Essay, Pages 8 (1974 words)
Is a gaming place where all people who is into games and PC’s are gathering to play and enjoy or even share their skills to other people.
· Proponent: The idea of Hussain, Duaa and Safa
· Location: This place should be located in area which can be reachable for most of people and suit, so we followed a Geographic market segment .The location will be in (MANAMA).
· Capital: On the other hand, which is the most important thing is our starting capital which is will be estimated amount of 20,000 BHD and this consider as a good amount to start with a small gaming center specially with a partner.
· Nature of Business Activity
First of all our business nature is to provide video games to the customer around the country and in order to achieve this we have set our objectives and plans.
· Business Objectives
This business objective has a financial objectives and non- financial objectives.
Those objectives were set to meet our expectations and customer satisfaction over all.
As for a financial objectives every company have to:
– gain profit, so that the reason of starting a business as entrepreneur
– Our expenses should be less than our profits. In order to get this we have to take risk and work hard to reach our goals.
– Be the leader and pioneer of game playing facility in Bahrain.
On the other hand business is not always about financial objectives .In non- financial objectives:
-We need to be more flexible in work and gain as much as possible of skills witch can be very important to our growth in the future.
Form of Business Organization
We can consider this business as a partnership business which is define as a group of two or more people which are agreed to run and operates the business together, because in this business we decided to get benefit of this type, so that we can share our money, profit, skills and information’s to run the business and grow bigger in the market. For example: share our technology knowledge and experience to provide a better service and product which can be loved by our customers or attracted to people eyes.
For every business or entrepreneur who decides to start a business he should think of putting a business plan first before anything else. Therefore this is what we did. We started to make a business plan for us and we followed the steps of business plan which are:
We must define the objectives and our objectives must be S M A R T
· Specific: in our case we want to increase our skills and experience so we can build a strong business and this business should have a good location which it’s in MANAMA city, plus the resources that will be involved are computers and electronic devices which will use to help us in this business.
· Measurable: we have to get measurable goals, so that we can track our progress and stay motivated. For us we have to meet the expectations and become best gaming center in Kingdom Of Bahrain through providing high performance PCs and eyes friendly monitors, with comfortable seats. On top of that we set advanced computer training and to gain all the required experience and information with 2 years’ time.
· Achievable/Attainable: our goals must be something that we can achieve and it’s possible to reach through increase our PCs and electronic devices numbers to 22 PCs, monitors and comfortable chairs. Also open for extra hours so we can receive more number of customers.
· Realistic/Relevant: in this our goal is to be always up to date with all types of games and technology which are presented in the market and know how to use them. This also the right era or generation which can we apply our efforts and services.
· Time Bounded: we set a target date for everything start from small devices until staff. For Example: a period of 6 months from now to get the basic and some advance knowledge of gaming computers and games. A period 2 years of increasing our computers and monitors numbers.
Determine the business:
- Identify a name: we set a name which is ‘ Portal Gaming Center’.
- Identify a location: MANAMA city.
- Form of ownership: in our case ‘Partnership ‘.
Determine the product and services: provide gaming computers, monitors and comfortable chairs which can be used or played on hour’s basis.
Identifying the potential market: our market target is based on Geographic location, age and gender. Which in our business are customers from 12 years and above.
Identifying competitors: our competitors will be other gaming centers in Bahrain which they are 5 computer gaming centers and they have all most the same pricing which we can compete with (low the profit to get more customers).
Determine marketing method: our marketing method will be in many different ways in multimedia for example: Instagram, Facebook and online sites, also we will have some hours bundle offers to be present to our customers for example :1 hour for 1.5 BD- 3 hours for 3 BD – 5 hours for 7BD and so on .
Identifying the material requirements or equipment and supply: for our business getting the computers are easier and cheaper if we order it from online sites and build it here in Bahrain. On the other side the requirements we need are :
- – PCs.
- – Monitors.
- – Comfortable gaming chairs.
- – Fast internet connection.
- – Standard table’s height.
Prepare sales forecast: we can have an estimated profit volume analysis. If each hour is counted as 1.5 BD for 10 PC’s and we are operates for 8 hours daily, so our monthly profit around 3600BD.
Prepare budget plan: as this business is partnership and our budget should be around 20,000BD it will be easier to get that amount either from a bank loan or family help.
Set plan to work: we will start our business from 4 PM until 12PM and its 7 days a week.
We should have a good marketing strategy to have more players, and these will be our marketing strategies to start our business:
Building relationship with customers
Through friendly and courteous service, we will build relationships with our regular customers to ensure that when competition does arrive, our regulars will be reluctant to go to them due to their personal ties with us.
We will depend on social media advertising as well as leaflet distribution at places of gathering of our customer base to promote our establishment. Our strategies and practices will remain constant, as will the way we promote ourselves:
- – Advertising we will be developing a core-positioning message.
- – Grand Opening we will concentrate a substantial portion of our early advertising budget towards the “Grand Opening Event.”
- – Direct Marketing we will directly market in areas of high traffic for our main market segment such as cinemas and restaurants.
We will advertise directly to our regular customers through e-mail and our social media accounts as well as in areas where our customers regularly gather, such as the cinema through the use of fliers and leaflets. Promos such as “introduce a new customer and get an hour free” would be relatively inexpensive from an advertising standpoint and require limited ongoing maintenance and expense.
Give gifts to customers in order to further spread brand awareness.
Shirts, baseball caps, and bumper stickers bearing the “Portal Gaming Center” logo also will be eventually marketed, as well as given away as prizes.
Managing the financial resources of the business, monitoring performance and preparing accounts
We will have a cheerful work force to treat customers like “kings”. The financials offer a realistic view of Portal gaming center.
- – We assume a healthy economic situation in the market for the gaming industry in the next couple of years.
- – The customer plays for an average of two hours once he enters into the premises.
- – The financial development is based on practical to minimum sales against higher
Break – Even:
The graph below on the income and expenditure curve of Portal gaming center shows that the business will sustain right from April month of the first year 2020.
- Just in case if our business needs money we have another plans to get financial support like:
- · saving money for the future cases.
- · shareholder so we can invite more owners.
- · Financial loans ( getting loan from financial resources “Bank”)
- · Selling old assets.
- · Rent part of the property.
The actual process of producing service.
As what we have mentioned in the business plan that we will provide gaming computers, monitors and comfortable chairs which can be used or played on hours basis. Also we will be aware of new updates of the video games and able to make whatever internal changes are necessary to respond effectively to the changing outward environment, as quickly as possible.
Is the process of hiring, positioning and overseeing employees in an organization.
The most important things that our employees should have it is:
- – Passion for video games – There’s a plethora of evidence everywhere stating people’s productivity and quality of work increases when they truly enjoy what they are doing. For any industry out there, hiring managers are looking for people who are truly passionate about the market and industry.
- – Excellent customer service- Customer service teams, especially in the gaming center can make or break a business. If your gaming customer service is awesome you will have happy customers.
67% of customers reported the reason for leaving a brand for a competitor, was bad customer service. Focus on investing in a customer service team that is; friendly, reliable, quick and happy to help at any time.
Experience -Basic knowledge in IT and how to turn on and off PC’s and they need to know how to use them and able to fix any problems that happen to the machines.
The reasons that would make our business fail:
Any business in the market whatever new or old it could fail or continues its success.
There are many reasons that cause or would make our business fail if we did not take them to consideration and act on them:
Reason #1: Not Investigating the Market enough:
We have to find an underserviced or unmet need within a market and then fill it, rather than break into the familiar field. It’s a lot easier to create, and then satisfy, a new demand crowded pack.
Reason #2: Lack of profit:
As an entrepreneur, we must keep our eyes on profitability at all times. Profit allows for growth.
Reason #3: Personal use of business funds:
We should not consider our business as our personal bank account or could fall in big financial problems.
Reason #4: Poor financial management:
Keeping records of all financial records and always make decisions based on the information we get from data.
Reason #5: Product development:
Developing business product may lead the business to growth. We will not be able to develop our gaming computer every time because gaming computer has a max limit of performance.
Reason #6: Lacking Uniqueness and Value:
The products should be unique and special from others so you can compete with others.
On the other hand we have some reasons that make our business success:
Reason #1: small number of competitors:
Small number of competitor in the market can help to maintain our profit growth.
Reason #2: well-connected and Dedication:
We are connected to our customers through social media and have great dedication to our business to make it growth.
Reason #3: Quick response to market needs:
We can be adaptive to the market needs by providing them the service they need.
Cite this essay
PORTAL Gaming Center. (2019, Dec 12). Retrieved from https://studymoose.com/portal-gaming-center-essay