Business Plan On Bangles 5m156s
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Business Plan
IN THE NAME OF ALLAH MOST MERCIFUL MOST BENEFICAL
Management Sciences Department At National University of Modern Languages and Sciences Islamabad, Pakistan Group :
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Roll. No
Page 1
Business Plan
Abstract All praises to almighty Allah who gave me courage, knowledge and determination to accomplish my tasks. We have studied various courses in this program but no one provided us opportunity to practical implementation of these courses. It is a task through which the student get knowledge of creating a business plan and what actually being done in the market and apply the knowledge that they gained through books. The main objective of writing this business plan is to create a new business which helps to maintain the new challenges that we face in practical business life. It is very informative and innovative through this students get a chance to observe and analyze the market as well as whole management process e.g controlling, leading, organizing and managing a new business. This
will
be
unique
experience
to
critically
analyze
circumstances,
opportunities and factors affecting the business life. It provides a guideline to start a new business. In this business plan, we able to know how to utilize the resources and howto manage customers. This opportunity provides us experience of direct public response and behavior towards newly entered business man. The purpose of this plan is to evaluate the performance of ours and give concrete recommendations for further improvements. The problem that we face during a business plan is brainstorming that provide us many innovative ideas but the main limitation to implement these ideas is our budget. We managed our budget in this way that is convenient and affordable for each group member. At the end, I would like to say thanks to all of my group who helped me during writing business plan and in the documentation. NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 2
Business Plan
Acknowledgements
“I dedicate the project to my teachers, Friends who remained the source of encouragement throughout.And I also dedicate it to flood affected people At the last I am very humbly raising my hands to pray for success in worlds, good health and long life of my parents and teachers whose encouragement and prayers enable me to complete my studies.”
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 3
Business Plan
Table of Content 1. Introduction
7
2.Executive Summary 2.1. Objectives 2.3. Mission
9 9
2.4 Keys to Success 3.
8
10
Business Description 11,12 3.1.
Why we are Different from Others? 13
3.2.
Financing
13
3.3. How we assure our profit?
13
3.4. Product 14 4. Marketing Strategies
15
4.1. Market Segmentation
16
4.2. Target marketing: 16 5.Sales Promotions 16 6. Competitive Analysis 6.1. Competition
18
18
6.2. Pricing Strategy
18
7. Symbolism of bangles
19
8. Operational/Management Plan 20 9. Financial Components
21
9.1. Income Statement (Estimated)22 9.2. Balance Sheet 10. Conclusion
24
11. References
24
23
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 4
Business Plan 12. Appendix 25
BUSINESS PLAN ON BANGLES
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 5
Business Plan
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 6
Business Plan
1.INTRODUCTION Think of eastern jewelry and the first thing that comes to mind is bangles.Bangles are traditional ornaments worn by all women, especially in subcontinent. They are circular in shape, and, unlike bracelets are not flexible. They are made of numerous precious as well as non-precious materials such as gold, silver, platinum, glass, wood, ferrous metals, plastic, etc. A newly invented Bangles are now running very successfully all over subcontinent namely Bengali Bangle, where pure gold strip is thermo-mechanically fixed on bronze base, and all associated designs are done onto it, it is not only cheaper than usual gold bangles, but becoming popular day by day because of variety of designs. Bangles are part of traditional jewelry. They are usually worn in pairs by women, one or more on each arm. Mostly women prefer wearing either gold or glass bangles or combination of both. Inexpensive bangles made from plastic are slowly replacing those made by glass, but the ones made of glass are still preferred at traditional occasions such as marriages and on festivals.The tradition of wearing glass bangles also engulfed the young, teenage, and unmarried women, as it is a strong traditional belief that it is inauspicious leaving their hands bare. The designs range from simple to intricate handmade designs, often studded with precious and semi-precious stones such as diamonds, gems and pearls. Sets of expensive bangles made of gold and silver make a jingling sound. The imitation jewelry, tend to make a tinny sound when jingled.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 7
Business Plan
Glass bangles are mostly produced in the old Indian city of Firozabad in North India. Hyderabad also has a historic market for bangles. In Pakistan glass bangles are produced mainly in Hyderabad, Pakistan.
2. Executive Summary Fashion jewelry bangle is owned by some students and the area we have selected is Kayabane-Sir Syed. It will provide the combination of excellent quality at value pricing with special discount and good atmosphere. We are providing bangles with best quality & standard in different size and stuff. Multi colors are available with reasonable price. Our bangles include combination of materials and decoration to give you truly impeccable styles of bangles. We will also tell you about bangle color meanings. That will help you at the time of getting special gift. Bangles are one of those things that attract peoples more and more and with the age of time peoples want unique and different styles according to fashion. Our product is usually inexpensive every one can purchase easily. We are offering glass, wood, ferrous metals, and plasticbangles and also providing bangles: a solid cylinder type; and a split, cylindrical spring opening/closing type. Primary distinguishing factor for these is the material that is used to make the bangles. This may vary anything from glass to jade to metal to lac and even rubber or plastic.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 8
Business Plan
Another factor that adds to the price of the bangles is the artifacts or the work done further on the metal. This includes embroidery or small glass pieces or paintings or even small hangings that are attached to the bangles. The rareness of a color and its unique value also increase the value. Bangles made from lac are one of the oldest ones and among the brittle category too The Fashion jewelry bangles financial picture is quite promising. The initial cost is significantly less than many start-ups these days. For the purpose of this pro-forma plan, the capital expenditures of facilities and equipment are financed. There will beaverage inventory on hand so as to meet the requirement of that area and to take advantage of price drops, when and if they should occur.
2.1.Objectives • To
establish
the
market
presence
needed
to
marketing and sales goals and to attract customers. • Satisfaction and positive feed back of customer • Increase no of outlets in local areas • To reach Rs 1,500 monthly sales and Rs 2,000 average monthly sales by the end of year. •
To achieve profit margins over 10-15%.
• To develop top-rated relationships with customers.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 9
Business Plan
2.2. Mission Fashion Jewelry Bangles is committed to providing the highest quality, and wellness products at low price. Our staff is friendly, eager to serve and ready to educate. And we deliver high quality product at reasonable prices.
2.3. Keys to Success The keys to success in this business are as follows: •
Primary distinguishing factor for these is the material that is used to make the bangles.
• The greatest locations - visibility, convenient access. •
Promoting a productto all community.
• Pricing effectively with respect to the quality and customer value proposition. •
The friendliest environment.
•
Product quality and material that
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 10
Business Plan
This business plan calls for an exciting, profitable start-up with future forecasted growth as we meet the demands of the community. In all, this plan describes a healthy company with good growth prospects, looking to manage its orderly growth in the near future.
3. BUSINESS DESCRIPTION Our business is about bangles and industry is about bangles. We choose this sector because the limitations are far away here and Eid event also give raise to our business. Fashion Jewelry Bangle is a single unit, small sized business. Which start as a simple sole proprietorship, owned by its founders. The founders of the Fashion Jewelry Bangles are six friends which focus on different issues of the business. The idea behind the business is to provide quality, unique and stylish product to the public in a friendly environment. It is based on providing consistent levels of service and quality products, and the values of NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 11
Business Plan
Quality, Service and fairness are important to all who work at Fashion Jewelry Bangles. All of us must provide a high level of customer satisfaction and maintain high standards and different design and different varieties of bangles of each category.
We are offering a product of different varieties in beautiful colors. Our customers are many of the young girls and students and for all ladies. It has a fixed place and outlets for selling the product and services. We decide to sell our products according to choice of people.
So
that
we
cover
all
women
without
any
class
discrimination, so our competitors can’t meet us. Most important to us is our financial success, but we believe this will be achieved by offering high-quality service and extremely fair, friendly environment. Fashion Jewelry Bangle offers high quality product to a growing community. At start up we will be open for 2:00 p.m. to 11:00 NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 12
Business Plan
p.m. Monday – Wednesday. We will consider opening earlier and serving to their customers if there is a demand, and if forecast and financial analysis can justify the increased costs.
Why we are different from others? • Quality • Customer Dealing • Healthy environment • Reasonable prices
3.1. Financing Initial financing is provided by partners, which was for the booking of stall Rs.2,000. An agreement was done between NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 13
Business Plan
Executives (CEOs). We are students but still we carried the burden of finance.
3.2. How we assure our profit? Assuring our profit is based on our survey which we had done in different ladies market and weekly markets couple of days ago. Another assurance is of our well organized business structure with skilled employees and workers.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 14
Business Plan
3.3. Product We want to focus only on selling a quality product. Because ladies always rely on quality and standard products. Fashion Jewelry Bangles promote the traditional culture and enhance their life style.
3.3.1. Product Description Fashion Jewelry Bangle’s main products are; Plan Glass bangles Embroidery or small glass pieces bangles Painting bangles Small hangings that are attached to bangles Wood bangles Ferrous metals bangles Plastic bangles A solid cylinder type of bangles Split, cylindrical spring opening/closing type of bangles
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 15
Business Plan
4. Marketing Strategies 4.1. Market Segmentation Divide a market into a smaller group of ladies buyers with distinct needs.
4.1.1. Cultural Segmentation On the basis of cultural segmentation we offer bangles for Eid event, because ladies of different age in sub-continent are very curious to take jewelries and bangles on Eid event.
4.1.2. Demographic segmentation Dividing a market into groups based demographic variables such as age, gender etc. Demographic segmentation for Fashion Jewelry Bangles is quality and satisfaction for every female, everyday every age.
4.2. Target marketing Through market segments the firm evaluate the various segments and decide how many and which segments the firm can best. Fashion Jewelry Bangles target market is school, college’s girls, university and working women. In other words Fashion Jewelry Bangles are targeting all females without any age discrimination. Our product is useful and attractive for every age of women. NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
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Business Plan
4.2.1. Marketing positioning Fashion Jewelry Bangles hold strong reputation for high quality product. They aimed to satisfy consumers' demands, better and more profitably than their competitors.
5. Sales Promotions In order to our sale promotion program, we will need to and promote about Fashion Jewelry Bangles through electronic media, internet e.g. facebook and through mobile SMS.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 17
Business Plan
6. COMPETITIVE ANALYIS 6.1. Competition The competitive analysis of our competitors is that they do have better source of funding, more interaction with people. But in their weaknesses department they do have poor management, quality product and as follow: Fashion Jewelry Bangles has several advantages over its leading competitors: Unique combination of colors. We expect a high degree of ion with friendly staff that reflects
the
Fashion
Jewelry
Bangle’s
youthful
and
energetic culture. Supply Discounts Community Benefit Quality Product
6.2. Pricing Strategy We provide a customer with a quality product at a competitive price and offer the customer with a more convenient method for obtaining their desired product.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 18
Business Plan
7. Symbolism of Bangles Bangles are a type of ornament worn by women in subcontinent. Also called Kangan or Chudi in subcontinent, bangles come in various colors and are symbols of matrimony. A single bangle worn by woman is called a Kada and Kada is a circular shaped bangle and is made from iron, white metal or gold. It has religious significance for Sikhs. In whole world and especially in subcontinent, bangles are very popular and with growing fashion trends, have become a highly popular in their various designs and forms. No longer are bangles just made in a circular shape with glass. Today, bangles are made from various materials and can be found in many shapes such as round, rectangular, oval etc. Worn in pairs, one on both arms, bangles are colorful, beautiful, and enhance the beauty of women who wear them. Gold, silver, wood, ferrous metals, plastic, rubber, and glass among other things are used extensively to make bangles. However, tradition demands that women of subcontinent wear gold and glass bangles or only gold or glass bangles. Gold bangles studded with semi-precious gems, or diamonds, pearls or just plain gold bangles with pretty designs are popular with women in India. The range of these bangles can range from downright simple to extremely intricate. Generally, a single bangle is adorned by women across the world in various variations such as bracelet. But in other regions such as the Arabian Peninsula and South Asia, bangles have been evolved into a wide range and each is used for different occasions.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 19
Business Plan
Firozabad in Uttar Pradesh, India is the single largest producer of glass bangles. Hyderabad, capital of Andhra Pradesh State, also has a historic bangle market called Laad Bazar. In Pakistan, glass bangles come from Hyderabad (Pakistan). Bangles have been a part of the Indian culture for many centuries, but the new trendy bangles are more versatile than ever before. Available just bout anywhere, designer bangles are even sold in malls, jewelry shops. But the real deal is the glass bangles…a pious symbol of matrimony. Here’s a look at what the various colors mean. No.
Bangle Color
Meaning
1
Red
Energy
2
Blue
Tranquility/Wisdom
3
Purple
Independence
4
Green
Luck/Married Status
5
Yellow
Happiness
6
Orange
Success
7
White
New Beginnings
8
Black
Power
9
Silver
Strength
10
Gold
Fortune
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 20
Business Plan
8. OPERATIONAL/MANAGEMENT PLAN Fashion Jewelry Bangles management team is led by Waseem Murtaza Hussain, which is a small business and will be relatively flat one, since the majority of personnel are involved in sales and marketing and there will be a relatively low headcount in production due to nature of product. Over all group will have six and all can do full time job. Our team is based on responsibilities and mutual respects. Group has an environment and structure that encourages productivity and respect for customers and fellows. There are two functioning groups within thisbusiness such asSales and Marketing. •
Waseem - General and istrative function.
•
Saud, Marrium, Alvina- Sales
•
Saima- Marketing
•
Naila – Finance
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 21
Business Plan
9. FINANCIAL COMPONENTS To arrive at the average 3 days fixed costs, the calculated fixed costs for by using the average price per unit, less the average cost per unit, divided into the fixed costs of operation, which concludes that we will need to sell at least the number of units shown in the following chart to reach break-even within three days.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 22
Business Plan
9.1. Income Statement (Estimated) Fashion Jewelry Bangles Income Statement For The Period of _________
Expected Sales Less Cost of Goods sold 000 Gross Profit:
Rs.10, 000 Rs.5, Rs.5, 000
Less: Operating Expenses NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 23
Business Plan
General expenses
Rs.1, 000
Operating income
RS.4, 000
Less other expenses Rent expense
RS2,000
Net income
Rs 2,000
9.2. Balance sheet Fashion Jewelry Bangles Balance Sheet As on---------------ASSESTS
Cash
6,000
Rs. LIABILITIES
Expenses
Rs.
5,000
Reserves4,000Capital 5,000
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 24
Business Plan
10. CONCLUSION 1stof all thanks to ALLAH this project has been completed. We have really enjoyed this project. It is very helpful to get a lot of information about market situation and different business trend. This project is very helpful to identify the customer needs wants and demands. We havelearned a lot of about different scenario of market
11. REFERENCES Sunday market, Jinnah supper, commercial market
www.google.com
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 25
Business Plan
entrepreneur magazines
12. APPENDIX Pricing S.No
Products
Per unit sale price
1
Plan glass bangles
35
2
Embroidery or small glass pieces bangles
90
3
Painting bangles
80
4
Small hangings that are attached to bangles
120
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 26
Business Plan 5
Wood bangles
125
6
Ferrous metals bangles
135
7
Plastic bangles
60
8
Split, cylindrical spring opening/closing type of bangles
95
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 27
Business Plan
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 28
IN THE NAME OF ALLAH MOST MERCIFUL MOST BENEFICAL
Management Sciences Department At National University of Modern Languages and Sciences Islamabad, Pakistan Group :
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Roll. No
Page 1
Business Plan
Abstract All praises to almighty Allah who gave me courage, knowledge and determination to accomplish my tasks. We have studied various courses in this program but no one provided us opportunity to practical implementation of these courses. It is a task through which the student get knowledge of creating a business plan and what actually being done in the market and apply the knowledge that they gained through books. The main objective of writing this business plan is to create a new business which helps to maintain the new challenges that we face in practical business life. It is very informative and innovative through this students get a chance to observe and analyze the market as well as whole management process e.g controlling, leading, organizing and managing a new business. This
will
be
unique
experience
to
critically
analyze
circumstances,
opportunities and factors affecting the business life. It provides a guideline to start a new business. In this business plan, we able to know how to utilize the resources and howto manage customers. This opportunity provides us experience of direct public response and behavior towards newly entered business man. The purpose of this plan is to evaluate the performance of ours and give concrete recommendations for further improvements. The problem that we face during a business plan is brainstorming that provide us many innovative ideas but the main limitation to implement these ideas is our budget. We managed our budget in this way that is convenient and affordable for each group member. At the end, I would like to say thanks to all of my group who helped me during writing business plan and in the documentation. NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 2
Business Plan
Acknowledgements
“I dedicate the project to my teachers, Friends who remained the source of encouragement throughout.And I also dedicate it to flood affected people At the last I am very humbly raising my hands to pray for success in worlds, good health and long life of my parents and teachers whose encouragement and prayers enable me to complete my studies.”
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 3
Business Plan
Table of Content 1. Introduction
7
2.Executive Summary 2.1. Objectives 2.3. Mission
9 9
2.4 Keys to Success 3.
8
10
Business Description 11,12 3.1.
Why we are Different from Others? 13
3.2.
Financing
13
3.3. How we assure our profit?
13
3.4. Product 14 4. Marketing Strategies
15
4.1. Market Segmentation
16
4.2. Target marketing: 16 5.Sales Promotions 16 6. Competitive Analysis 6.1. Competition
18
18
6.2. Pricing Strategy
18
7. Symbolism of bangles
19
8. Operational/Management Plan 20 9. Financial Components
21
9.1. Income Statement (Estimated)22 9.2. Balance Sheet 10. Conclusion
24
11. References
24
23
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 4
Business Plan 12. Appendix 25
BUSINESS PLAN ON BANGLES
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 5
Business Plan
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 6
Business Plan
1.INTRODUCTION Think of eastern jewelry and the first thing that comes to mind is bangles.Bangles are traditional ornaments worn by all women, especially in subcontinent. They are circular in shape, and, unlike bracelets are not flexible. They are made of numerous precious as well as non-precious materials such as gold, silver, platinum, glass, wood, ferrous metals, plastic, etc. A newly invented Bangles are now running very successfully all over subcontinent namely Bengali Bangle, where pure gold strip is thermo-mechanically fixed on bronze base, and all associated designs are done onto it, it is not only cheaper than usual gold bangles, but becoming popular day by day because of variety of designs. Bangles are part of traditional jewelry. They are usually worn in pairs by women, one or more on each arm. Mostly women prefer wearing either gold or glass bangles or combination of both. Inexpensive bangles made from plastic are slowly replacing those made by glass, but the ones made of glass are still preferred at traditional occasions such as marriages and on festivals.The tradition of wearing glass bangles also engulfed the young, teenage, and unmarried women, as it is a strong traditional belief that it is inauspicious leaving their hands bare. The designs range from simple to intricate handmade designs, often studded with precious and semi-precious stones such as diamonds, gems and pearls. Sets of expensive bangles made of gold and silver make a jingling sound. The imitation jewelry, tend to make a tinny sound when jingled.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 7
Business Plan
Glass bangles are mostly produced in the old Indian city of Firozabad in North India. Hyderabad also has a historic market for bangles. In Pakistan glass bangles are produced mainly in Hyderabad, Pakistan.
2. Executive Summary Fashion jewelry bangle is owned by some students and the area we have selected is Kayabane-Sir Syed. It will provide the combination of excellent quality at value pricing with special discount and good atmosphere. We are providing bangles with best quality & standard in different size and stuff. Multi colors are available with reasonable price. Our bangles include combination of materials and decoration to give you truly impeccable styles of bangles. We will also tell you about bangle color meanings. That will help you at the time of getting special gift. Bangles are one of those things that attract peoples more and more and with the age of time peoples want unique and different styles according to fashion. Our product is usually inexpensive every one can purchase easily. We are offering glass, wood, ferrous metals, and plasticbangles and also providing bangles: a solid cylinder type; and a split, cylindrical spring opening/closing type. Primary distinguishing factor for these is the material that is used to make the bangles. This may vary anything from glass to jade to metal to lac and even rubber or plastic.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 8
Business Plan
Another factor that adds to the price of the bangles is the artifacts or the work done further on the metal. This includes embroidery or small glass pieces or paintings or even small hangings that are attached to the bangles. The rareness of a color and its unique value also increase the value. Bangles made from lac are one of the oldest ones and among the brittle category too The Fashion jewelry bangles financial picture is quite promising. The initial cost is significantly less than many start-ups these days. For the purpose of this pro-forma plan, the capital expenditures of facilities and equipment are financed. There will beaverage inventory on hand so as to meet the requirement of that area and to take advantage of price drops, when and if they should occur.
2.1.Objectives • To
establish
the
market
presence
needed
to
marketing and sales goals and to attract customers. • Satisfaction and positive feed back of customer • Increase no of outlets in local areas • To reach Rs 1,500 monthly sales and Rs 2,000 average monthly sales by the end of year. •
To achieve profit margins over 10-15%.
• To develop top-rated relationships with customers.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 9
Business Plan
2.2. Mission Fashion Jewelry Bangles is committed to providing the highest quality, and wellness products at low price. Our staff is friendly, eager to serve and ready to educate. And we deliver high quality product at reasonable prices.
2.3. Keys to Success The keys to success in this business are as follows: •
Primary distinguishing factor for these is the material that is used to make the bangles.
• The greatest locations - visibility, convenient access. •
Promoting a productto all community.
• Pricing effectively with respect to the quality and customer value proposition. •
The friendliest environment.
•
Product quality and material that
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 10
Business Plan
This business plan calls for an exciting, profitable start-up with future forecasted growth as we meet the demands of the community. In all, this plan describes a healthy company with good growth prospects, looking to manage its orderly growth in the near future.
3. BUSINESS DESCRIPTION Our business is about bangles and industry is about bangles. We choose this sector because the limitations are far away here and Eid event also give raise to our business. Fashion Jewelry Bangle is a single unit, small sized business. Which start as a simple sole proprietorship, owned by its founders. The founders of the Fashion Jewelry Bangles are six friends which focus on different issues of the business. The idea behind the business is to provide quality, unique and stylish product to the public in a friendly environment. It is based on providing consistent levels of service and quality products, and the values of NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 11
Business Plan
Quality, Service and fairness are important to all who work at Fashion Jewelry Bangles. All of us must provide a high level of customer satisfaction and maintain high standards and different design and different varieties of bangles of each category.
We are offering a product of different varieties in beautiful colors. Our customers are many of the young girls and students and for all ladies. It has a fixed place and outlets for selling the product and services. We decide to sell our products according to choice of people.
So
that
we
cover
all
women
without
any
class
discrimination, so our competitors can’t meet us. Most important to us is our financial success, but we believe this will be achieved by offering high-quality service and extremely fair, friendly environment. Fashion Jewelry Bangle offers high quality product to a growing community. At start up we will be open for 2:00 p.m. to 11:00 NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 12
Business Plan
p.m. Monday – Wednesday. We will consider opening earlier and serving to their customers if there is a demand, and if forecast and financial analysis can justify the increased costs.
Why we are different from others? • Quality • Customer Dealing • Healthy environment • Reasonable prices
3.1. Financing Initial financing is provided by partners, which was for the booking of stall Rs.2,000. An agreement was done between NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 13
Business Plan
Executives (CEOs). We are students but still we carried the burden of finance.
3.2. How we assure our profit? Assuring our profit is based on our survey which we had done in different ladies market and weekly markets couple of days ago. Another assurance is of our well organized business structure with skilled employees and workers.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 14
Business Plan
3.3. Product We want to focus only on selling a quality product. Because ladies always rely on quality and standard products. Fashion Jewelry Bangles promote the traditional culture and enhance their life style.
3.3.1. Product Description Fashion Jewelry Bangle’s main products are; Plan Glass bangles Embroidery or small glass pieces bangles Painting bangles Small hangings that are attached to bangles Wood bangles Ferrous metals bangles Plastic bangles A solid cylinder type of bangles Split, cylindrical spring opening/closing type of bangles
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
Page 15
Business Plan
4. Marketing Strategies 4.1. Market Segmentation Divide a market into a smaller group of ladies buyers with distinct needs.
4.1.1. Cultural Segmentation On the basis of cultural segmentation we offer bangles for Eid event, because ladies of different age in sub-continent are very curious to take jewelries and bangles on Eid event.
4.1.2. Demographic segmentation Dividing a market into groups based demographic variables such as age, gender etc. Demographic segmentation for Fashion Jewelry Bangles is quality and satisfaction for every female, everyday every age.
4.2. Target marketing Through market segments the firm evaluate the various segments and decide how many and which segments the firm can best. Fashion Jewelry Bangles target market is school, college’s girls, university and working women. In other words Fashion Jewelry Bangles are targeting all females without any age discrimination. Our product is useful and attractive for every age of women. NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
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Business Plan
4.2.1. Marketing positioning Fashion Jewelry Bangles hold strong reputation for high quality product. They aimed to satisfy consumers' demands, better and more profitably than their competitors.
5. Sales Promotions In order to our sale promotion program, we will need to and promote about Fashion Jewelry Bangles through electronic media, internet e.g. facebook and through mobile SMS.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
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Business Plan
6. COMPETITIVE ANALYIS 6.1. Competition The competitive analysis of our competitors is that they do have better source of funding, more interaction with people. But in their weaknesses department they do have poor management, quality product and as follow: Fashion Jewelry Bangles has several advantages over its leading competitors: Unique combination of colors. We expect a high degree of ion with friendly staff that reflects
the
Fashion
Jewelry
Bangle’s
youthful
and
energetic culture. Supply Discounts Community Benefit Quality Product
6.2. Pricing Strategy We provide a customer with a quality product at a competitive price and offer the customer with a more convenient method for obtaining their desired product.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
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7. Symbolism of Bangles Bangles are a type of ornament worn by women in subcontinent. Also called Kangan or Chudi in subcontinent, bangles come in various colors and are symbols of matrimony. A single bangle worn by woman is called a Kada and Kada is a circular shaped bangle and is made from iron, white metal or gold. It has religious significance for Sikhs. In whole world and especially in subcontinent, bangles are very popular and with growing fashion trends, have become a highly popular in their various designs and forms. No longer are bangles just made in a circular shape with glass. Today, bangles are made from various materials and can be found in many shapes such as round, rectangular, oval etc. Worn in pairs, one on both arms, bangles are colorful, beautiful, and enhance the beauty of women who wear them. Gold, silver, wood, ferrous metals, plastic, rubber, and glass among other things are used extensively to make bangles. However, tradition demands that women of subcontinent wear gold and glass bangles or only gold or glass bangles. Gold bangles studded with semi-precious gems, or diamonds, pearls or just plain gold bangles with pretty designs are popular with women in India. The range of these bangles can range from downright simple to extremely intricate. Generally, a single bangle is adorned by women across the world in various variations such as bracelet. But in other regions such as the Arabian Peninsula and South Asia, bangles have been evolved into a wide range and each is used for different occasions.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
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Business Plan
Firozabad in Uttar Pradesh, India is the single largest producer of glass bangles. Hyderabad, capital of Andhra Pradesh State, also has a historic bangle market called Laad Bazar. In Pakistan, glass bangles come from Hyderabad (Pakistan). Bangles have been a part of the Indian culture for many centuries, but the new trendy bangles are more versatile than ever before. Available just bout anywhere, designer bangles are even sold in malls, jewelry shops. But the real deal is the glass bangles…a pious symbol of matrimony. Here’s a look at what the various colors mean. No.
Bangle Color
Meaning
1
Red
Energy
2
Blue
Tranquility/Wisdom
3
Purple
Independence
4
Green
Luck/Married Status
5
Yellow
Happiness
6
Orange
Success
7
White
New Beginnings
8
Black
Power
9
Silver
Strength
10
Gold
Fortune
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
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Business Plan
8. OPERATIONAL/MANAGEMENT PLAN Fashion Jewelry Bangles management team is led by Waseem Murtaza Hussain, which is a small business and will be relatively flat one, since the majority of personnel are involved in sales and marketing and there will be a relatively low headcount in production due to nature of product. Over all group will have six and all can do full time job. Our team is based on responsibilities and mutual respects. Group has an environment and structure that encourages productivity and respect for customers and fellows. There are two functioning groups within thisbusiness such asSales and Marketing. •
Waseem - General and istrative function.
•
Saud, Marrium, Alvina- Sales
•
Saima- Marketing
•
Naila – Finance
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
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Business Plan
9. FINANCIAL COMPONENTS To arrive at the average 3 days fixed costs, the calculated fixed costs for by using the average price per unit, less the average cost per unit, divided into the fixed costs of operation, which concludes that we will need to sell at least the number of units shown in the following chart to reach break-even within three days.
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
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Business Plan
9.1. Income Statement (Estimated) Fashion Jewelry Bangles Income Statement For The Period of _________
Expected Sales Less Cost of Goods sold 000 Gross Profit:
Rs.10, 000 Rs.5, Rs.5, 000
Less: Operating Expenses NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
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Business Plan
General expenses
Rs.1, 000
Operating income
RS.4, 000
Less other expenses Rent expense
RS2,000
Net income
Rs 2,000
9.2. Balance sheet Fashion Jewelry Bangles Balance Sheet As on---------------ASSESTS
Cash
6,000
Rs. LIABILITIES
Expenses
Rs.
5,000
Reserves4,000Capital 5,000
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
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Business Plan
10. CONCLUSION 1stof all thanks to ALLAH this project has been completed. We have really enjoyed this project. It is very helpful to get a lot of information about market situation and different business trend. This project is very helpful to identify the customer needs wants and demands. We havelearned a lot of about different scenario of market
11. REFERENCES Sunday market, Jinnah supper, commercial market
www.google.com
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
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Business Plan
entrepreneur magazines
12. APPENDIX Pricing S.No
Products
Per unit sale price
1
Plan glass bangles
35
2
Embroidery or small glass pieces bangles
90
3
Painting bangles
80
4
Small hangings that are attached to bangles
120
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
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Business Plan 5
Wood bangles
125
6
Ferrous metals bangles
135
7
Plastic bangles
60
8
Split, cylindrical spring opening/closing type of bangles
95
NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
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NATIONAL UNIVERSITY OF MODERN LANGUAGES MANAGEMENT SCIENCES DEPARTMENT
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