Detailed Business Plan: IA Electronics Repair Services, Chatswood

This business plan details the launch of IA Electronics, an electronics repair business in Chatswood, Australia, focusing on repairing high-end electronics to reduce e-waste and offer cost-effective solutions. The plan outlines the business structure, target market, marketing strategies (AIDA model, television and social media advertisements, flyers), and financial projections, including a first-year profit of $171,000. It covers operational aspects like the repair process, supplier contracts, technology utilization (business website), and sustainability efforts through e-waste management programs. Market research indicates a demand for in-home repair services, with the business aiming for a sales target of $240,000 in the first year and annual growth of 10-15%. The plan also addresses risk management, legal considerations, and quality control measures, ensuring a comprehensive approach to establishing and growing the business. Desklib provides students access to similar solved assignments and business plans.

BUSINESS PLAN
[INSERT YOUR BUSINESS LOGO]
[Your Name]
[Your Title]
[Business Name]
[Main Business Address]
ABN: [ABN]
ACN: [ACN]
[IA Electronics]

Business Plan
Prepared: [Date prepared]

[Business Name] Business Plan [YEAR]
Contents
Business Plan template 1
Using this template 2
Business Plan Summary 5
The Business 5
The Market 5
The Future 5
The Finances 6
The Business 7
Business details 7
Registration details 7
Business premises 7
Organisation chart 7
Management & ownership 8
Key personnel 8
Products/services 10
Innovation 10
Insurance 10
Risk management 11
Legal considerations 11
Operations 11
Sustainability plan 13
The Market 14
Market research 14
Market targets 14
Environmental/industry analysis 14
Your customers 14
S.W.O.T. analysis 15
Your competitors 16
Advertising & sales 17
The Future 19
Vision statement 19
Mission statement 19
Goals/objectives 19
Action plan 19
MS Project Plan 20
The Finances 21
Key objectives & financial review 21
Assumptions 21
Start-up costs for [YEAR] 22
Balance sheet forecast 23
Profit and loss forecast24
Expected cash flow 25
Break-even analysis 26
Recommendations 26
References and Appendices 27
Page 3

[Business Name] Business Plan [YEAR]
Business Plan Summary
[Please complete this page last]
[Your business summary should be no longer than a page and should focus on why your
business is going to be successful. Your answers below should briefly summarise your
more detailed answers provided throughout the body of this plan.]
The Business
Business name: IA Electronic
Business structure: Partnership
ABN:[Registered Australian business number.]
ACN: [Registered Australian company number, if applicable.]
Business location: Chatswood, Australia
Date established: 1.12.2018
Business owner(s):
Harpreet Singh (s4584295)
 Pasang Gurung (s4586773)
 Taku Hiraoka (s4576109)
 Rishi Pal (s4580213)
 Shivam Kamboj (s4584304)
 Amardeep Sing (s4579971)
 Sumit Pal Singh (s4580074)
Relevant owner experience: All the partners of this particular business are freshers or
new entrepreneur
Products/services: The company will provide repairing services for the high end
electronics products
The Market
Target market:
The products will be sold out to the local people in Chatswood, Australia. The people will
prefer this service because repairing of the high end electronic products is less costly
than replacement (Hopp et al., 2018).
Marketing strategy:
Page 4

[Business Name] Business Plan [YEAR]
The company will follow the AIDA model for entering in the market in a better way. At the
same time, the company will focus on different types of promotional activities like,
television advertisement, social media advertisement, flyers and many others.
The Future
Vision statement:
[The vision statement briefly outlines your future plan for the business. It should state
clearly what your overall goals for the business are.]
Goals/objectives:
[What are your short & long term goals? What activities will you undertake to meet
them?]
The Finances
At the initial year the amount of profit willbe $171000, which will increase gradually. In
order tp start the business, the company will require total fund of $56140 and for
equipment it will require total $126400. The company will avail long term bank loan and
some portion of the funds will be provided by the owners or partners.
Page 5

[Business Name] Business Plan [YEAR]
The Business
Business details
Products / services: Repairing televisions, laptops, mobile phones,
computers, camera, tablets as well as home appliances along with
providing services of free estimates on repairing jobs
Registration details
Business name: IA Electronics Stores
Trading name (s): IA Electronics
Date registered: 26th September 2018
Location(s) registered: Chatswood, Australia
Business structure: Sole proprietorship business
ABN: 15 203 931 268
ACN: Not applicable
GST: Registered for GST on 1st October 2018
Domain names: www.iaelectronic.services.com.au
Licenses & permits: Business license, Reseller’s license and Mechanic’s
license
Business premises
Business location: The location chosen for the business is Chatswood
and the space chosen for starting the business is about 1600 square feet.
There will be two different outlets in the area of 800 square feet on each
outlet. It is going to be a retail business and will be extremely beneficial
for the company, as the retail businesses offering similar services to
customers is almost unavailable, thereby showing less competition for IA
Electronics (Benson and Magee, 2018). There will also be a high profit
outcome in the company, as the number of competitors in the area is
extremely low.
Buy/lease: Both the spaces of IA Electronics will be taken on lease. The
arrangements of lease have been made with the help of two different
brokers, who were contacted for the requirements of space for opening
the outlets of IA Electronics. Both the lease contracts have been signed for
a term of 3 years.
Page 6

[Business Name] Business Plan [YEAR]
Organisation chart
The organization chart of the business IA Electronics has been provided
below -
(Source: Created by the learner)
Management & ownership
Name of owners: Mr. A. Citizen
Details of management & ownership: The owner of the business
himself will be the person responsible for running the business. There will
be no other Chief Executive Officer hired in the business until it starts
expanding its operations (Jansen, 2017). The owner himself will be playing
the role of the general manager of the company. As a result, there are no
other partners in the business.
Experience: The owner, Mr. Citizen, has been working at GPC Electronics
as a senior manager of the operations department for the past five years
and then decided to open his own business of electronics products and
services (Ottman, 2017).
Page 7

[Business Name] Business Plan [YEAR]
Required staff
In the current scenario, no more staff is required in the business.
Recruitment options
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[Business Name] Business Plan [YEAR]
In case of further requirements of staff, advertisements will be provided
on local newspapers. Online advertising will also be done about the staff
requirements (McKenzie, 2017).
Training programs
Before the commencement of the business, a training session will be held
for all the employees. The owner of the business himself will be
conducting the strategy.
Skill retention strategies
Lucrative salaries and additional incentives on achieving targets
Products / Services
Product/
Service
Description Price
Repairing
televisions,
laptops, mobile
phones,
computers,
camera, tablets
as well as home
appliances
Providing exclusive repairing
services at the lowest price
Depending on
the damage of
the products
Services of free
estimates on
repairing jobs
Stating estimates to customers on
the cost needed to repair the
product
Free
Market position: Budget products and services, much better services
than competitors
Unique selling position: Lowest cost, highest quality
Anticipated demand: High demand, on an average of 2 services
availed by each customer
Pricing strategy: Penetration pricing
Value to customer: Necessity service
Growth potential: Cost and quality of services will be driving at least
15% growth every year
Page 9

[Business Name] Business Plan [YEAR]
Innovation
Research & development (R&D)/innovation activities: Extensive
market research and development of new products for repairing electronic
goods
Intellectual property strategy: The innovations and confidential
agreements will be protected on computers through anti-virus and a
strong IT security system.
Insurance
Workers compensation: $10000 insurance for common employees
while $20000 for managers
Public liability insurance: No public liability insurance
Professional indemnity: No professional indemnity insurance as well
Product liability: No insurance for product liability
Business assets:
Business revenue: Insurance of business has not been done yet
Risk management
Risk Likelihood Impact Strategy
Customer complaints -
low satisfaction and
low sales
High Low
sales
and
profit
Keeping good service,
listening to customers,
improving services
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[Business Name] Business Plan [YEAR]
Risk Likelihood Impact Strategy
Workplace unsafety -
employee injury and
fire break out
Very low Destruc
tion of
the
workpla
ce
Checking workplace
safety, checking
safety equipments
and documents,
checking evacuation
and extinguisher
Legal considerations
The business laws and consumer laws will have considerable impact on
the business’ operations.
Operations
 Production process
 Finding out issues
 Providing estimated costs
 Deriving repair parts
 Fixing them
 Testing product after fixation
Suppliers
 ABC Repairs - mobile repair parts
 Electrolux services - TV and home appliances repair parts
 Ninety nine stores - Computer and laptop parts
There will be separate contracts for each supplier and the business.
Page 11

[Business Name] Business Plan [YEAR]
Technology (Software): Business website for customers developed by a
website developing company at $100
Trading hours: Monday to Saturday 9 am to 9 pm
Communication channels: Telephones, E-mails, websites
Payment types accepted: Debit and credit card, mobile banking, cash
and mobile wallets
Credit policy: No credit given
Warranties & refunds: No warranties or refunds
Quality control: Thorough assessment of production procedure and
checking of repaired products before delivering it to customers.
Memberships & affiliations: Not available
Sustainability plan
Environmental/resource impacts
Page 12