Market Entry Blueprint

Committin" rel="nofollow">ing fin" rel="nofollow">inancial and personal resources to ownin" rel="nofollow">ing and operatin" rel="nofollow">ing a franchise or in" rel="nofollow">independent busin" rel="nofollow">iness is a serious undertakin" rel="nofollow">ing. The success of the enterprise will depend on how diligent you are at each of the five phases of bein" rel="nofollow">ing in" rel="nofollow">in busin" rel="nofollow">iness, namely (a) Decidin" rel="nofollow">ing on self-employment or employment, (b) Gettin" rel="nofollow">ing ready for busin" rel="nofollow">iness, (c) Startin" rel="nofollow">ing the busin" rel="nofollow">iness, (d) Growin" rel="nofollow">ing the busin" rel="nofollow">iness and (e) Exitin" rel="nofollow">ing the busin" rel="nofollow">iness. For this assignment, you have decided to go in" rel="nofollow">into busin" rel="nofollow">iness. You have a choice of buyin" rel="nofollow">ing a new franchise from an existin" rel="nofollow">ing franchise brand or establish a new in" rel="nofollow">independent busin" rel="nofollow">iness. Each mode of entry requires a different approach before, durin" rel="nofollow">ing and at the end of the busin" rel="nofollow">iness life cycle. You are required to prepare a Market Entry Blueprin" rel="nofollow">int that addresses and defends the followin" rel="nofollow">ing: 1. Reason for choosin" rel="nofollow">ing self-employment 2. choice of in" rel="nofollow">industry - retail goods, wholesale goods or service in" rel="nofollow">industry 3. choice of participatin" rel="nofollow">ing in" rel="nofollow">in busin" rel="nofollow">iness- buy an existin" rel="nofollow">ing busin" rel="nofollow">iness, buy shares in" rel="nofollow">in an existin" rel="nofollow">ing busin" rel="nofollow">iness, and establish a new busin" rel="nofollow">iness 4. choice of channel to market - physical, onlin" rel="nofollow">ine and omni channel 5. choice of busin" rel="nofollow">iness model - franchise or in" rel="nofollow">independent small busin" rel="nofollow">iness 6. choice of legal structure - sole trader, partnership, company or trust 7. decision regardin" rel="nofollow">ing contracts and agreements, tax registrations, in" rel="nofollow">insurance, human resource, corporate image, marketin" rel="nofollow">ing, digital presence/SEO, licenses and bankin" rel="nofollow">ing arrangements 8. choice of fin" rel="nofollow">inancin" rel="nofollow">ing the busin" rel="nofollow">iness 9. revenue and cost budget 10. plans for resource management, staff train" rel="nofollow">inin" rel="nofollow">ing and in" rel="nofollow">incentives and customer relationship management (CRM) 11. key performance in" rel="nofollow">indicators (KPIs) to monitor busin" rel="nofollow">iness performance 12. local area marketin" rel="nofollow">ing, advertisin" rel="nofollow">ing, promotion and resourcin" rel="nofollow">ing plans 13. plan to exit the busin" rel="nofollow">iness