EXCUTIVE SUMMARY

1.1  Business Description

MARINE PROTECTION DEVICES CENTRE will be the business’s name. The business will be situated in Kisumu town, next to the Kisumu Maritime Institute. Selling and maintaining marine protection equipment will be covered.

The sole proprietorship will launch on January 1, 2024. As there is an assurance of growing demand for its products due to the current strong investment in the blue economy, it will fall within the marine industry.

1.2  Marketing Plan

The Kisumu Marine Protection organization will focus on all types of clients in the Kisumu region, including locals, institutions and businesses. The business will initially aim for a population share of 29% of the market and as it grows, it expects the margin to rise.

This will be accomplished through marketing, air pricing, selling services to consumers like sailors, giving known customers discounts and granting credit. The business will also take into account its distribution strategy, which is how it makes its items available to buyers.

1.3  Management and Organization Plan

Mr. Job will serve as the business’s manager, together with a team of office secretaries and security personnel. The business will perform hiring in order to raise employee morale and incorporate fresh concepts from outside sources. It will keep its employees up to date on new technology by offering both internal and external training.

The Kisumu branch of the Kenya Commercial Bank will provide banking services, the Co- operative Insurance Business will provide insurance and Lake Bridge Forwarders will provide transportation services for the Kisumu Marine Protection Enterprise.

1.4  Operational Plan

For the firm to operate smoothly, the Marine Protections Devices Center will need a purchasing plan. The business must provide services like order collection and delivery. The business’s

operations will take place within a well-organized set of facilities, whose arrangement is guaranteed to make it simple for customers to get the products. In order to efficiently serve the consumers, the firm will open at 8:00 and close at 5:00.

1.5  Financial Plan

A business plan that includes working capital, intended funding, pr-operational capital costs, and projected capitalization will be created.

The final strategy will be crucial in assisting the business owner in managing the business successfully and avoiding pitfalls that could lead to business collapse. The business will invest Ksh. 1,200,000 in capital, which will come from the owner’s equity, contributions from friends, and a bank loan from a cooperative bank.