Enterprise & Entrepreneurship: Prime Properties Business Plan

This report presents a business plan for Prime Properties, a real estate company focused on buying, selling, and renting properties. The plan outlines the rationale for entering the real estate market, emphasizing its profitability and long-term security. It details the methods used to generate the business idea, including problem inventory analysis, and describes the products and services offered, such as rental and brokerage services. The report includes the company's vision and mission, feasibility studies (product/service, industry/target market, organizational, and financial), STP analysis (segmentation, targeting, and positioning), Porter's five forces analysis to evaluate competition, SWOT analysis to assess strengths, weaknesses, opportunities, and threats, PEST analysis to examine the macro-environmental factors, and the marketing mix strategies. The analysis aims to provide a comprehensive understanding of the company's potential for success and growth in the competitive real estate market.

ENTERPRISE AND
ENTERPRENEURSHIP

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Why this business-.......................................................................................................................3
Methods used to generate the business idea-...............................................................................3
Products and services offered-.....................................................................................................3
Vision and mission of the company-...........................................................................................4
Feasibility studies-.......................................................................................................................4
Porter's five forces-......................................................................................................................6
SWOT analysis:...........................................................................................................................7
PEST analysis:.............................................................................................................................8
Marketing Mix:............................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Real estate business is involved in providing services such as selling, buying and rent to the
customers. This business is much profitable as the value of the land never lowers instead it
always increases. Prime properties company is the real estate business company who will offer
different types of properties for buying and selling which includes residential, commercial,
industrial and agriculture land. This business plan report will include the business idea and how
it was arrived. Along with this it will also discuss the STP, PEST and SWOT and the four types
of feasibilities. It will also discuss the porter's five forces to evaluate the competition.
MAIN BODY
Why this business-
Real estate business is considered as the most promising sector for the new start-up of the
business. The scope of demand of the properties makes this sector the most profitable sector.
This sector was selected as it also the profitable business because the value of the property never
decreases instead it increases day by day. It is the long term security and has the ability of
leveraging the funds. This also provides passive income to the owner of the business. Because of
these reasons this business idea was selected as it will help the business to generate more revenue
for its growth.
Methods used to generate the business idea-
Problem inventory analysis was used to generate the real estate business idea by focusing
on the problems. This analysis helps to focus on the new product and services ideas. This
analysis was used because by this it becomes very easier to relate with the known products and
services for generating entirely new products and for suggesting the solution. The real estate
business is existed but there are many problems faced by the people so after understanding them
this business idea was generated. This also helps in testing the new product ideas.
Products and services offered-
The products and services offered by the Prime Properties are all the properties which are
provided in this sector. Usually, the problem faced by the people are in the rental services so by
analysing, the rental services will be provided to the people according to the needs and wants of
the customers (Chitty and et.al. 2019). The service of brokerage is also provided that is the Prime

Property company will act as the medium for buying and selling for getting in touch with each
other as well as help them in completing the transactions.
Vision and mission of the company-
Prime Properties major long term goals and objectives is to expand its wealth, going
public as well as going through the new opportunities for the business. The company wants to
grow as early as possible to lead in the competitive market as five years from now. Prime
Properties want to expand its size as well because it is new start-up, and they will work on small
scale. So, they want their business to be expanded.
Feasibility studies-
Feasibility study is an assessment of the proposed plan practically. The feasibility study
helps the company to analyse whether the company will succeed in the future or not. Prime
properties going through these feasibility studies will help this company to evaluate their future
growth (Kikavets, 2019).
The four forms of feasibility studies are-
Product/ service feasibility- This is the analysis of the proposed products and services of the
company for evaluating the overall performance. The Prime Properties is offering the real estate
properties to the customers so this study considers launching of the new venture, and the
performance of the product or service in the market as they are not successful then nothing else
matters.
Industry/ target market- This feasibility study involves the assessment of the industry
attractiveness, target market attractiveness and the timeliness of the market. Prime properties is
the business which is much demand in the present as well as in the future so by this the company
can understand that the company will grow in the future. This study includes investigating the
industry demand and competition in the market. Although, the competition is much in this sector
but because of the demand the company will grow.
STP-
Segmentation- Through this, the company can identify the niches with the particular needs,
market to find the new customers and delivering the more effective and focused marketing
messages (Corden, 2019). Prime properties can do market segmentation like geographic,
demographic, physiographic and behavioural. This will help them to effectively serve the
customers of the market.

Geographic segmentation- This is the market strategy which is used to target the products and
services at a particular location. It involves understanding the needs and wants of the particular
location (Christy and et.al. 2021). This segmentation will help Prime Properties to understand the
number of people which are interested in the investment.
Demographic segmentation- This segmentation is based on the demographic variables such as
gender, education, income and many more. This helps the organization to understand the who
their customers are according to this they can address the needs. This segmentation will help the
Prime properties to understand the market by which they can understand the target market which
are interested investment in properties as well as their needs for the types of properties.
Physiographic segmentation- This segmentation helps in dividing the consumers on the basis of
the personality, lifestyles, social status, opinions, attitudes and many more. This segmentation
helps the marketers in evaluating wants and needs of the consumers according to these segments
as this will help in satisfying every customer of the company. Prime properties will be able to
understand the needs of the types of the properties according to their culture, income level of the
customers (Veluru, 2018).
Behavioural segmentation- This is the segmentation in which the customers are divided on the
basis of their behaviour patterns while interaction with the specific business. The behavioural
patterns of the consumers includes the actions they perform in their everyday life. This
segmentation will help the Prime Properties by evaluating the actions of the consumers like if the
consumers are involved in farming activities then they might need the agriculture land (Liu and
et.al. 2019).
Targeting- It is the most important element for the start-up business as it allows them to serve to
the particular market. Prime properties will target the customers who are interested in investment
for long term as well as for short term.
Positioning- It is the process of creating the products and its marketing for fitting to the market
segmented. The tool used to figure out positioning is to understand the unique selling preposition
to the segment. Unique selling preposition is something which attracts the customers. So, Prime
properties is the real estate business, the USP of this it something which benefits the borrower.
The USP of this company is Worry free transaction.
Organizational feasibility- This feasibility study focuses on the sufficiency of the resources by
the organization to bring or launch the product or service to the market. Prime Properties must

check the resources for the business because lack of resources will not be the profitable business.
The company must ensure the resources for the successful launch of the business. The most
important resource for the organization is the budget (Mukhezakule and Tefera, 2019).
Financial feasibility- This feasibility study enables the organization to understand whether the
business plan is fiscally viable or not. It basically includes the cost benefit analysis of the
business plan. It outlines the financial risks and forecasts the expected return on investment
(ROI). Prime properties is the much financial sector business as it is related to the investment.
This analysis will be the most effective analysis for its future growth and its expansion. It will
help the company to understand how profitable the new business plan will in the next five years.
Porter's five forces-
Porter's five forces is the tool which is used by the organizations to identify and analyse
the five competitive forces which helps in shaping the company as well as determining the
weakness of the company. Through this model, Prime properties will be able to understand its
competition in the market and its weaknesses. The five forces are-
Competition in the industry-
The first force is states the number of the competitors as well as their ability to compete with
other company. The power of the company lowers when there is large number of competitors
along with the products and services they offer. Low competitive rivalry shows that the company
is stronger to charge the higher prices and set the goals to achieve higher sales and profits. Prime
properties may face high competition in the market as there are many people engaged in this
business but with this, it also has the advantage because it provides the people the rental and
brokerage services which new in the market.
Threats of new entry-
The power of the company gets affected by the new entry into its market. If the cost and efforts
are less to enter into the market then the competitor easily enters the market and can become an
effective competitor which leads to weakened the position of the company. If the industry has
strong barriers for entry then it will be very difficult for the company to enter the market which
leads remain the strong position of the company. The Prime properties company is indulged in
the highly investment business so the competitor thinks before entering into the market.
Power of the supplier-

This force states the ability of the suppliers to change the cost of the inputs. It is basically
affected by the number of the suppliers of a good or services and how much it costs to switch to
the another suppliers. The less the number of the suppliers, the more the companies are depended
on the which leads to the more power to the suppliers and has much competitive advantage. And
when there are many suppliers in the industry, the companies can easily switch to the other who
has better deals. Prime Properties company may face this problem in the industry as there are
many people engaged in this business.
Power of the customers-
This includes the ability of the customers to make the prices low as their level of power. This is
affected by the number of the customers a company is having and how important each customer
is and how much cost will be by the company to attract new customers. The small number of the
customers means that they have more power to lower or negotiate the prices for better deals.
Prime Properties company may face this problem because if the company have small number of
the customers then they may lower the dealing prices which could affect the profits of the
company.
Threat of substitutes-
The substitute products are those which are similar to the product of the another company. The
company offering the same product as the other than there is threat of the substitutes. This can be
avoided by offering new and innovative products and services to the customers. Prime Properties
company is offering different services to the customer as this will avoid them from the threat of
the substitution.
Marketing mix-
SWOT analysis:
SWOT analysis allow company to analyse strength and weakness and help them to
examine opportunities and threats that revolve around company, there are four elements in the
SWOT analysis, these are:
Strength: strength of every business organization lies in uniqueness they have, this simply
means if company offer innovative or unique product and service in the market then they can
become strong in the market. Strength of Prime Properties lies in service they provide to property
owner, this company take care of those properties and try to rent them with permission of owner
(GURL, 2017). Prime Properties have those listing which have high demand in the market as

they are located at attractive location. This company maintain property that allow them to attract
buyer as well as seller and list their property in Prime Properties official site.
Weakness: weakness of every business organization lies in those areas where company need
improvement, weakness of Prime Properties lies on free maintenance service they provide to the
property owner which cost highly to them. This company only target elite group of people which
limit their marketing process, this is weakness for company as they are not reachable to those
interested buyer who willing to buy prime properties in the country. This company have limited
number of elite buyer because some property owner have denied selling property at listed price
which impacted their brand image and reputation in real estate market.
Opportunity: opportunity is one of the most important thing for every business organisation,
this allow them to boost their sales in the market, opportunity are automatically generated if
company improve their weak area which means if Prime Properties improve those weakness
which impacting company then to can generate opportunity for example; Prime Properties have
opportunity to reach wider area of audience with effective marketing strategies. This company
have to target other group according to their income level, only focusing on elite group will limit
their reach and company will not perform effectively.
Threat: threat for every business organization is competitors and their movement in the market,
it is very clear that strategies of competitor impact company's performance and become the
biggest threat. Prime Properties is one those companies who will going to face neck to neck
competition from industry ruler who have great market share and ability to attract customer
(Teoli, Sanvictores and An, 2019). Prime properties will face competition from JLL real estate
agency and CBRE real estate company. These are market giant that tend to rule over the industry
and will impact Prime Properties in the real estate market of the UK.
PEST analysis:
PEST analysis allow company to examine external factors that might impact company
and its performance, these include:
Political factor: Political factor is one of the most important element for every company,
government and its policy impact company (Perera, 2017). After Brexit, market of the UK is
unstable, government is taking steps to stable market condition. There is rapid demand in house
and properties in the UK, government is introducing new policy that every real estate company
have to consider. Prime Properties will be impacted due to policies of the government, this

simply means new tax or new consideration will be provided that will impact policy of the
company. The UK have political stability which will benefit company in other way and allow
them to deal without any barrier.
Economical factor: Economical factors is another important factor that impact company,
unstable economic condition impact performance of company. After COVID-19 impact, UK's
economy was unstable which simply means every sector will face issue, real estate market of the
UK is still rapidly changing which will impact company's position. Prime Properties will face
high inflation problem where they will loose elite customer because their wealth will be
impacted. For betterment of the economy, government is taking certain steps for example;
reduction in commission based properties and dealing of elite properties. Economic condition
have increased prices of properties and reduce sales of the company.
Social factor: social factor means customer and their behaviour in buying and selling process,
after COVID-19 impact, spending capacity of customer have impacted which means even elite
customer are not ready to buy properties in the UK. Social factors is rapidly changing, people are
adopting new process to improve their lifestyle, Prime Properties have opportunity to target those
customers who want to change their lifestyle as they will be purchasing more properties. Prime
Properties have opportunity to analyse need of customer and provide prime properties, rapid
change in social factor may impact company and its position in the market.
Technological factor: technological factor is one of the most important factor for every business
organization as this allow company to understand latest and fastest technology of the industry
they are dealing in. Prime Properties is dealing in real estate sector which is adopting latest and
fastest technology impacting company's position (Christodoulou and Cullinane, 2019). Prime
Properties do not have technological support this company still lack behind, although this
company have online presence allowing them to reach wider range of audience.
Marketing Mix:
Product mix: product mix is one of the most important element in marketing, this allows
company to introduce innovative product and service into the market to win customer. Prime
Properties need to introduce those products which have value and have ability to attract
customer, this company deal in real estate market which means they need to provide those
services or property that can stand out from its competitor (Išoraitė, 2016). Prime Properties

provide maintenance service to their guest which is one of the best way to attract new listing in
the company.
Price mix: price mix allow company to set price of the product and service according to the
market condition covering marketing cost, every business organization need to understand price
a customer is willing to pay and set price of the product and service accordingly. Prime
Properties need to set price of their product different from service they will go to provide, for
example if company select skimming pricing policy then they have to mention maintenance cost
is not included in the purchase of the property.
Place- When the organization takes decision regarding the place which means that they are
determining where to sell these products and services to its customers and how these can be
delivered in the market. This refers to as placing the product in the stores. Prime Properties must
ensure the suitable place at which these products and services can be provided (Kim and Kim,
2018). When the property is marketed it is very important that the product is sell not only to the
buyers but also to the potential distributors as well.
Promotion- This is very essential for every company as it enables the products to reach to the
public. As Prime Properties is engaged in the real estate business so the promotion can be done
by communicating with the potential buyers (Marušić, 2019). This will help the company to
advertise and promote their business for generating the revenue for the company.
CONCLUSION
This report has outlined the business plan of the organization which includes how this business
idea raised, method used to generate the business idea. Along with this, it also includes the
feasibility studies such as organizational feasibility, target market feasibility and many more.
Further, it has discussed the Porter's five forces and the marketing mix of the company. It also
includes the market analysis such as SWOT and PEST analysis of the company.

REFERENCES
Books and journals
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segmentation. Journal of King Saud University-Computer and Information
Sciences. 33(10). pp.1251-1257.
Corden, J., 2019. STP: Only the beginning. Inside Film: If. (189). p.33.
GURL, E., 2017. SWOT analysis: A theoretical review.
Išoraitė, M., 2016. Marketing mix theoretical aspects. International Journal of Research-
Granthaalayah, 4(6), pp.25-37.
Kikavets, V.V., 2019. On the feasibility of distinguishing public needs in the field of
procurement of goods, works and services for general and intra-organizational. Legal
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Kim, M.S. and Kim, J., 2018. Linking marketing mix elements to passion-driven behavior
toward a brand: Evidence from the foodservice industry. International Journal of
Contemporary Hospitality Management.
Liu, H., and et.al. 2019. Personality or value: A comparative study of psychographic
segmentation based on an online review enhanced recommender system. Applied
sciences. 9(10). p.1992.
Madzík, P., and et.al. 2021. Comparison of demographic, geographic, psychographic and
behavioural approach to customer segmentation. International Journal of Services and
Operations Management, 40(3), pp.346-371.
Marušić, T., 2019. Importance of marketing mix in successful positioning of products and
services on the market. Ekonomska misao i praksa, (1), pp.431-446.
Mukhezakule, M. and Tefera, O., 2019. The relationship between corporate strategy, strategic
leadership and sustainable organisational performance: Proposing a conceptual
framework for the South African aviation industry. African Journal of Hospitality,
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Perera, R., 2017. The PESTLE analysis. Nerdynaut.
Teoli, D., Sanvictores, T. and An, J., 2019. SWOT analysis.
Veluru, M.R., 2018. Strategic Market Segmentation in the Dynamic Emerging Markets.
In Strategic Marketing Issues in Emerging Markets (pp. 123-135). Springer, Singapore.
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