instrument
industry is growing at an even higher rate than most can imagine. Ranging from households
owning at least a guitar or a piano to a big corporation specialized in music and video production
industry. There is also a technological aspect of growth, where music instruments have become
more advanced owing to modern computation and AI Technology. The overall effect is high
existing higher demand for these instruments and increasing prices.
Most of them have become unaffordable to the starters in music industry especially
budding guitarists. Pedalboards for electric guitarists are expensive and are mostly made for the
generally diversified market. This is not affordable to the guitarist starters. Furthermore, pro
guitarists want a customized pedal board regarding features, prices, and design, to match their
experience for quality sounds. To solve this problem has presented unexploited market niche and
had the potential to grow. Our company will produce innovative, customized and affordable
pedal boards targeting fresher guitarists and pro guitarists who are looking for customization and
design coupled with affordability.
Table of Contents

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Executive Summary.........................................................................................................................2
Pedalboards for electric guitar.........................................................................................................4
Customer/Market problem...............................................................................................................4
Benefits of the idea..........................................................................................................................5
Feasibility of the Idea......................................................................................................................6
Business Model................................................................................................................................7
Critical success factors....................................................................................................................9
Appendices.....................................................................................................................................11
References......................................................................................................................................14
Pedalboards for electric guitar

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Customer/Market problem
Australia is a nation rich in diversity, culture, and geographical features. A richness that is
embodied in her music which embraces all genres and styles. From the folk song, blues, pop,
hip-hop and rock music. Most of the people in Australia love rock music. One of the best rock
bands in Australia is the AC/DC which have motivated many young people to enjoy and embrace
rock music to the extent of making it their hobby. One of the basic instruments used in rock
music is the electric guitar which requires a pedal board (Ball, 2017). A Pedalboard is a flat
board that acts as a container, patch bay, and power supply for the effects required in an electric
guitar. The pedal boards are expensive therefore unaffordable to most starter guitarists. Also,
professional guitarists are looking for tailor-made boards suit their experience. The two matches
are currently missing in the market. Matching innovation, customization and economical on the
pedal board is the new idea to enter the already explored markets.
According to Sophie Benjamin (2017) in her article "intro to pedals," most beginners should
consider buying second-hand pedals because most of the new ones are expensive. One
disadvantage of purchasing a second-hand device is that it has shorter warranty period than the
new devices (Colless, 2017). For the pro guitarist, they are looking for more customization on
the features according to their satisfaction. The features include the wheels, cases and raised
surfaces that make it easy to reach the pedals furthest away from the player. They are also
looking for more improved designs and which will be less costly to maintain.
The business idea formulated from the market niche is to create pedal boards for electric
guitars which will be economical for the beginners such that they will be able to afford new ones.

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Additionally, to make a customized pedal board with an improved new design to tap the pro-
guitarist market.
Benefits of the idea
The majority population (59%) of Australia believes that music is a good hobby and an
effective medium of expressing oneself. Therefore, making an improved and affordable pedal for
electric guitars will see music improvement and many people will enjoy the new technology of
the electric guitar. It is believed that learning a musical instrument makes one do better in test
scores or other subjects such as languages and mathematics. It is also believed that most
teenagers who play instruments have fewer indiscipline cases. Making a pedal board which will
be more affordable with an attractive look will attract many beginners. They will, thus, acquire
some or all the benefits stated by the study above (Australian music association, 2007).
The other benefit will be to bridge the gap between the affordability of pedal boards. The
innovative idea will lead to an increase in the number of pedal boards. The products will be
availed in the remote areas where musicians are forced to hire them at an expensive cost
(Darwin,2017). The new boards will be portable and will be affordable to the upcoming artist so
they will no longer hire them but will become owners.
According to Music Australia, “Australia is the third music market in the world in the
overall revenues.” This fact suggests that improvement in the musical instruments is important.
Making more people who have got the talent but are unable to access basic devices such as the
pedal boards to acquire them at an affordable price will see an increase in the revenue. This is
because more artists will be able to produce their songs with ease. They will also be able to do
live shows effectively. The business will also create employment for young people who are

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unemployed. The company will also create profit for the owner and generate revenue for the
government through tax payment.
Feasibility of the Idea
The business requires several strategies to fill the market gap available. First is to understand
its target customers, what the customers want, internal and external environment of the business,
and suppliers of the material needed, legal environment, and the economic environment.
Customers who are mostly the young men in Australia believes that playing the guitar makes
them more attractive to their opposite sex, Thus, playing an electric guitar makes it more of an
added advantage. Three-Science experiment research proved that most women are attracted to
men who play the guitar (Stow, 2017). Therefore, making pedalboards more accessible and
available will gain more customers who are using guitars for different reasons. Another ready
market includes the beginners who are unable to access the pedals because they are limited in
number and their unavailability, especially in remote areas. Additionally, there are those
guitarists who are looking for a new innovative pedal board which they can easily be customized
for their personal use.
The environment for the business is conducive all over the country. However, a more
conducive environment is the remote places because of a large number of upcoming artists who
are not able to access most musical instruments such as pedal boards. Additionally, the suppliers
of materials that build innovative pedal boards are available in the market. There is also the
availability of raw materials required for building the pedal boards including tuners,
compressors, chips, bolts, carpet tiles, and woods. Making a new pedal board is easy and also
saves a lot of money (Guitar magazine, 2015).

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The business will not require a lot of capital to start. However, close attention will be given
to the engineer who will be completing the set-up of the pedal boards. With the ideas already put
in place, the only element required is the workforce to implement the idea. Legal requirements
are the business permit and license which are relatively fair.
Business Model
Customer Segment
Our product targets a whole range of customers from beginners to professional guitarists and
households. The market is undifferentiated, and any customer can own our product depending on
their reasons and use. The product quality features, design, innovativeness, customization, and
affordability, offer the best niche to target the whole market.
Value proposition
We are offering a wide range of customization adapted to everyone from novice guitarists to
experienced guitarists. Our product will also have performance solid and compact excellence,
best quality, and innovative features which satisfy customers expectations. We will also offer
intuitive usability features to make our product give our customers the best feel and interface
needed when using them.
Channels
Our product will be distributed from music instrument stores and online services. This will
offer convenience to our customers and also play a role in reducing cost in the value chain,
which ultimately has an impact on prices of the pedal boards.

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Customers Relationships
Our customers will have 24/7 assistance from us in case of any problems in usage or
deliveries. We also intend to build a community of customers with a common interest in music
and guitar. These communities are easy to reach and also to serve their interests, through
seminars, open online forums, and social networks.
Revenue Streams
Though our main objective in producing pedal board is to serve the interests of the
customers by bridging an existing gap, we also expect to earn profits from our good services.
Our revenues will be generated through product sales: that is B2B, B2C, and B2B for MXR
relationships.
Key Resources
For our product to be marketable, we need key resources for value addition in our value
chain. Our key resources will be: human resources, that is, marketing and sales teams, creative
designers; intellectual resources, like knowledge, brand name and copyright; and financial
resources from investors.
Key Partners
For successful business and market leadership, beneficial and mutual partnerships are
inevitable. These partners work for the common good, which is a success and market
competitiveness of the product so that all remain in business. Our company will partner with
OEMs, distributors both on-line and off-line, famous artists and musicians, forum and

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communities, specialized magazines, and influencers like bloggers. Each one of these will be
engaged for a specific purpose(s) which will add value to the product.
Key Activities
Out company will mainly focus on production of affordable quality pedal boards. We will
also engage in, though not as the main business, producing other effects of guitars.
Cost Structure
For any production to be complete, there costs associated with it. We will incur both fixed
costs and variable costs which will be appropriated in the final product.
Critical success factors
Our pedal board is a novel idea, in the aspects of innovativeness, design, customization,
and affordability. Some of the key success factors are: web marketing and sales to ensure we
reach customers directly and also to avoid additional costs to the value chain, actively carrying
out research and development to improve our product and also to remain competitive in the
industry, maintaining the initial value proposition and even improve on it because it has far-
reaching influence on customers satisfaction and loyalty, maintaining customers good
relationships, and lastly creating partnerships which will add value to the company’s value chain.
Conclusion
Our pedal board is revolutionary game changer in the music instrument industry and the
whole music market. We are looking forward to becoming the market leaders in offering
innovative and customized affordable pedal boards. Our product gives value and satisfaction

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needed by our target market. Our company strives to make it a perfect brand that is the pride of
our customers, by making sure we meet their expectations and trust.
We anticipate growth in the market after launching this product, which is likely to stir up
the market status-quo. Although our competitors might take up the new development and work
on it, we stand a better position to create customers loyalty and lasting relationships and
commitments. The product is the new frontier in electric guitar pedal board market.

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Appendices
Business Model Canvas
Key partners
1. OEMs
2. Distributi
on
partners-
online and
off-line
3. Famous
artists and
musicians
4. Forum
and
communit
ies
5. Specialize
d
magazines
6. Influencer
s like
bloggers
Key activities
1. Pedal
boards
2. Other
effects for
guitar
Key resources
1. HR and sales
agents,
creative
designers
2. Intellectual
resources:
copyrights,
knowledge,
brand
3. Finance
resources
investors
Value proposition
1. Innovativ
e pedal
boards
2. Customiz
ed pedal
board
3. Affordabi
lity
4. Utilizatio
n intuitive
features
5. Good
quality
and
performa
nce
Customer relationship
1. Assistance
2. Specialized
communiti
es
3. Forums &
social
networks
Channels
1. Websites
2. Music
instrumen
t stores;
on-line
and off-
line
Customer
segment
1. From
beginn
ers to
profes
sionals
2. House
holds
Cost structure
1. Fixed cost, employees cost, R&D cost,
manufacturing cost, sales cost,
marketing cost, advertising
2. Variable cost, raw materials, energy
Revenue stream
1. Product sales: B2B,
retailers/B2C, and B2B for MXR

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