Echeverry, Simon
(2016)
Business Plan for Inventory Room.
[Dissertation (University of Nottingham only)]
Abstract
A dissertation presented in part consideration for the degree of “MSc. Entrepreneurship, Innovation and Management”
Inventory Room is seeking for approval of their partners to structure the business and establish an online presence increasing the market share by this channel, with customers in Colombia and around the world. With a management team of three Product Design Engineers experts in areas such as marketing, product design, project management, packaging, social innovation, trends, design thinking, and entrepreneurship.
The company designs marketing strategies, generate product and graphic design, and bring innovative solutions to SME’s in Colombia. Based in Medellin, Colombia, the companies can find solutions to problems in areas as graphic and product design, branding, business plans, creativity process, innovation sessions, among others.
The provided services, are a set of consultancies in areas such as marketing, product development, and social innovation. Besides, the company will offer an online platform that is customizable for businesses that require product customization like selling packaging and tags in order their customers can visualise a preview of their product and facilitate the sales process, minimising the uncertainty.
The strategy consists in three areas: Production, Marketing and Administration. Focusing on low prices, short respond time and knowledge of the trends and the market as core competencies of the company. Besides the focus on social innovation and online tools for taking the brand and business to international clients. Inventory Room search for promote their services by networking and stablishing networks with other SME’s and Star-ups in order to generate long term relationships with customers and help each other to growth.
The proposed initial investment for the firm is of USD $7,000 with an extra investment of USD $500 during the second month. The investments would provide the company with the ability to buy computers, rent office and other expenditures to start running the business and provide the consultancy services for SME’s. Therefore, the company would start selling the services and product (online platform) during the third and tenth month respectively. Generating profits at the beginning of the tenth month for the first year of operation. At the end of the third year, the company would be completely profitable. With a six consultancy sales and three online platform sales to reach a break-even point.
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