House of Projectors, an Ohio Limited Liability Corporation is a Limited Liability Corporation. This is a start-up business that offers Liquid Crystal Display computer projectors on rent. John Laaklytte is the founder of the company and will manage it. He is a veteran in the computer rental business. HOP has identified three distinct markets that they intend to target. Entrepreneurs make up the first segment. Entrepreneurs often require projectors for presentations to angel or venture capital investors. These days a projector is a standard for professional presentations, generally PowerPoint based presentations. This customer segment is experiencing a 9% increase in sales with 33,243 potential clients. The second group is small-sized companies, which can be defined at companies with less than fifteen employees. These companies are not likely to use a projector often enough for the cost. This group boasts a 7% growth rate and 5,423 customers. The last group consists of medium-sized businesses with 15-50 employees and who have a common interest in renting projectors. This group can rent projectors to 3,433 customers and has a growth rate of 6%.
The $745 Million industry that rents computer-based office furniture is called the computer-based equipment rental industry. Many players in the sector rent a variety of equipment rather than focusing on one particular type. While this may allow them to attract more customers, it limits their ability provide high quality service for every type technology. This is due to the technical nature of each hardware type. House of Projectors is able to compete in their market of projector rentals, as the industry is structured primarily as comprehensive service suppliers. They will be able attain and provide technical service that is impossible or conceivably impossible for comprehensive service providers. This is House of Projectors’′ niche competitive edge and industry-standard customer service. House of Projectors believes this competitive edge can be maintained for two reasons.
- HOP’s focus on projectors allows them to excel in their chosen field.
- There are expectations across the organization that HOP’’s business model for all employees will offer this level of customer service.
John Laaklytte is going to lead House of Projectors in the early stages of market penetration. John received a Bachelor of Science, Business major from Case Western Reserve University. John gained practical experience while in school as an assistance manager at a local CompUSA store. John’s business skills were developed during this time, which will be crucial for the success of his own company. John also worked at the University in the position of computer lab manager. John was also a manager in the computer lab at (name omitted), which is a national rental company. At this corporation, John quickly ascended to the Regional Manager position.
John will draw on his expertise and knowledge to help House of Projectors grow from a startup to a major player in the industry of computer office hardware. John will have exceptional revenues for the second year, with an established business model and a well-constructed business plan. The revenue will continue to grow in the third year. HOP will become profitable in the second year.
- To be the leading source for LCD projector rentals
- To establish a large base of customers who are long-term.
- To be financially self-sufficient by year 2.
1.2 Keys for Success
- Implement strict financial controls. This will be pursued as a means to analyze all aspects of the business.
- Treat each customer like the most important HOP customer.
- Continuously assess the market and customer needs. Never assume that HOP knows everything. To gain insight into the preferences of customers, an interactive feedback mechanism will only be one option.
House of Projectors aims to be the most trusted source of computer projectsors for the Cleveland area business community. House of Projectors will soon be regarded as the best store in its field, thanks to their fair pricing and outstanding service.