Search for notes by fellow students, in your own course and all over the country.
Browse our notes for titles which look like what you need, you can preview any of the notes via a sample of the contents. After you're happy these are the notes you're after simply pop them into your shopping cart.
Document Preview
Extracts from the notes are below, to see the PDF you'll receive please use the links above
The BUSINESS DEVELOPMENT PROPOSAL
Kids @ Paradise
1
Kids @ Paradise
Event Management and
Photography for 1-10
year old and toddler
2
Contents
1
...
5
1
...
5
1
...
6
Different Business Models
...
0 Business Concept
...
1 Opportunities
...
2 Business concept statement
...
3 The Window of Opportunity
...
0 Feasibility Analysis
...
1 Product Feasibility
...
2 Industry Analysis - “Kids @ Paradise”
...
17
3
...
21
3
...
25
3
...
29
3
...
31
3
...
29
Estimated Income statement of the proposed Business “Kids @ Paradise”
...
0 Business Model
...
0 The business plan
...
1 Prologue
...
37
Customer acceptance
...
37
Strategy for competitive advantage
...
37
Capital required and timing
...
37
Legal structure
...
37
The business plan for the Kids@Paradise restaurant
...
39
4
1
...
Whereby, the people who used to do farming in the past by the use of
animals are now able to complete it with the use of advanced machines and new
techniques (Roberts, 2014)
...
This has been
able to create a vast difference in the lives of many Sri Lankan people (Roberts,
2014)
...
This has been resulted to create
another major downfall in the lives of Sri Lankan people
...
1) Rationale
As at present most of the Sri Lankan people are more concerned of the financial
side, the time that they have to spend with their loved once have been decreased
phenomenally
...
So this is the identified major downfall in the lives of Sri Lankan
people
...
As in this business our effort is to
capture the most heart melting moments in the family lives and to deliver this to the
minds of the busy parents that they should divide a time for their loved once
...
These team members will not be
just photographers, but, artists, psychologists; they will be interior design
consultants, party planners and simply good friends
...
5
1
...
Depending
on the value prepositions of a company, it will adopt different business models
...
The
sales and the marketing strategies of a company will be determined through the
model it adopts (Investing Answers, 2015)
...
According to Gleeson (n
...
) there are thirteen (13) different models as,
the Add-On Model, the Advertising Model, the Affiliate Model, the Auction Model,
the Bait and Hook Model, the Direct Sales Model, the Franchise Model, the
Freemium Model, the Pay As You Go Model, the Recurring Revenue Model which
is also known as Subscription Model and the Somali Pirate Business Model
...
d
...
Skok (n
...
) further
stated that the business model innovation falls into two categories as “Brand new
business models being created because of the web which don’t resemble any
previous businesses” and “Areas where there were already existing businesses
where new business models are disrupting the landscape” (Skok, n
...
6
2
...
A business concept may involve a new product or simply
a novel approach to marketing or delivering an existing product (Web Finance,
2015)
...
Our services would be creating the
atmosphere that would be suitable for photography
...
Assisting in interior design and
involve in party planning
...
Unlike the other photograph
companies, in this business it is all about the uniqueness
...
We would consult the customers before the
photo shoot in order to be aware of the clothes that they are uncomfortable with and
with what kind of atmosphere they love to be in the photo shoot and other factors
which will have a direct impact on the comfortableness of the customers
...
1 Opportunities
The business perceives the opportunity as to be specialized in the photography of
the child and the family
...
2
...
The business concept is structured with the below mentioned aspects
...
The Product / Service
This is a mix between product concept and the service concept where the business
“Kids @ Paradise” is offering both tangible as well as intangible outcomes when it
comes to the customer expectations
...
The products are basically the outcome under the photography and the even
management aspects such as music, decorations and etc
...
In here, the consumers are not having the decision making power and the
to get the purchasing decision where the purchasing decision is rallied under the
decision and the satisfaction level of the parents and the others who are the
customers of the business “Kids @ Paradise”
...
Who is involved?
There are three main parties involved in the business named as consumers,
customers and the business representatives where the consumers are the desired
party to get the benefits and the elders are the customers who will always get the
purchasing decision and the business will offer what they need
...
3 The Window of Opportunity
The opportunity is assured and visible when it comes to the new business idea where
there are number of photography and event management organizations in the
country but this is a specific business idea where the unique selling point is an iconic
aspect of the business in order to sell the products and services in a continues
manner
...
3
...
A
feasibility study is like a research and a realistic solution that visualize the
practicality of a business towards achieving set goals and objectives
...
The areas to be addressed within the feasibility study of “Kids @ Paradise” are
visualized below in the figure
...
1:
Source:
Product Feasibility
The product feasibility will be an indicator for the business plan regarding his
realistic moment of the product
...
10
Industry Feasibility
The supportive aspects in relevant to the industry is measured under the analysis of
industry feasibility where the analysis normally focuses on the strengths and
weaknesses of the industry and also the possibilities that can be used to strength up
the organization process when it comes to the industry requirements can be
measured and realized under the industry feasibility studies
...
Organizational Feasibility
The SWOT factors in the SWOT analysis will be measured in the organizational
feasibility where the business plan will be equipped with a comprehensive SWOT
analysis and a thorough understand on the available opportunities where the
organization will be able grab by using their strengths by realizing the weaknesses
as well as threats to the organization
...
11
3
...
1:
Source:
20% of the testers stated that the business concept is having a very high level of
uniqueness and 45% are in the status of 45% reflecting the uniqueness is high in
degree
...
The demographic aspects of the product feasibility of “Kids @
Paradise”
The survey has main demographic parameters such as age, gender, income level
and the education level where those parameters are indicators for the “Kids @
Paradise”, the photography and event management for analyzing the product
feasibility of the business
...
1:
Source:
The age categories, 90% out of the persons representing the age level of 20 – 24
years stated that the business idea is unique and the advantages can be earned with
the new business idea
...
70% of the majority representing the age categories over 35 years stated that the
business idea is not that much unique and it has only the moderate touch of a
business idea
...
1:
Source:
The analysis of the gender aspects of the sample, it is balanced with the gender
distribution where 55% of the persons in the sample is represents females while
45% of the samplers are representing the males
...
14
Income level analysis in the sample
30%
15%
30%
15%
5%
Below 25,000 LKR 25,000 - 50,000
LKR
50,000 LKR 75,000 LKR
75,000 - 100,000 Over 100,000 LKR
LKR
Figure 3
...
15
Level of Education analysis in the sample
40%
30%
25%
5%
Degree holders
High School education Ordinary Education
Other
Figure 3
...
All most all the persons in the
sample have basic education and for this kind of business, the education level of a
person does not matter a lot
...
2 Industry Analysis - “Kids @ Paradise”
Porter’s Five Forces Analysis
The porter’s five force analysis is a concept developed by Professor Michael Porter
in relevant to the Harvard Business review in 1996 where the concept is a focus on
analyzing an industry under five main parameters
...
Bargaining
power of
suppliers
Threat of
new
entrance
Rivalry
Among
current
competitors
Threat of
substitutes
Barganing
power of
buyers
Figure 3
...
The specialty of “Kids @ Paradise” is
that the organization is doing both event management for Kids and toddlers where
the business is specialized in order to cater the business to a different segment than
the segment where the competitors cater for and the uniqueness of the business is a
plus point for “Kids @ Paradise” for proper and also be competitive within the
competitors
...
Bargaining power of Suppliers
There is a low bargaining power of suppliers in the industry where there are lots of
suppliers spreaded within the industry who produce supply materials to be needed
for the industry and the low power of suppliers will lead the firms in the industry
for a cost leadership stage where they will be able to earn more benefits from the
suppliers as they are in a stage of low bargaining power
...
There is a little power of bargaining can be notified where the other
firms also offers the same facilities but “Kids @ Paradise” is only for the kids and
the toddlers so that the uniqueness will bring the bargaining power of buyers down
for a stage where “Kids @ Paradise” can get an advantage out of it
...
18
Threats of New entrance
The threat of new entries can be a concernable threat where the new entries can be
expected under the concept of catering event management and photography
solutions for the segment – kids and toddlers
...
The key points to be highlighted in the Porter’s Five force Industry analysis on
“Kids @ Paradise”
Aspect of the Porters Description
Degree of Importance
Five Force
Current
competitions Concernable degree of
from the existing players
competition can be seen
...
Selling features of the The selling feature of
current competitors Vs “Kids @ Paradise” is
“Kids @ Paradise”
unique when it comes to
Moderate Degree
the current competitor
base
...
3 Market Feasibility
The market feasibility analysis is focus on find out the degree of the reality and the
visibility of the marketing concept where the “Kids @ Paradise” is going to use in
the long term of the business
...
The first parameter of the market feasibility can be considered as the age limits of
the sample and the target market where the below mentioned pie chart will illustrate
the balance of the age distribution and also the level of age that tend to prefer the
new business idea; “Kids @ Paradise”
...
1:
Source:
With the primary data analysis, the best age categories to be segmented in order to
promote the new business idea is age limit of 20 – 35 years as 90% out of the
persons representing the age level of 20 – 24 years stated that the business idea is
21
unique and the advantages can be earned with the new business idea
...
70% of the majority representing the age categories over 35 years stated that the
business idea is not that much unique and it has only the moderate touch of a
business idea
...
1:
Source:
The new business idea is proved as a unique business idea where 65% out if the
sample stated that the uniqueness of the business idea is high or greater than that
when it comes to the degree of uniqueness
...
22
Average Expense for “Kids @ Paradise” products and
services
35%
30%
18%
11%
6%
Below 5000
5000-10000
10000-25000
25000-50000
Over 50000
Figure 3
...
30% of the samplers focus on spending an amount between 10000 –
25000 LKR and this stated that the majority of 83% is in the preference price range
of 5000 – 25000 LKR where the product and service design should be address the
price preference of the majority in order to expect the sustainable sales and revenue
generation
...
9
Source
The consumer purchasing sequence in the proposed business is indefinable as the
product and services of “Kids @ Paradise” are not subjected to be sold in frequent
manner as an FMCG or a consumer good where they are providing occasional
solutions
...
The business is having no defined sales sequences to be offered for the customers
that the product and services are based on kids and toddlers with their occasions
such as birthdays
...
4 Market Segmentation aspects of the Business
Geographic Segmentation
There are no geographical boundaries for the business idea’ “Kids @ Paradise” that
the potential customers are everywhere in the country and also the potentiality of
the business is not rallied upon the geographical boundaries
...
Demographic Segmentation
The demographical segmentation is vital as the marketing plan as the marketing
plan of “Kids @ Paradise” will be rallied on the demographical composition of the
marketing mix
...
The demographical segmentation will be a tool that can be used to
design the model of the potential customers and their preferences
...
Behavioral Segmentation
This is a type of segmenting the customers in relevant to the customer behaviors
and attitudes where the right product or a service can be offered to the right
customer with right requirement under an analysis of customer behaviors
...
Area
Description
Specialty
This age range is preferring
Age level of Customers
20 – 35 years
more on the inventions and
innovative ideas of business
Suitable as the products and
Monthly income over services
Income level
50000 LKR
are
much
customized and expensive
when it comes to the price
range
Between the range of Most of the persons in the
5000 – 50000 LKR sample are preferring this
Product pricing
and
some
especial price range where kids and
rates of packages
toddlers are not required
much expenses for events
The product and services
Photography,
Product design
video, should be customized in
event management
order to address different
customer segments in the
common market
...
6:
Source:
SWOT analysis of “Kids @ Paradise” in order to access the organizational
feasibility
...
SWOT Area
Justification
Unique Marketing and Selling concept
New Business idea on Kids and Toddlers
Financial Resources
Strength
Strong human resources
Inspired employees
Weaknesses
Weak promotional aspects
Market development
Product development
Opportunities
Diversification
Employee delegation towards motivation
Easiness of new entries to enter
Threats
Market uncertainty
Table 3
...
27
The most advantageous strength of the proposed business is that the “Kids @
Paradise” is a unique business concept where there are no businesses caters the
products and services for kids and toddlers on photography and event management
...
The new business idea on kids and toddlers on photography and event management
is all about a fresh business idea and the advantage of first time appearance to the
market will definitely an advantage as well as an opportunity in order to exist in the
market
...
The sound strength of resource is the next big strength in the organization where
financial and non – financial strengths such as human resources should be in a great
level of strength in order to apply the relevant strength to the relevant place and
operations in order to gain the required and expected objectives
...
The inspired
employees are always assets for organizations where they are in the best mentality
and mindset to accomplish organizational objectives in a collective environment
...
The marketing should be sound and perfect where the customers may be able to get
the maximum awareness and attention on the business idea but this unique business
idea has to use a very strategic and specific marketing and branding plan to get the
awareness of the customers towards their purchasing decisions
...
The opportunities are basically focus on the
28
development and innovational aspects
...
This
is a long term process where the organization has to establish themselves to a very
strong position within the existing market under the penetration activities
...
Employee Delegation is also another opportunity where delegating employees will
give them an authority to take decisions with responsibility and accountability in
order to motivate towards achieving collective objectives of the business
...
The easiness of entries as a new player is also high where the threat is affecting in
a high degree to “Kids @ Paradise” in the long term existence
...
5 Financial Feasibility
29
“Kids @ Paradise” is a single owner business that is registered as a private limited
organization
...
The identified cost pools regarding the business are mentioned below
...
Cost Pool
Description
Infrastructure
Including premises and the cost, basic infrastructure
facilities
Equipments
materials
and
raw Initial cost for equipment and variable cost for materials
Human resource (Salary Cost will subject with number of employees and their
and wages etc)
workload
Marketing,
admin cost
sales
and Depends on the requirements on branding
Figures in LKR
30
12
2015
01
2016
02
2016
03
2016
04
2016
05
2016
06
2016
07
2016
08
2016
09
2016
10
2016
11
2016
Infrastructure
35,000
35,000
35,000
35,000
35,000
35,000
35,000
35,000
35,000
35,000
35,000
35,000
Equip
...
6 Risk analysis of the business reflecting the financial
uncertainty
The risk is a common as well as a definite factor when it comes to the financial
operations and also for non-financial aspects
...
The
following risk aspects can be identified within the financial aspects of the business
...
7 Master Budget of the Proposed Business for the Year of 2015- 2016 (Value in LKR 1000s)
Sales Budget
12/2015
01/2016
02/2016
03/2016
04/2016
05/2016
06/2016
07/2016
08/2016
09/2016
10/2016
11/2016
Revenue
300
300
400
450
500
500
500
650
650
750
750
750
Production Budget
In Units
Quantity
12/2015
01/2016
02/2016
03/2016
04/2016
05/2016
06/2016
07/2016
08/2016
09/2016
10/2016
11/2016
100
120
130
120
100
70
150
170
200
170
160
180
Closing Stock
20
40
50
10
20
100
50
60
20
20
60
50
30
60
30
50
20
30
30
50
30
40
60
130
120
100
70
150
170
200
170
160
180
170
01/2016
02/2016
03/2016
04/2016
05/2016
06/2016
07/2016
08/2016
09/2016
10/2016
11/2016
50
75
80
100
120
50
80
70
60
50
50
Less Opening Stock
Value
120
Material
Budget 12/2015
(LKR) 000
Materials (Raw)
100
Equipment
200
100
100
Other
30
20
30
50
50
20
50
60
50
80
20
30
Value
330
70
105
130
150
240
100
140
120
140
70
180
29
Estimated Income statement of the proposed Business “Kids @ Paradise”
Rs
Sales Revenue
Rs 2
6,500,000
...
00
Gross Margin
5,600,000
...
00
(-) Operating Expenditure
2,000,000
...
00
Admin Cost
750,000
...
00
Total operating expenses
2,000,000
...
00
Table
...
30
4
...
The model called “Business Model Canvas” is the model that is going to be used as the ultimate
tool, that has the capacity to illustrate and visualize the capacity and the strengths that the
business has in order to conduct the business for achieving organizational goals and objectives
...
-
Drivers: Key success factors of the business
-
Identity: Uniqueness of the business and the selling concept
-
Priority customers
-
Superior value proposition
-
Channels
-
Key Activities
-
Competitive strategy
-
Relationships
-
Key partners
-
Value chain based resources
-
Cost aspects
-
Revenue streams and cash flow
...
The uniqueness of the business concept is further strengthened by the financial
and non-financial resource adequeness in the business where the business is perfectly stable
with the resource aspects
...
Core customer base of the business
The customer based has been segmented as the customers who prefer separate event
management and photography for kids and toddlers and basically the customer profile should
be a moderate and also can be high in the social status
...
The value proposition of the proposed business
The value generation of the proposed business is based on three main areas
...
The value can be added by following strategies for the mentioned three aspects
...
33
Process enhancement is also a requirement where the business has to do innovations, inventions
as well as advancement for addressing the expectations of the customers
...
Competitive strategy of the business
This is really important in order to maintain a high awareness and well structured environment
where the organization can earn the competitive advantage in order to compete with a high
potentiality with the competitors
...
The online business premises is maintained by the
organization for customers to get information on products and services as well as to order and
pay via online the preferred selected items and services
...
Key activities of the business
There are two key business activities in the business where they can be considered as activities
that are generating business and the revenue to the organization
...
Resource available
There are four main resource types available in the business model
...
The
34
resources should be managed in order to get the expected results of the business at the right
time under the right quality
...
The parties and customers, employees, management and the
suppliers
...
Revenue and Cost Management
This is really important in for an organization as finance is the most valuable intangible
resource as it is a most needed factor when it comes to the operations and the business activities
...
35
5
...
1 Prologue
The viability of business plan process is very valid and is mandatory to the overall process of
creating a startup plans
...
The author’s intention of drafting a business plan is to convince the logic of marketing,
financing and hiring appropriate employees, as identified by the Harvard Business Review
(2015) at the right time the right thing
...
36
Executive Summary
Customer acceptance
S
Business potential
S
Strategy for competitive advantage
S
Revenue and profit forecast
S
Capital required and timing
S
The team
S
Legal structure
S
Partners
S
37
The business plan for the Kids@Paradise restaurant
1
...
The business is a unique proposition which is to be considered for the
overall success and direction that is undertaken
...
2
...
4
...
Where are we now and where have we come from>
Where we would like to be and by when?
How we propose to get there>?
How to ensure arrival>
What will be the expected outcomes
A statement of likely risks and how these can be managed
Critifical factors for scess
Viabilitiy plan
Budgets and invements requirement
38
Referencing
Roberts, M
...
Available at:
https://www
...
com/index
...
Available at: http://www
...
com/financial-
dictionary/businesses-corporations/business-model-584
Gleeson
...
(n
...
) ‘Examples of Well-Known Business Models’, [Online]
...
bplans
...
uk/starting-a-business/examples-of-well-known-businessmodels/1040
Skok
...
(n
...
) ‘Business Models’, [Online]
...
forentrepreneurs
...
Available at:
http://www
...
com/definition/business-concept