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Paul Frankenhauser

May 20, 2018

Royal Private Business Investigator Business Plan

Competitive Analysis

The present market in Boston, Massachusetts is home to more than 30 private investigation firms offering different products and services. Major firms include RCB and Associates, Associated Investigation Limited, API Professional Investigations, Summit Investigations and Digital Investigations. RCB and Associates Limited is a Massachusetts based private detective agency with more than four decades of experience. It majorly focuses on criminal investigation, insurance fraud investigation, private detective services and infidelity investigations. Other products include professional services, legal investigations, security investigations, undercover investigations, web investigations and surveillance investigations (Yellow Pages, 2018).

Founded in 1993, API Private Investigations offers a wide range of products and services such as missing persons, infidelity, child support, surveillance and child custody. Other services include background checks, legal support, corporate investigations, fraud, expert interviews, armed body guard services, death investigations as well as insurance investigations. Summit Investigations, headquartered in Weymouth, Massachusetts, is a private detective agency with more than two decades of experience. Apart from Massachusetts, the company has other branches in Rhode Island, New Hampshire, Florida, Vermont, New York as well as Connecticut. The company offers different products and services like security cameras, surveillance systems, video equipment, proximity readers, night vision systems, background checks, home security systems, private investigations and people searches. Also it offers spousal surveillance, missing person’s investigations, forensic accounting, insurance fraud, pre-tenancy screening, expert witnesses, pre-employment screening, embezzlement investigations and polygraph tests (Yellow Pages, 2018).

Digital Investigation is another leading private investigation agency in Boston, Massachusetts. The firm offers various services such as personal digital investigation services, digital remote monitoring, criminal litigations, mobile digital investigations and business litigations. Also it offers digital forensics litigation services, data and evidence acquisitions, civil litigations, e-discovery, employee monitoring, infidelity investigations, cyber harassment and as well as digital background and physical investigations. Other services are child custody, social networking investigations, computer forensics as well as computer data forensics recovery services (Yellow Pages, 2018).

Differentiation Strategy

Royal Private Investigation agency will employ the best talent in the industry and cultivate its brand around their expertise as well as talent. According to Kaiser and Ringlstetter (2010) largest organizations have succeeded in utilizing expertise services to market themselves, thereby leaving little room for startups to move into the space. For this reason, Royal Private Investigation agency will use expertise as a service differentiator by focusing on two types of consulting-marriage investigation and marital investigation.

Price is another method or means by which the organization will differentiate itself from rivals (Kaiser & Ringlstetter, 2010). Most leading firms enjoy strong client bases and are, therefore, less concerned are price competition. Royal Private Investigation agency will, undoubtedly, attract price sensitive clients who cannot afford the fees charged by bigger organizations by charging lower prices for high quality services.

Superior tools and services are some of the greatest opportunities available for service differentiation. True differentiation dictates the actual offering should be different from the competitors offering, and the implementation of superior processes and advanced tools may provide the difference (Kaiser & Ringlstetter, 2010). With this in mind, Royal Private Investigation agency will offer its clients better value proposition through faster timeline, more actionable recommendations and deeper insights.

Risk Assessment

The company will face stiff competition from big and established companies. As a result, customers may have strong bargaining power. This is another risk that may affect Royal Private Investigation agency. In particular, customers will look for the best value service at the minimum fee. Furthermore, the threat of new entrants is very high because of a favorable industrial growth. According to IBIS World (2017) there are at least 24,438 private investigation businesses in the United States offering general investigation services to citizens and corporation. In 2016, the private detective industry realized revenue of 6 billion United States dollars. The industry is expected to experience tremendous growth up to the year 2021. This is because the demand for private investigation services is expected to continue growing. The sustained revenue plus profitability growth is expected to attract new entrants into the industry.

Strategic Position

Royal Private Investigation agency’s objective is to become the most renowned investigative company in the entire state of Massachusetts among its competitors. To achieve the objective, the organization has developed a strategic position which: focuses on specific areas rather than offering a variety of services. In particular, the agency will offer marital investigations and background investigations. This strategic position is anchored on an evaluation of various factors like industry analysis, target market, the competitive environment, the company’s strength and risks. With regards to marital status, Maxted (2008) asserts that infidelity the leading cause of divorce around the world and individuals cheat on their spouses not bearing in mind the consequences of their actions. This is where Royal Private Investigation agency’s come in handy; it will help spouses who have some doubts about their partners to unearth the truth about their fears.

Value Proposition

Proper investigation and security is like insurance and premium should reflect the risk. The main difference is that whereas insurance is usually reactive to loss, investigative service is both proactive and reactive depending with the task. Also, insurance cannot replace lost health, time as well as life. Nonetheless, there must be a trade-off between any risk and cost. Royal Private Investigation agency approaches each task with this in mind. It tailors its services to clients’ needs as well as desired results and only charges what is offered. Also, Royal Private Investigation Agency’s boasts of the most experienced and highly trained personnel in the industry who provide superior detection deliverables at reasonable costs. The agency’s executive team has undergone extensive background checks, extensive training and security clearance. Furthermore, the executive team has real world experience in addition to holding highest standards in their career.

SWOT Analysis

It is advisable to conduct an environmental analysis-both internal and external-to determine the major factors that may affect an organization. The internal environment is the assessment of an organization’s strength and weaknesses. The external environment, on the other hand, focuses on the opportunities and threats (Kotler & Armstrong, 2010)

Strengths

Royal Private Investigation agency strength is anchored on its ability to offer a limited range of investigative services- background investigations and marital investigation. This implies that the organization can merge its financial and human resources for better service delivery. Secondly, the company boasts of a highly experienced team and ability to sell its services online. Moreover, the company has a highly visible website.

Weaknesses

Given that Royal Private Investigation is a new start up there is lack of experience. Also, the organization cannot provide a wide range of services because of lack of enough capital.

Opportunities

The industry is expected to continue growing up to 2021. Infidelity detective is a booming business because of the increasing rate of infidelity in the world. Public investigation agencies do not handle minor cases because of lack of personnel and time and this may become a suitable market for the organization

Threats

The private investigative industry is characterized by many firms some of which are more established and have more financial resources. Changes in legislation may also affect the private business industry. Major competitors offer a wide range of services which may affect the organization

Marketing Message and Marketing Vehicles

Royal Private Investigation agency is the home on time delivery of accurate, efficient as well as cost-effective private investigations Royal Private Investigation agency will use different strategies to drive its marketing messages. These include: first, a search engine optimized website with relevant content, descriptions as well as Meta tags. Secondly, the company will form alliances with other like-minded private investigators. Also, it will make partner with different attorneys and use testimonials for marketing purposes.

Possible Risks and Mitigating Measures

From the internal perspective, problems may arise in the course of compliance activities like conformance reviews and corporate surveillance activity. Secondly, problems may be signaled by a regulatory enforcement agency concerning allegations against one of the organization’s employees that signal a broader risk. Customer complaints can also be a major risk for the organization.

The organization’s counsel will always be on the look out to identify the potential risks and take appropriate measures to prevent any risk from taking root, which may distract the organization from its core business. If a serious customer complaint that cannot be contained is identified, the company will gather and analyze facts to identify the root cause of the problem.

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