The market research was done in California which reviews Electronic repair as one of the best kind of business which can be launched. In this type of business, it is easy for an entrepreneur to acquire technical skill from other existing business as well as from technical schools (Rohit, 2013). Electronic repair provide a room for an investor to be in a position to make headway in a competitive business due to increased demand of electronic devices.
Despite of the number of factors which are most likely to be considered in a business electronic repair, success implementation can lead to success especially when better locations such as California are considered (Bassem & Mahdi, 2018). In terms of the population in this place, almost every home and also offices has a variety of electronic which at some point they require to be repaired, thus providing a wide range of population being potential customers for this business. Electronic repair shop also requires a low capital for a startup and is indeed more profitable venture for an investor who is willing to deliver an excellent work for the customers.
This analysis shows the results based on the strength, weaknesses, opportunity and threats of launching an electronic repair shop.
The research show the major strength of operating an electronic repair lies in the power and the ability of the workforce. Hence it requires a highly trained electronic repair engineers and also technicians to offer excellent services. This will enable the entrepreneur to be able to offer adequate and reliable services which meets consumer expectation.
Electronic repair shop may come across some weaknesses which other business are also likely to encounter. One of the major weaknesses is lack of attaining reliable workforce which can meet the available demand for electronic repairs. This weakness stems from the fact that with the digital revolution, the possession of electronics is high, and therefore because much efforts and workforce is required for business who offer repair for this products.
Due to the nature of the market in California, there are various opportunities that can favor the success of this business. For instance, considering the number of people and business enterprises which depend on electronic devices to undertake various activities, the demand for the repair of these gadgets is high and therefore the opportunity need to be explored (Wetherly & Otter, 2011). Although some people have already ventured in this business, they are yet to understand some of the unique ways to satisfy customer demand and therefore it means opportunity for success still exists.
Just like any other business, electronic repair shop is not exception to various threats that exist in the market. In this case, some of the treats that this business is likely to face is competition and economic downturn (Hess, 2011). The business is also likely to face the threat of changes in consumer perceptions because with time, it seems that most of the electronics users prefer replacing their gadgets with new ones instead of having them repaired. This changes will have a negative influence on this business in the fact that it will make it to have few customers who it can serve.
According to Birt (2013), the use of electronics has been growing in the recent years due to the digital revolutions which have been occurring. With the increase in usage of these gadgets, the repair for these products has also been growing, hence creating opportunities for investors who want to venture in these businesses. The demand for repairs has also been pushed by hard economic times that makes the users to refer repairing the gadgets they have instead of purchasing new ones.
In California, there is a potential of electronic repair shop thriving because the population is high and few people offer services that can make them maintain long lasting customer loyalty (Thomas, 2012). Research also indicates that both Individuals and businesses encompass amplified demand for electronics repair services, which has led to raise in the per capita disposable income and also the corporate profit which encourages the consumers to opt for electronics repair and maintenance services.
The result of the market survey and the feasibility study in California bring out the certainty that there is a wide range of individuals and firms who need this service. In view of that, it will be advisable as an upcoming business to come up with the strategies that will help in reaching out to various corporates as well as the individual clients who we can’t afford to do without the services.
Despite the fact that there are loads of big point investors that seem to have a venture in the electrical repair services industry, there is steal room which is big enough to accommodate everyone in the business. Although the opportunity exists, competition exists from both small and big business that offer similar services and therefore it is advisable for organizations that venture in this industry to come up with unique operational strategies (Friederike, 2011). Taking care of the welfare of the customers is one of the unique tactics than can enable the business to thrive irrespective of the competition. Being well informed to take on the available advertises in electronics and repair services I am quite optimistic that it will be best to invest in this kind of the business.
Because the companies that sell new electronic products wants to attract more customers by making them to avoid repairs, they offer some period of guarantees on the gadgets that they sell to their customers (Sunwoo, 2018). This has led to a challenge in the fact that it makes customers to opt for having their products repaired by the company or replaced with a new one for free other than paying those who offer repair services locally.
Regardless of the few challenges that may seem to hinder the success of electronic repair business in California, with proper strategies, it is possible for one to operate a successful business. As an investor, one should ensure that he/she is set to become the number one choice for both corporate and individual clients in the market place through various strategies such as viewing customers as important assets for the business, investing in technology and innovation, and doing extensive research to understand the changes in market trades.
Conclusion
With the digital revolutions that have been occurring, the use of electronics has been growing, and therefore operating a repair business for this gadgets can be one of the ideal businesses which an investor can venture. In California, there are opportunities for this business to thrive because many people refer their gadgets being repaired than incurring the cost of purchasing new ones. As an entrepreneur, one of ways of gaining and also winning over Customers is to offer the best electronic repair services as per their demand and also at a price which are relatively cheaper than those of the competitors
References
Bassem, S & Mahdi, J. (2018). Entrepreneurship Intention Scoring. Journal of Entrepreneurship Education, 21(1), 76-87.
Birt, I. (2013). Writing Your Plan for Small Business Success. Crow’s Nest, N.S.W: Allen & Unwin
Friederike, W. (2011). Contextualizing Entrepreneurship-Conceptual Challenges and Ways Forward. Entrepreneurship: Theory and Practice, 35(1), 23-43.
Hess, E. D. (2011). Growing an Entrepreneurial Business: Concepts and Cases. Stanford, CA: Stanford Business Books
Rohit, T. H. (2013). Entrepreneurship, Its Conceptualization and Teaching in Business Schools: Management Lecturers’ Perspective. South Asian Journal of Management, 20(1), 32-45.
Sunwoo, K. (2018). Domains and Trends of Entrepreneurship Research. Management Review: An International Journal, 13(1), 56-76.
Thomas, F. (2012). Workerless Businesses-An Explosive New Trend: Dancing with the Inner Entrepreneur. Journal of Environmental Health, 75(3), 98-103.
Wetherly, P & Otter, D. (2011). The Business Environment: Themes and Issues. Oxford, England: Oxford University Pres
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