This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.
A business becomes successful when it is taken into the next step. Leehan pvt Ltd is a well established business that is growing and seeking expansion. This is a rare business opportunity that many have grown to pay much attention to. Leehan pvt Ltd team is doing its best to push some of its goals into a reality and among its efforts included doing a market research and analysis to expand the business. Leehan pvt Ltd did a market research among them, financial analysis to see its returns. The report indicated that its profit margin is something to go by. According to the marketing research the Leehan pvt Ltd realized that, this is a good market niche to start the business of scooters, electronics and furniture to sell them to customers and having researched and got the attention of a local financing company, Maldives Finance and Leasing Company, which provided to liaise and work with us by providing the customers of Leehan ptv Ltd with finance if they buy goods from Leehan ptv Ltd. The strategy is well planned and when we are getting profits from this business the financal company will also get its share, hence it will be two way and both companies will be gaining from this business deal. There is a good market even though there is a little competition. Basing on the results of the research, the Leehan pvt Ltd is prepared to come up with an effective marketing strategy to push the business beyond that of competitors.
Leehan pvt Ltd will be based in the South Province where it is already well known. According to Leehan pvt Ltd extensive research, it realized this place has the best market potential for the business. The total population of the province is a total of 25,495 male and 13,685 female. This amounts to a total ratio of 86. The research also gave an indication that, the total labor force accounts to about 9734 with a participation of 59.8. There is also unemployment rate of 28.6%. The Leehan pvt Ltd also embarked on a survey on the market needs of the residents of this province. The results indicated that, most people in the region are used to driving scooters since, the driving area is relatively small.
As Leehan pvt Ltd seeks to expand, it has come up with a new approach where we want to involve a second party. Leehan pvt Ltd has the ability to invest, but seeking the assistance of a reputable financial company, will put the company, Leehan pvt Ltd, in a better position. This is based on the goals Leehan pvt Ltd has already set as a company and it hopes to accomplish soon. By involving a financial company, Leehan pvt Ltd is certain that, it is not the only one who will be benefiting in this whole thing. Leehan pvt Ltd has done research, and basing on the research it also found out that, the financial company will also have a bigger share of it. Leehan pvt Ltd is assuring the finance company that this is a well thought out plan solemnly meant to achieve a benefit that is mutual.
Leehan pvt Ltd has identified Maldives Finance and Leasing Company as a suitable company to partner with. Due to the fact that, most people prefer easy payment purchasing. Leehan pvt Ltd prefers to seek financial assistance from Maldives Financial and Leasing Company to assists their clients make their purchasing easy. The income for the Leehan pvt Ltd stands at about MRF 10000/-. The role of the Leehan pvt Ltd will be to stock the goods then, when customers come, it will ensure that all documents are put into details. These are the details that Leehan pvt Ltd will avail to the Maldives Finance and Leasing Company for the sake of finances. This is a very effective plan and Leehan pvt Ltd does not only hope but believe that it will be a successful plan, thus Leehan pvt Ltd will get the payment almost immediately from the Maldives Finance and Leasing Company. In this case the customers will sign a contract with Maldives Finance and Leasing Company to clear their payment within an agreed period of time which will be between two to three years.
After recording all the information and details that are provided by the customer, Leehan pvt Ltd will send the documents to MFLC for evaluation. After approval by MFLC, they will draft an agreement with which Leehan pvt Ltd will sign it and send it back to MFLC, after which MFLC will send Leehan pvt Ltd a document of request to release items as ordered by the customer. Once the items are released, MFLC will send the money in cheque to Leehan pvt Ltd upfront. According to this payment approach, payment to MFLC will be on a monthly basis via a bank cheque which will be collected from the leaser until the end of the contract. In some instances, the cheque may be returned in instances where one of the customers have not been making the payments as required or not at all, in this situation Leehan pvt Ltd has an alternative action, it will have to assist them to get their payment back to MFLC this is because they will not be personally presenting in this region which is the southern province.it will make sure that it assists the customers to pay. Maldives Finance and Leasing Company will probably wonder how this will be possible. Since they will not be personally presenting in the South province, Leehan pvt Ltd has proper ways in place to get the money. This should not be a point of worry to the Maldives Finance and Leasing Company at all; this is because before the customer will sign a contract, there are some implications they have to agree with concerning payments. For instance, besides them paying for the goods they also have to provide the details of people who will be held accountable for payment on their behalf including indicating some of their assets that will be subject to payment.
This business partnership is expected to flourish within two years, since the business strategy involved has never been tried before. There is a well designed operation plan that runs throughout the whole year. According to the Leehan pvt Ltd research, it has weighed the possibilities of this happening and the results indicated that the probability is 80%. The 20% involves risks and an uncertainty which is believed to be normal in any kind of business association. The Leehan pvt Ltd goal is to become the only company which can provide financial support on behalf of the Maldives Finance and Leasing Company in the South province.
The business will strive to capture a bigger market share through marketing campaigns which the business is anticipating to begin immediately; this is in a bid to create awareness of the payment alternatives. Leehan pvt Ltd will also come up with a set of marketing mixed variables, tailor-made to capture an anticipated market segment. Leehan pvt Ltd business will be established near estates, offices and residential places where customers can easily gain easy access to it. This is where the business marketing team will position the company, Leehan pvt Ltd, strategically. Motorcycle, furniture and electrons are mainly household and office materials that, most people cannot do without, these are daily necessities that people need. A good indicator that makes Leehan pvt Ltd goods different from the competitorâ€™s lies in the quality and efficiency of delivery to its customers.
Since the Maldives Finance and Leasing Company is willing to give 10000-50000 price range. It means that our main focus will be the other companyâ€™s staff and civil servants. These are people we anticipate will sign contracts with their employers. We also expect that, they are able to arrange for us to deduct the amounts payable to the Maldives Finance and Leasing Company. The business hopes to capture a good number of such companies in the region.
Leehan pvt Ltd will select a team of marketers, financial managers and auditors, since this business is look forward to grow the management team will also continue to grow with time. The business will come up with guiding principles that will guide the management team towards achievement of goals. The team will also have a set of rules and regulations that governs the company. This is a way of creating distinctiveness of Leehan pvt Ltd business from that of competitors. This is fully the responsibility of the marketing team which the business fully trusts to make a good decision.
The first year of the business will be effectively planned for, Leehan pvt Ltd is aware that the initial stages in this approach will be challenging. To solve this problem, proper financial planning and operational planning will set the business on the right footage, it all boils down to how much effort is dedicated the Leehan pvt Ltd is willing to spend. On our side, we have made all the necessary preparation through a team of qualified personnel. The effectiveness of the preparation forms a strong background development for a fruitful association with the Maldives Finance and Leasing Company.
Despite some of the success factors that, both Leehan pvt Ltd and Maldives Finance and Leasing Company hope to have, we believe that challenges are there. The main challenge include; competition, inadequate customer loyalties, financial crises and inadequate publicity. Challenges in a business are a basis for gaining strength and determination, with good planning, good strategies and a reliable human resource management; we believe that, both the financial company and Leehan pvt Ltd will achieve their goals and we as a company are ready to face and deal with any of these challenges.
Leehan pvt Ltd will also develop a good relationship with its customers. This will be made possible through a good customer care department in place to oversee all customers problems and finding ways of solving them in a fair and just manner. Leehan pvt Ltd will also practice good promotional activities and functions such as after sales services and offering reasonable discount. Leehan pvt Ltd is optimistic that this new approach will go according to plan. I believe through the Leehan pvt Ltd background research on all the possibilities, the business will yield fruit. The strategies that the business anticipates putting in place are unique from that of competitors. The market niche is bigger as apparent in market research and calculation of profit margin. Although there are many risks involved in such an approach, the risks are moderate hence, manageable. There are a lot of measures that Leehan pvt Ltd has considered among them establishments of rules, guidelines and policies that Leehan pvt Ltd customers will be briefed on. This is in a bid to ensure that the whole process is made formal. These will form a basis for the customers and the Maldives Finance and Leasing Company to be in agreement.
The question that, Maldives Finance and Leasing Company would probably asked itself, is why our company? Just to shade light on this important question is that, the Leehan pvt Ltd has been in operation for quite sometime. This being the case, it has had its fare share of experiences that we deem a strong point. Leehan pvt Ltd business is well known in the South region, it has a good number of customers both actual and potential. Leehan pvt Ltd is financially stable and seeking to stretch its wings to greater heights. It is made up of a good team of employees with relevant competencies.