Comprehensive Business Plan: Nick & Johns Legal Consultancy Services

This report provides a comprehensive business plan for Nick & Johns, a newly established legal consultancy firm in the UK. The plan details the company's venture, including its partnership structure and the services it offers to businesses. It analyzes the marketing mix using McCarthy's 4Ps (Place, Product/Services, Price, and Promotion) to define strategies for market positioning and customer acquisition. The report also examines employee roles, the advantages and disadvantages of zero-hour contracts, and customer analysis using cohort analysis. Furthermore, it explores potential business expansion strategies, such as acquiring new services and expanding into new territories. The report draws on various academic sources to support its analysis and recommendations, providing a practical framework for the company's growth and development.

Introduction to Business

Table of Contents
INTRODUCTION...........................................................................................................................1
Business Plan Part 1.........................................................................................................................1
1. Business Venture.....................................................................................................................1
1.1Business type..........................................................................................................................1
1.2 Research................................................................................................................................1
Business Plan Part 2.........................................................................................................................2
2.1 Applying McCarthy’s 4Ps.....................................................................................................2
2.2 Employee/staff......................................................................................................................3
Explains the job roles assigned to the business employees.........................................................3
Advantage or disadvantage of zero-hour contract workers and agency staff.............................4
2.3 Customers/Clients.................................................................................................................4
Business Plan Part 3.........................................................................................................................5
3.1 Explaining how the business could expand in the future by giving strategies and example 5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Residents of low income neighbourhoods often must deal with a lack of retail establishments
in their neighbourhoods and those businesses that are located in low income neighbourhoods
often charge significantly higher prices than similar businesses in other parts of the district.
Present study based on the new venture started in UK is Nick & Johns who recently started a
new business under which they provide legal consultancy services to the other businesses or
firms. Present will be explaining about the new venture and their business plan to understand
more about their target customers and business evaluation by supporting with business models.
Business Plan Part 1
1. Business Venture
Nick & Johns are the newly started venture with the aim is to provide legal assistance
services to the other businesses (Allweyer, 2016). The first branch of this company is started in
the new business growth in order to build up the new succession planning challenge. Nick &
Johns has started their business with new concepts to provide a professional and comprehensive
legal costs service to law firms or some other businesses as well.
Nick & Johns USP is they launched their business with some new talent or though
process that helps businesses to run business activities in smoothly. Nick & Johns have
capabilities to beat the competition in the market. In order to gain profit in the market. Nick &
Johns provides international services with limited country with different languages.
1.1Business type
Nick & Johns is the firm which started by two members Nick and Johns (Armstrong and
et.al., 2015). This is a partnership firm in which both the member sharing equal loss and profit.
the purpose behind this business model is to minimise the legal issues handling by the small as
well as big organizations. In present complex market and level of the competition, businesses are
too busy in other activities. Due to which they invest less time on legal activities which leads the
critical situations.
1.2 Research
There are many firms and businesses has already existed in this market in order to analyse
the competitors present this sector are. Is to evaluate the measure goals and services that
provided by the companies to the other firms. There are some competitors of Nick & Johns are
Digiterra Group, Abeam Consulting, AlixPartners, Aon Consulting etc. To provide legal services
1

to the businesses are the most essential concern for the businesses for they take helps from these
legal consultancies (Erasmus, Strydom and Rudansky-Kloppers, eds., 2016).
In UK the demand of Legal consultancies has been increased in the market, financial
advisory segments deliver consulting services that build strong financial analytical fundament.
Services offerings span a wide variety of topics, such as transaction services. The demand of this
services is very high because through this process clients can take the accounting and financial
reporting challenges facing their business and the finance function.
Business Plan Part 2
2.1 Applying McCarthy’s 4Ps
Marketing mix is the concept which simply define the importance of marketing activities
which is essential for the company to defined. It elaborates the long-lasting growth and
challenging business task to affect the business into long lasting manner. It is the combination
there of in the place at the right time, and at the right and at the right place.
Place: Place is the most significant marketing mix that should be set properly se per the client
requirements (Galí, 2015). Company should need to set the place of the company where client
can easily contact to the company. Nick & Johns legal advisory agency can adopt distribution
strategies from the following:
 Intensive distribution
 Exclusive distribution
 Selective Distribution
 Franchising
Nick & Johns should need to adopt Intensive distribution strategy to solve the client query
from anywhere with full flexibility.
Products/Services: Product or a service is the main consideration for which transaction has
been occurred between customers or businesses. It helps to define the long range of development
growth in order to build up the new range of styles. Company should need to aware about the
product they launch into the market in long lasting manner and growth. Nick & Johns should
also need to investigate the actual need or growth for the new development channels and new
long-lasting development growth. Product or services is the main identify for the business for
they known (Koument and Williams, 2016). This will be promoting the new range of new style
and growth for the new management task. Every successful marketing strategy begins with goals
2

and analytical setups. Besides, Nick & John needs to adopt long range of new style management
that directly or indirectly affect the new range of style and effective developing goals. Nick &
Johns provides legal consultancy services to the businesses situated ion UK. They also provide
services to the company at great level of things.
Price: Price is another potential element in marketing mix on which customer pays for to
enjoy it. Price is very important component to be considered. It has been suggested that, new
ventures or new start-up companies should adopt the low pricing strategies to deal with clients at
a very first time (Liu and et.al., 2017). Adjusting the price of the product has a big impact on the
entire marketing strategy as well as greatly affecting the sales and demand of the legal services.
Pricing is the very effective mix that shows and shape the perception of the product in consumers
eyes. Always remember that a low price usually means an inferior good in the consumers eyes as
they compare. For new stratus company should always adopt market penetration pricing to get
the customer attention towards the company services.
Promotion: Promotion is the most significant mix which plays important role in within the
organization. It promotes the brand recognition and sales of the business for more expansion
growth. Promotional is a fruitfully activity for the new ventures that affect the new business
growth in order to select the best advantage and opportunity task. It helps to boost company
promotional activity (Shaw, 2016). Such as sales organization, public relations, advertising and
sales promotion. Public relation is the best promotional activity that can built by new ventures it
helps to keep the all things proper and effective generating goals. on the other hand, sales staff
plays a very important role in public relations and word of mouth.
2.2 Employee/staff
Explains the job roles assigned to the business employees
Role of Manager
In new start-up or a venture Nick & Johns has recruited 7 employees. In order to recruit the
employees as per the specific role or for the responsibility. Manager is the person who liable or
handle this situation to make productive team for the company. Manager needs to identify and
check the vacancy position which is beneficial for the company growth (Quinlan and et.al.,
2019). Besides, manager liable to recruit individual persons as per their requirements and
individual skills and education qualification. Manager play a crucial role in the business who
manages all work responsibility and ensure to accomplish the business objectives.
3

Advantage or disadvantage of zero-hour contract workers and agency staff.
Zero-hour contract is the agreement between employer and employee with no guarantee of
hours. The main clause of zero-hour contract is, it has no legal implication or duty to the person.
It is the flexible option for both parties to either say yes or no to the task.
In this agreements worker can take break, annual leave, protection against discrimination,
not work more than 48 hours per week etc. on the other side, as in employee individual liable for
some rights are liable for statutory maternity, paternity, adoption and shared parental leave, sick
leave pay, minimum notice period.
Advantages
Flexibility: It has flexibility of the source which covers the new effective source
planning to bring new possibilities of growth. In this agreement lots of flexibility is involved in
the business to bring new ideas and thought (Ravalier, and et.al., 2019).
Freedom to get other work: in this both employer and employee can work in flexible
mode and can switch to other places as well when they feel to go.
May lead to permanent work: In this agreement it provides opportunity to employee to
decide weather they want to continue their work in the same firm or not. Besides, it also helps to
redefine the work into most effective for the individual to decide to exist in the company for
permanent basis.
Disadvantages
No Fixed income: it is not very fruitful for employee to get existence place in the
company as long in the business. Employee is not recruit at the fixed income in the zero-hour
income. It is not fixed how much employee earn each week.
Damage to social life: if individual not interested or want to miss out on work from the
employer. Employee find out itself waiting at home and turning down normal social activities.
2.3 Customers/Clients
Customers are the main element for which companies produces their product or services.
Client are the individuals who helps companies to earn profit and sales revenue. On the same
hand, customers who also affect company directly if they fail to their expectations. Besides, Nick
& Johns neds to set their customers as per the demand of the market and long-lasting
effectiveness (Shaw, 2016). Nick & Johns required to analyse the behaviour of customers in
order to meet out the long lasting sustainable growth or challenges to meet out the company
4

development goals. in order to target customers for the company for that company should use the
model Cohort analysis to analyse the customer behaviour.
Cohort Analysis
Cohort is the powerful and insight method to analyse a specific metric by comparing its
behaviour between cohorts or groups of customers. For Nick & Johns legal advisory legal
agency their target customers are businesses or start-ups who need to understand about the legal
compliances and needful channel for the businesses (Ross, 2016). With the help of this model
company can easily understand their target group of customers who definitely come to the
company as much as possible. Mentioned the long term effectiveness which helps to build the
long term goals and make the good impact on the overall business.
Business Plan Part 3
3.1 Explaining how the business could expand in the future by giving strategies and example
Business expansion is the next step towards the business ventures, they have huge scope to
develop their functions or business profit by adopting new source or methods to develop. In
future Nick & Johns legal advisory agency can also expand the business functions by applying
below given strategies.
Acquire new products or services: this is the best way to enhance the business growth and
make customer more satisfied with the company performances. Customer always looking for the
best services as with before. In order to that, it is very much required to make often changes in
the services to retained the potential clients (Shaw, 2016). To adopt new services can also helpful
to beat the competition in the market. So, this is the first option that could be adopted by the firm
to expand the business revenue and market reach.
Expand into new territories: This is another strategy that company can adopt for business
growth. Generally, this strategy adopted by those firms who earn enough profit and reputation in
the market. With good market share and reputation businesses can also enhance their business
into new places to get more profit earnings. For example: Nick & Johns can also start businesses
and their services at global or international level by launching services into the new country.
Target new customers: Most businesses target their sales and marketing efforts to specific
customer market based on demographic like age, gender and location etc. this is another strategy
or option that company adopts (Ross, 2016).
5

CONCLUSION
As per the above report it has been analysed business venture activities. Present report
discussed the important aspects of business venture that company should need to be considered
in the planning of business. Besides, study also discussed about the marketing mix which
essential to build marketing planning and also discussed the competitors in the sector. Overall,
study presented the business plan in which its consists all the necessary components have
mentioned.
6

REFERENCES
Books & Journal
Allweyer, T., 2016. BPMN 2.0: introduction to the standard for business process modeling.
BoD–Books on Demand.
Armstrong, G. and et.al., 2015. Marketing: an introduction.
Erasmus, B., Strydom, J.W. and Rudansky-Kloppers, S. eds., 2016. Introduction to business
management. Oxford University Press Southern Africa.
Galí, J., 2015. Monetary policy, inflation, and the business cycle: an introduction to the new
Keynesian framework and its applications. Princeton University Press.
Koumenta, M. and Williams, M., 2016. An anatomy of zero-hour contracts in the United
Kingdom.
Liu, Y. and et.al.,2017. The effects of products’ aesthetic design on demand and marketing-mix
effectiveness: The role of segment prototypicality and brand consistency. Journal of
Marketing. 81(1). pp.83-102.
Quinlan, C. and et.al., 2019. Business research methods. South Western Cengage.
Ravalier, J., Morton, R., Russell, L. and Rei Fidalgo, A., 2019. Zero‐hour contracts and stress in
UK domiciliary care workers. Health & social care in the community. 27(2). pp.348-355.
Ross, D. F., 2016. Introduction to e-supply chain management: engaging technology to build
market-winning business partnerships. CRC Press.
Shaw, S., 2016. Airline marketing and management. Routledge.
7