Dispenser Business Plan

Posted: March 10, 2015 | Author: ALYSSA♥HO | Filed under: ♥ Subject | Leave a comment

Business Plan

Content 

• Executive Statement
  • Business Overview
  • Vision Statement
  • Business Objectives
  • Opportunities and Threats
  • Exit Strategy
• Business Summary
  • Key People
  • Advisors
• Market Analysis
  • Market Research
  • Types of Customers
  • Types of Product and Service
  • Marketing and Promotion
  • Main Competitors
  • Key Suppliers
• Financial Projections
  • Sales Forecast
  • Direct Costs

5.0 Start up and Funding

• Executive Statement

1.1 Business Overview

Skincare dispenser offers a compact mobile design with huge flexibility.

The liquid handling system has been developed to sustain durable damage and repetitive aqueous dispensary. This convenient device is the solution for busy travellers were time is essential. Requiring almost no time to set up and get used to. It allows rapid delivery of any desired dosage, saving time, energy, minimising waste of valuable samples and skincare products. Targeted at men and women as the following is compatible with this product such as toners, cleaners, moisturisers, medicated skincare and more.

A rotational button is featured with fully working syringes inspired from medical experiments using titration to rotate one of six syringes for verity of samples.

Needle point nozzle ensure precision and accurate dispensing results without backfill, capable of disassembly to clean or replace.

A high level of quality assurance is the basis for reliable and consistent service in our products in low volume dispensing.

By focussing on the trend of niche and social medial for marketing we will feature ‘favourite of the month’ voted by our consumers, calculated by the votes of people who took part in a poll every month on our website. Favourite maybe include, serums, toners and more skincare products compatible with OneLoveVoyage.

• Vision Statement

We believe that by providing a premium skincare dispenser for precision and accurate use all the time is essential. There is a major demand in the market, we can offer customers the best of both worlds with price and quality to ensure the best satisfaction.

By offering individual compartments to store each aqueous solutions we do not risk cross-contamination. Ultimately, we want to promote caring for our skin hygienically even if time is a factor, also supporting charity causes such as skin cancer and local charities.

• Business Objectives

Short Term: We aim to grow the business by 5-7% each month increasing total sales by the end of the first year of £7527.19. This equates to selling 18 OneLoveVoyage’s per month, 221 by the first year.

Long Term: We would look to expand the company with more partnerships and flow into more mainstream retail shops with point of sales. Following successful expansion in the local region, we would develop on our website using html5/java/c# programming for easier navigation and simpler payment methods. Objectively partnering with high street brands to achieve notability and produce interesting point of sale to peacock self and partnering companies.

• Opportunities and Threats

Opportunities

• Unique and limited skincare product.
• Aesthetically pleasing to the eye comes in different colours.
• Lightweight and mobile
• Offers multiple samples
• Future development on model

Threats

• Limited niche market
• Only UK sourced

• Exit Strategy

Best

As stated in the Business Objective, our overall aim is to make this product a success during launch. Then look into driving sales up with marketing campaigns and developing our website. Partnership with big brands to drive more sales with point of sale next to sponsor such as NuSkin or Herbal Life. If this is achieved, productivity will be monitored closely to ensure profits rise consistently.

Worst

If we fail to achieve our forecast projections within six months, we will monitor and audit activates on a daily basis. We will review our sales and profit every fortnight, and to conduct a serious review on position. If we are under target, we will re-examine our policy, publicity and marketing strategy. If changes at this point do not drive the company into profit by the end of the first year, then we will reimburse any outstanding debts which should be minimal and cease to trade.

• Business Summary
  • Key People

Ho Ka Yiu

Job Title: Owner, Founder, Company Director

From working on designing the latest innovation concepts to managing marketing campaigns, I’m used to dealing in pressured environments and managing people.

Jame Ittisan

Job Title: Chief Information Officer

Managing and upgrading the finance function and compiling data for assessment. Ensuring correct connections dealing with manufacturing and completion process.

• Advisors

We currently are looking for two advisors to work with us on this project.

Junaid Asif, from Asif Marketing Direct, to assist in creation of promotion and sales.

Baddy Singh, from IPIA, to assist in completion of manufacturing package and product.

A business advice and account manager from the bank.

A mentor in business from the Welsh government.

• Market Analysis
  • Market Research

Conducting the following research has allowed us to validate our business idea and approach.

The facial skincare market was valued at over £73 Billion in 2015 and predicted to climb to £93 Billion by 2020.

Growth in the population in the UK aged 55+ presents an opportunity for the facial skincare market, as female consumers of this age primary tend to use facial moisturisers and anti-ageing products.

High-ended prices and high brand status define prestige products, typically sold behind counters in department stores with specialised sales assistants. These brands include, Dior, Clinique and Lancôme.

Mass products are more typically priced at the lower end, can be purchased in self-serve formats in retail outlets and high street chemists such as Boots. These brands include Vaseline, Olay, and Nivea.

The ‘lipstick effect’ has taken a strong toll in the facial skincare sector where prestige product brands in particular have had a healthy sales rate around of 8.5% to 11.5% between 2011 and 2013.

We have carefully priced our products, taking care to ensure we remain competitive but also turn a good profit.

We have conducted research into the number of people who uses and are interested about skincare products by offering a short questionnaire over a period of time. We have used this information to assist us in pricing and notability of one product.

Out of all averages 65% of participants knew most of the brand names. 13% of the people asked used E45. 48% of the people asked used NO7. 17% of the people asked used Olay. The least popular is Bioeffect. 4% of all the people asked used Bioeffect.

When asked on average how much do they spend on skincare products for every three months, out of all, 75% participants tend to spend mostly around £30-£60 despite some in the higher ranges up to £60-£120.

When asked if they sunbathed, 65% of the people tend to say yes, when asked how often. Only a few said more than once a week.

When asked if they used the tanning booth, most participants said no.

When asked if they used sun screen regularly, 80% participants said yes but only a low number of SPF.

When asked if they would consider purchasing a skincare product as a gift, 65% of participants said they would purchase a gift leading up to £60 or more.

In this questionnaire women accounted for more than 65% of the answers, the average price men spends on facial product is roughly £25 every two weeks.

• Types of Customer

We have built a general profile for customers in the local group.

• Most are aged between 24 and 55.
• Employed or Student living with parents or alone.
• 23% are men. 77% are women.
• Interested in benefiting skincare.
• Internet shoppers likely to make a purchase.

 

• Types of Product and Service

Our product is specially priced to best match the competitors. Materials produced from safe flame retardant polymers to ensure quality standards. This guarantees non-toxic plastics to be safe to use and is not a chemical hazard. We can offer a housing replacements from different kinds of materials, syringes and nozzles can also be picked up online. Which will be posted via 1^st class delivery with Yodel.

We offer giveaways and polls which our customers can take for favourites of the month.

• Marketing and Promotion

There are three key points to carefully observe to ensure each key point is successful and completed professionally at the best of our standards.

The main points of advertising will be;

• Promote company via social media such as Twitter, Facebook and word of mouth to friends and family.
• Inform people what we are selling and how we will be supporting charities on the side.
• Announcement of lunch date.

Main Competitors

There are a few major corporations such as Kimberly Clark who deals in multi billion pound deals annually.

This will be our main competitor, plus the people who chooses to replicate this product.

Advantages:

• Well-known globally.
• Competitively reasonable priced.
• Locally sourced and delivered.

Disadvantages:

• Only fixed wall dispensers.
• Limited choice of products.
• Single use products.
• Eco products are heavily inflated.

• Key Suppliers

Our initial supplier for the manufacturing the product and packaging was based in China, due to price influx we are unable to proceed. We have found a manufacturer that will produce both the product and packaging in Pakistan,

Al-Shafi Enterprises,

Shop # 8 and 9 Arshi Square Rook Road, Karachi, Pakistan

Al-Shafi Enterprises offers to manufacture the packaging for 18p per unit.

Tradeline International,

G9 Aslam Mansion, Temple Road, Karachi, Pakistan

Danish Ali from GM sales and marketing, Behria Town Lahore has given us a quote of 2162 PKR which equates to 13.67 GBP per unit for manufacturing the product components.

Yodel is the key supplier for assisting with shipping and delivering the product from the manufactures to the storehouse. They have given us a quote of 40p shipping and 9p delivering costs per unit.

• Financial Projections
  • Sales Forecast

From one month we aim to sell 18 products per month which is the target projection.

We are trying to expand the business each month by about 5%, by year three we aim to achieve sales of 200units per month and 2400 units per year.

Achieving at least 30% net growth by end of the first year of £7,527.19, Following year two of £22,280.60, and year three of £81,6820. These projections are excluding partnership campaign profits and equity.

Our sponsors and partners estimated increase of total sales by 20-40%, partnership with Nuskin assist us in promotion for social media sales and to assist us in increasing our net growth to over £10,000 by the first year.

• Direct Costs

Raw material of Profax (Poly-propylene) results to 40% of the production cost of each part of the components. Totalling up to 850 grams, this equates to £13.67 for the material and manufacturing costs, plus the packaging direct cost is 18p per unit. Totalling up to 13.85 for manufacturing the product and packaging.

5.0 Start up and Funding

The Enterprise Finance Guarantee should assist us in the start-up and the funding of the business. Applying for a Welsh Government Start-up Funding Scheme would be a one of the priorities to create additional funds for our business for revenue generation. The business will have a range of assets that we will be purchasing at start up. We are also looking for any relevant grants to assist in starting the OneLoveVoyage business.

We would register with the companies house also get trademarked at the intellectual property office. Get certified and regulated by the European Commision, Enterprise Europe Network for CE marking and UK Trades Descriptions Act: 1968. Build a business networking line with the trade associations and chambers of commerce. Contact with the Community Development Finance Institutions to assist in back up funds. If we get declined our secondary source of funding would come from the Enterprise Finance Guarantee.

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RSA Toy Design Ideas

Posted: March 3, 2015 | Author: ALYSSA♥HO | Filed under: ♥ Subject | Leave a comment

Toy Design concept in hand sketching rendering.

This is my first concept for my product Idea.

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