Honest Jim's Carsales Business Analysis 80 DIL FRE8BUF 30 . 20 IO 12 D ALFAINATOR
100433347, TAYLOR QUINN, BUSINESS ANALYSIS, DUE 31ST DEC 5PM Executive Summary Honest Jim's Carsales has been around for over 45 years as the people's choice for quality used passenger, commercial and utility vehicles. With 3 locations around Victoria and healthy interstate sales we look at the industry in depth to provide knowledge and recommendations for the company's management team. Analysing the business using a SWOT analysis we identified that even though the company has many strengths from being in business for over 45 years the changes to the way business is conducted nowadays with the aid of computers and the internet means Honest Jim's need to be more in touch with other industries including world currency and fuel market fluctuations, environmental trends and also having a good understanding of government taxation laws and incentives. A further analysis of the business's competitors using the Porters 5 Forces method shows us that the largest forces this business needs to contend with are that from fellow competitors who offer the same services and types of vehicles. In addition to alike business they need to contend with new car dealerships trying to offer normally used car buyer's incentives to buy new vehicles by offering low finance rates, cap priced servicing and many other value-add ideas. Ultimately in this industry the customer holds all of the power as to whether a business is able to sell anything comes down to an individual's personal preference. Expanding on figures provided by Honest Jim's we were able to ascertain the highest selling SKU (utility vehicles) which makes up nearly 80% of their gross profits, we were able to pick trends which indicated Saturdays were the days with highest average profit margin on vehicles. We also ask questions of the necessity of trading on Sundays due to low profits and generally high employee costs. Honest Jim's Carsales also wants to create a digital presence, we have provided prototype website which is easy to read and make navigating around it a simple process. We prototyped the idea of adding an online store which Honest Jim's could capitalise on being a business that could sell vehicles 24ff7 365 days of the year. In addition to prototyping a design for the company we have provided so additional ideas that could add the companies competitive advantage in the online space. 1
100433347, TAYLOR QUINN, BUSINESS ANALYSIS, DUE 31ST DEC 5PM EXECUTIVE SUMMARY 1 INTRODUCTION 3 INDUSTRY BACKGROUND 4 BUSINESS MODEL, ENVIRONMENT & VALUE PROPOSITION 5 SWOT ANALYSIS DIAGRAM 6 SWOT ANALYSIS 7 PORTER'S FIVE FORCES ANALYSIS 9 SPREADSHEET TRENDS 11 PROTOTYPE WEBSITE 12 CONCLUSION 15 APPENDIX A. 16 APPENDIX B. 19 BIBLIOGRAPHY 20 2