For the subject Entrepreneurship, we were required to write up a feasibility analysis report on a business idea. The idea my team came up with was IT Hardware Repair Services. We carried out market research, including primary and secondary research. We were able to determine our target market, demand, up-front costs and what requirements were needed by the council in order to get started. Our lecturer, Dr. Robert Dew, encouraged us to apply the Effectuation Principles of Entrepreneurship in order to understand whether or not the business concept was feasible. We applied the Bird-in-the-Hand, Lemonade and Affordable Loss principles and found that our business idea was in fact feasible.
For the actual report we received a HD (High Distinction) and received a D (Distinction) for the presentation component. Below is a snippet of the report.
BYZ IT Services is a business that operates on the Gold Coast and helps people with any hardware or software issue they have regarding a computer, tablet or phone that they are unable to deal with themselves. We are a call in business that goes to the customer’s residence to do any job that is needed.
Our service will essentially offer our customers intangible benefits such as saving time, space and money. Our target market rely on computer repair services to be fast and reliable and that is what we are striving to achieve. We can save our customers time by delivering our services straight their door via our mobile delivery system. We can also save the customer money by only charging for what we can fix; being transparent with our charges so the customer can see where labour costs have gone and where cost of parts lie. Most competitors do not offer transparency with their clientele, which creates a trust issue between each other. If we can boast transparency with our customers, it will stand out against the competitors.
The 80/20 principle tells that 20 per cent of the customers generate 80 per cent of the demand. By analysing the external environment helps clarifying who the potential customer is. Our IT service will target single customers, commercial businesses and even the educational sectors in gold coast. For the single customers, we are aiming to target elder person who isn’t willing to pay higher fee to get their malfunction electronic stuff repaired, younger generation that break the electricity products often and easily that they have no choice but to repair at the lower maintenance fee and Chinese speaking customers that take a big portion in gold coast area. We also target small to medium enterprises and educational sectors with computers systems that damage easily and are not willing to pay high contract fee to repair computer’s problems.
Our service will be delivered to our customers through mobile delivery with access to our contact details and further information available on our website. Our target customers search for repair services online and then seek to whether or not that those services can be delivered.
There are several competitors located on the Gold coast. All offer similar services however their costs are never clearly outlined. This can be misleading for customers as there is a lack of transparency.
|Competitor||Services Offered||Competitive Advantages|
|IT Support Gold Coasthttp://www.itservicesgoldcoast.com/||MacBook and Apple RepairsPC & Laptop Repairs
|Apple Product focussed|
|Computer Guyshttp://www.computerguys.com.au/||PC & Laptop RepairsNetworks
|20 years in operation|
|Mobile Techshttp://www.mobiletechs.com.au/||Computer RepairsiPhone/iPad Repairs
Website Services (hosting, domains)
By observing our competitors we can see that they all have their specific specialities in IT repair. Some offer more services than others therefore expanding their own sphere of influence. This indicates that we need to have a broad range of services to remain competitive.