Setting Up Track Lock Stones and Company: A Business Plan Report

This report outlines a business plan for Track Lock Stones and Company, a private limited company focused on selling various types of stones. The plan involves sourcing raw materials, cutting and shaping stones using angle grinders, and marketing the finished gems through online platforms and exhibitions. The target market includes individuals with a monthly income of AUD $10,000 or more, with a particular emphasis on female consumers. The report addresses financial planning, strategic alliances, potential risks such as machine wear and tear, and the potential for expansion into the jewelry business. It concludes that while the gems business requires significant capital, it offers strong value creation potential, especially through strategic alliances and a focus on the target market. The report is intended to provide a detailed overview of the business, including market analysis, financial projections, and operational strategies for the proposed venture.

RUNNING HEAD: Incorporating new business
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Name of the student
Topic- Setting up new business
University Name-

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Introduction
It is analysed that starting up a new business requires evaluations of several internal
and external factors which may affect the business functioning of a new organization. In this
report, a business plan has been formulated.
The main business plan which will be undertaken in this report is to start up Gems
business. This Gems business will be set up to sell different types of stones in the market.
The business function would be to implement the proper level of the angle grinder to cut
stone to give proper shapes. This will start with buying the stones and raw material from the
vendors and use these raw stones to prepare gems. It may require several processes of the
angle grinder to cut stone to give proper shapes (D'Aveni, 2017). The name of the business
would be Track lock stones and company. It would be incorporated as a private limited
company due to its high capital requirements. The private limited company is structured as
decentralised busienss process. In addition to this, Track lock stones and company will use
online cyber computing systems for the online marketing and seminars to showcase all of its
newly designed stones (Zuzevičiūtė, Pranevičienė, and Simanavičienė, 2018). The main
reason for choosing this Gem Business is based on the international and domestic demand for
the attractive stones. It will assist entrepreneur to create value in their capital in an effective
manner. Track lock stones and company could also undertake further strategic alliance to
create the busienss relation with other organizations. The main important step would be to
hire expert members who could give attractive shapes to stones in the manufacturing
activities. The target market for Track lock stones and company would be people who are
earning monthly AUD $ 10,000 and more. The main focus of company would be on females
who like to buy gems and jewellery from the market. In addition to this, a company could
also arrange a gems exhibition in the hub to attract more clients in the market. The company
needs to set up the showroom in the porch areas of Australia to sale it's all valuable stones
(Jovanovic, et al. 2015). The first step to start up this gems business is to arrange finance and
prepare the business policies. After that, a company will use these funds to run the business
effectively. It will assist the organization to run the business effectively. The main threat
which Track lock stones and Company would face is worn and tears of machines and
destruction of stones. It may result in high loss of capital to business. This gems business will
give potential to Track lock stones and company to diversify further in Jewellery business.
Now, in the end, it could be inferred that starting up Gems business in Australia may require

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the high amount of capital investment but it will also offer good value creation on the
invested capital (Gavinelli, 2016).

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Conclusion
This gems business is gaining momentum throughout the time. It is evaluated that the
main focus of company should be on the clients who have to earn more than AUD $ 10,000
monthly. In addition to this, by using proper strategic alliance, a company could increase its
international business.

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References
D'Aveni, R., 2017. Choosing Scope Over Focus. MIT Sloan Management Review, 58(4),
p.22.
Gavinelli, L., 2016. Business strategies and competitiveness in times of crisis. Palgrave
Macmillan,.
Jovanovic, P., Romero Moral, Ó., Simitsis, A., Abelló Gamazo, A., Candón Arenas, H. and
Nadal Francesch, S., 2015. Quarry: Digging up the gems of your data treasury.
In Proceedings of the 18th International Conference on Extending Database Technology (pp.
549-552).
Zuzevičiūtė, V., Pranevičienė, B. and Simanavičienė, Ž., 2018. Cooperation between
university and stakeholders in Lithuania: a case of future of educating law enforcement
officers.