Running head: TOOLSCORP CORPORATION’S BUSINESS PLAN 1

ToolsCorp Corporation’s Business Plan

Name

Institution

Date
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ToolsCorp Corporation’s Business Plan

Executive Summary

ToolsCorp Corporation is an already operational business, located in Tennessee and one that is

focused on revitalizing its process by expanding into the international market. The company

expects to utilize its local market as its stepping stone towards international progress. This is

particularly the reason why the organization focuses on increasing its local market acquisition by

using personal approaches with the target consumers. Thus, with increased regular loyal

consumers, the company can replicate this in its international expansion. Building a strong

market position internationally is the company’s ultimate goal. The company’s competitiveness

will be as a result of its product differentiation and focus to meet the demands of all classes.

Objectives

The company’s present projection are both short-term and long-term goals, with the former being

a 1 to 5 years speculation while the latter being a 10-year outlook. The company’s objectives are:

Short-Term Goals

 To become the local’s preferred producer of lawn mowers and other products such as

microwaves

 Ensure that it turns profits every three months; specifically in the international market

 Make sure that there is a 65 percent gross margin throughout the year in the international

market
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Long-Term Goals

 Become one of the leading companies in the production of lawn mowers and microwaves

among other products

 Customize most of its products to match the needs of international consumers

 To open various branches internationally and advance from one nation to the next

Product or Service to Be Sold

ToolsCorp Corporation plays some very crucial roles that include the production of power tools,

lawn mowers, lawn furniture, and microwaves. As of this occurrence, the company’s optional

services will typically be accorded to customers upon their request (Paley, 2006). Specific to the

products and service provision, the key aim is to expand the organization’s production of power

tools. The reason for focusing on this product is irrefutably as a result of the realization that

expanding this specific product guarantees the company’s expansion. On this note, the company

has been producing the power tools but not in plenty, which is why increasing the production of

these products is prioritized because of the potential inherent to it.

Marketing Strategy

First, ToolsCorp Corporation’s greatest focus is to make sure that it establishes a sizeable local

customer base and use this milestone to expand internationally. As of this comprehension, the

major concentration ought to be on enhancing the local business and dominating the target

market. Focusing on this is irrefutably a great move for the organization considering that it helps

in the establishment of a healthy and consistent local customer base that increases the business’s

stability (Mancuso, 2017). One of the ways to make sure that the local market acquisition

process is substantial is to canvas around the target local places. With such an approach, the
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company will be focused on making sure that it establishes good relations with the neighbors.

Good relationship, in this case, means having a personal association with them through

establishing communication strategies with the Tennessee locals. In doing so, the marketing

strategies will be in form of a personal communication with the target market, using signboards

across this market location, and advertising in local papers (Mancuso, 2017). Advertisement in

the local newspaper is categorically focused on expanding the company’s scope as a result of its

exposure to other neighborhoods. For the competition, there are several rival companies such as

Rector's Lawn & Garden Services, but the company’s approach is sure to mitigate that stiff

competition. That is, with its marketing strategies the company will not only make sure that

satisfies the locals’ needs in lawn and garden services but will also focus on outreaching to other

potential markets.

Operations

The organization is located in Tennessee and the fact that it is a corporate type of a company,

there is the need to have substantial legal aspects pertinent to this type of business. That is, the

company will ensure that the administration is such that the legal personality is different from its

owners (Lazonick, 2002). This will be in the sense that the owners, in this case, the stakeholders,

enjoy limited liability from the company despite their limited involvement in the organization’s

processes. The overall employee management will be executed by an appointed corporate body,

the board of directors.

Management

Being a corporation business entity, which happens to be owned by different groups of

individuals, the corporate body will play the roles of making sure that it regulates the business
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management process (Hiriyappa, 2013). This mode of administration requires that the people

work as units and produce values that generate the company sizeable income. The administration

process in this organization is therefore left to the shareholders, which means that the chain of

command is from the top to bottom since the decisions by the board of directors influence the

company’s overall process; more so, the employees. The management process, therefore, reflects

the board of directors’ involvement in the company’s processes.

Vision

ToolsCorp Corporation’s greatest objective is to ensure that it provides the consumers with high-

quality products. With such an objective, the key issue is what needs to be done in the attainment

of these goals. Thus, the company’s vision is:

 Strive to satisfy the consumers with high-quality products

 Ensure there is timely delivery of requested products

 Improve consumer satisfaction

 Use the local consumer-base to grow its services internationally

With such vision, it is irrefutably clear that with the right implementation of right strategies, the

company will surely manage to expand its operations internationally.

Financial strategy

With the comprehension that ToolsCorp Corporation has been performing remarkably, despite

the overall process of expanding internationally being with its hardships, with the right financing

this vision will substantiate. That is, the financial prospect for this project is that the company

will seek a loan of 5 million to finance its acquisition of resources necessary for its international
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expansion. For example, 3 million of this loan will be set aside for product and sales processes

while the remaining will be used in various aspects like being reserve cash (Mancuso, 2017). The

financial projection as of this project is that by the end of its first year in the international market,

the company will have managed to makes sales worth more than 1 million and subsequent years

will be followed by an approximate 15 percent increase. Moreover, the 3 million ought to be

utilized accordingly including sizeable marketing processes for guaranteed manifestation in these

markets.
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References

Hiriyappa, B. (2013). Corporate Strategy: Managing the Business. AuthorHouse.

Lazonick, W. (Ed.). (2002). American corporate economy: critical perspectives on business and

management (Vol. 4). Taylor & Francis.

Mancuso, A. (2017). Incorporate Your Business: A Step-by-Step Guide to Forming a

Corporation in Any State. Nolo.

Michel, D., Naudé, P., Salle, R., & Valla, J. P. (2002). Business-to-business marketing. Palgrave

Macmillan.

Paley, N. (2006). The manager's guide to competitive marketing strategies. CRC Press.