Botswana’s increasing entrepreneurial population and fierce competition between existing businesses has resulted in a higher demand for market research and services. For companies to be ahead of their competitors, they need market research.
Palms and Bonds, a Botswana-based company, offers the knowledge and expertise that a market-opportunity-seeking company requires to enter new markets and develop new product distribution channels. We will provide many services for the business community as well as the general public. These can be summed up in two main divisions — Business and Training Services. You can choose to use our business services for marketing research, market research reports and project-based consulting. We also offer plan consulting and writing as well as high-level retainer consultancy and company registration. Our training services include workshops or seminars on topics like sales and market, as well in-house training of secretaries, receptionists, and sales and/or marketing personnel.
As a result, our intended markets are becoming more aware of the differences between low quality and high quality business consulting services. This is a significant trend that we see as it is a sign of our target market and therefore an opportunity. We now are having an increasing number of people who appreciate quality information and the importance of having comprehensive and concise market and business plans undertaken.
Another trend is that companies are increasingly relying on specialized, focused consultants to replace in-house resources. Companies are seeking out-sourcing, though few companies offer such a service. There is also a preference to have variable costs rather than fixed costs.
There are numerous companies operating in Gaborone who classify themselves as “business consultants”. It turns out that most of these companies are secretarial and bookkeeping services businesses. While some companies offer similar services as ours, that is a good thing. However, none of them specialize on market/marketing analysis. The following are our main competitors.
Palms and Bonds provides clients with reliable, high-quality information and proposals for market development and business development. This will help maximize business development. We offer a real alternative to in-house resource, a high level practical experience, network, know-how and confidentiality. Palms and Bonds is able to offer complete solutions to clients’ problems which will encourage business development. Working with Palms and Bonds can be a more professional and risk-free way to grow new areas than working in-house. Palms and Bonds need to be able keep their finances in order. They must charge a reasonable and fair price and provide a higher level of service to clients. Development of local clientele will be the first focus.
Below are the annual sales projections over three years. We expect sales to grow faster than in the first year as we become more established and well-known on the market.
The Botswananpula is the source of financial projections.
Financial Highlights for the Year
You will need financing
Each co-founder will contribute $35,000 for a total investment in the amount of $70,000 The start-up capital required and expenses incurred (including legal expenses, logo design, stationery etc.) totalled approximately $49,000. The additional $20,000. worth of start-up assets needed and used included personal computers and vehicles.
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