a) A brief statement about what the proposal is suggesting
This particular business proposal is very interesting as it looks to introduce a new product to the market; a wireless leash that trains dogs how to walk next to their owners. With this leash, owners will be able to have control of where their pets are going. In the event that said pets go astray, the collar of Invisi-Leash will make the dog feel uncomfortable by producing a mild electric shock that will affect the dogs neck. The main aim of this production of Freedom Pet Company is to foster strong bonds between the owners of pets and their animals; this is according to the mission statement of the company. It is also quite thoughtful of the management of Freedom Pet Company to target the youth i.e. individuals of age 18-34 to be their customers; this is because such an age range constitutes people that are attracted to technology and are always thrilled by how far it can take them.
b) Analysis of the proposal with your reasoning (product, market, financials, etc.)
With an affordable price of 15.55 dollars per unit, the future of Invisi-Leash and Freedom Pet Company at large is very promising because all prospective customers would find the price to be pocket-friendly. With a disposition of 62.75 Billion that defines the pet revenue industry, Freedom Pet Company looks to cash in after capturing considerable market share from present pet owners. The owners of the Freedom Pet Company startup look to bring it into materialization with an initial capital outlay of $30,000.In addition to that, the fact that the company will be located in Dallas, Texas is advantageous because the City is pet-friendly and has approximately nine dog parks. In addition to that, the company believes that having a market niche is very much important for Invisi-Leash is very important; something that FPC as a company will not find hard to realize because the product is one of a kind. As an investor I would be confident with this product because it targets Millenials with an average income of $ 40,000 to $60,000; these are young and adventurous people who look up to new technology for discovery and have fun. Despite the competition offered by other existing and potential competitors such as SMART Dog Trainer Bluetooth and Underground Trainer Dog Fence, the company is well off to a good start.
c) Recommendation for action on the project based on the analysis
It is commendable for the prospective company owners i.e. George, Jessica, and Jennifer, to adopt a more quantitative approach when it comes to determining the viability of the project. At the moment, the business plan does not give insights on the payback period of the initial capital outlay. The fact that the business plan is largely qualitative and not very much quantitative would make me a bit hesitant to invest in the venture. Perhaps the management should use methods such as Net Present Value and Internal Rate of Return to make sure that there is a determination of the business profitability from the start. All the same, the logic of the plan makes sense and seems reasonable. In a nutshell, all the assumptions in the plan have been clearly articulated. Whats more, the product and service makes sense and have a potential market value. Overall, save for the financials that need some adjustments, the business plan is perfect.
If you are the original author of this essay and no longer wish to have it published on the collegeessaywriter.net website, please click below to request its removal:
- Marketing Term Paper Example: Customer-oriented Marketing
- Research Reaction Paper Example on the Article in the Journal of Sports Science and Medicine
- Essay on Problem of Globalization in an Organization
- Apple Company Operations - Paper Example
- Report Example on Retail Banking
- The Socio-Economic Position of Cocoa Producers - Paper Example
- Essay on General Electric and the Hudson River Cleanup