My Business Essays

My Business Essays My Business Essay My Business Essay Name: Lecturer: Course: Date: My Business Nogales, Arizona is a city that borders Nogales, Sonora and Mexico (Jennings, 20). Since the city is based on agri-business that originates from farms in the Mexican agri-belt, the most favorable business to start due to the constant border migration is real estate and tourism. This would be favorable since the citizens crossing the border would require accommodation and would like to get to know the country they have crossed over for their own reasons. The reason for choosing the Real estate is the need of a dwelling for a number of immigrants that get to find greener pastures in the neighboring land that is the neighboring them. The other reason is that there is an opportunity to leverage assets that allows businesses to grow and creates a number of profitable opportunities (Jennings, 20). Due to the profitable opportunities available in the region, tourism becomes a valid business venture. The reason for selecting tourism is to enable the residents or tourists residing in real estate housing know their environment. Moreover, it is to boost tourism essence and beauty of the country. In both real estate and tourism, intense research is required to ensure a vast, broadened knowledge. Reading relevant articles that give an understanding of location that the real estate and tourism should be set up and understanding the markets expectation is a key need in all this venture of business. The kinds of people that live in Nogales are the main factor of consideration that in making the business relevant and quite necessary. The target people here are the immigrants and tourists that visit. However, this will be a success only if the employees that will be in perspective of this business understand four aspects of the home businesses. These aspects are marketing, finance, sales promotion and public relations. This will make the running of the real estate to be monitored on a constant basis as the tourism aspect is tackled on a gradual basis (Jennings, 21). The age group between twenty years and forty-five year are usually the working class. The retirement group is usually between fifty years plus. Therefore, to cater for all the group dynamics involved there are different rates set for both the groups. This will in essence attract both the age groups through the enticing rates set during the vacations and the rates set for the immigrants that will have no dwelling place for their families (Kleiner, 203). The demographics involved for the choice of such a businesses include the currency culture, income relevant, education levels, gender and the language and gender, if need arises. It is stated that the racial make-up of the city of Nogales is diverse. About ninety-three percent of the population is said to be Hispanic or Latino of a divergent racial background. As for the families, there are a number of households involved. Moreover, out of the entire household there is a forty percent chance that children under the age of eighteen live with their parents. There is also a fifty percent chance that married couples are living together and that seventeen percent is a non-family aspect. This aspect indirectly and directly affects the general income aspect that boosts the business venture that is involved. There are also the elderly that are in the range of the age of sixty-five plus years (Kleiner, 203). They are also in a number of households. Their income is usually their pension if the y are retired or probably retrenched. The immaculate fact here is that all these people in these households have a common ground to share a vacation and a place to have a shelter. The consideration of the income will eventually dictate the rates that will be involved in the real estate and the tourism aspect. The income rate per annum should be directly proportional to the per capital income for the city (Pride, 29). In addition, since there is about forty-five percent of the population below the poverty line, a valid and huge consideration requires the staff to cater for all the Nogales citizens. The result of delegation of such duties to staff members will ensure efficiency and fervency in the tourism section. The aspect of real estate with maintenance and provision for room services and any other form of legal services will keep the citizens of Nogales interested and their anticipation boosted. This is because the offers that will be provided will cater for all kinds of people in Nogales. My expected or estimated budget is about three hundred and fifty thousand dollars for the real-estate venture while for the tourism is estimated for about three hundred thousand dollars. This will enable both the businesses to start and merge as a unit at some point to accomplish its intended goal to cater for the groups of people. The set capital budget suggested is a calculated risk including the all the aspects that had been discussed earlier. These aspects include marketing, finance, sales promotion and public relations (McKeever, 30). To break down all the aspect involved and their budget in perspective is as follows: General capital for both the businesses will take an amount of three hundred thousand dollars. Marketing for both the business ventures will take an amount of fifty thousand dollars. The Finance will be allocated an amount of a hundred and fifty thousand dollars. Sales promotion shall be allocated the same amount as public relations, that is, about seventy-five thousand dollars. The reason for such an allocation of resources is to cater for the number of expenses that are going to be a probable incurrence that will be for the intended use and other miscellaneous expenses. The General capital is usually an estimate that is usually or slightly lower than the intended cost or probably a little higher than the intended money that is usually set aside. This estimate is usually calculated in such a way incase there is a variance in an item that is essential and its price is different according to the follow up on the approved budget plan. This cannot be the only factor that affects the estimated capital. The other factor is depreciation and appreciation of goods and commodities in the society (Pride, 81). This in essence affects the initial plan, as there is fluctuation of the economical goods and services (Jennings, 29). The marketing amount has that set allocation since that would be more than enough to market the relevant aspects. This is because the facts involved are not as immense as involving the labor that is involved which bring us to Finance allocation. The labor involved may be a lot and in-order for the labor to be cost effective the workers have to be well paid to enable efficiency. Sales and Public relations have the same dividends since the aspect that involves motivation and sales requires meeting and convincing clients of the services offered. In conclusion, the business solution aspect and the start of business in Nogales, Arizona is quite possible so long as there is a thorough draft of business plan involved (Kleiner, 205). The other aspect is to back up the business plan is the intense research that entails assessment of the environment of interest, the population density, the market share and availability and finally the efficiency of the supply and demand. These aspects and other factors should have the capabilities to make a new market workable in terms of tackling the need of the people of Nogales in Arizona (McKeever, 35). Works cited: Jennings, M. M. Business: Its Legal, Ethical, and Global Environment. New York, NY: Cengage Learning. 2010. Print Kleiner, E. The successful business Plan: secrets and strategies. Palo Alto, CA: The Planning Shop. 2003. Print. McKeever, M. How to Write a Business Plan. Berkeley, CA: Nolo. 2010. Print Pride, W. M., Hughes, R. J. Jack R. Kapoor. Business. New York, NY: Cengage Learning. 2011. Print Zacharakis, A., Spinelli, S. Jeffry Timmons. Business Plans that Work: A guide for small business 2/E. New York, NY: McGraw-Hill Professional. 2011. Print.