Tech Boom

Subject: Economics
Type: Proposal Essay
Pages: 9
Word count: 1763
Topics: Bitcoin, Business Plan, Management, Organizational Behavior

Business Idea

Bedrock Reality is a real estate brokerage that invests in property management with a goal to satisfy the needs of their clients. In this project, Bedrock Realty seeks to invest in a property of three companies in Cleveland, which have proved to experience rapid growth in the recent past. The corporations are appreciated for their unique innovation and the fact that they are globally recognized for the significant contribution in transforming the global economy. 

Coinbase is a new type of business, which has been trending for the recent past. It is a hosted web-based e-wallet that is used by consumers to send, receive and store bitcoins and litecoin (Hurlburt & Bojanova, 2014). However, to either buy or sell cryptocurrency, consumers have to contact a US-based bank for the transfer. The rationale for introducing the service is to offer consumers with the easiest way of using the digital currency. With globalization, there is growing need for businesses to use a standard currency, a demand that Coinbase seeks to satisfy. Therefore, the coinbase investment is a promising venture for the business. 

Amazon, on the other hand, is the world’s leading online retailer which has been recognized for its unique retailing on the online platform (Pandya & Arenyeka-Diamond, 2002). Besides, the firm is appreciated for its extended reach to penetrate different parts of the world. The business is appreciated for having a strong base of loyal customers, who have played a significant role in the firm’s growth. This online retailer is seeking for strategies to maintain its leadership position in the market. Besides, the company is experiencing a lot of competition from new entrants. Therefore, with effective management of the business, it will enhance chances of meeting its set objectives. 

StockX is a leading company that engages in the sale and distribution of sneakers. The firm is owned by Dan Gilbert and located in Cleveland. The rationale for introducing the business was to streamline marketing and distribution of sneakers as customers experienced challenges buying products from anonymous people in the online platform. Additionally, the business seeks to enhance quality of service provided to customers, to win their loyalty. 


Cleveland is strategically located between New York, Chicago, and Toronto, an aspect that allows for quick access to the city from different parts of the world. Besides, more than half of the US population lives within 500 miles of the city and the fact that it hosts most of the US fortune headquarters (Cleveland Business, 2017a). The location has an ideal environment that supports numerous types of businesses. The city runs a $226 billion economy making it be globally recognized (Cleveland Business, 2017a). Besides, it has a skilled workforce which supports the business, low cost of labor among other aspects making it an ideal business hub.  Additionally, the firm’s proximity to major markets makes allows businesses to more merchandise from one location to another with ease. 

Different stakeholders have cited the fact that Cleveland region has a network which is supportive of economic development. The firm’s strategic positioning makes it easier and cheaper conducting business in the city as compared to other places in the US (Cleveland Business, 2017b).

Cleveland owns significant industries in the country, a reputation that is contributed by the city’s rich history in innovation and manufacturing. The city has also been appreciated for developing an ideal setting for international business operations. Therefore, Bedrock Realty will invest its business in 959 w. St. Clair Avenue, which is an important street in the city. 

Condition of Building: Office Space

Effective design of the office space is necessary as offices play an essential role to the success of any business. Therefore, investors can opt for building or renting office space with the right amenities as specified by the type of job required. Developing a good office is therefore critical for this business, as it is a tech Boom venture, seeking to leave history in Cleveland. 

Some of the important aspects that are taken into consideration when selecting an ideal office space include the decision on space requirement based on the size of the business. Businesses should be strategically located, hence the need to prioritize where to locate offices. Additionally, when selecting an office space, there is need to choose good rented workspace which is fully furnished and equipped with current amenities. For instance, the office space may have a fully furnished kitchen and washrooms. Other amenities required include elevators, access to public transport and adequate parking space. Nonetheless, different buildings have various types of amenities offered, hence the need to strategically choose the right structure to locate an office. 

Bedrock Realty already has a building which was initially an office and requires some renovations, more so in the interior part of the building. The interior has to be modified to meet the standards of the modern makeover, an aspect that will help the business gain a significant reputation in the market for its branding. Furthermore, the firm has about three floors that will be used for offices, which are adequate to allow the business to offer a wide range of services to target customers. The building was built in 2002 hence it is still strong and does not require a lot of innovation, an aspect that makes it ideal for this type of venture. 

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Why this Location?

As aforementioned, Cleveland is a booming city with potential to attract investors from different parts of the world. This can be evidenced by the analysis of the economic growth of the city, making it as one of the most important business hubs in the country. The city has also been recognized for its vast economic size of about $221 billion. Besides, Bedrock Realty will be located close to new flats built in the area, which is a potential market for the firm’s products. Besides, the business will also be close to other significant investment such as casinos, the Q, and Brown Stadium, an aspect that will make the business gain increased recognition due to its strategic location. 

Furthermore, the business will be close to Lake Erie which is a great shipping point, and twenty minutes off Burke airports for investors using private jets. Apparently, the area is densely populated with people coming from different parts of the world. With effective advertisement of the business, more consumers will be attracted to using the company products, an aspect that will impact positively on the business growth. 

What Does It Bring to Cleveland?

Cities are strategically positioned to offer countries with sustainable solutions as well as impact positively on the economic growth of the world economy. Apparently, about half of the world population lives in the cities, and the rate is expected to grow further by 2050 (, 2017). For economic sustainability of these cities, trillions of dollars are required each year to engage in different types of investments. Increased investment improved people’s accessibility to clean water, healthcare system, economic opportunities, and jobs.  

By investing in Cleveland, Bedrock Realty will contribute to about 90 new jobs which will be spread across the firms, thus reducing the unemployment rate in the country. Since the investment seeks to venture into the technology sector, it will make Cleveland to become one of the recognized technology capitals in the globe. Furthermore, the business will showcase the modern design building and office space, an aspect that will make the business to be appreciated for its modern culture. The investment will further attract more people into the city as well enhancing public spending, an aspect that will contribute to increased economic development. Additionally, the business will contribute to increased foreign exchange revenue through the tax dollars obtained. 


Investment fund refers to where capital to support a given project is obtained. Investors usually have shares in a business, and their influence in a program is determined by their number of shares they own. There are different types of investment funds, and all vary based on their nature. Furthermore, various investors can pool resources and invest in a single venture so that they share benefits and costs. For this business, the investor will be a single party which is Bedrock Realty and will be entirely owned by Dan Gilbert.  

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Main Costs

Every project incurs costs which are pre-determined by project stakeholders to help in the assessment of project feasibility.   Different approaches can be used to assess the feasibility of a project given costs and expected returns. For this project, the following charges will be incurred:

  •   Purchase of a building costing 2.5 million 
  •   Completing the interior makeover to meet the design of modern office space
  •   Electrical costs for the tech firms 
  •   Rent 
  •   Advertising 
  •   Other costs
  •   Budget Development

The developmental budget includes all the costs that will be incurred from acquisition of the firms to manage business operations, and the figures are in the US dollar.  

Acquisition 2,500,000
Construction Costs 500,000
Legal Fees 50,000
Insurance 40,000
Development interest 90,000
Developers Overhead 85,000
Taxes while developing 15,000
Miscellaneous costs 45,000
Contingency 100,000
Total Project                    3,425,000



Why Does This Make Sense?

It is imperative to note that the three firms have a global recognition and have a market penetration to almost every part of the globe. Because of their significant market share, the firms have a considerable potential to improve their profitability rate. Besides, the businesses have been acknowledged to generate more profit each year, an aspect that has been appreciated by different scholars. For instance, Bitcoin as one of the venture has improved its value from $100 to about $200,000. This shows that the business has a lot of potentials, which if exploited well will earn investors a lot of cash. Amazon, as evidenced in the study, has made life easy as it using drones to deliver orders to customers’ doorstep. StockX on the other hand also received rapid growth in the recent past, an aspect that has been appreciated by different scholars. In summary, it is worth concluding that investing in the above three businesses; Bedrock Realty will make Cleveland a potential technology capital in the world. 

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Did you like this sample?
  1. (2017). Cities Need Good Credit Scores Too. Here is Why? 
  2. Hurlburt, G. F., & Bojanova, I. (2014). Bitcoin: Benefit or Curse?. IT Professional, 16(3), 10-15.
  3. Pandya, K. V., & Arenyeka-Diamond, A. O. (2002). Towards a model of e-tailing: a SWOT analysis of electronic supermarkets. International Journal of Services Technology and Management, 3(1), 96-110.
  4. Cleveland Business (2017a). Access to Market.
  5. Cleveland Business (2017b). Business Friendly Environment. 
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