Research Proposal For New Florist Business Commerce Essay Example
Research Proposal For New Florist Business Commerce Essay Example

Research Proposal For New Florist Business Commerce Essay Example

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The text discusses the process of researching and evaluating a flower concern called "Drake Algar". The person expressing their thoughts states that they want to start a new concern but don't have any ideas yet due to the abundance of concerns already existing. However, the idea of opening a flower store comes to mind, even though they have limited knowledge about the flower business. Therefore, they decide to conduct research on a specific florist store named "Drake Algar". The objective of this research is to explore the importance of performance and appraisal standards within a flower concern, as well as identify the key processes of the selected concern and determine control measures to support the research objectives. The person follows various steps in their research. In the first part, they introduce "Drake Algar" and provide its mission statement. In the second p

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art, they discuss the objective and performance activities of the store and explain how they gather information in different functional areas. The third part addresses the issue of management systems and control techniques used by "Drake Algar". Ultimately, they conclude their research on "Drake Algar" by presenting their findings and justifying various aspects of the organization. It is noted that "Drake Algar" is a reputable retailer specializing in high-quality flower arrangements, weddings, and houseplants. It is situated in St Johns Wood, London and was established in 1937.Drake Algar is the official florist for MCC (Melbourne Cricket Club) and specializes in interior decorator agreements for tables, displays, and corsages. Located on St. John's Wood High Street, Drake Algar Florist is a neighbor of the famous cricket venue 'Lord's' and serves a client base ranging fro

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small to large corporate clients, successful professionals, and high-profile personalities. The business generates a significant portion of its income from services such as selling and ordering gift items for various occasions including birthdays, Christmas, Valentine's Day, Mother's Day, newborn celebrations, and funerals.

The mission statement of Drake Algar Florist is "We are Smart in the flowery universe." In conducting preliminary research for a new flower business venture, I have looked into other flower businesses as well. I believe that relying on only one source is not the best approach for conducting research from a single angle. I have gathered many ideas from these different flower businesses and books related to this research, which has helped me in my exploration of establishing a new floral business.

Marketing Research

In her book, Stephanie Beener (2008: 25) emphasizes the importance of finding the ideal location for a new flower business. Based on numerous locations studied, it has been observed that most floral stores are situated on the main street.The busy street is beneficial for attracting clients from various areas in the market. It is important to choose a location that can be easily seen on a highly traveled route. The best option for maximizing profits is to select a city or town where there are no other flower stores. When considering the building for the new flower store, it is necessary to take into account whether it contains apartments above. If this is problematic, it may be better to search for a standalone building. Ideally, the building should have necessary amenities such as a front room for clients, a back room for preparation and storage, and a storefront to

display arrangements to passersby.

In terms of financial research, Bruce W. Currie said, "When words escape, flowers speak." In another guide, there are suggestions about financial arrangements for the new business. Alias stated that opening a new flower business can be financially rewarding by putting in more effort. This means that the more rewards received from clients, the more accounts will be established and the number of orders from outside the town will also increase.In a magazine, Cheryl Kimball (2006: 45) discusses the two types of money needed for a startup business. The first is startup money, which is the initial amount required to start the business. The amount of money needed will depend on the type of florist business being started and includes three months' rent and a security deposit. Additionally, suppliers often require new businesses to pay upfront for their first order and set up an account with a low limit. Other expenses include setting up phone and utility services, acquiring credit card processing equipment, and cash registers. Supplies such as thread, packaging materials, and flowers are also necessary. Essentially, the startup capital should be sufficient to open the doors to the business.

The second type of money needed is operating capital, which is necessary to keep the business running until it generates enough income. The goal is for the business to generate its own operating capital and eventually profit as well. Until this happens, expenses such as fuel for delivery vehicles, phone bills, electricity for the store, and regular employee wages need to be covered.

Customer Base Research

After conducting fiscal research, there was a need to project my clients. I was intrigued by

Stephanie Beener's thoughts on attracting clients in her book (2008: 28-29). She emphasizes the importance of adopting effective strategies and not resorting to stealing clients from competitors. Instead, she suggests utilizing offers, advertisements, and marketing strategies to attract clients. However, she advises against distributing leaflets or advertising material for my own flower store in front of other florist shops. Beener also recommends utilizing family, friends, and other connections as regular clients and leveraging their networks to expand my customer base. Additionally, I should reach out to my schoolmates and distribute business cards at parties or seminars. Advertisements in the Sunday paper and targeted mailings to local offices, buildings, businesses, and residences can also help attract more clients (Beener 2008: 29).

Beener (2008: 29) further emphasizes the importance of establishing a strong foundation before opening a business to prevent its failure.

Research Questions And Aims

Research Questions:

Here, I will list the research questions that have emerged from the background and literature review. Based on the explanations provided above, certain adjustments need to be made, such as identifying the most influential competitor to this florist business.The location of Drake Algar is on St John wood high street in Central London. It has two competitors, Melissa Riva Flower ltd and Hanna Lee florist, but both of their client rates are significantly lower compared to Drake Algar. This is because both competitors are located off the high street. Currently, what selling techniques are the rivals using? Although neither of the rivals has a website for their business, they are both planning to set up web pages. Are the workers at Drake Algar happy and motivated? Yes, the workers at Drake Algar are

very happy because the management is friendly and they receive good wages. Are their clients satisfied? 98% of the clients are satisfied with the services they receive. Drake Algar provides excellent services by delivering flowers on time and in good condition at low prices. They also charge their clients for delivery. The main objective of Drake Algar is to provide customers with perfect services, high-quality flowers, and beautiful arrangements that will continue to impress them. They take pride in their group of private and corporate clients and hope to see that list grow in the future. Goals give the business a clear target, allowing plans to be made that can motivate employees.The text states that research design is essential for measuring progress towards a business's goals. It is compared to a gum that holds all the parts of a research project together. The author developed a design that efficiently summarizes a complex structure and shows how different models integrate into the Drake Algar process model. The following figure represents different aspects of the Drake Algar model. The design aims to achieve greater customer retention, improved marketing and sales strategies, migration of customers to online platforms, staff training, increased sales to existing customers, better product placement and marketing techniques, community engagement, formation of local strategic alliances, database marketing, proactive joint marketing, and targeting the PA/Secretary market. The data for this research was collected using the observation method. The author observed the behavioral patterns of the business being researched in a systematic manner by playing different roles as a participant in the research.I effectively work as an employee, collaborating with other employees. Initially, it was challenging for

me to be an observer, as I encountered various tasks. However, I noticed that creating friendly relationships is a valuable approach to facilitate research.

In terms of the Access & Sampling Strategy, the sample refers to the individuals I have chosen to participate in my research survey. For this exploratory study, I employed a convenience sampling method. The aim was to obtain a reasonably priced estimate of the truth. This non-probability method is particularly useful for initial research endeavors, as it provides a general estimation of the results without the need for a random sample selection, which can be costly and time-consuming. Therefore, in this research, the sample consists of individuals who possess expertise in floristry.

Moving on to Data Analysis and Presentation, I utilized Descriptive Statistics to describe the essential characteristics of the data collected for my study. By providing concise summaries of both the sample and the research process, and employing simple graphical analysis, I establish the foundation for nearly every quantitative data analysis. Descriptive statistics are distinguishable from inferential statistics, which is why I chose to use descriptive statistics for my data analysis. With descriptive statistics, I am simply presenting what the data reveals in this research project. The Descriptive Statistics that I utilized present the quantitative findings in a manageable format.I may conduct this research survey in various countries and gather data from a large number of florists. Descriptive statistics simplify the analysis of a substantial amount of data in a logical manner. The bar chart on the following page, titled "Fig 2. Florist distribution bar chart," illustrates the percentage of individuals involved in the flower business who express interest in buying

flower corsages. Percentages can also be used to display the interest in purchasing flowers among different age groups: 35-45 (e.g., wedding flowers, flower corsages), 46-65 (mainly office workers), and 65-66+ (interested in sending occasional gifts). However, there are several limitations to this research. I encounter various challenges during the observation phase, such as determining whether I need to inform management and unions about the study and considering the ethics involved in this business. Additionally, maintaining confidentiality is a concern. Limited access to information, resources, guidance, and experts for refining ideas also poses obstacles. Support from supplier organizations and local participants is another challenge I face in different groups.The experiment is an unpredictable endeavor for me, as it involves participants being randomly assigned to different conditions, which may allow for making important decisions if the variables being studied are not affected by other factors. Consequently, I cannot be completely certain whether the findings will apply to other individuals, situations, or the concept I am contemplating for my new business.

Reliability and validity refer to the extent to which conclusions can be legally drawn from the operationalizations used in the research. In my study, the constructs rely on these operationalizations as a foundation. I find it helpful to divide the issues into two categories: the "area of theory" and the "area of observation." In the area of theory, I search for ideas or actions that align with the outcomes or measures I am aiming to collect through this research.

The area of observation involves what I observe happening in the flower market around me and how customers perceive it. Therefore, in this area, I must obtain reliable and valid

data to support the research's objectives. Specifically, when referring to a reliable measure, I mean one that is both dependable and valid. Thus, I need to be more precise when collecting information. In research, reliability signifies "repeatability" or "consistency." A measure is considered reliable if it consistently yields the same result repeatedly.In my research, I have found that dependability and cogency are interconnected. The information I have collected is trustworthy and reliable because I used the observation method, witnessing the entire process as a participant in this organization. Additionally, I have investigated the performance activities of the Drake Algar Florist store, which greatly contributes to the organization's credibility and reliability. This has greatly assisted me in my research for my new business venture. The systems of Administration, Marketing and Sales, Supply Chain Production, Finance & Accounting, Human Resources, and Control Techniques are all strategically managed in Drake Algar. These systems ensure the smooth flow of goods and services from manufacturers to customers. It is crucial for Drake Algar to continuously conduct a competitive review and regularly analyze the market to keep up with customer preferences and identify new entrants. In order to thrive in an ever-evolving business environment, they must stay updated with current trends and demand highly-qualified employees.This concern must battle to keep their course of study up to date because the work environment today is significantly different than before. The Problem Log Book lists the undertakings, problems encountered, and how those problems were solved. Comparing and contrasting the different functional areas of an organization was a challenging task, as was obtaining accurate information about a particular company. It was also difficult to compare

different areas of functionality. However, by working at a selected company, I was able to gather the right information. Understanding the information needs of each functional area and finding the necessary information for each individual area was also challenging. To address this, I selected key information needs for each area. Analyzing the information needs for a given scenario or case study required understanding the detailed flow of design and information collection. My instructor provided hints and some information to assist with this process. Identifying different methods of data collection was complicated, but I used Google search to find all the available methods. Recognizing the suitable information systems for different functional areas of an organization was another task I undertook; however, I did not do this in terms of each individual area.I collected information on the applications used within the administration and researched older systems. Then, I analyzed how the new applications improved things. I also identified the tools necessary for specific jobs within the administration. It was difficult for me to focus on specific jobs that were encountered. Initially, I examined tools and their purposes. Additionally, I considered how the company would function without these tools, which helped me understand the potential challenges and usage of tools in resolving these issues.

Regarding the current information processing methods for a given job, I identified them but failed to connect them to specific jobs. To address this, I contacted the company to inquire about the tasks performed by the systems and how they resolved those tasks. Furthermore, I conducted further research to understand how these systems benefited businesses in general.

When exploring alternative methods of providing the same information,

it was challenging to find alternatives since the existing methods were already effective. To overcome this challenge, I delved deeper into the company's operations and eventually discovered areas for potential improvement.

In terms of ethical considerations, working with people of different languages at Drake Algar was both fulfilling and enriching for me. It provided valuable experience and presented no difficulties.I also observed that the working environment is more welcoming when collaborating with individuals who use different languages for communication. To ensure that I avoid plagiarism in my research, Drake Algar's guidance was extremely helpful. They provided me with numerous relevant documents, but I did not make any copies of them. Additionally, they gave me some financial records of clients and suppliers from the previous year, allowing me to review them. However, I returned all the materials to them and made sure not to copy or print anything from them.

I also referenced and quoted ideas that I obtained from various sources such as books, websites, and general knowledge. To ensure proper citation, I utilized the Harvard citing system, which greatly reduces the risk of plagiarism in my research.

Regarding the topic of a Gantt chart, please refer below to see the unchanged HTML tag and content:

Gantt chart

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