IFixit Repairs: Business Plan - University Business Project

The provided document is a comprehensive business plan for IFixit, a mobile repair and maintenance service targeting cell phones and laptops. The plan includes an executive summary, business canvas model, mission statement, and details on service operations, business ethics, and market feasibility. It features a SWOT analysis, marketing plan with 4Ps, and human resources feasibility. The plan also outlines operations, financial projections including revenue, start-up costs, and profitability, and concludes with assets and a profit and loss statement. The business model focuses on providing home repair services and aims to capture market share by offering quality services and technological solutions. The plan also addresses competitive threats and strategic alliances to ensure market success. This business plan is a student project offering a detailed framework for launching and managing a mobile repair business.

0Business Plan
Business Plan
Name of the Student:
Name of the University:
Author’s Note:

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BUSINESS PLAN
Executive Summary
The main purpose of the assessment is to formulate a business which would be focusing on an
innovative business idea and the same would be focusing to establish the operations of the
business. The business which is being established would be providing repairing and maintenance
services for cell phone devices and laptops. The business which the management is planning to
establish would be mobile and can effectively provide home repair services. The mission and
vision of the start-up has been explained in details and the potential business segment from
which the company will generate revenue. The business plan would be showing SWOT analysis
in order to ascertain the internal strengths of the business. The assessment would also be
including a financing plan for the Ifixit Repairs and Services which would show the start-up
costs for the business and its other financial requirements.

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BUSINESS PLAN
Table of Contents
Business Canvas Model...................................................................................................................4
What IFixit is all About?.................................................................................................................6
Mission Statement.......................................................................................................................6
Founder........................................................................................................................................6
How does IFixit Work?...............................................................................................................6
Business Ethics............................................................................................................................7
Market Feasibility............................................................................................................................7
Marketing Trends, Conditions and Analysis...............................................................................7
Strategic Alliance.........................................................................................................................8
Threat of Competitors entering this new market.........................................................................8
Market Research..........................................................................................................................9
SWOT Analysis...........................................................................................................................9
Marketing Plan...........................................................................................................................12
4P’s of Marketing......................................................................................................................12
Physical Promotion....................................................................................................................12
Digital Marketing.......................................................................................................................13
Evaluation of Marketing Performance.......................................................................................13
Human Resources Feasibility........................................................................................................13
Key Personnel............................................................................................................................14

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BUSINESS PLAN
Recruitment Plan.......................................................................................................................15
Training Plan.............................................................................................................................15
Operations......................................................................................................................................15
Service delivery.........................................................................................................................15
Distribution................................................................................................................................15
Legislation.................................................................................................................................16
Financial Feasibility.......................................................................................................................16
Revenue and Cost of Goods Sold..............................................................................................16
Start-Up Cost.............................................................................................................................17
Profitability and Return on Investment......................................................................................18
Assets.........................................................................................................................................19
Profit and Loss Statement..........................................................................................................19
Balance Sheet.............................................................................................................................20
Reference.......................................................................................................................................21

4Business Plan
Business Canvas Model
Key Partners
 The key partners
of the business
are technicians
and key
supervisors of
the business.
 The Key
suppliers of the
business will be
suppliers of
technological
accessories,
software
suppliers
 The key
ingredients are
different
accessories and
software which
can be used for
managing the
customers of the
business.
Key Activities
 The key
activities would
be including
providing repair
services for
mobile phones
and protection
software
 The Business
would be
maintaining a
Van which
would be
providing repair
services at
home.
Value Proposition
 The new
business which
is being
established
would be
tapping into this
opportunity and
establishing a
business which
would meet the
requirements of
the market.
 IFixit would be
providing the
best quality of
services to the
customers and
would be
providing
technological
solutions in case
of software
problems. The
company is
trying to solve
the customers
issue over prices
Customer
Relationships
 The customers
of the business
are main sources
of revenue for
the business and
therefore it is
important for the
business to
maintain good
relationship with
the customers.
 The business is
also engaged in
providing
services at home
which would be
helping the
business to
generate more
revenue from
operations.
Customer
Segments
 The business
would be
attracting
customers which
are mainly in
household
sectors as repair
and maintenance
is often required
by such groups.
Further the
business of
IFixit would be
focusing on
younger kids
who are always
looking for
software
updates.
Key Resources
 The key
resources which
Channels
 The business
would be

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BUSINESS PLAN
is available to
the business is
software and
technology
system.
 IFixit also would
be providing
delivery services
to the customers.
by introducing a
new product
which is
affordable by the
customers.
offering instore
services for the
operations and at
the same time
would also be
home services as
a Van would be
maintained by
the business for
the purpose of
enhancing the
sales.
Cost Structure
 The company is trying to reduce its cost in order to
attract more customers and have more profits.
 The main costs are the maintenance costs of the property
and Van which would be providing the services
Revenue Streams
 The customers are more than willing to pay for quality
repair services which is provided by the business.
 The revenue of the business would also be generated

6Business Plan
What IFixit is all About?
Mission Statement
The main mission of the business is to provide quality and quick repair services to phone
users and ensure that the customers do not have to face booking issues and further delay in the
repair services. In addition to this, the business would also be provided protection software such
as antivirus and accessories which would be helping in recovery of data. The mission of the
business is to provide products which is for the betterment of the environment.
Founder
The founder of the business is a duo of young entrepreneur who are focused on
enhancing the efficiency of mobile phone servicing. The entrepreneur would be using the most
advanced technology and would also have access to most modern protective technologies which
would help the management to enhance the scale of operations of the business and thereby
increase the sales revenue of the business.
How does IFixit Work?
The business of Ifixit is quite clear and simple and the same aims to promote instore and
mobile repair services to customers of different brands. The business would also be providing
delivery services to the customers by hiring a van which would help the customers to save time
and also receive timely services in an effective manner (McKeever 2016). The programs which
would be used by the business for appropriately supporting the customers are AASP, SARC
which would help the business to generate more revenue from the services which is provided by
the business. In addition to this, the business of Ifixit would also be dealing with broken screen,
data recovery, water damages and charging and battery issues. In addition to this, the company

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BUSINESS PLAN
would also be providing accessory protective cases for phones and tables, shatter-proof screen
protectors, wired and wireless chargers.
Business Ethics
The business of IFixit aims to effectively establish the operations of the business by
ensuring that the most advanced technology is used for managing the operations of the business.
The management of IFixit would be focusing on the responsibilities which the business has
towards employees, environment and society as a whole. The business of IFixit would also be
putting special emphasis on ethical standards in the business which would be ensuring that the
operations of the business. The management of the company would be ensuring that the services
and products which are offered by the business are sustainable in nature and thereby does not
affect the environmental activities of the business.
Market Feasibility
Marketing Trends, Conditions and Analysis
As per the trends of past, smartphone was considered to be a luxury item but the same has
changed since 2010 as more and more people have the most advanced sets of cell phones. The
owning rate of cell phones has increased up to 95% in recent time. Due to the increase in the
market of cell phones, supportive industry has also increased which is the mobile repair industry.
As per a research conducted, around $ 4 billion is generated from mobile repair business in US.
In addition to this, the industry has also shown growth by 5.5 % globally and therefore can be
regarded as an active industry. Some of the popular mobile phone brands such as iPhones have
their own established service centers for effective operations of the business which is mainly due
to the fact that around 30% of the iPhones suffers damages on a yearly basis.

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BUSINESS PLAN
The above analysis of trends shows that the business of Ifixit can survive in the market as
there is a lot of scope for generation of appropriate revenue from the operations of the business.
The analysis further reveals that the business would be able to generate more revenue if more
advanced technology is maintained and an innovative approach is applied by the management of
the company.
Strategic Alliance
. The new business which is going to be established will be operating from a store which
would provide instore services of repair and maintenance for customers who can access its in-
store facilities. The business would be attaining the licenses of big multinational companies such
as Apple, Samsung and Huawei products so that the business is able to provide a range of
services to the customers. The management of Ifixit would be focusing on maintain quality of
services in the business so that the level of service which is provided by the business. The
strategic alliance with big companies like Apple, Samsung and Huawei would enable the
business to generate more income from operations and would also help the business to enhance
the network coverage of the business.
Threat of Competitors entering this new market
The business of IFixit would also be facing high competition in the market due to the fact
that many similar businesses are coming up for enhancing the operations of the business. In
addition to this, there are also risk of competitive pressure in the market of accessories as well
which can have an impact on the revenue which is generated by the business. The business
intends to offer protective and security accessories for promoting the sales of the business and in
such a market as well, the business would be facing increasing competitive pressures. The level

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BUSINESS PLAN
of competition in the market is also high which is one of the reasons due to which the business
would be affected.
Market Research
In this world of technological advancements, everyone is dependent on some form of
technology or gadgets for conducting their day to day lifestyle. One of the most common devices
which is used in day to day lifestyles is mobile phones and it is often the case that individuals
faces some problems in software or some damage occurs due to phones that the same needs to
repaired. The service center which are available for such phones needs to be booked and often
the delivery date of repaired phones is missed and the deadline is not maintained (Ullah and Lai
2013). Therefore, there is a need for a business which would provide quick services and repair
such products in an efficient manner. The business would be providing high quality services to
customers at a reasonable price and the same would help the business to enhance the revenue of
the business.
In 2014, over $23.5 billion was spent by consumers in United states for replacement parts
and labor for broken smartphones. The trend shows that the market is quite favorable and thereby
has the tendency of enhancing the sales of the business in the long run. Therefore, it can be said
that the market trend in Australia is appropriate and thereby further expansion is possible in the
market.
SWOT Analysis
In order to effectively analyze the internal and external environment of the market in
which the new business would be established, SWOT analysis of the business is to be conducted
for ascertaining the strengths and weaknesses of the business. The same are listed below in
details:

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BUSINESS PLAN
Strengths
The business of IFixit has valuable inventory and the best skill set in terms of the labour
force of technicians. The business of IFixit also has the major advantage of maintaining deadline
in repaired product delivery which would help the management of the company to generate more
revenue from the operations of the business (van Beest et al., 2014). The management of the
company is also of the opinion that the data protection accessories which the business possess
would also help the business to enhance the revenue of the business.
Weaknesses
The major disadvantage for the business of IFixit is that every start-up business would
face funding issues which would affect the operations of the business. The business would also
be facing problems to manage customers if the demand for the services increases.
Opportunity
The technological advancement in the technological sector is ever growing and this is one
of the reasons that the business would be able to achieve growth in the operations of the
business. In addition to this, in the repair sector does not have a proper infrastructure to provide
home delivery services and therefore providing services at home for customers would provide a
competitive edge to the business and help the business to further expand the revenue which is
generated by the business in the long run.
Threat
The property which is used by the business is not owned by the company and therefore,
there might be an instance where the management of IFixit might have to change the location of

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BUSINESS PLAN
the area for enhancing the operational structure of the business (Whalen, Milios and Nussholz
2018). In addition to this, there are also risk of competitive pressure in the market which can
have an impact on the revenue which is generated by the business.
The above chart shows SWOT analysis for the business of IFixit and also the analysis
which is conducted above shows the internal and external environmental analysis for the
business. The SWOT analysis would be enabling the business to take actions and necessary steps
in formulation of proper strategy for the business.