Business Plan for an Offshore Engineering Services Coursework

Business Plan for an Offshore Engineering Services - Coursework Example This location inhabits companies offering identical and similar services and a couple of technical universities from where the personnel intake is relatively easy. Huge investment is warranted in machines, equipments and human resources. However, the company wishes to start with few leased equipments and machines that need huge investment. The land for office premises is planned to be taken on a rental basis, which has to be paid for one year at the time of commencement of business. Thalatech (name of the firm) is a start-up firm, which has exciting business opportunities in the UK market where it is intended to concentrate its business in the first few years. The firm plans to provide technical services for offshore telecommunication projects - cable installation and surveys- throughout the country and expand its business to foreign countries in the near future. The service includes power cable installation for connecting oil platforms and its surveys for companies engaged in oil production and distribution. The major activities of the company involve the installation and maintenance of submarine fiber optic cables and other marine engineering services. ... This is the reason why it is planned to be located near to sources (i.e., similar firms and technical universities) of abundant workers-skilled and unskilled. The company envisages to providing professional service and advice to keep itself far ahead of its competitors, domestic and global. It firmly believes that it could capitalize the abundant business opportunities where its competitors are lagging behind. Falcon is likely to achieve 150 % of what its competitors are doing because of favourable location (near to airport) and other completive advantages such as personalized and professional service. A pilot market study to explore the key aspects of business finds that the firm would be able to achieve a substantial growth in sales over the next two years from the date of commencement of business. 1.2 Finance Required As the nature of the service of the proposed company is of highly technical and demands high professionalism, huge amount of funds is needed to finance the investment in various equipments machines and workforce. The company, therefore, plans to start with leased equipments that need huge investment. Moreover, in the beginning, the firm plans to hire only highly qualified and experienced staff, who have proved their mastery over the field. In addition to that, a very few unskilled laborers are to be deployed and trained by technicians and experienced staff. This also incurs costs. The office premises (land and office building) and other initial legal charges are also to be met by the start-up capital apart from those mentioned above. All these need huge capital and the company plans to raise funds for these needs through that contributed by shareholders. 1.3 Financial