SWOT analysis for strategic planning
Write about the Business Plan For Nitty Gritty Cleaning Services.
A business plan is a strategy set by the managerial team of a firm in order to maximize the profits gained over a certain period of time. A business plan is a key to ensuring the success of a firm. Owing to the initial prevailing conditions of a business firm. The initial analysis of a firm is a determinant in the final success of a firm. SWOT analysis is an important thing to highly take into consideration during the process of strategy making and business plan in the various departments in the particular firm. The managers now come up with amicable solutions which will propel the firm into further developments and success (Schulze, 2018). This has been attributed to the serious and dire evaluations done during the process of planning for the business. Internal analysis is very vital in the Nitty Gritty Cleaning Services since internal analysis digs deep into the performance of a business entity.
To be successful in the field of business, it is key to ensure that the business plan is drafted by professional and skilled experts who are experienced in the sector of business. Therefore it is crystal clear that in the context of unskilled staff, poor results might be obtained. Nitty Gritty Cleaning service is a private limited company that mainly is classified into a service industry. This company deals with several ceremonies such as funerals, wedding parties and invitations and outside catering at very affordable prices. It has been operational for more than six years hence accrued all the attached to an established firm. Although it had some complications at registration, the firm currently is a renowned company for the high-quality services with experienced staff who value their clients’ demands and work hard to ensure the customer satisfaction rate is very high and pleasing. Thus Niitty Gritty needs a business plan more than anything else when it comes to strategizing the company’s goals and objectives.
The main obligation of the Nitty Gritty Cleaning Services is that apart from maximizing profits is to ensure that the goals set are achievable. .Hence goal setting is key in ensuring that the business plan is keenly prepared and synchronized. One of the major affluent of a successful business is a good and sober operational plan (Lewis, 2016). A business plan that carefully highlights the accepted and the unaccepted in a business will result in the success of the firm. The hiring of very skilled staff with full of experience is key to ensuring that the goals of a business are achievable. This is an amicable way of the goal achievement as the pool of labor injected into the business is more positive and vibrant in the process of making sure that the business goals that were set are surpassed.
Key aspects of a successful business plan
Modern technological know-how in the businesses. It is key in ensuring that the business becomes successful in its endeavors. The use of more tech logical advances is vital during the simplification of hectic duties into more less strenuous activities. The availability of the required technological devices will enable the managerial to minimize the cost of labor and maximize output in the business entity. The use of more developed technological devices make work easier and simpler to run and manage the business This is due to the more technological advances which make work easier and quicker in the industry (Abrends,2016). The usage of modern-day cookers is key not only in time-saving but also ensuring that the final products by the catering service are of high quality and appealing to the customer in the industry.
Cleaning services are in very high demand especially now that parties are held almost every week in various places. The high demand creates pressure for the maximization of services to serve the customer base regardless of the size. In an attempt to satisfy the customer base, the supply of products and services rendered thus increases in the production. The entry of this firm into such a competitive service industry require more attention. This is factual as any new entry into any market has to undergo certain simple steps to operate fully in the market. First, the entry involves a single entity that will be customized to spy on the market trends to ensure that all the market behaviors in the service are noted down. The identification of the market behaviors is key to the strategic management of the expansion of the business from a single entity into a large renowned business opportunity. Thus during the first time, it is advisable to enter the market as a very simple entity for gaining the market knowledge.
The market for catering services has never been an issue to the particular industry. It requires being smart to win more customers to your side. The winning of customers is done by bringing in attraction incentives and maintaining high-quality production. The referral program. This is an important plan that is used to attract more customers to the service company. A customer refers a friend to the service industry and the referee gains a 5% bonus for referring a client to the company (Matfoizhagan, & Krishnamoorthi, 2018). This enables Macdonald cleaning service to gain the number of customers it has over time thus leads to more success and establishment of the business. The use of a sales team is also a nice plan. This occurs commonly in the social media sites where websites and blogs belonging to the business entity whereby the products and services offered are communicated to the potential customers. The sales team can also use the pamphlets to share information about the business thus enabling it to grow the customer base.
Customer acquisition and retention strategies
The cleaning company has its own goals set. However, the goals of the business entity are split into short-run achievements and long-term achievements. The short run achievements include the goals that the business is eyeing to fulfill in a year while long-run achievements are the proposed goals that the business entity has a time limit of over three years (McKeever, 2018). On the short run achievements: The business entity aims at collecting $85k as revenue goal and a growth in the customer base by 10%.This is key in ensuring the success of a business entity. The long-run achievements of the entity include being recommended by more than 300 loyal customers to other trustworthy clients who will help in boosting the customer base area and making the business a success. A long-term success criterion is also to ensure that they are recommended by the government authorities in all the works that need to be done.
The management team of the business entity is a shrewd team that is composed of all the required expertise. From the senior manager, there is the department of human resource which deals with all incidences of labor, there is the business accountant, the team coordinator and the regional manager who is key in ensuring that everything is done I order. He is finally in the allocation of duties to the staff in the business (Albartoa, 2017). With more fund, there is the need for the procurement officer and the auditors who will be responsible for auditing the financial statements to ensure transparency in the business.
The customer base for the business industry has to accommodate as many customers as possible. This occurs through the analysis of the cost of acquiring new customers. The cost of acquiring new customers is a little bit costly though it comes along with the advantage of expanding the customer base thus increasing the business sales thus increasing sales. The cost of offering discounts are usually attached to the business. The discounts which may be from 5 to 10% are key in attracting the customers into the business. The cost of social media advertising such as websites and also the use of pamphlets are also incurred by the business in a bid to increase its customer base ( Al-Ghwayeen, & Abdallah, 2018) The costs are divided into fixed and variable costs and they should be internalized properly. The estimated cost of customer acquisition can be $30.
Customer throughput. This refers to the rate at which a firm satisfies the customer with all the required products and services. Here the number of goods and services offered to the customers are highly biased. The target number of customers is 300 in a duration of three years thus evaluation and keen analysis is highly recommended. The service delivery of high quality usually provides the sense of quality and peace of mind to the customer. This tends to result in loyal customers who then increase the customer base in the business entity. The customer throughput is calculated by subtracting the cost of customer acquisition from the lifetime value.
The cost structure. The appropriate costs should be taken into account whereby the totals for the revenue must be calculated i.e. summing up the catering services and certifications (Schulze, 2018). The total costs also have to be taken i.e. Fixed costs such as training of the staff in the catering group, marketing of the products and services provided and the rent plus the value of the variable cost in the summations. All these should be done but the customer satisfaction should be maximized to higher levels. Efficiency should be maintained in the business model such that minimizing the costs and maximizing the income generated through the products and services rendered.
References
Abrends, R. M. (2016).Prosperous business plans: The key hideouts for success.
Albartoa. (2017). Business plan. The Developed Science of Education and Technology.
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Mathews, J. (2018). Business plan. Ottawa: Advanced international business plans.
Matfoizhagan, K., Datta, U., Singla, A., & Krishnamoorthi, S. (2018). SWOT analysis. Lubbock, Tex.: CEV Multimedia.
Films Media Group, & Teletime Video, Inc. (2016). Business Plan.
Isson, & J.-P. (2018). Unfinalised analysis of the information. Improving the acquisition of customers, avoiding fraud…
Lewis, J. P. (2016). Team-based project management. New York: American Management Association.
McKeever, M. P. (2018). Writing a business plan in daily life
Schulze, C. (2018). Acquiring customers and the proper management of key values.
Ukalop. (2017). Najlaa Global Catering Services.
Al-Ghwayeen, W. S., & Abdallah, A. B. (2018). Proper business plan for the current times.
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