Market rearch business plan with payback - Assignment Example

Market Research Business Plan By Market Research Business Plan Introduction The paper discusses market research of new business proposal for MemaTech Audit Consultancy Firm. The company will exist to offer reliable, high quality, and complete services to lawyers, authorities, and individuals. The main mission of the company will be to provide results and solutions. The vision of the company is to offer innovative services; MemaTech Audit Consultancy Firm will generate a brand name in the surrounding region.

Comparative Analysis of the Existing MarketSome of the players that are most competitive in this market tend to have a comprehensive market strategy. The companies are proficient in communicating their technical analysis in non-technical manner. Additionally, they are able to execute and provide accurate results and industry specific data that is important to their customers even before a proper deal is designed. The table below shows a list of leading competitors, rank, price, and their performance.

Rank Company Price/tpsEPerformance(tpsE)1Integrated Auditing Firm $ 130.40 3775.22Business Solutions Limited $ 135.10 2475.63BrightAudits Consultancy $ 150.20 2590.84Perfect Work Limited $ 161.95 2650.25Universal Auditors Limited $ 172.89 1880.5Opportunity SpecificationsStart-up funding for the firm is $60,000. The table below break down the expenses that the company will incur and their expected revenue.ExpensesStart up RequirementsAmountLegalities $ 300.

00 Stationery Supplies $ 350.00 Collateral Materials $ 1,500.00 Wireless Set Up $ 500.00 Liability and Business Insurance $ 300.00 First Month and Lease Deposit $ 5,000.00 Marker Research Information $ 1,650.00 Website developing $ 100.

00 Computers and Printers $ 4,500.00 Total Start Up Expenses $ 14,200.00 Cash Needed $ 45,800.00 Other Current Assets $ - Long-Term Assets $ - Total Assets $ 45,800.00 Total Expenses $ 60,000.00 Expected RevenuesExpected Cash Flow123Cash Flow $ 806,800.

00 $ 1,177,600.00 $ 1,760,000.00 Cash Spending $ 54,000.00 $ 60,000.00 $ 65,000.00 Bill Payments $ 191,300.00 $ 480,020.00 $ 581,500.00 Total Cash Spent $ 245,300.00 $ 540,020.00 $ 646,500.00 Net Cash Flow $ 561,500.00 $ 637,580.00 $ 1,113,500.00 YearCash Flow0 $ (600,000.00)1 $ 561,500.00 2 $ 637,580.00 3 $ 1,113,500.00 YearCash Flow 0 $ (600,000.00) 1 $ 561,500.00 $ (38,500.00)2 $ 637,580.00 0.061 $ 1,113,500.

00  Payback Period1.06Payback periodDuring the first year the client will still have A Fraction of the second year will be Payback Period =Staffing ArrangementAt the beginning, the company will have 5 employees. I Dennis James will be the director; mandated to oversee the operations of the company. Other positions will include Mr. John Musapere as the marketing person, Kevin Bright as the Finance Officer, Carl Mix as the Personnel Director, Fred Martins as the Logistics Officer, and Mr. John Mark as the Chief Executive Officer.

Future PlanningThe future plan for the company is to develop and new marketing people by the second year. Upon the beginning of the company, the primary marketing person will be Mr. John Musapere, but will change when the revenue ascends, and the firm will be in a position to cash in human capital. Consequently, the company will have a marketing strategy that will be focussed on the prior needs analysis. The aim of the process will be to identify the needs of the client. After mapping out this, MemaTech Company will determine mechanisms to implement these structures.