Opportunity
Problem
Botswana has a growing number of entrepreneurs. There is also more competition amongst the existing companies, which means that there is a greater demand for market information. For companies to be ahead of their competitors, they need market research.
Solution
Palms and Bonds, a Botswana-based company, offers the knowledge and expertise that a market-opportunity-seeking company requires to enter new markets and develop new product distribution channels. We intend to provide a number of necessary services to the business community and to the public. These services can be divided into two main categories: Business and Training Services. Our business services include marketing research, market reports, project-based consultation, business and marketing planning, plan consulting, writing, plan consulting, and high-level retainer counseling. We offer training services that include seminars and workshops on topics such as sales and marketing. In-house training is also available for secretaries, receptionists, sales and marketing personnel.
Market
As a result, our intended markets are becoming more aware of the differences between low quality and high quality business consulting services. This is an important development for us because it represents our target market and provides opportunity. A growing number of people are now more aware of the value of quality information. They also appreciate concise, clear business and market plans.
A second trend is to more heavily use specialized and focused consultants instead of internal resources. Companies are increasingly looking to outsource (but few companies offer this service). They also favor variable costs over fixed ones.
Concurrence
Gaborone is home to many companies that call themselves ‘business consultants’. These businesses can be contacted to find out if they are bookkeeping or secretarial services firms. While there are companies that offer similar services to ours, they do not specialize in market/marketing research. These are some of the main competitors to us:
Why Us?
Palms and Bonds offers reliable and quality information and proposals to clients for business development, channel development, and market development. Our goal is to maximize your business development. We offer an alternative to internal resources by offering a high level of experience, knowledge, contacts, and confidentiality. We can provide solutions that are comprehensive for our clients’ problems and help them grow their businesses. Palms, Bonds is more professional and safer than working in-house. Palms and Bonds must also be able to maintain financial balance, charging a competitive and realistic value for its services, and delivering an even higher value to its clients. The initial focus will be on the development of local market clients.
Expectations
Forecast
Below are the annual sales projections over three years. The table below shows that as we gain market reputation and establish ourselves on the marketplace, sales are expected to rise faster than in the initial year.
The following financial projections are available in Botswanan Pula, (P).
Financial Highlights by Year
Financing Needed
Each co-founder will contribute $35,000 for a total investment in the amount of $70,000 Total start-up capital and expenses covered (including legal costs, logo design, stationery and related expenses) came to approximately $49,000. The additional $20,000. worth of start-up assets needed and used included personal computers and vehicles.