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Business Plan: Repairing Old Things Proposal Essay

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Updated: Jun 29th, 2020

Introduction

Among the existing variety of business ideas, it is hard to identify the one that is worthwhile and corresponds to personal interests, needs, and opportunities. The current business plan aims at disclosing a new business idea that helps to make use of old things and attract the attention of many people of different age and with different educational backgrounds. It is not a secret that people like buying new things, follow the current technological progress, and use the opportunities available to them that help to facilitate life.

However, not much attention is paid to the things that are out of fashion or out of use because of being broken and have nothing but being recycled. The idea to repair old things and discover some new idea out of the old material has been born. The business plan helps to understand how to create and promote repairing business and make people believe that old things can be helpful but never forgotten.

Opportunity

People cannot even imagine how many useful things they are ready to throw away. They miss the opportunity to discover something unbelievable in an ordinary thing like an empty bottle, a broken TV-set, or an old radiator. The offered business idea is the possibility to provide people with an opportunity to save money, learn how to create something with their own hands, and use the products that are necessary and convenient. The possibility of the chosen opportunity can be explained due to the evident possibility to get the necessary material within a short period of time and attract a number of people with different skills and traditions.

Idea

It is possible to begin business with one organization open. People are invited to a building with their own old stuff (broken or too old things, appliances, electronic devices, etc.) and take classes on how to repair or find some new idea to use an old subject. The main idea of the offered service is not to recycle or repair things. It is more important to explain to people how they can use different subjects available outside or at home and create new interesting and helpful things. Besides, it is possible to organize a department that focuses on selling the products that are created by people (who are able to get a kind of compensation, several percents from a purchase).

People from different parts of the world may be invited. There are many migrants, who are in need of additional incomes. There are many ethical groups of people, who are ready to share their ideas and traditions with other people. There are many interesting opportunities and skills that can be used to improve the world. That is why the main philosophy of the offered business is to help people discover new aspects and benefits of old things.

Team

In fact, not many people are necessary to make the current idea come true. A founder has to think about several or, at least, one investor, who can provide the required financial support to start up the business.

Four departments should be created: a supply department with two managers, who aim at searching for the material, thinking about the details of repairing process, and teaching people how to repair or create a marketing department with two managers, who are responsible for promoting and selling goods, a HR management department with one manager, who should follow the way of how other workers complete their functions and consider the demands of all workers and potential consumers, and an IT department with one worker, who develops a site and control the technological processes of the business. Finally, one person has to control all four departments and identify benefits and challenges of the work. In general, seven people can start running the business, not including the investors.

Critical Success Factors

Critical success factors are all those activities and issues that help to benefit from the offered business. They have to be clearly identified for the team to focus on their achievement:

  1. Powerful advertisement: people should get to know about the services offered. They should know that now they have not to recycle or destroy the things that are broken or unnecessary. There is an opportunity to create something new on the basis of something old.
  2. Good training skills: a team should understand that it is not only necessary to sell or repair the goods. People need to know how they can repair something by themselves. An educational process is an important factor to be considered.
  3. Analysis of the material available for repairing: it is necessary to understand that not all old things can be repaired or redone. The conditions of some things may be not appropriate, and the managers should be able to sort out the material for work accordingly.

Potential Impact on the Economy

Taking into consideration the essence of the offered business, it is possible to identify one important impact on the economy: people can learn how to save money and improve their lives independently. The level of poverty in the world is impressive indeed. Many people suffer from the inabilities to earn enough, some people cannot allow themselves to buy expensive things, and a number of people want to find practical application for their theoretical knowledge. The offered business is a good opportunity for different people to enjoy the cheapness and accessibility of the goods and the possibility to participate in a creating process.

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