Entrepreneurship

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In our next stage, we hope our services can expand to the recycling and reuse of the home appliances and furniture. Our target is to save the waste by one item per household in the area.

Our ultimate goal is to encourage as many people as possible to work with us, helping our services by recycling and reusing the stuff we collected and repaired, reducing the home waste by ten items per household per year. Hence, reducing the waste by 80% and reuse them back to our home and city.

3. Management plan

A layout of business structure

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4. Marketing

Rationale of the existence of the business

Ez-life is an idea that already exists in every cities that we live, for example, the personal house moving trucks, small and discrete air-con repair companies, bicycle shops, recycle shops, etc. However, they are never complete and influential enough to really change the modern living style. This new venture is to combine all these tiny small shops together to form a system that based on a complete network and services providers to users that have access to a phone or internet, or near our branches. Besides, Ez-life will continue to develop more services such as recycling and re-use, reducing and re-categorizing waste.

As the urban living become more hasty and people are rushing for their living, we realize that we have less and less time to handle our households activities, such as kitchen cleaning, replacing broken lights, replacing a new component to your air-con, etc. Everything that bothers you , Ez-life is there for you. Besides solving daily problems, Ez-Life plans to encourage everyone in the city to contribute their part towards a greener city by categorizing waste and recycle usable stuff at home. Today, people have realized the importance of a greener life and reduce the burden to the city environment. Hence, Ez-life shares the same ideology in the long run

Market research needed to prepare the plan

In order to start the business, a couple of important research must be prepared before we plan out the details of operation.

- A market demand survey

Firstly, a market survey should be conducted to 500 citizens. The purpose of this survey is to investigate the demand of the basic services by an individual. The sample group shall be categorized by age and sex. The demand may be indicated by the estimated frequency of demanding a certain service, such as once a year, once a month, etc.

- A market supply investigation

Secondly, an investigation about the existing services provider shall be conducted anonymously. The purpose is to find out the supply of these services. Is the supply currently sufficient or scarce relative to the demand. What is the current market rate for these services? Who are these small and discrete providers? How much can they earn if they work on their own?

- Human capital research

Thirdly, a career survey shall be conducted to potential employees. The purpose is to understand the human capital that needed and how much is the cost of hiring them.

Market analysis

After collecting all the results from the surveys and investigations, a rigorous analysis is carried out immediately. The purpose is to know the market that Ez-Life is entering as much as possible.

Firstly, we should base on the survey results to find out the amount of services that is available in the market. Then, how many suppliers is already there in the market. Using the survey results to estimate the probabilities that a service is enquired upon Ez-Life and the possibility of these services being served by other players or being neglected by the people. Analysis regarding to the customers’ preference in choosing solving these problems shall be conducted as well.

Secondly, a cost structure is to be figured out to find out the profit margin of providing these services. The evaluation of the cost involved must be figured out carefully, such as the cost of the labor, cost of the transport, cost of the repair, cost of the maintenance, etc. Furthermore, the capital cost needed during the setup shall be factored in as well. Then, using this cost to compare with the market rate for such services to find out the profit margin for each service ordered completed.

Lastly, a complete cost, revenue and profit plan shall be figured out. Hence, there is a rough figure of the possible profit for running such services. Different price may be set for different services, and these price may subject to the time, geography and other factors. Usually, a higher margin is used for a less popular service, but a smaller margin is used for common services at accessible areas.

Industry trends

- Accessibilities and response

This industry of household services, repairs and recycle is relatively young and discrete. It is not a new business, but the players are mostly small companies located randomly in the cities. Some are easily reachable , while others can be quite hard for many citizens to reach out. Hence, the market is directing towards to a more systematic and accessible platform, so the customers know us better, in terms of the services we provides. Besides, the customers want these services as fast as possible if the matter is urgent, and usually they are willing to pay according to what they asked for.

- Personalization

Another trends for this business is a more personalized service. As everyone lives in their own unique style, and perhaps, there are hundreds of the different living environments in one city. The customers has a universal preferences on the personalized service, this is reflected in the time they need such service, the quality of the service and the range of such service.

- Trust-oriented

A business that based more on the trust rather than the price. As home services usually ask our employees to work within the customer’s home, hence, the trust that customers put in our service is crucial to the growth of our business. Moreover, this trust also determines the fate of our future goals.

Competitors and possible collaborators

For Ez-Life, it is a bit hard to identify