Reference no: EM133490593

Target Market: The target market for this business idea is Vancouver-based jobs related to passing out university students. These jobs include jobs with a college diploma, apprenticeship or training of less than 2 years or more than 6 months of job training. The reason for focusing on this target market is that Vancouver is one of Canada's fastest-growing cities, with a population of over 630,000, making it an attractive market for job seekers. Additionally, Vancouver is home to some of the country's top universities, including the University of British Columbia and Simon Fraser University, which produce a large pool of job seekers.

According to Statistics Canada, British Columbia's unemployment rate was 7.1% in March 2021, which is higher than the national average of 6.7%. However, the unemployment rate in Vancouver was lower than the provincial average at 6.4%. This suggests that there is a demand for job opportunities in Vancouver, and this business idea could help connect job seekers with suitable job opportunities.

Customer Segment: The target customer segment for this business idea is university graduates and individuals who have completed less than two years of training or apprenticeship and are seeking entry-level positions. These individuals may lack experience in their respective fields, making it challenging for them to find suitable jobs. They may also lack the necessary skills to showcase their qualifications to potential employers effectively. This business idea aims to address this gap by providing an assessment of their qualifications and experience, allowing them to make more informed decisions about

their job applications.

Comparing this customer segment to others, university graduates and individuals with less than two years of training or apprenticeship are attractive segments to target. According to a report by the National Centre for Education Statistics, university graduates earn more than high school graduates on average, making them more likely to be in a higher income bracket. Additionally, university graduates are more likely to have access to resources that can help them in their job search, such as career services offered by their university. Therefore, this customer segment is likely to be more willing to invest in an online platform that can help them find suitable job opportunities.

Moreover, individuals with less than two years of training or apprenticeship are also an attractive segment to target. According to a report by the Organisation for Economic Co-operation and Development (OECD), individuals with vocational qualifications have higher employment rates than those without such qualifications (Levin, H. M.,2015). Therefore, this customer segment is likely to be more motivated to invest in an online platform that can help them showcase their qualifications to potential employers.

Question: Describe thre initial costs of this business(to start your business);

Describe the overall monthly cost structure (provide a list of the costs with a short explanation and detailed explanation for those that I can consider as the most important costs and need to plan to spend every month). Consider the first 6 months.