VIDEO RENTAL BUSINESS.   Term Paper ID:18475 Click to get this paper

Essay Subject: Develops plan for starting business based on vending machines.... More...

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Paper Abstract: Develops plan for starting business based on vending machines. Paper Introduction: Introduction This research develops a business plan for a prerecorded video cassette vending rental business. The elements of the plan are (a) a statement of the reasons for starting the proposed business, (b) a description of the business concept, (c) an identification of the target market, (d) a description of the business to be started, (e) a promotional plan for the proposed business, and (f) a personnel plan for the proposed business. Additionally, an estimate is presented of the start-up cash which will be required. Reasons for Starting a Business The motivations of the entrepreneur for starting the proposed business are a personal interest in prerecorded video cassettes, and the relatively low barriers to entry which Text of the Paper: The entire text of the paper is shown below. However, the text is somewhat scrambled. We want to give you as much information as we possibly can about our papers and essays, but we cannot give them away for free. In the text below you will find that while disordered, many of the phrases are essentially intact. From this text you will be able to get a solid sense of the writing style, the concepts addressed, and the sources used in the research paper. business b adescription of the business concept c an the start-up cashwhich will be entry which characterize the video cassetterental Feature length films musical presentations and other through both the sale of the tapesand through rental in turn sell the prerecorded video cassettesto forapproximately percent of total revenues with feature length motion picture ranges from to for and theretail rental price for prerecorded a desire to build up and prerecorded video cassette tapes The newest development in the all rentaltransactions are processed by a vending machine Consumer Description work apartment complexes within other retail establishments such draw consumers away from the standardprerecorded video tape rental stores vending machine rental concept is a consumers who seek maximum convenience Business to Be loweroperational costs result from a video cassette tapes which can be each vending machine tosatisfy consumer demand of percent of revenues Most published projectionsclaim that vending machine along with sales and video vendingventure is to succeed Lastly the vending been corrected The currently available the prevention ofunauthorized rentals and b between leasing and buying Video vendingmachines under thecurrent federal income tax laws regarded motionpictures Direct lease costs a lease agreement the tape may video tapevending rental business are presented in vending rental concept to consumers while the employed in promoting the venture recruit fully trained individuals while respect toall other personnel it will be desirable maintenance of these machines must be available immediately There Thus in-house training will be moreeffective All equipment maintenance and involved in equipment video vending machines maintenance andrepair will be incentive payment based on attaining presetgoals In all however are also required This motivation will attain established goals will result in a review of bothperformance the plan be implemented Table Estimate of Business Start-up RequirementsOne-time Monthly Multiplier CashItem Expense months NeededSalary of owner-manager All PA Audio Video World Lazare L October Bally partner money machine Video Store Newcomb P and the distribution oftheatrical films In Economic business The elements of the plan are a for the proposed business and f a personnel plan the proposedbusiness are a personal interest are capital requirements and an absenceof large firm industry cassette recorder VCR The video cassettetapes their products to distributors for revenues approximated billionin At the retail level primarily topricing differences The retail purchase price of a to per each hourperiod Newcomb The significant price disparity as the primary reason for consumerpreferences for renting Waterman a number offactors have contributed to the development of a prerecorded videocassette tapes have occurred through retail stores with Reeves Vending machines may be located ina wide and return of tapes easier for the important with respect tothe rental of prerecorded of videocassette tapes will target the same operation than those associated with are partially offset by a vending machine acquisition costs and capacity because up to five tapesof the most per day at a per tape based on an unrealistic per dayrental price of Audio operating income Thus theremote site the venture to becomeunprofitable Most of accurate accounting records and afford operators some to acceptance and restocking With respect to video tape vending required if the machines are leased Additionally Prerecorded video cassette tapes range in price from for wears to the pointwhere it can of rental tapes isthe preferred strategy Start-up capital and distinct functions The first in promoting the venture to consumers employee recruitment and trainingconcerns the level of expertise which toequipment video vending machines maintenance and repair personnel itwill this venture is to be successful situation is different The industry is new will be paid on a straight the extent that such downtime iscontrollable by maintenance Personnel are required Reliability will be instilled both consumer rentals and siteacquisitions will a prerecorded videocassette vending rental business Based on with utilities Legal professional fees Licenses permits Start-up inventory services Miscellaneous Sub-total Total estimated cash needed for ma no hands Video Store E J December An end to fast forward Growthfaces Introduction This research develops a business plan for identification of the targetmarket d a description of required Reasons for Starting a Business The industry For the entrepreneur the performancesare prerecorded on video cassette tapes for viewing on of the tapes Motion picture producers recording retailers who both sell and rent the cassettes the remainder derived fromtape rentals Savitz the vast majority of releases while the retail rental video cassette tape of feature maintain a bulky and expensive video prerecorded video cassette rentalindustry is the introduction of distribution The attraction of the vending as grocery stores or conveniencestores and even in retail Surveys have indicated that convenience and availability are foremostamong the reasonableexpectation The general target market for prerecorded video Started The attraction of the vending machine concept for the elimination of human processing ofrentals and returns and b stocked in avending machine is Lazare The tape holding Martin Remote site locations must be about rentals per day will administrative expenses interest and taxes machines must function with little maintenance and with machines accept payment in a variety the return of the incorrect tapes What thecurrently available cost from to depending upon the Thus with respect to video vendingmachines the strategy will provide are higher than purchase costs bereturned for replacement When the tape is owned however Table Promotional Plan The promotional effort for the second is selling theconcept to the owners to the owners ofpotential vending machine sites Personnel on theother hand the firm can recruit individuals possessing basicqualifications to recruit individuals possessingbasic qualifications for further training Video vending is not the luxury of time for in-house repair personnel and all salespersonnel will be compensated on a paid a competitive wage plus an incentive payment instances this venture requires personnel who are highlyreliable In be developed in part through the and goals and necessary corrective actions will beimplemented Summary Start-up Costs AmountFixtures equipment initial lease other wages salaries Rent Advertising Supplies Telephone Other utilities hope to click in videovending venture Crain's February Can video stores survive Forbes Reeves M October Essays on the Theatrical Motion PictureIndustry astatement of the reasons for starting the proposed for the proposedbusiness Additionally an estimate is presented of in prerecorded video cassettes and therelatively low barriers to dominance in most markets Business Concept are distributed to home viewers further distribution tohome viewers Distributors sales of prerecorded video tapes account prerecorded videocassette tape of a between the retail sale price There are also other reasons such as an absenceof strong and growing marketfor the rental of all transactionsprocessed by employees Under the vending machine concept variety of site types such as places of consumer the vendingmachine concept is expected to video cassette tapes McKenna Thus consumer acceptance of the general market with a special emphasison those theoperation of the prerecorded video cassette rental store The b machine maintenance costs The maximum number of popular titles must often be carried in rental of in order to produce anoperating income Video World The depreciation or leasecosts on the locations must be particularly good ones if a the maintenance problems encountered in the earliervideo vending have degree of security in a machines the acquisitionquestion concerns the decision the lease expense will exceed the depreciation veryold motion pictures to for new and highly no longer be rented Under estimates for the proposed prerecorded of these functions is sellingthe Direct mail andpersonal selling will be will be initially acquired on theone hand the firm can be desirable to recruit fully trained individuals With Therefore expertise for therepair and and unique approaches are required salary or wage basis Personnel involved in sales will be paid acompetitive salary plus an through competitivebase compensation High levels of motivation be established These goals will be monitored monthly Failure to the findings it is recommendedthat downpayment Advertising promotional expense Cash Misc item costs Sub-total start-up References Audio Video World Comparison of operating costs Chalfont McKenna D J June The obstacles at Blockbuster Entertainment Barrons Waterman D Prerecorded home video a prerecorded videocassette vending rental the business to be started e a promotionalplan motivations of the entrepreneur for starting most significant of therelatively low barriers to entry home television setsthrough the use of a video studios and other programproducers sell to consumers At theretail level prerecorded video cassette The disparity between tape sales and rentals is due pricesfor the same tapes generally range from lengthmotion pictures is often cited cassettetape library Thus consumer preferences with respect to through vending machines Reeves Prior to this innovation rentals of machine concept for consumers iscentered in convenience video cassette tape sales and rental stores Bymaking the rental factors that consumers consider to be tape rentals spansall demographic characteristics The vending machine rental the retailer liesprimarily in the lower costs of lower site location costs Savings in theseareas capacity however is not synonymous with the title holding able to generate approximately rentals produce a percent operatingincome however these projections are must be deducted from the efficiency or the costs will cause of ways accept returns restockreturned tapes automatically maintain machines do not do is check for damaged returned tapesprior quantity in whichthey are acquired Less capital is for leasing the machines as opposed tobuying them Someadvantage does accrue from leasing however when a tape a replacementtape must be purchased Overall however the purchase video vending venture will have twoseparate of potential vending machine site Media advertisingwill be employed Plan The basic choices in the area of who will then be trained by the company With respect machines must function efficiently on a continuousbasis if training in this area In thearea of sales However the salary or wage plus incentive basis All other personnel whichwill be based on machine downtime to part this requirement exists because relatively fewpersonnel incentivecompensation programs Sales goals with respect to and Recommendation This research developed a business plan for costs Installation costs of above Remodeling decorating Deposits Insurance Taxes Social security taxes Interest Maintenance Professional Chicago Business Martin D R May Look Video rental machines New market forvendors American Automatic Merchandiser Savitz pp Stanford Stanford University business b adescription of the business concept c an the start-up cashwhich will be entry which characterize the video cassetterental Feature length films musical presentations and other through both the sale of the tapesand through rental in turn sell the prerecorded video cassettesto forapproximately percent of total revenues with feature length motion picture ranges from to for and theretail rental price for prerecorded a desire to build up and prerecorded video cassette tapes The newest development in the all rentaltransactions are processed by a vending machine Consumer Description work apartment complexes within other retail establishments such draw consumers away from the standardprerecorded video tape rental stores vending machine rental concept is a consumers who seek maximum convenience Business to Be loweroperational costs result from a video cassette tapes which can be each vending machine tosatisfy consumer demand of percent of revenues Most published projectionsclaim that vending machine along with sales and video vendingventure is to succeed Lastly the vending been corrected The currently available the prevention ofunauthorized rentals and b between leasing and buying Video vendingmachines under thecurrent federal income tax laws regarded motionpictures Direct lease costs a lease agreement the tape may video tapevending rental business are presented in vending rental concept to consumers while the employed in promoting the venture recruit fully trained individuals while respect toall other personnel it will be desirable maintenance of these machines must be available immediately There Thus in-house training will be moreeffective All equipment maintenance and involved in equipment video vending machines maintenance andrepair will be incentive payment based on attaining presetgoals In all however are also required This motivation will attain established goals will result in a review of bothperformance the plan be implemented Table Estimate of Business Start-up RequirementsOne-time Monthly Multiplier CashItem Expense months NeededSalary of owner-manager All PA Audio Video World Lazare L October Bally partner money machine Video Store Newcomb P and the distribution oftheatrical films In Economic business The elements of the plan are a for the proposed business and f a personnel plan the proposedbusiness are a personal interest are capital requirements and an absenceof large firm industry cassette recorder VCR The video cassettetapes their products to distributors for revenues approximated billionin At the retail level primarily topricing differences The retail purchase price of a to per each hourperiod Newcomb The significant price disparity as the primary reason for consumerpreferences for renting Waterman a number offactors have contributed to the development of a prerecorded videocassette tapes have occurred through retail stores with Reeves Vending machines may be located ina wide and return of tapes easier for the important with respect tothe rental of prerecorded of videocassette tapes will target the same operation than those associated with are partially offset by a vending machine acquisition costs and capacity because up to five tapesof the most per day at a per tape based on an unrealistic per dayrental price of Audio operating income Thus theremote site the venture to becomeunprofitable Most of accurate accounting records and afford operators some to acceptance and restocking With respect to video tape vending required if the machines are leased Additionally Prerecorded video cassette tapes range in price from for wears to the pointwhere it can of rental tapes isthe preferred strategy Start-up capital and distinct functions The first in promoting the venture to consumers employee recruitment and trainingconcerns the level of expertise which toequipment video vending machines maintenance and repair personnel itwill this venture is to be successful situation is different The industry is new will be paid on a straight the extent that such downtime iscontrollable by maintenance Personnel are required Reliability will be instilled both consumer rentals and siteacquisitions will a prerecorded videocassette vending rental business Based on with utilities Legal professional fees Licenses permits Start-up inventory services Miscellaneous Sub-total Total estimated cash needed for ma no hands Video Store E J December An end to fast forward 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