Innovation and Entrepreneurship

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TABLE OF CONTENTS

STATEMENT OF PURPOSE3
1.0 EXECUTIVE SUMMARY3
2.0 DESCRIPTION OF THE IDEA4
2.1Company summary4
2.2 Mission, Vision6
3.0 MARKET ANALYSIS6
3.1 Overview of UK advertising spending trends6
3.2 Market Trends9
3.3 Competitor Analysis10
3.4 Critical Risks and Problems11
4.0 STRATEGY AND IMPLEMENTATION SUMMARY13
4.1 Competitive Edge13
4.2 Marketing Strategy14
5.0 MANAGEMENT TEAM14
6.0 FINANCIAL PROSPECTS15
7.0 PROPOSED FUNDING19
8.0 REFERENCES20
9.0 APPENDIX21
9.1 Questionerfor Members of Public21
9.2Questioner for Traders / Business Owners22
9.3 Financial analysis / Profit and Loss Forecast23
9.4 Church Street25

STATEMENT OF PURPOSE
This business-plan is executed and performed for the purpose of attracting a sum of £17.500 from venture capitalists in exchange of the 15% share in our company. Appendix 1 shows a monthly cash flow prediction for the first 5 years of the company's operations. 1.0 EXECUTIVE SUMMARY

ItCoutns is formed as a limited company by Ruth , Lloyd , Maka and Billi. All co-founders are MBA students with practical experiences in different industries. ItCounts is an online (website) and offline (magazine/ flyers) advertising platform for businesses located and operating in Church Street. The platform offers deals, promotions and information on products and services to local communities as well as other interested consumers. In addition to the offerings, community members will have the opportunity to socially engage, publish news, form groups and distribute information on the platform. ItCounts’ market strategy focuses on advertising in Church Street, London and the surrounding areas, as the company grows, ItCounts will commence marketing in other areas of London. ItCounts requires £27,500 as a startup fees. The break-even analysis indicates that £13,000 will be needed in monthly revenue to reach the breakeven point in 11 months and 21 days.

2.0 DESCRIPTION OF THE IDEA
2.1Company summary
ItCounts is a limited company located in London, UK. It is an online and offline advertising platform for communities and traders. ItCounts will initially focus onthe Church Street community (Appendix 4). The purpose of ItCounts business model is to benefit businesses and local communities. ItCounts provides discount vouchers, deals and promotions to the local communities in Church Street. The vision is, as the business grows ItCounts will offer the same services to other local communities in London. Table1 demonstrate the services ItCounts offer.

Table 1: ItCounts Services
The core business model consists of recurring monthly revenue from membership fees paid by traders. The cost of the membership fees and available packages are contemplated in table 2 below. Table 2 Membership Fees

Table 3: Non-Membership Fees

2.2 Mission, Vision

Mission: To become the first platform to link local businesses and communities, with the purpose of facilitating growth and improvement in the local areas. Vision:
* To benefit the local communities by offering them deals, promotions and discounts that will help everyone save money; * To provide the best promotional and advertising solutions for local communities and traders (online and offline); * To benefit local traders by promoting their products and services; * To ensure the profitable return for our investors;

3.0 MARKET ANALYSIS
3.1 Overview of UK advertising spending trends
It was recently reported in IPA (Institute of Practitioners in Advertising) that in 2011, total advertisement spending (including direct mail) increased by 2.7%. It is anticipated that further growth will increase by 3.8% in 2013. Total display advertisement spending increased by 1.3%, whilst classified increased by 6.1%. Print advertising experienced further loss of revenue, whilst TV, radio, OOH (out of home) and direct mail each recorded annual increases. Internet was the fastest growing...
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