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Business emphasis Assume that you and two friends are debating whether to open an automotive and service retail chain that will be called Auto-Man. Initially, Auto-Mart will open three stores locally, but the business plan anticipates going nationwide within ti years. Currently, you and your future business partners are debating whether to focus Auto-Mart on a ‘dolt-yourself or do-it-for-me business. A do-it-yourself business emphasizes the sale of retail auto parts that customers will use themselves to repair and service their cars. A dolt-for-me business emphasizes the offering of maintenance and service for customers. In groups of three or four, discuss whether to implement a do-it-yourself or do-it-for-me business emphasis. List the advantages of each emphasis, and arrive at a conclusion as to which emphasis to implement.
Survey of Accounting (Accounting I)
Solutions
Survey of Accounting (Accounting I)
Business emphasis Assume that you and two friends are debating whether to open an automotive and service retail chain that will be called Auto-Man. Initially, Auto-Mart will open three stores locally, but the business plan anticipates going nationwide within ti years.
Currently, you and your future business partners are debating whether to focus Auto-Mart on a ‘dolt-yourself or do-it-for-me business. A do-it-yourself business emphasizes the sale of retail auto parts that customers will use themselves to repair and service their cars. A dolt-for-me business emphasizes the offering of maintenance and service for customers.
In groups of three or four, discuss whether to implement a do-it-yourself or do-it-for-me business emphasis. List the advantages of each emphasis, and arrive at a conclusion as to which emphasis to implement.
Concept introduction:
Do-it-for-me and Do-it-yourself:
Do-it-for-me business means when the other entity take responsibility of handling the work for the company and the do-it-yourself business means when the company or the organisation provides the platform for the services direct to the customers.
To prepare:
The advantages of both do-it-for-me and do-it-yourself type of business and conclude which is the better emphasis to implement.
Explanation of Solution
Do-it-for-me business
By providing the end to end service to the customers, the company can grow its brand value manifolds. The popularity among the customers will also help in generating more profit than the do-it-yourself business as the future growth of any business depends on the interest of the investors and the customers in the company. The do-it-for-me business is the one in which the company earns even after the sale of automotive as they provide services of automotive servicing for which customers pay to the company...
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