Royal Coatings 1 Page Business Plan
Overview
Royal Coatings has a clear business objective to produce quality refinishing services. These skills and services have been developed over 15 years in the industry.
The Business Objectives
A key component of our growth strategy is that we consider it critical to identify and outline our business objectives. Our key long term business objective is to grow profitability. It is critical that we balance revenue growth with the growth in our cost base. Whilst the desire for profitable growth may constrain our growth rate, it is more important that revenue growth in isolation.
The Customer
Royal Coatings has been created with a clear focus on the needs of our customers. Through a successful social network presence we are able to display our superior work and target various potential customers. Though market research in our local area we have validated the key customer problem in our market is customer service. Customer service is a critical issue for our selected target market of Automotive enthusiast.
The Value Proposition
Royal Coatings is uniquely positioned to deliver value to Automotive enthusiast. "Royal Coatings will produce high quality coatings done correctly, professionally and promptly." In order to deliver on this value proposition, we will use our experience in the refinishing field to achieve this goal. Our experience in our field gives us an unfair advantage because it enables us to produce superior results done quickly and correctly. Refinishing that is delivered as promised and done at a quality that is unmatched. T
Competitors
We have a number of competitors within the refinishing market. We consider our key competitors to be: Prismatic powder coating and Ultimate powder coating.. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Prismatic powder coating and Ultimate powder coating. Both of my competitors fail to complete jobs in a timely manner. Their lack of customer service , quality control and professionalism. Has led to the growth of my business.
Key Strategies
Over the next six months our focus will be to upgrade our equipment. This task will be undertaken in the context of our broader strategy to expand into a bigger market. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next two years are: Obtain a larger facility to help with our growth. Also we plan on launching a new product line for plating services.
About this document
Custom refinishing Business Plan
This document was created by Joseph of Royal Coatings using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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