Assignment 2: “Expanding Your Business”
Business 402 Small Business Management
Professor Dotty Heady
August 14, 2014
This paper contains a financial plan for a self-created business and discusses the most appropriate location for a new business with a defined reasoning. In addition, it contains a developed guerilla marketing strategy for the small business in questioned and an outlined plan for securing various sources of debt financing for that particular business as well.
When starting your own business you need to be positively sure of what you want and need to do. More importantly have a plan and be ...view middle of the document...
This was to show or give an idea of what is somewhat intended.
Develop a guerilla marketing strategy for your small business.
One good guerilla marketing strategy would be to have a person dressed up in some kind of costume a clown of some sort walk up and down the street handing out flyers and posting them up on bulletin boards and street poles. This strategy catches the eye of would be consumers in the neighborhood and children to say the least. This may also be accompanied by even registering this as a fun day in the community type event. This way you personally introduce the business to the community and its members. This could be a great way to forecast your “Grand Opening”
Discuss the most appropriate location for a second store (an actual street address) Explain your reasoning.
The most appropriate location for a second business would be the 1400-1500 block of Fairmont Avenue and Broad streets in Philadelphia, PA. The reason why this is a great location is because most store if any in this area shut down early for one. Secondly, it would be the only type of store of its kind in the area and it is thought that the community can benefit from a business of this kind in the area. And because these two are main streets and is often busy with late night straddlers and people who go out of the way to find a convenient store or mini mart for late night shopping it would be an ideal location. The thought behind this is that by opening a business such as this one thing is certain you will get all the customers because the need and demand for the service and goods being provided.
Outline a plan for securing sources of debt financing for your second store.
The planned outline for...