Business description (Essay Sample)

ReFix-It Phone Repair Company Student’s Name Institution ReFix-It Phone Repair Company ReFix-It is a new company that provides mobile phone repair services to its customers in the comfort of their homes. This company was established in 2018 and has its headquarters located at ( ). It is a sole proprietorship company that is equipped with a well-trained team of technicians to provide its customers with exemplary services. ReFix-It has a strong customer-related approach and conformance to service provision standards in the field of electronics, and mobile phones in particular. Additionally, the company is in a constant quest for quality mobile repair services with a clear mission to serve its customers with the utmost professionalism while satisfying customer needs and preferences. The vision of the company is to establish a successful on-the-go mobile repair service and to maintain constant contact with customers for feedback. The management team of the company is determined to build a good reputation in the market to expand the market boundaries to attract more customers. Certainly, the tremendous increase in the global use of mobile phones within the last 10 years has led to the emergence of the mobile phone repair service industry. Most businesses in this sector provide their services at confined locations. It is the customers’ responsibility to present their phones for repair at these business locations. Conversely, ReFix-It presents a more creative way to provide this service with the aim of reaching more customers. The company has a team of phone repair experts that visits customers in the comfort of their homes. Mobile phones per household are repaired on the spot, within a duration of fewer than 30 minutes. This team is ever equipped with all the essential equipment necessary for providing phone repair services. The effectiveness of this process, less time consumption, and the security customers have of enjoying the services of the company at their homes establishes their confidence and trust in the company. Furthermore, ReFix-It has satisfied all the legal business requirements. Therefore, all our operations and services are recognized and customers feel secure welcoming our team into their homes due to the legitimacy of the company. What inspired the business Markedly, the Refix-It phone repair company was inspired by the need to offer services to customers at their homes. Conventionally, customers have been charged with the duty to present their mobile phones for repair to the initially existing fixed business locations. This is a process that resulted in long queues at these business centers, poor service provisions due to pressure on technicians, and time consumption. The average phone repair time for such business setups per customer ranges from 3hrs to 4 days. Additionally, customers feel insecure when their phones are under the care of technicians at these phone repair centers. ReFix-It was, therefore, founded on the basis of customer comfort and security. The sole purpose of serving customers at their homes, where they trust the security of their property and have the ability to supervise the work done by technicians, inspired the establishment of this company. To establish the company and sustain its success in the phone repair market, constant reach to customers is necessary. Following the numerous business setups currently in operation, using the same strategy would have placed the new business under pressure and possibly lead to the collapse of the company. Therefore, the need to reach more customers inspired the development of this business idea. Visiting customers at their homes builds their trust and confidence in the company which is a crucial marketing strategy for the company. Additionally, the comfort of customers and professional service provision being the main objective of the business, inspired the implementation of this business idea. Indeed, the idea has shown bits of success since the company was founded. From customer feedback, the service provided by the ReFix-It company has proven to satisfy customers. Benefits of the business to the community Notably, this company provides technical services to customers. The expertise required for this kind of job can be gained by any individual undergoing training in the relevant field. The establishment of the ReFix-It company has created employment opportunities for several members of the community. The company has employed individuals from the community who are well-trained in electronics engineering and have a good experience in mobile phone repairs. Besides, the management team of the company comprises members of the community. The trend of the company indicates an imminent growth and expansion of the company’s market boundaries. Therefore, the company’s growth has a corresponding positive influence on the job creation process in the community. Expansion of the company will further increase the absorption of members of the community, with relevant skills, into the business. Evidently, the typical benefit of any business to a community is the provision of goods and services as well as ensuring the proximity of these services to customers. As a result of the rising use of mobile phones both locally and globally, the community has adopted this trend. Thus, approximately every household owns two or more mobile phones. Mobile phones, particularly smartphones, are fragile and prone to breakdowns. ReFix-It company uses this chance to take the service of repairing phones as close to the community as possible by visiting customers at their homes. The company has saved the community the burden of visiting phone repair shops that are a distance away from their homes. Furthermore, the swift service offered by the company’s team of technicians saves the community the time consumed in queuing at phone repair centers. The security of these electronics has also been guaranteed because the repair is done on the spot, within a very short period, and in the sight of the customer. Benefits of the grant to the company Ideally, the success of all new and existing businesses relies on their popularity in the market. This is only achieved through marketing and advertisements (Turner & Endres, 2017). ReFix-It is a growing company that urgently requires popularity for it to survive in the market. Thus, the grant will highly benefit the company in funding marketing and advertisement activities for the company’s products and services. The company will acquire the potential to market its services through websites, social media platforms, and posters. Besides, a marketing team comprising marketing and advertisement experts will be hired to enhance this process with the ultimate goal of publicizing the company’s services. Following the reception of this grant, the ReFix-It management team will have an easier task catering to the expenses of the company. The business currently has expenses such as wages for the employees, license fees, equipment acquisition, and servicing, transport expenses, and business insurance. These expenses have a large influence on the net income of the company at its beginner levels (Hossain & Islam, 2019). Mobile repair technicians on ReFix-It are on the move on a daily basis, visiting every single customer’s home. Thus, transport expenses...