Everybody in our target market location Our Competitive Advantage A close study of the water refill station business reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry. We are aware of the stiffer competition and we are well prepared to compete favorably with other water refill stations in Bay Orleans — Massachusetts and throughout the United States of America where we intend opening outlets of our water refill stations. So also, the location of our water refill station centrally located in major road prone to both human and vehicular traffic, our large distribution network and of course our excellent customer service culture will definitely count as a strong strength for the business.
Do you need a sample micro lending service business plan template? Then below is an in-depth guide on how to start a micro lending company. Many budding entrepreneurs have tons of profitable business ideas in their heads.
And for this one reason, many business ideas have been abandoned for years. However, with micro-lending institutions now springing up everywhere, the story is changing; budding entrepreneurs are now starting their dream businesses, and many new small- and medium-scale businesses are now emerging daily.
This new trend has made micro lending a very lucrative business in itself. If you are looking to start your own business, then starting a micro lending company is one of the best opportunities you can grab right now.
Why is micro lending a lucrative business? The answer is simple: And there is a very large market for these companies, since most new businesses, which are small businesses — turn to them for start up funds. Why is micro lending gaining more popularity?
Micro lending is enjoying increased global acceptance because its primary motive is to create social development by empowering needy entrepreneurs and helping them become financially independent. Also, micro lending helps small business owners expand their businesses by giving them loans for this purpose.
These contribute immensely to the development of the society as a whole. How can you start a micro lending company? Well, that is exactly what this article is all about. If you seem to be interested in the business and would like to take a plunge, the following are the steps you need to take: Write a business plan A business plan includes a lot of vital information about your proposed business, such as the startup costs and projected revenue, market analysis, and so on.
Just as a compass guides the sailor during a voyage, a business plan helps you steer your business towards achieving your desired goals. A well-written, comprehensive business plan can also help you convince investors and loan-giving institutions that your business idea is very promising.
Determine your market It is important that you develop your mission statement and make a list of your target customers.
You will want to target budding entrepreneurs and small business owners. For example, if you live in a city or country where fishery or other agriculture-based businesses are the most lucrative, you can start by offering your credit packages to entrepreneurs in those businesses.
Similarly, you can decide to target women-only businesses, such as day-care enterprises, adult care services, and so on. Other sources you can approach for extra funds include friends and relatives, banks if you have a good credit ratinggovernment, angel investors, and so on.
Depending on your state or country, the government may issue grants to entrepreneurs with promising business ideas. If something similar obtains with your state or federal government, apply for it. Register your company You will need to register your micro-lending company with the appropriate agency.
You will also need to obtain all the necessary licenses and permits. And most importantly, you must fulfill legal obligations required by your state of federal government to avoid falling into problems.
Hire quality personnel This is the most important step in setting up your micro-lending company. All your employees must have relevant qualification and experience in financial lending as well as small business assessment.
They must know what it takes to build solid relationships with customers, and they must be willing to achieve that. They must also be able to efficiently execute the factors included in lending applications.
Bottom line By effectively implementing the steps above, you will be able to set up your micro lending company without any problems. However, remember that micro lending is not based on traditional bank lending requirements.
Before giving any loan, you must ensure that the applicant has the ability to repay the loan.
To set up your business, you will need more information as well as professional advice from both an experienced accountant and a solicitor.A business plan is an essential step for any prudent entrepreneur to take, regardless of the size of the business.
This step is too often skipped, but we make it easy for you by providing a format to build your plan as you progress through this course. Are you about starting a water refill station? If YES, here is a complete sample water refill station business plan template & FREE feasibility report.
1 Generico, Inc. An Example of a Complete Business Plan EXECUTIVE SUMMARY Company Generico, Inc.
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Business Plan Sample, Management, Ideas, Proposal and Philippines Franchising Creating the perfect business plan is an art for the investor in you. Before making any final decisions, allow our family to give you some insights from our point of view on the current climate of investing in the Philippines.
This sample business plan will provide you with exact guidelines for starting up a business that offers food preparation services. Before you can start your new interior design business you will need a detailed business plan and this sample has the ideal guidelines.
Start up an auto repair shop.