Most people don’t have time to shine their shoes in the house; this is due tight schedule of sleeping late waking up earlier, moving up and down. In this regard, they prefer to go for shoe shining services that are near to their place of work. The same people prefer having their breakfast in restaurants that are in petrol stations as they fuel their cars. This is the best time they can have their shoes polished. And that is why I have come with the business plan proposal of establishing a shoe shining business in petrol stations.
My shiners Shoe Shine Experience will be a 100% Youth owned enterprise which will provide shoeshine services to passengers and personnel passing through petrol stations in Chicago and its environs. My Shiners Limited business is to service, the client’s shoes which is completed in a timeframe of five minutes. My shiners Shoe Shine Experience will provide training to produce not only a shoe shiner but a sales person whose core focus is to maintain high sales which will directly affect clients and customers service. The training will focus in:
- Cleaning and Polishing
- Buffing and Shining and
- Customer care
- Sale of Accessories (laces and shoe horns)
- Training will be offered by Hoffman Shoe Polish Company and focus on making use of other leather products like belts and bags which are usually outside of the choice.
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Description of the business
My Shiners is a Limited Company that will have more than two directors. The target market will be customers who come to fuel and eat in restaurants found in petrol stations. The company will sign a contract with suppliers to ensure services are rendered in a professional manner.
My shiners Shoeshine Experience cc, will be concluding an agreement with Hoffman Shoe Polish Manufactures to supply all the polish and equipment and train the shoe shine salesperson in technical side of leather and polish. This partnership would extend to clean and polish a wide range of products. My shiners Shoe Shine Experience cc Copyright© My shiners Shoeshine. The Business is broken into 2 other departments that contribute to the bottom Line.
Loyalty Card (Promotions)
My shiners Shoe Shine will launch a Monthly Loyalty Card; this card will give more value to customers as they will receive more for the shoe shine service. My shiners Shoe Shine as a premium product we will add more intrinsic value by offering interactions with different products and services. We intend to interact with services and products relevant to our customers, as we believe that loyalty cards must focus at customer needs.
For a start, we will have to conclude a 2 month pilot agreement with Shell Company to brand the entire business. Part of this deal includes a 1 year Pilot with Shell to start corporate shoe shine at their Offices in Chicago with the view of extending to all their corporate offices including some of their clients
Media placing, is becoming a significant part of the business Companies requiring advertising in the Airport and Corporate environment which has high traffic and high end LSM’s. Brand the stand and uniforms of the Shoe Shiners.
The Media marketed and managed by noble business solutions
The initial market for many of the clients can be found at the petrol station (Shell) filling stations. Our clients’ age groups will be 25-65 years. We will not though require much marketing. We will do much of branding which is a strategy that could safe us the time finance.
We will be running a number of Pilot projects with several major companies as we intent to expand to major markets outside Nairobi.
My Shiners will partner with Shell Company to provide the services. Shell will be a good a partner because we will be operating the business in their premises. It will be a good partnership in the sense that both of us will be complimenting each other. The advantages of partnering with Shell Company are:
- My Shiners will be operating in their premises- This will be easier to share ideas because they will be monitoring the progress of the business without even being inform.
- Shell will be easier to convince for partnership because, we will working in their premise.
- Shell will increase sales because many customers will come with the mind that they will fuel at the same time polish their shoe at the same place. It saves time for clients.
- My Shiners will increase sales because shell clients will becoming with the mind that, they will polish their shoes as they wait for their cars to be fueled.
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Steps needed to be followed to successfully and legally start the business
According to Mashable business journal (2012), the following are the steps that can be followed to start a business.
Register a Fictitious Business Name/DBA
Ever see those interminable invented name declarations in the classifieds of your neighborhood paper? You may require one, as well. A DBA (Doing Business As) must be recorded at whatever point your organization works together under an alternate name. In the event that you’ve got a sole proprietorship or general organization, a DBA is required if your organization name is not quite the same as your own particular name.
Fuse Your Business or Form a LLC
Framing a LLC or organization is a vital stride to ensure your own benefits, (for example, your own property or your youngster’s school reserve) from any liabilities of the organization. Every business structure has its own particular points of interest and hindrances, contingent upon your particular circumstances. Three prevalent alternatives are: the LLC (awesome for little organizations that need lawful insurance, yet insignificant convention), S Corporation (extraordinary for little organizations that can qualify), or C Corporation (for organizations who plan to look for financing from a VC or open up to the world).
3. Look for Federal Tax ID Number
To recognize your business as a different lawful substance, you’ll have to acquire a Federal Tax Identification Number, likewise alluded to as an Employer Identification Number (EIN). Issued by the IRS, the duty ID number is like your own government managed savings number and permits the IRS to track your organization’s exchanges. In case you’re a sole proprietor, you’re not committed to get a Tax ID number, but rather it’s still great practice as you won’t need to give your own government managed savings number for business matters (Akalp, 2012).
Find out About Employee Laws
Your legitimate commitments as a business start when you enlist you’re first worker. You ought to invest energy with a livelihood law expert to completely comprehend your commitments for these (and other) techniques: government and state finance and withholding charges, independent work charges, hostile to separation laws, OSHA regulations, unemployment protection, specialists’ remuneration standards, and compensation and hour prerequisites.
Get the Necessary Business Permits and Licenses
Contingent upon your business sort and physical area, you may be obliged to have one or more business licenses or grants from the state, nearby or even government level. Such licenses include: a general business operation permit, zoning and area utilization grants, deals duty permit, wellbeing office licenses, and word related or expert licenses.
Document for Trademark Protection
You’re not really needed by law to enlist a trademark. Utilizing a name immediately gives you regular law rights as a proprietor, even without formal enrollment. Then again, not surprisingly, trademark law is mind boggling and just enlisting a DBA in your state doesn’t naturally give you normal law rights. Keeping in mind the end goal to claim first utilize, the name must be “trademarkable” and being used in business.
Open a Bank Account to Start Building Business Credit
When you depend on your own credit to subsidize your business, your own home loan, automobile advance and individual charge cards all influence your capacity to meet all requirements for a business advance (and for how much). Utilizing business credit isolates your own exercises from that of the business. To start constructing your business credit, you ought to open a financial balance for the sake of your organization, and the record ought to demonstrate an income fit for tackling a business advance.
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