WEEK 6 BUSINESS MODEL CANVASS (BMC)

     I'm back with my new blog. This blog will contain the business model canvass that we made with my team. I will also share with you the whereabouts of each part of the BMC we made. Let me share with you our Business Model Canvass.

    

    Business Model Canvas (BMC) is a proven tool/model used in various settings to help companies, individuals align their activities to what creates value to them. It is a visual chart with 9 different components. Later on, I will share with you my thoughts about the different components as well as giving an example of our business idea.  As a tool, it looks at these nine areas that span across strategy, finance, operations, resources, channels, revenue streams, and cost structure.

    Key Partners. This refers to the partners that we do business with. This includes   Electrician, Electrical and Electronics Engineer, Repair shop Owner, and Investors and Stakeholders

    Key Activities. This involves the main mission as to the existence of the company. These are the activities that give our company the meaning for its existence. Like, providing services that cater to their needs and problems with appliances and electrical-related problems.

    Value Propositions. This involves value delivered to our customers.

  1. Providing quality services that would suffice customer satisfaction.

  2. Providing services that help customer fixed their concerns and problem.

  3. Offers the customer with skillful electrician and technician to fix their problems.

  4. We also offer services for electrical layout in building homes.

  5. Getting the job done within the time in a convenient way for the customer to be less hassle and 

            to ease their burden.

    Customer Relationship. This is the association between the company and its clients. In our business idea though of how to have a long-lasting relationship with the customer is through providing services with trust, safety, reliability, and quality and efficient service provider.

    Customer Segments. This covers areas where our customers are found in the market. Our target markets are those households that are far from the repair shop and people who choose the convenient way for their problem to be solved.

   Key Resources. This refers to the resources that make up our value proposition and which will generate revenue and at the same time reduce costs. The resources aim at improving our customer relationships and in the distribution of products.

  1. Physical Resources  - it involves human strength in repairing appliance and electrical related 

            problem

        2. Human Resources – it provides human service where electrician/technician will cater to their 

            needs

    Channels. These are the channels of distribution used to get to our customers. It involves using the channels that enable us to reach our customers best and in the shortest time. 

    1.  Facebook Page (starting of business)

    2.  Application

    3.  Telephone/Cellphone Number

   Cost structure. This touches on the cost structure of our business and creating value for money. Fixed cost ( Vehicle component and utilities, Tools and equipment rent, and Employee salary) and application development cost.

    Revenue streams. This refers to the income generated from our business. It involves ethical business practices by charging customers fairly.  Fixed pricing ( Service fee, Appliance parts and accessories) and Advertisement fee (Advertising of other repair shops).

    Making BMC gives me an insight on how to make a path with our business idea and it's quite interesting since there will be more changes as we go along with our business idea in the long run.