Description PLEASE NO AI Please note an important addition to this post, which appeared last week. ...
Description PLEASE NO AI Please note an important addition to this post, which appeared last week. There are three mandatory sources you will be required to research for both your source memorandum assignment and the business plan project as well. The sources are provided in a study guide the Lehman College Library has prepared for the project at this LINK. Think of it this way: The required sources will make your job of gathering factual content for your project a little bit easier. The three required sources are: The United States Census. The Census is a great primary source that can shed light on your customer base and the neighborhood where you'd open your small business. You can learn more about what exactly it is by reading this guide posted by the U.S. government (LINK). Before you research the Census site, be sure to choose a neighborhood or location for your business in the New York metropolitan area. It can be your home zip code or another location. The library study guide provides a link for 10468 (the zip code for Lehman College) as a sample. The Department of Labor's Bureau of Labor Statistics (BLS). The Department of Labor is another highly-respected primary source that tracks the U.S. economy closely to measure employment and to see closely how businesses are doing. The BLS site is a goldmine for your project. It provides a wealth of numbers, statistics, information on trends, and other important facts you should research for your business plan. The library guide links to the BLS's Occupational Outlook Handbook, where you can click to find a specific set of pages that cover the type of small business you are researching for your project. National/State Industry Organizations. Groups of small businesses often support organizations that gather up information about the industries or economic sectors. The work supports small business owners and entrepreneurs by publicizing what they experience, what they need, what trends they encounter, and what they seek to improve their livelihoods. While the Lehman Library guide does not have a direct link to industry organizations or a central website, you can find one for your small business idea through a Google search. Additionally, there is a link to Hoover's database which collects a number of sources you can use for your project. Finally, the library guide has contact information for Lehman's business librarian Ms. Martha Lerski. You'll see that the readings for the project strongly recommend that you contact the library for help in researching your project topic. Remember the three sources listed here are mandatory and will help you succeed on this project. Make it a point to consult them as soon as possible. Once more, here is the library guide link. REPOST: Overview Reading for the Business Plan Project and the Source Memorandum It's time to focus more attention on your term paper for ENW 300, the big business plan project. A few introductory readings appear in this week's folder. Next, go through three important readings linked to this post. There will be many more readings on all of the assignments that will make up your business plan project in the weeks ahead. An overview of what’s ahead including the steps you'll take to complete the project in stages can be found HERE. Be sure to read details on the first business plan research project, a source memorandum, which can be found at the link HERE. An official assignment post that you can use to send in the memorandum will appear in the Submissions folder later this week. There will be very important readings on this and other business plan assignments that appear in the weeks ahead as well. There's more on how to research and format the source memorandum HERE. Finally, one last reading from The Writer's FAQ's goes through steps you should take to dig up and evaluate print and Internet sources. The PDF for the reading can be accessed by clicking on the link at the top of this post. Below, you’ll find a sample to help guide your research and writing work for the next assignment, the business plan sources memorandum. Please note: While the names and organizations that appear here have been changed, you are expected to hand in a researched, accurate document. Note, too, that the sample below includes only eight sources, while you are required to include a minimum of 10 sources in your memorandum. Additionally, you’ll find my notes to help explain the importance of key elements and features in the text below. TO: ENW 300 FROM: Earlette Williams DATE: March 18, 2018 SUBJECT: Opening a rabbit grooming salon near the Crenshaw neighborhood (Professor’s note: Follow the instructions and start your memo with a simple, concise heading.) Based on preliminary research I have done, I think that a grooming shop for rabbits and other rodents could be a successful business idea in the Crenshaw neighborhood of Memphis, Tennessee. A groomer stands to benefit from several key trends. First, there is an ongoing boom in pet ownership. The U.S. Pet Owners’ Association (USPOA) an organization that tracks companies, product and services trends in the pet care industry, predicts that U.S. consumers will spend $620 million on their dogs, cats and other pets in 2016, up 20% from the year before. The same group estimates that rabbits in particular are becoming quite nationwide with 10 million kept domestically as pets as of 2018, up from 5 million in 2010. (Professor’s note: It’s always very important to start business documents off well - first impressions are lasting ones, after all. Here, the memo begins with a strong thesis paragraph that explains two main points the author wants to make, (1) that a business idea she has makes sense and (2) she has done some good research to back that up. Please note, the author has followed some very good steps here. She has selected some of her strongest, most impressive facts to include here. She has identified her sources and included numbers and dates, which are key details. Finally, she includes the full name of an organization and spells it out before presenting readers with an abbreviation she plans on using for the rest of the memo.) At the same time, the Crenshaw neighborhood seems like a promising location. The U.S. Census reports that the zip codes of 30619 and 20625 have a sizable population of middle-class families - 1,000 households as of 2017 with a median income of $60,000, compared to a nationwide average of $45,000. My research shows that there are only two pet groomers in the area - Petco and Madame Clippe. Nearby Fair Leaf Park has a special “Rabbit Run” section where owners can take their bunnies for a romp in the fresh air. I have targeted Pine Cone Shopping Mall where I would look for a storefront to house the shop. Pine Cone is anchored by several very large stores including the discount retailer Target, the grocer Kroger and a Home Depot. According to the latest figures published on the mall’s official website, 500,000 shoppers visited Pine Cone last year. (Professor’s note: The previous paragraph starts with a summary topic sentence - always a great idea for business documents. Also, note the use of specifics and details such as numbers and examples.) The Crenshaw neighborhood has other features that will help me to spread the word about my grooming business. For one, there are several parks nearby where people walk their dogs and other pets daily. The amount of foot traffic in the area also gets a boost from the presence of Pine Cone Mall important to the success of the salon. A grooming business can be expanded to include other services in its future such as dog walking or boarding services for households who need a place for their pets to stay while they are out of town. The services available can be expanded to compete with other businesses in the industry and can bring a new wave of clientele for an already established salon. There are several things I will need to research in order to complete a business plan for my grooming business. Research must be done on the industry, costs, consumers and the location in which it will serve and sources such as USPOA as well as competitors such as Petco will help. The business will need licenses and permits from both the city of Memphis and the state of Tennessee, sources which are listed below. I will also have to find the right equipment and supplies for a good price in order to provide the best possible service and make a profit. (Professor’s note: The author here has done a good job of summarizing what is to come. The work will pay off both toward this memo and the work of writing up future business plan installments. In fact, future assignments for this project can draw directly from the text written here - you’ll want to expand upon the information here, of course, and provide more detail according to the directions for upcoming installments.) Sources: The National Affiliated Pet Products Manufacturers (NPPM) (web address: http://national affiliatedpetproducts.org/press_industrytrends.asp ) The National Affiliated Pet Products Manufacturers, or NPPM, an organization of 25 companies that produce pet food, toys, and other items, has estimated that by 2020 Americans will spend up to $96 billion on pet services reports. The NPPM also reports that expenditures are progressively increasing and will likely continue to do so. In fact, the amount Americans spend quadrupled from $17 billion in 1994 to $66.75 billion in 2016. The National Pet Owners Survey by the NPPM shows that the number of pet-owning households has increased from 56% in 1988 to 68% in 2017-2018 which equals 84.6 million pet-owning households, and pet ownership will likely continue to rise. Actual sales in the U.S. market for pet services such as grooming were $5.76 billion in 2016. Americans have become fonder of their pets over the years, and since they are now more widely considered family rather than pets, more money is being spent on their wellbeing and non-vet pet services such as grooming, pet-sitting, and training. The only aspect of the industry which is likely to drop in popularity is live animal purchases as people are choosing to adopt rather than buy from breeders. Partnering or networking with an animal rescue and adoption center has the potential to bring in customers to a newly established pet grooming service. (Professor’s note: The writer has structured the above entry well by considering what readers need to know. That forethought has led her to identify her source while summarizing some of the important information she gathered. She has also used headings here and for later entries, which helps to further organize and clarify her text.) Dallas Daily (web address:http://smallbusiness.dallasdaily.com/build-groomin...) The website Business Chronicle is published by the newspaper, Dallas Daily, and covers small business trends. An article dated July 5, 2018 and written by Candace Weatherstock presents several ways to build a clientele for a new pet grooming salon. According to the source, it is important to connect with the surrounding community by developing ties with small businesses that serve the same clientele such as pet walkers or animal shelters. Pet services businesses can also set up an agreement with the local veterinary clinic to refer customers to each other can help broaden the number of pet owners who are exposed to the services provided by each business. Referrals from current customers will also bring in new customers and it is essential that all customers leave satisfied with the services provided. Presentations in the community can also make local pet owners aware of the services available to them. The New York Times (web address:https://www.nytimes.com/2016/02/08/nyregion/market...-clientele-animal-owners-struggling-with-bills.html ) The source listed here, the New York Times, is a leading newspaper with a circulation of approximately 5,000,000 and published the article written by author Jones Creeley and published on February 8, 2016 that shows how marketing firms around the country are sending free samples of food to owners of dogs, cats, and other pets as a way to influence sales. A pet food pantry in the Bronx gave out more than 2,000 pounds of food to 71 dogs and 50 cats in the community. This food pantry opened by the Animal Care Centers of NYC attracted clients who are now regular visitors and are potential clients for a pet grooming salon. The pantries work with other organizations to decrease the number of animals in shelters. Becoming part of the animal welfare movement and providing pet grooming services at events with similar organizations can make a good impression in the community as many pet lovers attend those events. Buffalo Veterinary Institute (web address: https://www.buffaloveterinarianedu.org/new-york-do...) In New York State, pet grooming salons do not require stylists to have any certification or license to become a pet groomer or to provide services according to the Buffalo Veterinary Institute, a college. The school’s website recommends that stylists take formal classes and apply for state certification, the website recommends, especially for stylists who want to become supervising managers or boutique owners. According to Buffalo Veterinary, customers prefer groomers with formal training and having a certified groomer will increase the possibility of success for a new pet grooming establishment. The National Pet Groomers Association of America (www.natdogpetgroom.org) The National Pet Groomers Association of America is a nationwide organization that provides two different certification exams for groomers, one which identifies a person as a Certified Scissor Bearer and a certificate for Master Groomer Par Excellence for more experienced stylists. Certification exams are offered all year online via a Skype connection. Enrollment is $35 per certification. The City of Memphis (web address: https://www1.memphis.gov/memphisbusiness/description/small-animal-grooming-establishment-permit/about) The city of Memphis regulates dog groomers and a permit from the Memphis Department of Health and Mental Hygiene (MDOHMH), the local agency that tracks health conditions, is required to establish a new pet grooming facility. A facility that provides grooming services to pets can get the permit after providing required documents including (1) proof that the supervising manager has an Animal Care and Handling certificate; (2) proof of a Certificate of Authority to Collect Sales Tax, and (3) proof of Worker’s Compensation and Disability Insurance are necessary for the permit among other documents. The permit costs $50 and is good for three years, according to the MDOHMH website. Pet Depot (web address:https://www.petdepot.com/pet-services/grooming/) Pet Depot is one possible competitor for the pet supplies and services store I have in mind. The company has 1,722 outlets across the country, according to Pet Depot’s website. The same URL provides information on what services should be provided by a grooming salon and the prices for those services which can start at $29 for a basic haircut and bath. Research should also be done on extra services that can be provided as part of a package or as part of a special offer to new clients. International Pet Suppliers’ Coalition ( http://petsnipsnipadvice.com/) The website of the International Pet Suppliers’ Coalition is published by an organization of pet supply companies and includes information on products that groomers use. It suggests that prices for the most important equipment can vary from as low as $50 for a pair of shears to as high as $600 for a modern hydraulic table which will make it easier for the stylist to adjust to the size of different animals.
