Task:The objective of this individual( assessment submission is to learn how to develops business ides, complemented by brainstorming and leveraging the insights and skill-sets of others. Assessment comprises two parts: Please submit a 5 page briefing paper of your business idea, its essential business model components, and aspects that will influence its success. A business model canvass can he included as an appendix.
Introduction : This Business Idea Assignment outlines importance of idea generation towards business development. The mesmerizing presence of a dog in a human being’s life plays a major role in their motivational aspects of life. This Business Idea Assignment has been prepared by highly qualified business ideas experts from top universities ensuring we provide your with the best business assignment help service. Over the years, the pet care industry has managed to generate several innovative principles, which has helped several people across the globe. When it comes to Australia, pets have been traditionally considered as an integral part among Australian families. This assignment interlinked how discretionary income rate and increase in the number of per lovers which in turn can revolve to become a lucrative business idea. Therefore, the study aims at the identification of necessary elements that are required for implementing an interactive dog care facility in Australia for people who are unable to take care of their pets effectively. The study will further help in the identification of the benefits and the extent to which the supposed business intervention will be feasible in the near future.
Identification of problem: Over the years, it has been found that, Australia has managed to create vast instances of business opportunities effectively. It implies the fact that, most of the citizens are extremely inclined towards work pressure and intricate workplace activities. Therefore, as a result, it so happens that, the working people with pets often fail to provide the extensive care and affection that they deserve and require. It eventually imposes a negative implication of the minds of the pets as they are forced to be in a confined space and are not allowed to roam free. It creates huge problem to the working individuals, as their pets create chaos and nuisance throughout the house. This Business Idea Assignment explores how the incidence of employment opportunities has increased massively in Australia over the years and their direct impact on pets ownership and welfare aswell (Teng et al. 2016).
Fig: sales overview and prediction of pet foods in Australia
(Source: Humby & Barclay, 2018)
In addition to this, it has been evident that, the incidence of adopting pets among Australian families has become of the dire necessities among the citizens. However, over the past few years, the pet care companies, that has been setup did not however manage to meet up with the necessary needs and requirements of their valuable customers. Therefore, it eventually resulted in declining market state. Henceforth, most of the entrepreneurs in Australia are intending to set up a proper pet care facility in Australia, which will help these helpless individuals into the provision of extensive services and products that their pets require (Zourkas, Ward & Kelman, 2015).
Fig: Overview of pet ownership in Australia
(Source: Humby & Barclay, 2018 )
Another major problem that is being faced by the working people with pets is that, they fail to take them out for a walk. Eventually, the pet owners fail to properly provide effective grooming, boarding and vet visits. As a result, it so happens that, it becomes difficult for the people visit to a doctor, which results in ill health of the animals (White, 2016).
Benefits generated: The pet care company, with their significant business process will help in carrying out the proper market methods. With the use of innovative business products and services, the company’s beneficial perspectives and prospects that needs to be taken into account (Holloway, 2017). This Business Idea Assignment will also explore business activities that needs to be assessed in order to provide extensive business services of the company to their clients:
Proposed business model: Creation of a proper business model in order to effectively carry out the significant tenets of the pet care business process is one of the complex methods. It is not just about mapping and determining the ongoing value that is to be provided to the clients, but the ways with the help of which they can effectively enhance the tenets of their business processes (Mikhalkina & Cabantous, 2015). There are certain steps, which needs to be identified in order to propose the business model for the pet care innovative initiation. They are as follows:
Customer segmentation: Before proceeding with the essential elements of business, it is important for the pet care company to attempt to effective levels of customer segmentation. The primary areas on this Business Idea Assignment are customer segmentation in this prospect are the working people of Australia, who are unable to look after their pets and intends to attain extensive pet care services.
Value propositions: if any customer faces any inconvenience regarding the products and services that are being provided by them, it is likely to happen that, the company needs to abide by their requirements. In order to attain effective levels of value proposition, it is important to satisfy the needs of the customers with the help of effective services and product convenience.
Channels: The value propositions, which are perceived by the petcare company, will later be delivered to their valuable customers with the help of significant distribution channels. While communicating with their clients, the company will be able to understand the problems that they face and will be able to modify their business provisions accordingly (Gobble, 2014).
Customer relationships: Maintaining healthy relationship with their clients is one of the key requirements of new companies. For a pet care company like this, they need to maintain a proper relationship with their clients. It will help them to understand the necessary evaluations and changes that are required in their supposed business processes.
Revenue streams: The provision of revenue streams often tends to result in successful offering of value proposition to their clients.
Key resources: The key resources refer to the assets and elements, which are required to effectively offer the delivering of previous elements that are mentioned above.
Key activities: In accordance with the business activities that has been chosen by them to conduct their market strategy, will essentially depend on the interactive services that are being provided by them.
Key partnerships: in accordance with the business methods and processes that are to be adopted by the pet care company, it is important for them to effectively outsource some of the activities. It is also important to outsource some of the resources, which are acquired outside the enterprise.
Cost structure: Costing along with the understanding of significant budgetary allowances manage to play an important role in carrying out significant business.
Feasibility evaluation: After the attainment of an extensive assessment regarding the interactive services that are to be provided by pet care company, it is important to understand the proper aspect associated with feasibility of the business process. The evaluation of feasibility tends to play an important role in carrying out the identification of necessary business process. Since half of the population of Australia have pets in their household, hence, the initiation of a pet care company within their residential premises will prove to be a profitable aspect. Furthermore, with the increase in the levels of employment in the country, the pet owners are often unable to provide every possible requirements to their pets. Therefore this Business Idea Assignment outlines pet care companies effectively provide all the necessary interventions that are required for significantly carrying out the tenets of the business processes. In addition to this, with the services and products that are to be provided to the clients will also help in improving their business shares, as the innovative ideas that has been initiated by them will definitely prove to be feasible towards their approach. Therefore, from this definite point of view, it can be said that, the use of the interactive business processes and procedures will facilitate the necessary associated of the pet care facilities (Donkers et al. 2017).
Critical success factors: In accordance with the tenets of the facilities that are being provided by the petcare company, there are certain definite critical success factors. These factors will help in understanding the levels of success that might be derived out of the initiation of this definite business initiative. In addition to this, the attainment of definite critical success factors will help in identifying the potential business growth that is taking place due to the implementation of innovative aspects in this petcare initiative (Tarhini, Ammar & Tarhini, 2015).
The initial location of the petcare company will be in such an area, that most of the people get an easy access to the outlet. The primary preference will be essentially provided to the outskirts of the metropolitan area, where the incidence of working people is the most. Furthermore, initiating an outlet in the upscale community will also bring more clients. The company will try their every possible effort to cater to the essential needs and requirements of the clients in every possible manner. Emphasizing on the views and opinions of the clients and implementing them to improve the supposed business services is another major critical success factor that will prove to be successful. As the initial location of the outlet has been set in populated areas, hence the financial growth is substantially expected to increase equally. Furthermore, as the company will also provide doctor facilities and medical advices for their pets, hence it is important for the company to collaborate with some of the vets in Australia, which will also manage to enhance their business and financial growth (Behari et al. 2016).
In the light of the above analytical factors and tenets, there are certain conclusive parameters, which needs to be undertaken and understood. The initiation of a proper pet care facility in Australia will help the people to be more attentive towards their pets and will be able to carry out significant remedial measures that they require. Furthermore, this Business Idea Assignment has helped understanding the extent to which the initiation of this pet care facility has managed to significantly incur lump sum amount of profit that has been generated.
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