7.2 Nature of the business

This is an Example of the Nature of the business part of your bussines Plan

READYOU is a bookshop that is willing to use all the existing  opportunities of an expanding bookmarket in Budapest.

It is the goal of the management and of the company itself to acquire local market share in the bookshop industry through low price, a careful selection of products, a competitive variety of services including a buyback program,trade program, a hard to find book search and above all,a relaxing, friendly environment that encourages not only browsing and reading, but finding new information and why not new friends, too.

The idea comes from the fact that books and reading are becoming increasingly popular in people’s life. There is such a tendency regardless of people’ age and in this downtown part of  our city I think there is much need of a bookshop as the other similar companies are not present in this area, not to mention the fact that they offer a different type of service.

The inside of the bookshop would be very cosy, more like a reading room, activity that we will encourage through comfort, convenience and the placement of furniture.There would be comfortable sofas and chairs around the central area so that the readers can sit down, with a large, round, colourful display rack in the middle of the room where the new books and acquisitions will be placed.

We strongly encourage our customers to spend as long as they like reading through our book selection and enjoying a quiet, relaxing environment.

Our opening  store hours will be between 8.00 a.m. to 8.00 p.m Monday-Friday and 10.00 a.m. to 6.00 p.m.on  Sunday, so that primary school and high school children can spend quite a lot of time here. Once profitability becomes stable, we will extend these hours.

My target segment is  the local inhabitant but mainly children and students of all ages.

I’m planning to advertise my company by ads in the local newspapers, and sending out flyers. We are preparing our website,too,where all relevant information willl be found. As we have a family member who is a website designer this will be no problem for us.

We are expecting to operate at a loss for the first couple of months before advertising begins to take effect and draw in customers, but we also expect a relevant income increase in the last two months of the year, before Christmas.