Enterprise Development Project
2nd Year Business
Group 4 Assignment
|Caroline Catterson |L00084152 |
|Bridie Griffith |L00079670 |
|Orla Long |L00082588 |
|Deborah Brougham |L00062741 |
Submission Date: 08/04/2011
Table of Contents
This is where our product differs. Due to the MPT’s ability to use its own integrated PTO shaft and engine we felt there could be an opening in the market for the product.
Primary research was carried out in the form of a questionnaire with carefully designed questions in order to answer the objectives set. With these important points in mind, the questionnaires were circulated among trailer users mainly in the following areas, farmers, local authorities and gardeners. The results and findings of the questionnaire can be seen below in the report.
This Business plan was prepared by Caroline Catterson. Bridie Griffith, Orla Long and Deborah Brougham, second year business students at LYIT.
The purpose of creating a new business plan for the company is to determine if our new product, the Self Tipping Multi Purpose Trailer, would be financially feasible and satisfy the current gap in the market. The idea for the new product came about through market research and customer feedback. Many of the features incorporated in the multipurpose trailer are those which customers voiced they would like to have on their ideal trailer. Because of the adverse changes in our weather conditions and lack of All Terrain Vehicles (ATV) trailers available, the gap exists for this product due to its ability to work in wet, slippery and mountainous terrain.
Business name and contact details
Premech engineering was originally established on 12th June 2005 by Chris Irwin on a part time basis while he was teaching Engineering and Maths at Finn Valley College. Chris obtained a degree in Mechanical Engineering and has previously worked for companies such as Intel and Analog Devices.
Chris Irwin employs his brother Shaun in an engineering and production capacity.
Shaun is a qualified Precision Engineer and had also worked for ABBOT Ireland for 17 years and has represented Ireland for turning on numerous occasions, most notably in the Skills Olympics in Australia in 1986 where he obtained a respectable 5th place overall in the world.
Ownership and location:
Premech Engineering currently operates as a sole trader, being entirely owned by Chris and is centrally located and managed with an office at
44 Dromore Park
The welding and machining work is carried out in a workshop at
(Three phase electricity is available only here)
All assembly work takes place at
• Primary objective of the business at this point is to improve both manufacturing and sales efficiencies and to promote our new product the Multi Purpose Self Tipping Trailer.
• By moving manufacturing to new premises of 4500 sq ft on a ½ acre site, Premech is hoping to combine machining, assembly and...