Saturday, July 27, 2019

Creating Your Own Start-up Business Assignment Example | Topics and Well Written Essays - 1000 words

Creating Your Own Start-up Business - Assignment Example In the very beginning the business would be limited to importing homemade ups namely bed covers, curtains, pillow covers, quilts, towels and the like. The market for such goods in the United States is not only large but rather diverse because consumers from all buying strata are present in the market. Moreover the market’s large size means that imported textile products have a low chance of getting stuck up in warehouses because there are not enough right kinds of buyers (Arthur and Sheffrin). Another advantage in starting such a business could be local contacts in the South East Asian region who could supervise the manufacturing and supply efforts. 2. Business Structure Preferably the business would have a centralized buying office in the United States close to a major port which would help in dealing with incoming supplies and custom clearance for imported goods. Moreover the business would possess overseas buying offices in the South East Asian region typically located in I ndia, Bangladesh, Sri Lanka and Pakistan (Haider). Given the restriction of funds initially the business would have only one overseas office in India to supervise the manufacturing and supply efforts. Within the United States the business would have a CEO supervising local distribution along with a small staffing. The overseas offices would have no more than two employees to oversee the entire manufacturing to ensure quality and to report delays in a timely fashion. 3. Relevance of Skill Set and Background Being a business major background would help me to focus on business areas that matter most for example I would prefer to spend money initially on surveys and questionnaires to determine market demand rather than importing blindly. Also my credentials with finance would allow me to keep a close watch over the budget to see if the business might overrun its estimated targets. Such an effort is all the more critical initially because squandering money in the beginning would be easy and would leave the business high and dry. Similarly my background in business studies would allow me to market my products more effectively as I would try to hit target market segments only instead of trying to subdue the entire market. Another major advantage that would allow me to develop this business more effectively is a contact in India who is already involved in shipping textile goods to the United States. My contact in India would be able to help me with his expertise in supervising manufacturing one on one and would also be able to ensure quality at the very first step in the supply chain. 4. Offered Services As mentioned before the business would initially offer homemade up textiles only but later as the business expands it will include garments and apparel as well. For the initial homemade ups market the business would provide a large variety of designs and styles that have been manufactured and packaged outside the United States. When the goods have been imported to the United States they will be distributed throughout the nation by the business using a complete supply chain mechanism that ensures adequate stock levels at all times. Overall the business would be offering a comprehensive supply chain mechanism for textile goods (Joshi). 5. Target Markets In order to start the business the market segments that would be most desirable to deal with are the lower and middle spending tier segments. Though there is rampant competition in either market segment but the

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