A structured Busniess Plan for a Real Estate Agency in Malta Chapter-1

The main goal of this family-run business is to capitalize on market opportunities and expand its operations on a larger scale. The current business plan focuses on offering rental housing to locals and tourists in Malta, a strategy seen as the most viable for business development. In particular, young people in Malta are increasingly seeking rental homes for various reasons such as independence from their parents, education, and other personal circumstances. By catering to this demand, Simon Mamo Real Estate can effectively enhance its growth and profitability within the Maltese market (Adonis and Kabanda, 2019).

Rationale for the business idea

The project into consideration is based on developing a structured business plan for a Real Estate Agency in Malta, therefore, the scope of study is wide as this exploration is efficacious in developing the knowledge level of an individual in respect to the area of developing new business plans that are credibility effective in enhancing the opportunities for the business at global level (Mbazia and Djelassi, 2019). The plan of expanding business in Malta is effective as it is a developed country which is significantly concern over enhancing their economic condition via providing opportunities to the business to enhance their operations and functions. The idea is effective and new, as it is effectual for the people who are seeking for rental houses and also considering a comfortable living. This study has importance in developing personal as well as professional ability of an individual, which would be effective for them in attempting their future projects in more effective manner (Alakhal, 2018). The another key reason behind the idea is to facilitating beneficial services to the people in Malta who are seeking for rental houses. Therefore, it is not possible for each people to afford house, so it will be the best option for them to live a comfortable life with all the luxury requirements. This present study is effectual for a learner and individual to enhance their ability of developing plan for business growth, thus this study is beneficial for the individual who are willing to know about the benefits of rental houses and the individual who wants to develop plans like this for their professional development (McAdam, Miller and McSorley, 2019).

Scenario Chosen

The present exploration is based on the idea of venturing rental house facilities for the local as well as outsider people in Malta. Simon Mamo, is a well reputed real estate business in Malta and based on providing residential and commercial facilities to the people. This idea is beneficial for Simon Mamo in enhancing operations within Malta and developing growth opportunities (McCormack, Keay and Brown, 2017). As per the idea company is facilitating luxury, medium and classic rental house facilities to the people who are interested and company is also offering facilities to the visitors and tourists who are seeking for long living in the city. Simon Mamo has also facilitating services to the students, people who are visiting Malta for job purposes (Almeida, Costa and da Silva, 2017). The company is offering their facilities through internet sources, thus it is easy for the customers to find best location for their rental houses. Simon Mamo has providing rental house facilities which are based on written aggrievement as the company firstly has made an agreement in which duration of living and the rent of the house is mentioned with the personal details of tenants. This is a best and secure way for both company and customers to gain facilities from the company (Alola and Alola, 2019). The company is mainly targeting to the youngsters as in Malts people are mainly seeking for rental houses for the purpose of separation from parents, eduction purposes, businesses aspects etc. Therefore, youngsters are also based on digital media, so the growth opportunities for the business is high as people are getting best and comfortable facilities through online sources.

Clear aims and objectives

This refers as the most imperative part of an investigation which determined the major purpose of conducting the investigation. This refers as the predetermined statement which defines the intention of conducting the research in a clear and concise statement (Alola, 2019). In addition to this, research objectives are interlinked with the aim of investigation and clearly defining the variables that are significant for the work. The clear aim and objectives of this present investigation are associated as below:

Research Aim

To develop a structured business plan for a Real Estate Agency in Malta. A study on Simon Mamo Real Estate business.

Research Objectives 

The key objectives of this particular plan are associated as under:

• To developing the understanding regarding the Real Estate business in Malta.
• To Investigate the growth opportunities for Real Estate business in Malta.
• To analyse the suitability of venturing rental houses for the success of Real Estate business in Malta.

Research Questions

The suitable question of this particular investigation are described as under:

• What is Real Estate business in Malta?
• What is the growth opportunities for Real Estate business in Malta?
• What is the suitability of venturing rental houses for the success of Real Estate business in Malta?

Structure of the Project

This area present the definite data in regards to the quantity of areas include with the present report, the data that each segment required alongside the reason behind referencing it (AM, 2016). The segments that are included inside the report is described as below:

Introduction: This is the primary segment of task which contains the portrayal with respect to the business development plan of a real estate business that is intending to grow set up its business in Malta. It contains insight regarding the idea of business development, the reason for conducting the present analysis. However, in this section aim and objectives are implemented to support the work via providing them suitable assistance. Along with this, background of the subject area covers the significant idea as in this proper detailed regarding business development plan is explained. 

Literature Review:- Under this area the secondary information will be assessed so as to learn about the present market circumstance of the Malta in term of real estate business (Amelung, 2019). This part of investigation is effective in developing in-depth analysis which is supportive in developing the understanding of the researcher and learner in regards to the chosen subject area. Therefore, this section of investigation is relay upon secondary source, thus in this information accumulation is based on books, published and non-published articles, journals, newspapers etc. In the context of present investigation work, marketing mix, Segmentation, target, positioning along with business model are described in detailed manner.

Research Methodology:- This segment is likewise exceptionally fundamental so as to proceed just as present the data assembled through examination in progressively viable way (Arif and et. al., 2019). It incorporates set of methodologies and systems that supports in effective execution of study over Malta in proper manner. This incorporates study regarding the implementation of suitable methodologies, tools, concepts, theories, feasibility research etc. Thus this section of research is effective in assisting the overall work in right manner to reaching at the potential results and outcome. 

Data Analysis:- Under this area an appropriate analysis is executed over the information which are gathered by the researcher to assist the work, thus under this, analysis is being executed to developing the comprehension regarding the industrial and market situation (Arnold and et. al., 2016). For this the reasonable introduction of result will be there with the assistance of proper analysation of market feasibility, strategic feasibility and operational feasibility, thus these are effective in analysis of accurate data about the market in which the plan regarding the development of Real Estate Agency in Malta has taken place.

Discussion, Conclusion and Recommendations:- This is the last and most critical area of the business development plan, which incorporates a detailed evaluation about the information which is assembled through business plan which scheduled appropriate detailed about the rising capital, setting of key events, required resources etc. In addition to this, in this section of investigation appropriate discussion has been provided regarding the concepts, issues and the limitations of the research (Ayman, Alwan and McIntyre, 2019). However, in this section proper recommendations has been provided over the findings of the research. Therefore, recommendations are effective in making suitable improvements in the projects and its implementation plan (Baldacchino, Vella and Grima, 2019).

Chapter 2: Literature Review

This is the most imperative area of an investigation as it is effective in providing detailed analysis over the chosen subject area, thus in the context of present exploration, this part of business development plan provides an effective understanding regarding the growth of real estate business in Malta (McGurk, 2019). However, this section covers the appropriate information regarding the real estate industry and the potential business idea which is significant for achieving growth within Malta. This area of investigation is based on secondary study as in this information is mainly accumulated through secondary sources like, books, journals, published research articles, non published investigations etc. In addition to this, suitable implementation of models and theories are done is develop the understanding of the researcher and learner towards the growth of Real Estate business in Malta (Barker, 2019).

Business Review

The study aim to develop a structured business plan for a Real Estate Agency in Malta, therefore, in this particular exploration work, overall study is based on Simon Mamo Real Estate business, as it is a popular existing real estate business which is operating in Malta. The idea of business is mainly incorporates over providing rental house facilities to the domestic as well as international people for improvising their living (Mercieca, 2012). According to the views stated by Kimberly Amadeo, 2019, Real estate is defined as the property, buildings, lands, underground rights below the land and air right above the land. Real estate business is mainly encompasses over different aspects i.e. residential real estate, industrial real estate, commercial real estate, land etc. Malta refers as an archipelago in the central Mediterranean among Sicily or the North African Coast. This nation is mainly known for its historic sites that are connected to a succession of ruler involving the Moors, Romans, Knights of Saint John, British and French (Basile and Filoso, 2018). Therefore, Malta is mainly popular for its historic sites. Alice Wilton, 2019, stated that, over the past few decades, Malts has made headlines around the globe for its rapid growth of real estate business, thus it has been analysed that Malta is a most suitable area of developing a real estate business plan, thus the growth of real estate business in Malts is high. In the mid of 2018, the real estate property in Malta has increased in around 16.9 percent which is a high increase in the real estate business. Malta has reached at the 3rd position in the year of 2016 from the 20th in the 2015, this the effective track record implements real estate in Malta as one of the best investment in Europe. The rough evaluation stated that the price appreciations is not as considered because the government has transformed the legislation which create it effective and easy to buy houses and property or bank's began to providing easy credit in Malts. Therefore, the price appreciation for real estate in Malts is almost definitely just because of the economic development has taken places through the job creation and some essential aspect of speculation (Bifulco, 2019). The growth opportunities for real estate business in Malts is high as there is a rapid growth has arises in the real estate industry of Malts. Thus, Maria De Guzman, 2019, stated that, the house prices in Malta are rising at rapid basis with a increasing development of around 10.83 percent during the earlier year of 2019. Therefore, the property prices has rose through 4.72 percent during the end quarter of 2019. Although, the prices of property has increased at continuous basis, thus the prices of apartments is rose through 11.02 percent on average in the year of 2019 and the prices of terrace house is also enhanced in around 15.34 percent. In addition to this, the prices of Maisonettes has rose by 7.82 percent and the prices of other houses involving town-houses, houses of character and villas etc. has also experienced the highest increase in around 15.96 percent during the starting quarter of 2019. However, the suitability of venturing rental houses for the success of Real Estate business in Malta, is high, as individual's in Malta are seeking for investing in real estate as to gaining higher growth and success (Bonello, 2019). Rental prices range in Malts was around €500 to €1,000 per month for the properties which can be recognised as being economical in the situation when the rents vary among €1,500 and €3,500 for taking benefits of up market accommodation facilities. In addition to this, for the purpose of gaining most luxury accommodation the prices are around €4,000 and €12,000 per month (What you need to know about Real Estate in Malta). As per the analysis it has been identified that, the idea of venturing rental house in Malts is effective, thus it will provide higher growth opportunities to the business in Malts. Simon Mamo Real Estate business is a already well established business in Malta and the idea for venturing rental houses in effective for Simon Mamo, thus it is a new and unique idea which will provide higher growth opportunities to real estate business in Malts (Borroni and Rossi, 2019).

Business idea explained in details

The idea is based on structuring a business plan for a Real Estate Agency in Malta. Therefore, the present idea incorporates over venturing rental houses in Malts. Thus, the idea is suitable for the growth of Simon Mamo (Brandl and Ibsen, 2019). However, the business has plan to develop rental houses for providing effective accommodation facilities to the local as well as the individual who are visiting Malta for different purposes like tourism, education, business, job etc. The idea of venturing rental house involves the plan of constructing buildings, in which well furnished flats are structured to provide effective rental facilities to the people who are seeking for good accommodation. These buildings and houses are only constructed for giving rental facilities and these are not relay on selling purposes. This is the most appropriate way of gaining rapid benefit in terms of rent (Calleja Urry, 2019). The special feature of the rental houses of Simon Mamo Real Estate business are associated as below:

Outlook of the house or Buildings:

The above mentioned pictures explains the outlook of the building, bungalows and villas thus these type of houses are effective in providing accommodation facilities to wider population (Camilleri and Falzon, 2013). Thus, Simon Mamo has planned to construct a building in which around 20 floors the constructed and on each floor around 5 flats are constructed to provide effective and comfortable accommodation facilities.

Location of the House:

The location of the property is near and in within the city area of Malts, thus, the idea of constructing rental house in city is effective as people who are staying in Malta for job or education purpose are preferring house facilities in city areas (Camilleri, 2019). Although, people who are having their own house in the backward area of Malta are seeking for rent facilities in City area. Therefore, in choosing accommodation facility individual are very much concern about the location, so the plan is to construct the house among the city location is best for the growth of real business in Malta (Carvalho and et. al., 2019).

Ambiance of the Rental Houses:

The Simon Mamo has planned to provide economic as well as luxury house facilities to people, thus they have planned to build an attractive and effectively featured house or flats (Cassar and et. al., 2013). The detailed of the house ambience of the rental flats are described via the help of images. The firm is majorly concern over providing highly furnished room, kitchen and sitting facilities. Furthermore, they are also planned to providing parking facilities to the people.

Facilities of the House:

The company Simon Mamo has featured there facilities in lower class, middle class and upper middle class, thus the company has facilities services as per the need and status of the person. The company has planned to provide 1BHK, 2BHK and 3BHK flats and company has also provide rental houses in which villas, bungalow, double and single storey houses are available. Simon Mamo has planned to provide well furnished houses which are ready to shift as company is concern over improvising the living of people in Malts (Castello and Ozawa, 2014). Company has provide, water, electricity, parking, lift and other required facilities to the people. The company is operated through their office and also provide online facilities as the company has launched a mobile application which is supportive for the firm and customers to check sites and making their booking effectively (Metaxas and Koulouriotis, 2019).

Marketing mix analysis

Marketing mix is the centre model for business growth, therefore, it defined as the set of marketing tools that the businesses applied to pursue its marketing objectives in the target market, thus it incorporates around product, prices, place and promotion (Chletsos and Saiti, 2019). This model is effective for Simon Mamo Real estate business in analysing the suitability of the plan related with rental house facilities in Malts for a specified consumer base (Michael, Reisinger and Hayes, 2019). The aspects of this model are effective in defining the featured services of the firm, thus the proper explanation is associated as below: 

Product: This is the most important aspect of marketing mix, thus it in consist over what a business is selling, it can be a tangible good or an intangible service a business perform (Cihak and et. al., 2012). The Simon Mamo Real Estate business is a well reputed business in Malta, thus the company has planned to providing rental house facilities to the people in Malta, in which the product specification of Simon Mamo is incorporates over flats, bungalows, villas, double and single story houses etc. However, the firm is concern over providing highly structured and furnished ready to shift houses in Malta for making their living more effective and reliable (Claessens, Mody and Vallee, 2012).

Price: This defines a specific cost to buy a product or service. The price is mainly based on the perceived value of the product and it can influence the marketing strategy of a business. The offerings of Simon Mamo is based on economic and premium pricing, thus the company charge for the rental houses as per the features and quality of the offerings. However, company has planned to develop house facilities for lower, middle and upper middle class people. Thus the company charge according to the location and the asking facilities of the firm according to the size in BHK and the quality of offerings (Cooley and Heathershaw, 2017). 

Place: This refers as the any physical location where the buyers can access to making their purchase. Thus, In the context of Simon Mamo, the company mainly operates from its headquarter or the online mobile application. Thus the company making deals through mobile application and sign agreements through physical presence (Coste and et. al., 2019). Therefore, the customers can visit to the offices and making their services more effective via analysing the overall detailed regarding the rental house facilities.

Promotion: This defined as any strategy or tool that a firm uses to market its products and services including, direct marketing, advertising, public relation and content marketing (Cremona, 2011). For promoting the new idea of rental house advertising from word of mouth and social media is effective for Simon Mamo is developing its revenue via grabbing the attention of more and more customers.

These elements are effective in constituting the product, price, place and promotion of the firm and render a framework for conceptualizing the marketing strategy for a new idea (Dalli Gonzi and et. al., 2019).

Segmentation, Target Market, Positioning

Marketing is defined as an essential aspect for the growth and development of a new business, thus it mainly helps the firm developing awareness among the customers in regards to the offerings of the firm (Darmanin, 2019). Hence, for the purpose of making success a new business idea, market feasibility is essential in assisting the businesses to analyse the potential market where the growth of business is high. For executing effective marketing feasibility, STP model is effective, as it mainly consist over segmenting, targeting and positioning which helps a business in analysing the offerings and the way of reflecting its benefits and values to the specific group of population (De Haas and Höflmayr, 2019). In the context of Simon Mamo, STP is effectual in conducting feasibility research to reaching at the potential market where the growth of providing rental house facility is high. The three key aspect of this model are associated as under:

Segmenting: Segmentation refers as the process of categorising the marketing into smaller aspects in which individual's are belongs from similar needs and characteristics. The segmentation of market is incorporated over demographic, geographic, Psycho-graphic and behavioural aspects (Derlén and Lindholm, 2018). In the context of Simon Mamo, the segmentation of the business idea is based upon demographic and geographic basis, thus the company is segmenting their customers at demographic and geographic basis. 

Targeting: This comes after segmenting the market, thus in this individual's, groups and segments are select for targeting a specified population where the interest regarding a product or service is high, Thus targeting is mainly based on size of the population, difference, money and accessibility. In the case of the idea of rental house for Simon Mamo in Malta, the major targeted customers are the people who are visiting Malta for different reasons like education, job, business etc. The company is mainly featuring services to the people who are interested to taking rental house services for long as well as short term purposes (Douglas and James, 2014).

Positioning: This is the last aspect for effectively conducting market feasibility, thus it means to the position in the market which is offering in the minds of target customers. In order to gaining better position in the market of Malta, Simon Mamo will use advertising methods through social media, as it is the most effective way of creating awareness among the people around the world, Therefore, social media includes Facebook, Twitter, Instagram, YouTube etc. Thus the use of these tool in daily life is high, so it will work for the firm in effectively positioning their products and services (Džankić, 2019).

This model is effective in positively analysing the market where the growth and success of new idea related with rental house facilities in Malts is effective, Thus, the growth opportunity of real estate business in Malta is high (Mifsud, 2013).

Thorough knowledge and comprehension of the industry

In the respect to conducting proper industrial analysis for Simon Mamo Real Estate business in Malta, porters five force model is effective. Thus, this model is effective in analysing the competition of business (Eimermann and et. al., 2017). It basically develops through industrial business economics to derive five forces that analyse the competitive intensity and, therefore, the attractiveness of an industry in terms of its profitability (Mifsud, Pomponi and Moncaster, 2020). Porter's five force model is effective in analysing the available competition intensity, attractiveness and profitability of an industry, thus this model is based on five aspects which are associated as under:

Competitive Rivalry: This is an effective aspect of industrial analysis, thus, in the context of business it is important for the businesses to analysing available competition within market in respect to executing an appropriate strategy to gain growth and success (Evers, Cunningham and Hoholm, 2014). In Malta, the level of competition is real estate business is high because of the increasing growth of real estate business. The potential motive of Simon Mamo is analyse the available competition in the market and develop suitable strategy to enhance their revenue and profitability (Nhlengethwa, 2018).

Threat of new Entrance: In the market of Malta, the threat of new entry is relatively high in real estate business, because of the rapid development in the real estate organisations. Therefore, the businesses in Malta are mainly operating for the purpose of generating more revenue and profitability (Farkas, 2016). The major reason for developing a business in Malta is that, the growth rate of real estate business in Malta is high, thus from the past few decades country has attained a huge economic growth by the the development of real estate business, so the idea of providing rental house facility in Malta is effective.

Threat of Substitute: Malts is a most tourism attraction place, where people come from diversified areas, Thus people are visiting Malta for different purposes like education, business, job etc. In the context of real estate business, the threat of substitute is high as in Malta the growth of real estate business is high so the threat of substitute for Simon Mamo is high, therefore, company is facing the high threat of substitute (Featherstone and Kazamias, 2014). 

Bargaining power of suppliers: This is the most important aspect of industrial analysis, therefore, in Malta real estate business is attaining a rapid growth which represents the favourable bargaining power of suppliers. However, in the real estate business there are different suppliers like land seller, building material, home furnishing manufacturer, capital providers and constructions contractors etc. so the bargaining power of suppliers in real estate business is high, which in terms in creating benefits in developing the profitability of the firm (Fessler, Lindner and Segalla, 2014).

Bargaining power of buyers: Buyers are the object of products and services. They could be individuals, families, organizations and government departments. So it is foundational and prerequisite for the success of business to explore the bargaining intention of buyers and to determine their purchase behaviour and characteristics (Franceschini, Galetto and Maisano, 2019). In the context of real estate business, the bargaining power of buyers is low as the in the context of rental houses the rate of rent is fixed so there is not bargaining has actually happens. 

Understanding of relevant concepts and theories about the business model

The present business development plan is based on providing rental house facilities to the people in Malta and become the most popular real estate business with higher growth opportunity (Frongillo, 2016). The existing idea is relay upon developing growth opportunities for real estate business in Malts, thus this is the best place to implement the plan of featuring rental house facilities for the benefit of people who are visiting Malta for their own purposes like education, business, job and travelling etc. From the analysis of Malta population, it has been seen that, in Malta, youngsters are preferring to leave their parents and live individually, so the idea of rental house will gain growth as the range of preferring rental house in Malta is high (Fuller, 2019). For betterment of organisation it is required for Simon Mamo to implement effective business strategy which is suitable for the growth and success of the business. The company is concern over implementing the strategy of cost leadership as the plan of rental house is unique, so this will gain higher profitability.

Business model canvas

The key mission of the Simon Mamo is to venturing effective rental house facilities for the customers and enhancing the profitability of the business in Malta. The scope of idea is wide in Malta as the growth of real estate business in Malta is increases at rapid basis, so the opportunities for real estate business is high (Girmachew, 2019). The key partner of the firm are the domestic level constructors, brokers and the businesses which are operating in real estate. Thus, these partner are effective in providing support the operations of the business and assist the activities in right manner. The key activities that are operated by Simon Mamo are the company is providing 24.7 facilities which the help of its mobile application, The agreement system and the company is hiring skilled and talented employees who are able to approaching the idea at wider level to enhance the profitability for the firm (Grech and Camilleri, 2017). The value proposition of the idea is that, company is providing well furnished houses that are based on ready to shift aspects. In addition to this company is developing good relationship with customers at global level via the help of using appropriate social media tools. Furthermore, company is making deals in their offices with the legal support of agreement (Gregory, 2017). The company mainly targeted to the domestic and the internation people, thus Malta is a famous for its historic beauty so the range of visitors are high, thus the company is offering facilities to the people for long and short term purposes. For effectively implementation of business plan, Simon Mamo needs suitable human, financial and marketing resources, thus the integration of these resources are effective for the firm in suitable execution of business plan (Grescoe, 2019). At the beginning of the plan company should apply fixed cost method for the purpose of generating more revenue as the idea is unique and new, which will providing suitable benefits and convince to the people who are seeking for rental houses.

Summary and clear understanding of principal issues relevant to topic

The business development plan into consideration is based on enhancing real estate business opportunities in Malta via venturing renal house facilities, thus in the implementation of a business plan into actual action, number of issues are arises like availability of funds, suitable integration of resources, time constrains, loyalty of customers etc. Thus these are the major issues which affects the overall plan in adverse manner (Grixti, 2013). However, this is a broad idea which needs a huge investment, so the business needs to manage appropriate funds and capital to execute the plan in actual action. The business also needs to manage appropriate resources in which human resources and other business assets are involve to execute the plan in actual consideration. In addition to this, Simon Mamo has faces the issue regarding the availability of time, thus for better execution of the idea related with real estate business, company needs time for venturing effective housing facilities to provide effective and comfortable option to the customers (Guide, 2017). However, long time duration affects the financial aspects of business, which may in turns in loss and downfall of revenue, so this might be considered by the business while executing new business development plan.

Chapter 3: Research Methodology

Research mainly defines as the broad and systematic aggregation of information and its evaluation for advancement of knowledge in a specified area. Thus, research is an academic writing which needs to be implemented in technical sense (Guide, 2018). However, research methodology refers as a scientific process or tools that is implemented to identify, select, process and evaluate the data in relation to a specified area. This section of investigation performs a vial role in assisting the overall work based on the area of developing business plan for a Real Estate Agency in Malta, in right manner through making suitable selection of methodologies, Therefore, this section is mainly in-consist over multiple applications that are significantly supportive in assisting the work towards reaching at the potential results (Guide, 2019).

Appropriate model for strategic analysis

Strategic analysis refers as an effective procedure which involves researching a businesses work place environment within which it operates and execute the operations. In addition to this, it is important aspect which supports in formulating strategic planning for decision making and smooth working of that business (Güven, 2018). Therefore, strategic analysis is effective for executing appropriate market feasibility study for Simon Mamo Real Estate Business in Malta. SWOT analysis is effective tool for conducting appropriate strategic analysis for Simon Mamo real estate business, SWOT is a vert effective and useful model for the development of real estate business, therefore, it incorporates over internal as well as external analysis, thus the descriptive analysis of SWOT is associated as under:

Strength:This is the key aspect of internal analysis, thus the key strength of Simon Mamo real estate business in Malta is that the company is having good reputation in market and has high market share, which provides significant benefit to the firm in exploring new ideas and opportunities (Gwin, 2004). Malta is a major tourist attraction place where are demand of accommodation is high, thus it represents the growth of real estate business in Malta. The another strength of the firm is that, they are having an effective and proactive real estate team which provides support in expansion of new idea of venturing rental houses in more viable manner (Hassan, 2019).

Weakness:This is also another key aspect of internal analysis, thus it supports in finalising the negative aspect that affects the internal growth of the business. Simon Mamo is a well established business in Malta and operating on a high extent to attain growth and profitability, but the major weakness of Simon Mamo is the high level of resistance and adaptability to change, thus Malts is a small population area of European Union, where individual are resist of adopting change, so that issue may affects the growth of new idea related with venturing renal house in Malta (Hirt, 2015). Absence of organizational policies, thus Simon Mamo is operating in Malts only so the company is operating with its own business policies and not concern about following the governmental norms, so this also restrict the growth and success of idea (Hall, 2019).

Opportunity:This refers as the key aspect of external analysis, thus it recognised as the strength of the business. There has been a rapid development in the number of internet users all around the globe (Holden, 2016). Thus it reflects as the opportunity for Simon Mamo real estate business is to expand their presence online through applying the internet sources to interact with its customers at global level. Rented Property is the another reason for the growth of venturing rental house in Malts, thus as per the analysis it has been stated that, most of the younger population in Malta are seeking towards rental houses and the plan will be effective for enhancing grwoth opportunity for Simon Mamo in Malta (Horodnic and Williams, 2019).

Threat:This is a negative aspect of external analysis, thus this recognised as the weakness of the business and affects the functioning is adverse manner. Malta is a popular country for its historic attractions and the growth of real estate business is high, so the major threat for Simon Mamo is the increasing competition, thus the growth of real estate in Malts is high so the company is facing the issue of increasing competition (Hosseini and et. al., 2018.). The bargaining power of suppliers has enhanced over the past few years with the downfall in the number of suppliers. This means that the costs of inputs could enhance for Simon Mamo real estate business in Malta.

The clear aims and objectives

Research aim refers as the intention of an aspirations of a particular study, thus it represents in the single statement which clearly and consciously state the intention of conducting an exploration (Hutchison, N. and Camilleri, D., 2015). Therefore, research objectives are interlinked with the aim of the investigation and helps in determining the intention of work in small sub statements. Thus, this section of research is effective in assisting the overall work in right manner to reaching at the potential results (Hren, 2019). The key aim and objectives of this executing project is "To develop a structured business plan for a Real Estate Agency in Malta. A study on Simon Mamo Real Estate business". Therefore, the present aim is signifies the opportunity enhancement of business in the indsustry of real estate in Malta.

The key objectives of this particular plan are associated as under:

• To developing the understanding regarding the Real Estate business in Malta.
• To Investigate the growth opportunities for Real Estate business in Malta.
• To analyse the suitability of venturing rental houses for the success of Real Estate business in Malta.

Selection of appropriate research methodology

In the implementation of an investigation work, the primary obligation of an investigator is to select the most appropriate methodologies that are significant for a new plan to reaching at the suitable results, thus appropriate selection of methodologies are mainly relay upon the researcher, thus the investigator making appropriate selection of methodologies that are in-consist over the information revenant to the study (Hngaramo and Sabatino, 2011). The investigation methods are mainly defines to the aggregation of effectual tools, strategies and processes which are applied in an investigation for the reason of gathering information and evidence that can be evaluate for determining the factors that are significant in developing a business plan, Thus the methods of investigation is based on qualitative and quantitative aspects and the description of the methods are associated as below:

Qualitative Research Methods: This is the imperative source of an investigation which defines as the scientific tool of observation in which information is mainly accumulated through considering human perception, therefore, this sort is mainly based on theoretical means (Ingves and Hedenskog, 2018). In addition to this, qualitative research is encompasses over non-numerical data that make it effective to represent the views in front of others in more effective manner. Thus this source is effective in developing the theoretical understanding of an investigator or learner in regards to a specified area (Jakubčinová, 2019).

Quantitative Research Methods: This is the another important aspect of research, as it mainly in-corporates over gathering numerical information that are effectively measured through statistical evaluation tools. Furthermore, it is mainly refers as a systematic analysis of phenomenon in which information is gathered via quantifying the information and addressing the statistical, computational and mathematical tools (Khan and Siddiqui, 2019). This tool is effective in representing the accuracy of the information is effective manner.

However, In the context of this present business development plan related with the growth of real estate business in Malta, mixed research approach is being applied, as in this both qualitative and quantitative aspects are involved to support the work in right manner (Kirshner, 2018). Therefore, mixed method is effective in providing theoretical and statistical data, that is efficacious for the business development plan to moving ahead in right direction and suitable results can be attained. 

Research Philosophy: This is the most effective aspect of methodology as it is significantly relay upon two methods i.e. positivism and Interpretivisim philosophy. Under Interpretivisim philosophy, investigator interpret elements of research study with the support of human perception and opinion, therefore, it also integrated interest towards study (Kostagiolas and Asonitis, 2011). On the other side Positivism philosophy is based on the quantifiable observation that leads towards the statistical analysis. Under this, actions of people can described through social norms that can exposed socialisation. In the context of present investigation work, Interpretivisim philosophy is being applied by the researcher as it is most effective tool for mixed method and suitable in providing information that are based on original facts and human perception (Kuleli and Kaarlep, 2017). 

Data Collection Tools: In respect to analysing the feasibility of business development plan, it is essential for real estate business to gather information from assorted sources for assisting the work in right manner, Thus, This section of research is mainly encompasses over two methods i.e. primary and secondary source of information aggregation tools (Laužikas and et. al., 2015). The description of this tools are associated as under:

Primary source of data Collection: It is fundamentally refers to the kind of information assortment where the data is accumulated for the first time and not yet been accumulated by some other individual previously. Thus, this sort is effective in gathering information on a specific research area (Laxminarayan and et. al., 2013). The primary data is for the most part accumulated from the sources like questionnaire, interview, experiments and focus group and so on, therefore, primary investigation support in accumulating the new or current data by having an immediate communication with the population so most exact data can be assembled (Lewrick and Giorgio, 2019).

Secondary source of data Collection: It is consider as another kind of information assortment technique where the data is accumulated through the investigations that are already being analysed. Therefore, in this section information is mainly gathered from past experience and investigations that are similar in the nature with a specified work (Lorenz, 2019). This is principally perform to build up a comprehension in regards to a specific subject and getting a heading over which the data is being performed. There are a few sources through which secondary information is gathered, for example, books, article, journals, books, magazines and so forth (Louro and Campos, 2018). These sources are increasingly valuable for introducing the examination as it help in giving an inside and out and detailed data about the territory of study from the recently performed exploration.

In the case of this present investigation, information accumulation is mainly relay upon secondary sources, therefore, this tool is significant in providing detailed information as the present study is based on business development plan and in this suitable theoretical framework is essential to assist the work in right manner (Lust, Huber and Junne, 2019). Secondary research is effective in providing suitable information with the support of using appropriate articles, books, journals and non published articles that are based on business development plan. The idea of venturing rental house facilities in Malta needs detailed theoretical framework, for providing descriptive detailed regarding the success of plan. Hence, secondary investigation is also effective in developing the understanding of the leaner and researcher in regards to the chosen subject area (Macias, 2019).

Clear understanding of research limitations

An investigation is mainly executed to developing understanding in regards to a specified area, thus the present exploration is based on developing a business development plan in Real Estate industry in Malta. The idea is based on venturing rental house facilities for the people in Malta and become the most popular real estate business in Malta (Magalhães, Sequeira and Afonso, 2019). There are various limitations of conducting a research, thus the key limitation of this plan is that it is a broad plan which takes a huge time and in that political norms and legislations might be change which affects the idea in wrongful manner (Maina, 2017). The another weakness is availability of resources, thus the investigator needs to make proper arrangement of appropriate and authentic sources that are efficacious in providing relevant information to drawn valid results. The another limitation of this plan is that, it in only effective for the businesses and individual's who are operating in Malta, thus this idea only reflects the business growth in Malta (Maltese, Pika and Shively, 2019). The authenticity of resources is the another limitation of this investigation, as the it is tedious to found suitable data in regards to the real estate business in Malta, thus individual are not really interested to provide information as they are concerning for the lacking of their personal information (Markwick, 2018). The relatability of the information and the development of plan is also a issue, thus researcher needs to ensure about the data and the outcome which is generated through the support of the information.

Chapter 4: Analysis of Results

This is the most important area of an investigation as it is effective in providing a suitable direction to investigation to determining the information in appropriate manner (Martin and et. al., 2019). This part of investigation is efficacious in identifying, analysing and interpretation of the information that are accumulated on a specified investigation area.

Clear presentation of results based on the strategic analysis

Strategic analysis if important to formulate strategic planning for implementing effective decision and smooth execution of organisational operations. In addition to this, strategic analysis is effective in attaining organisational goals that are set by the businesses for the purpose is attaining sustainability. Strategic analysis plays a vital role in bringing essential data in relation to an evaluation and development of environment inside and outside of the business and reveals possible opportunities and threats that are required to be recognised in strategic decision making. Therefore, in respect to attaining the success and sustainability within Malta it become very important for Simon Mamo Real Estate businesses to attempt strategic analysis in respect to analyse the feasibility plan and its future growth and development. Thus, appropriate strategic analysis is done by Simon Mamo with the support of conducting internal and external analysis via the help of SWOT Analysis. Thus SWOT is most suitable model for conducting strategic analysis, therefore, this represents the suitability of business growth in Malta. However, this provides detailed evaluation over the strength, weaknesses, opportunities and threats of business within Malta. Thus, the growth of real estate business in Malta is high and the idea of venturing rental house is effective in attaining higher growth and success.

Through practically implementing the strategical evaluation with the support of SWOT analysis it has been found that the strength is recognised as the power for the firm as it represents the major merits that are effective for the expansion of business within an new area. The major strength of Simon Mamo Real Estate business is that the company is having an effective reputation in market, therefore, the business is already operating on a high extent and the idea of venturing rental house services is effective for enhancing the image of the firm within country. Therefore, Malta is the most tourist attraction place so the, demand of effective and appropriate accommodation is high so the success of the plan is absolute in Malta. As a well established company the firm is having effective proactive team which will be more significant for strengthening the operations of firm in new areas. Furthermore, weakness analysis is also a major aspect of internal business analysis, thus it is effective in determining the internal issues which affects the functioning of business. The major weakness for Simon Mamo is the economic freedom, thus Malts is surrounded through the sea areas, and the economic freedom in the country is lacking. In addition to this high tax rates and high level of government spending is also a major issue for the business. Thus the company is also facing the issue of high labour cost due to addition of corruption and addition of various labour laws. The government of Malta has developed various laws in regards to the labour cost and this affects the operations firm due to integration of high cost. However, Simon Mamo is works as the leader of real estate business and executing their operations on the basis of their own policies which affects the operations of firm in negative manner and also restrict the development of new ideas. Furthermore, the opportunities of the firm can be recognised as the power which will be significant in enhancing the sustainability of business within market. The growth opportunity for Simon Mamo in Malts is high, thus, Malta is recognised as one of the most popular European countries which have an effective global residency and citizenship programs that has led to the very fast growth of the real estate market. The high requirement for rented house in Malta is also turns as creating growth opportunity for Simon Mamo, thus the present business development plan is based on venturing rental house facilities to the people in Malta, so the possibility of business success in Malta is high. Despite of this, threat is the important aspect of external analysis, as it is effective in determining the external aspects that affects the functioning of business, thus the major threat for Simon Mamo is the higher competition base, thus Malta is having higher extensive and citizenship and residency program that assist the development of real state business in Malts, so industries in Malts are concern over developing new and effective ideas for achieving higher growth and success. So the risk of substitute entry is high in the real estate business. The bargaining power of suppliers is also a major threat for the real estate business as a rapid downfall has arises in the number of suppliers, so this affects the functioning of real estate business in Malta.

Appropriate analytical interpretation of results

From the detailed evaluation of strategic analysis in the context of market and industry for the business growth of real estate business in Malta Country, it is being evaluated that the there are various factors that are in favour of the growth of venturing rental house in Malts are, the increasing property rate, rapid development in the number of tourists, requirement of rental house etc. thus these are the major reason that are effective in developing the growth for the idea of providing rental house facilities. The house price of Malts is constantly increasing with a sharp maximisation of around 10.83 percent during the first quarter of 2019. Therefore, as per the estimation of Central Bank of Malta there is a continuous price rose through 4.2 percent during the latest quarter.

(Source: Annual House price change (%), 2019)

Malta was mainly hit by the global financial crises in 2008, thus Malts is based on foreign trade and tourism and the overall economy of Malta has experienced 2.4 percent construction in 2009. The house price Index is mainly went down by 4.4 percent in 2008 and 1.4 percent in 2009 and another 2 percent in the year of 2010. The real estate industry was mainly recovered in the year of 2013 due to the measures implemented by the government, thus this rise the property price from 2014 to 2018. From the analysis of the project it has been analysed that the growth of real estate business in Malta is high, so the idea for Simon Mamo to venture rental house is effective in enhancing the revenue of the firm at wider level.

https://www.globalpropertyguide.com/Europe/Malta/Price-History

Application of results to research objectives and literature

According to a detailed study conducted on the industry and market analysis of Malta, it has been identified that the growth potential for the real estate business is significant. Several factors promote the expansion of the real estate sector in Malta. One of the key reasons is that Malta is a highly popular tourist destination, attracting millions of visitors each year. In tourism, accommodation plays a crucial role in enhancing the overall experience of travelers, making it a vital part of the industry’s development.

Another reason for the promising growth of real estate in Malta is its eco-friendly environment, which makes it a desirable place to live and visit. This study also emphasizes the importance of preparing a well-structured business plan for real estate ventures. For students working on similar projects, tools like dissertation help can provide valuable guidance in crafting effective research papers. Additionally, using a grammar checker tool ensures that the work is polished and error-free, contributing to the overall quality of the dissertation.

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