Qualification - Higher National Diploma in Business
Unit Name - Planning for Growth
Unit Level - Level 5
Unit Number - Unit 42
Assignment Title - Investing in the future & Developing an exit plan
Learning Outcome 1: Analyse the key considerations SMEs should consider when evaluating growth opportunities.
Learning Outcome 2: Assess the various methods through which organisations access funding and when to use different types of funding.
Learning Outcome 3: Develop a business plan (including financials) and communicate how you intend scaling up a business.
Learning Outcome 4: Assess the various ways a small business owner can exit the business and the implications of each option.
You are to work on a simulated business or social enterprise of your choice. This need not be complex and could be a small business, such as a local service (e.g. a new coffee shop or an online product sales business). You should choose something that interests you personally or where you may have some existing knowledge or access to resources and skills through personal networks.
You will prepare a business plan for the growth of your simulated small business or social enterprise and submit a written report.
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The country is working on innovations and new technologies. It has an extensive market through online services which can aid more in the small enterprise to develop according to the need of the new time. The new-fangled technologies are being presented in the regions which offer a good range of innovative products and services.
Canada's legalities are relaxed to adapt so that the tobacco group can originate from subsequent allconsumers and good legal procedures. No oppositions are made to the formationof the tobacco manufacturer groups and coffee shops through legal processes. The company can smoothly follow all thelegal privileges.
A good remunerated environment is fashioned in the supply chains, and haylofts of Canada are soacceptable that depositors and business makers can work in a strong environment.Working staff and workers are gratified. Occasionally overstraining has been seenthrough the engaged hours(Barik & Bhagaba, 2018).
New products / innovation
The company need to work on the new products and new encounter to promote small enterprises to the large one. The overall growth rate of the company gets established. By the time the tobacco ground will lead to the high-class tobacco industry. All they need to put some extra efforts towards the keenness of new services. The introduction of the home delivery would be way more beneficial for the company to ensure quality.
Considering all the good growth options would be much more reliable for the company to ensure its services end products. Similarly, collaboration is another thing in which basic assistance can be favored from other companies(Silinevicha & Veronik, 2017).
Investment decisions making
Before starting any business, there is a need to modify the things according to the panning need. Similarly,to bring some new services and the innovation, there is a need to look upon the business planning strategies after the funding and finance system should be assessed. The proper assessment of the resources and the sources would provide in-depth knowledge about the funding system's details. By the time there would be increase growth and the marketing rate of the company. The tobacco groups a strong common on innovation through the various eating pattern. The brand is famous for the least dealings.
If the company will look upon all the requirements efficiently, it would surely comprise of the business ide that will work. The online introduction of the tobacco products would be of great pleasure for all the consumers to enjoy home deliveries in no time. The investment decision should be proper enough in which all the stakeholders need to get satisfied on individual levels, andeither wise company can face serious harms. The second need is the decision-making strategies in hic the company will pay more to the investor after getting the refund on the good range of the products.
Source of finance growth
Financial growth needs to get proper funding. As it is not huge manufacture, they need proper investment from running the sinless new style. They need to work upon the financial system before working on innovative products and system. The product's proper advertisement and te marketing also need to put some hard effortsto exploremarketing planning.
Before taking any hard andfast decisions, this group always needs to ensure the plan's effectivity. This is only possible when the authorities will utilize their assets. Those assets which are reserved for another usage. In this way, the company can benefit others by different means. All the time seeking innovation can be experienced through personal credit cards and personal saving money. If it would seek more profit, it will ultimately increase the overall rating of that innovation and the profit can grasp the more investors on a particular project or service.
The bank loans are of great use for the tobacco group. They can enhance the innovation procedure on easy instalments. If they keep on working effortlessly, the bank can provide reasonable loans. That loan would be of great use for the company. As if the calculation would be provided to ensure the quality of the profits and the establishment. A bank loan would be of the great funding system. The different banks provide different kinds of financial loans according to the need of the business. By explaining the need, installment and easy pay back, offers are also given to the person and the SMEs(Mohsni & Sana, 2018).
It is the crowdsourcing sing the finance alternative. In these assure, the investors can look upon the different kinds of investors for small business enterprises in which a large number of people will give the less amount. But as a whole, that would be huge and enough to invest in the services' business planning and marketing. By the time the profit would increase to attract more consumers. In this way, the tobacco group can get, more benefits easy conditions. These conditions should be easy to fulfil on to work upon. In this approach, not a single person getsthe burden of funding and paying it off in the current time as the many small efforts sum au and provide ahuge range of the products with benefits. The SME's can also run social andmedia campaigns for this process if it looks suitable.
Peer to peer lending
The peer-to-peer funding is the most reliable funding system new SMEs. The company can get way more effective approaches top demonstration. The pers can give the easy instalment to the group who is working in public sectors. In the sway, the overall business working will catch large us towards the investment on a small scale. It is the money's lending by the friend of the family or the people you need to work upon. The online services can greatly pay off all the revenue effectively. The borrowers need to establish a working environment.
Angel and venture finance
These are also two different types of funding approaches. In which both of them give different kinds of benefits to the company. The venture capitalist provides the loan or money from their sources. The small business invites for good profits are margins, but the angel investors do not use their money to invest. They usually used the money of others to work upon. By the time there would be an increase quantityofthe funding. The overall profits would be divided.
The tobacco company can also consider this approach as marketing and innovation need more investment. That large investment with proper p management can provide the basic revenues and many profits to the company. The sunless plan's overall working gets smooth when the reliable investor share being provided to the small-scaleBusinessplanners. The business planners work upon the different kinds of innovations.
An assessment of the opportunities available to the business.
Cigar bar or tobacco smoke shop is a place where everyone can enjoy smoking without fear of being arrested, fine or embarrassed (Anon., 2017). At present time smoking is illegal at public place by most of the countries. according to instructions of World Health Organization to various countries of the world to restrict smoking at public place just to avoid the harmful effect of smoking on the people under the age 18 and women. To follow these instructions mostly countries prohibited smoking at pubic place i.e., Banks, shopping malls, airports, cinemas, hospital etc. (Anon., 2021). So, it will be a relief for smokers to have a place where they can enjoy smoking freely without any fear.
Actually, it is fact that smoking restriction at public place is blessing not only for the safety of health of people, as well as for the opportunist people who want to start their business venture in the field of tobacco. Although smoking is restricted at public places like cinemas, shopping malls and airports. However, it is allowed to open a tobacco shop on such places where smokers can enjoy smoking. So, it is an opportunity for businessmen to start their business in a shopping mall. But due to current scenario of covid-19 pandemic, and volatile situations of business and lockdown we online cigar shop will be feasible for new business holders.
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covid-19 pandemic, create worst scenario for the world and for the retail business. Almost all the physical business were suffering, but on the other hand online business gain their highest profit ever either its Amazon, online delivery stores, Ali baba Ali of them do their business in with highest profit of their history. So, in the modern age where on one side, world have fear of pandemic, people try to avoid public places, so our business will be a solution by providing tobacco products on cheapest rate with free home delivery for the people who want to enjoy smoking at their home. So, our business will be a blessing for smokers to get their desire products at their place in no time.
An assessment of the options for growth, applying Ansoff's growth vector matrix with an
assessment of the risk of each option.
We are going to lounge an online tobacco shop in which we will sell tobacco related products and accessories like cigars, cigarillos, martinis and tobacco products and premium cigar. Undoubtfully purpose our business to make profit but, we care the money of our clients. We provide our customers the wide range of tobacco products with accessories. We will provide imported products to our precious customers. We will provide best services to our clients with pop up Butten on our website which will welcome to our customer on vey click on our website. Trusted associate will manage this business. We will not only care our valuable clints but also take care of our staff and trained them to behave well with clients and respond complains of our clients on time.
There will be no restriction on base of gender and race adults from different communities can buy from our online store. So, there will be not any demographic and psychographic related discrimination at our online store of tobacco. Our target market will the people who are fond of smoking, and want all the facilities of smoking at their home. From our store any one can buy who have purchasing power to buy. We will have all types of tobacco products starting from one dollar, so our price range will be feasible for every Kinde of person either poor or rich, job holder or student or businessmen all are equal for us. Our products will be, cigars, tobacco-related accessories, tobacco products, cigars and cigarillos, Premium cigars, Martinis, Tobacco and E - Cigars.
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Other online business store of tobacco are our competitors, who will give us a tough competition. But competition doesn't matter if we promote our business properly in a diligent way and can make headway in the tobacco industry. We will compete market by setting our standard of best quality and making sure delivery on time, with availability of stoke in our back store every time. We will give best services to our clients with reasonable payment methods through which they can made payment easily without any hesitation and trouble. To compete our competitors well will be done our swot analysis which will aware us about our strength, weakness, opportunity and threat and how, we can covert our weakness into strength. How we can face threat by our strength.
An assessment of the options for financing growth.
Successful business planning is nothing without financial analysis. There is no green business in this world who can give us an opportunity to earn our desire profit in one day but by analyzing our competitor's growth we can access that we can make a good profit by adopting good strategies of our competitors. According to tobacco market give the opportunity to earn $66,530,000.in such vast market we have the opportunity to set targets of maximum earning. According to report of the tricone of cigar online store is Jeff's cigar store whose annual sale is about 1 million dollars. Based upon this we can projected that in this field we can earn at least 10000 dollars per year as compare to this estimation.
Assess the various ways a small business owner can exit the business and the implications of each option
When a businessman unable to run his business then he moves towards sell of business or exit from business he can adopt different ways to do that, and adopt different strategies. The different strategies which a businessman can adopt are, liquidation, liquidation over time, keep business in family, sell the business to employee and managers, sell to another company, and initial public offering.
Mostly in case of small business, when business going towards loss, then it is last option for the owner to sell out all his assets and close the business. However, he may have another option to re-organize his business and give some more time to his business (Anon., n.d.). the advantage of this liquidation strategy is that it's simple to wrap up business by selling all asset of the business. But disadvantage of this strategy is that the owner has to sell all his assets related to business may be on low cost. And the funds he drives from this sale may lost. He also has to give up his goodwill which is quite important for his business and retaining of customers.
Liquidation over time
Second strategy is liquidation over time, in this type of closing owner take time to wind up his business set up, first he withdraws all the profit from the business to re-invest in some other business. In such case the owner has time to reinvest in another profitable business and with passage of time as the new business started to give him profit, he winds up his old business. The advantage of this type of closing is that they can use profit amount for the time being and then gain a lump sum amount by selling business and reinvesting in other business. However, the disadvantage of that type of wind up is that drawing of profit may decrease the sale value of business. If there are other shareholders of business are existing then conflict can rise between them (Anon., n.d.).
Keep the business in the Family
The owner can decide to keep the business within family. In such case the owner of a limited company removes all the outsider share holder and sale all the share to his family to keep his business profit with in family (Anon., n.d.). in this type of closing, it is to transfer business to family' successors and the owner involvement in decision making can remain safe. However it will be difficult to set up a family succession plane, because conflicts can rise within family. Another possibility is that family members may not eligible for the business they may not have skills, abilities and interest to run such business. And last drawback of this decision is that the client may not like new management.
Sell the Business to Employees and Managers
Another strategy of closing a business is that, the owner can sell his business to administration and employees of the firm. In this case the company can company can remain on the same manner as before because the management and staff know very well that how to run this business. Offering of ownership can generate more loyalty among employees and boost up their moral and motivation level. He can remain part of the company by owning some shares or can become advisor of the company. But beside that manager and employees may not have such ability to run the business in well manner according to desire of the owner. Customer might not like the decision and new management (Anon., n.d.).
Sell the company in the open Market
The fifth strategy which an owner can adopt is the sell of company in the open market which is most famous choice for the small company's owner. For example, they give advertisement in the news paper for the sell of company and then sell company on bid price. This is very easy approach to sell business especially when the company is in profit and have a valuable goodwill. However, for a medium profitable business it will be not suitable because it may not attract right buyer for the business which can take time or may sell business on lower price than its actual price (Anon., n.d.).
Sell to another company
Another strategy of closing business for an owner is to sell his business to another company. This strategy is very suitable because this small business may be desire of a big company who can either merge it with its own business or expand this small business. Competitors of the business may also interest to buy that business with a valuable goodwill, and can buy quickly on a reasonable rate. But if the business is less profitable then it may not buy by the big companies or may not attractive for competitors. Another possibility is the that the big company may buy this business on lowest price which can be cause of loss to the owner.
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