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K.R. Mangalam World School , INDIASCHOOLNAME ,COUNTRY
BUSINESS PLAN
Written byTRISHA ,BHUMIKA ,KARAN ,VANYA ,VIKRAM , SHRAVAN
MS. MONIKA TALUKDAR,MS.PRIYA SHARMALEADTEACHERS
CREATED AS PART OF THE SCHOOL ENTERPRISE CHALLENGE AWARDS PROGRAMME – BRONZE LEVEL
Section A: Our Business Details
Business Name Recraft ‘O’ Nation
Business Activity Creating a sustainable environment for a cleaner andgreener world
Main product / service
Medicinal and ornamental plants,Stationery & decorative Gift items (From Waste Materials)
No. of students involved in business planning activities (including writing this Business Plan)
Boys—25 Girls—15 Total--40
Financial SummaryOur Local Currencyis:INR US Dollars$
Period of time budgeted for
4 Months
Total Income(Estimated)
18,850 295.0
Total Costs (Estimated)
14,250223.0
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Profit (Estimated) 4,600 72.0
Start-Up Costs (Estimated)
14,230 222.7
Section B:Market Research and Target Market
1. Here is a description of theMarket Research done by us, includinghow many peoplewe spoke to.
Above activities helped us to decide upon many aspects of our business plan for E.g. type of customers whom we can approach, pricing strategy, packaging, logistics, seasonality, market etc.
Market Research help us to understand basic fundamental of Business as:
1.
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Market survey questionnaire involved 10 questionsQuestionnaire was distributed to studentsStudents interviewed individuals, housing societies, schools, institutions and nurseries 100 survey sample sizeSurvey data analyzed by the marketing team & our Mentors Who is going to buy your product or service and why they will buy itMarket Research Methodology
SURVEY ANALYSIS:
Q1. How often do you buy plants?
every month every three months
once in six months
once a year0
5
10
15
20
25
30
35
40
45
50
percentage
Scale:Response in %
Scale:Response in %
Q2. What range of amount do you prefer while buying plants?(in INR)
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below INR 40 INR 40-80 INR 80-120 INR 120 and above
0
5
10
15
20
25
30
35
40
45
percentage
Scale:Response in %
Q3. What variety of plants do you prefer?
ornamental plants
medicinal plants
flowering plants
others0
5
10
15
20
25
30
35
40
45
percentage
Scale : Re-sponse in %
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Q4. Do you prefer handmade stationery made out of re-used material?
yes no maybe0
5
10
15
20
25
30
35
40
45
50
percentage
Scale:Response in %
Q5. Maximum amount you are willing to pay for handmade stationery?(in INR)
below INR 50 INR 50-100 INR 100-150 INR 150 and above
0
10
20
30
40
50
60
percentage
Scale:Response in %
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Q6. On which occasions do you buy gifts?
weddings festivals birthdays others0
5
10
15
20
25
30
35
40
percentage
Scale:Response in %
Q7. From where do you prefer buying gifts?
malls local market gift shops
stalls from weekly markets
online shopping portals
0
5
10
15
20
25
30
35
percentage
Scale:Response in %
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Q8. What do you consider while gifting the product that you purchase?
quality appearance price utility0
5
10
15
20
25
30
35
percentage
Scale:Response in %
Q9. Do you require products in bulk on some occasions?
yes no on festivals others0
5
10
15
20
25
30
35
40
45
percentage
Scale:Response in %
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Q10. Do you prefer products and services delivered at home?
yes no sometimes0
5
10
15
20
25
30
35
40
45
50
percentage
Scale:Response in %
MARKET SURVEY QUESTIONNAIRE(SAMPLE)
Please fill in your personal details: NAME: AGE: EMAIL: SEX(M/F): RESIDENTIAL ADDRESS:
-----------------------------------------------------------------------------------------------------------------
Q1. How often do you buy plants ?(a) Every month(b) Every three months(c) Once in six months(d) Once a year
Q2. What range of amount do you prefer while buying plants?(In INR)(a) Below Rs.40(b) Rs.40-80(c) Rs.80-120(d) Rs.120 and above
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Q3. What variety of plants do you prefer ?(a) Ornamental plants (b) Medicinal plants(c) Flowering plants (d) Others( mention if any) __________
Q4. Do you prefer handmade stationery made out of re-used material?
(a) Yes(b) No(c) Maybe
Q5. Maximum amount you’re willing to pay for handmade stationery? (In INR)(a) Below Rs.50(b) Rs.50-100(c) Rs.100-150(d) Rs.150 and above
Q6. On which occasion do you buy gifts?(a) Weddings (b) Birthdays(c) Festivals (d) Others(mention if any)___________
Q7. From where do you prefer buying gifts ?(a) Malls (b) Local market gift shops(c) Stalls from weekly markets(d) Online shopping portals
Q8. What do you consider while gifting the product that you purchase? (a) Quality (b) Appearance (c) Price (d) Utility
Q9. Do you require products in bulk on some occasions ?(a) Yes (b) No (c) On festivals (d) Others
Q10. Do you prefer products and services delivered at home ?(a) Yes(b) No(c) Sometimes
2. These are the results of our Market Research, includingwho is going to buy our product/service and
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whythey will buy it.
1. Most people prefer to buy ornamental and medicinal plants within the range of INR 40 to 80 regularly.
2. People prefer handmade stationery made out of re-used material but willing to pay a maximum of INR 50.
3. People buy gifts on the basis of its price mostly from local gift shops on birthdays and such occasions.
4. On festivals, most people buy gifts in bulk.5. Most people prefer products and services delivered to their home.
Section C: Competitors and Competitive Advantage
3. These are our main competitors and their strengths and weaknesses.
COMPETITOR NAME STRENGTHS WEAKNESSES
MALLS*Offer standardised wide variety
*Branded and International products.
*Highly priced
*Not aceessibleeverytime
LOCAL MARKET/GIFT SHOP*Centrally located in themarket.*Share a good rapport with the customers
*Offer regular products that are easily available.
*No ‘Customization’
Online sites*International variety
*Wide consumer base
*Services of home delivery and easy returns
*Default on delivery
*Default on payment
*Loss of privacy and threat of intellectual rights damage.
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4. Our competitive advantage – This is why we are going to be better than our competitors:
Competitive advantage is the leverage that a business has over its competitors. This can be gained by offering clients better and greater value. Advertising products or services with lower prices or higher quality interest’s consumers. Target markets recognize these unique products or services.
Section D: SWOT Analysis
5. This is our SWOT Analysis.
STRENGTHS – What are our business’ strengths?
• Relationship Selling• Low Price• Eco Friendly• Lower Employment Cost
WEAKNESSES – What are our business’ weaknesses?
• Economies of Scale• Brand power• Seasonality
OPPORTUNITIES – What opportunities do we have for our business?
• Alliance & Cobranding• Educated Community• Quick access to Customer issues• Increased investment opportunities
THREATS – Do we face any threats to our business?
• Customer Choice• Just “another start-up reputation”• Liquidity Crunch
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Eco friendly Low Prices Customized & Unique in
sense
Section E: Operational Plan
6. These are the one-oftaskswe will need to do to actually start up our business:
1. The finance system will be set up that will allow us to procure all the factors of production
required for running our business through our fund raising activities.
2. Ensuring consistent supply of raw material.
3. Formation of Business team.
4. Guiding towards our mission” Save more, Grow More”.
5. Deciding on storage facility.
6. Designing eco-friendly packing.
7. Awareness to masses through social media, advertising through different forms like, parent
teachers meeting, annual meetings, fairs etc.
8. Invitation to different schools at the time of launch event of products.
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7. These are the daily, weekly and monthly tasks we need to do to actually run our business:
Task How long does it take? How often?Daily/Weekly/Monthly
Who?Who will be responsible
Formation of a business team.
1 week Once Board of directors
Mission statement and designing of our logo.
1 week Once Marketing & Designing team
Collection of waste from our Pantry, Store, students etc.
15 minutes Daily Production Team
Setting up Finance System.
15 days Once Finance Team
Marketing (Advertisement and Social Media)
2-3 weeks Daily Marketing Team
Planning of our launch event.
1 week Once Board of Diretcors,sales and marketing team
Designing of our packaging material.
1 week Once Packaging & Distribution team
Making Compost. 3 months Daily Production team
Growing Saplings 1 month Daily Production team
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8. Our business team structure – Here are the names and positions of the business team members with a reference if they are teachers/students and a diagram of our business team structure (when possible).
Section F: Marketing and Sales Plan
• These are our 4 P’s (Product, Price, Place, Promotion).
• P roduct – Our product/service Is Medicinal and ornamental plants, Stationery & ornamental Gift items (From Waste Materials) such as
Folders, Notepads, Cloth Bags, Pen stand, Bookmarks, Paper Weight, Photo frame, Money, Envelops, Flower Vases etc.
Our Brand Name: Recraft ‘O’ Nation
OUR LOGO :
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Purchase Head(Ansh)PR Head(Vaanya)
Tagline : “SAVE MORE, GROW MORE”
USP : Eco – friendly , low cost, affordable and attractive
Packaging : Done by handmade paperbags
Labelling : Ecofriendly mark, price, item name and other information will be put on paper bags by putting stickers
• P rice – We will sell it at this price:Name of Product or Unit Price(INR)
ServicePlants 60
Folders 35Notepads 20Cloth Bags 25Pen stand 25
Bookmarks 15Paper Weight 20Photo frame 30
Money Envelops 10Flower Vases 30
PRICING STRATEGY : Our pricing strategy is panetration prices which means pricing strategy where the price of a product
is initially set low to rapidly reach a wide fraction of the market and initiate word of mouth. The strategy works on the expectation that customers will switch to the new brand because of the
lower price. We have considered various direct costs, indirect costs and profit margin to make the business
profitable.
• P lace – We will sell our product/service at this place:
PLACE: *we will set stalls to sell our product in school premises where parents coming to the school can
easily visit . * we will set stalls to sell our product in nearby societies at weekends and on fairs and fetes
organised on various festivals.
TRANSPORTATION:School vans and local transport.
WAREHOUSING:School storeroom.
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CHANNELS OF DISTRIBUTION:Direct marketing or zero level marketing i.e. the business of selling products or services directly to the public.
• P romotion – We will promote our product/service by:
• ADVERTISEMENT: Pamphlet/ banners• PERSONAL SELLING : Students will be setting stalls in societies on Fairs/festivals.• SALES PROMOTION : Cash Discounts & Quantity discount• PUBLICITY : Articles in local papers, use of social media
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Appendix Section: Students in Action
Please find in this space 3 pictures (when possible) that clearly shows our involvement as students in ourbusiness planning activities.
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FINANCIAL PLAN
1. Income (estimated)NAME OF PRODUCT
OR SERVICEQUANTITY SALES PRICE (INR) SALES INCOME (INR)
(Quantity x Sales Price)Plants 150 60 9,000 Folders
50 35 1,750 Notepads
70 20 1,400 Cloth Bags
50 25 1,250 Pen stand
40 25 1,000 Bookmarks
70 15 1,050 Paper Weight
40 20 800 Photo frame
20 30 600 Money Envelops
50 10 500 Flower Vases
50 30 1,500 TOTAL SALES INCOME 18,850
2.Costs (estimated)NAME OF ITEM QUANTITY COST PER ITEM TOTAL COSTS
(Quantity x Cost per Item)
Wage to Gardner 4,000
Packaging & labelling 900
Tailoring Cost 1,100
Saplings120 25
3,000
Seed packets45 10
450
Pots120 20
2,400
Total Direct Cost 11,850
Transportation 1,000
Brochure/Banners 500
Stationery 400
Staff Welfare 500 Total Indirect Cost 2,400
TOTAL COSTS 14,250
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3.Profit (estimated)Our Local Currency(INR)
TOTAL SALES INCOME 18,850
TOTAL COSTS 14,250
PROFIT (Total Sales Income – Total Costs)
4,600
4. Start-Up Budget (estimated)Our Start-Up Budget is the costs of the Equipment and Supplies that we will need to start our business.
a) Equipment& Supplies Start-upEQUIPMENT& SUPPLIES
NAME OF ITEM QUANTITY COST PER ITEM TOTAL COST (INR) (Quantity x Cost per Item)
Saplings 150 20 3,000
Seed packets 10 50 500
Pots 150 25 3,750
Spiral Binding 50 20 1,000
Staplers 40 20 800
Scissors 40 20 800
Tapes 40 22 880
Decoration Material 100 35 3,500 TOTAL EQUIPMENT & SUPPLIES START-UP 14,230
b) Equipment we don’t need to buy as we own/have access to:Computers, Printers, Vans and Buses, Scrap, Land and Premises, Generator, Interent etc.
c) We will get the Start-Up capital needed for our business by:30,000 Indian Rupeesis the start-up capital we need to start our business. We decided toconduct the following fund-raising activities :
1.Old Story Books collection drive – We sent an email to all parents asking them to donate their old story books in order to give a boosting start to our business enterprise. We would then beselling these old story books into other societies & fairs. Around 363 Books were received which were sold at @20 per book raising a capital of about Rs.7,260.
2. Football Match Collection – In addition to above drive we have conducted open 7 vs 7 knockout matches. 16 teams got registered.
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Registration charges Rs 2,100/team (After bearing an expenses for refreshment & Prizes) the net fund raised Rs 22,740.ADDITIONAL FINANCING OPTIONS:The shares for the directors of the business (students and two teachers ) with 10 shares issued at Rs. 100 per share.
The shares are classified as a normal voting shares to ensure ownership control with the directors. There will jot be a liquid market for shares to be traded as the shares. Each share will receive a quarterly dividend to the discretion of directors.
Our Local Currency used : INR
Exchange rate to US Dollars: 63.90
Your opinion matter to us and we want to make sure the Awards Programme works for you. Please ask your teacher to fill in the following section. ONLY SCHOOLS THAT COMPLETE THIS SECTION WILL BE ELIGIBLE FOR AN AWARD.Pleasechoose ONEoption in each row.
A. STUDENTS’ IMPROVEMENT ON SKILLS
After going through the activities to develop the Business Idea and Plan do you feel your students...
Did not improve
Stayed the
sameImproved
1. Are more confident speaking in front of other people (e.g. during market research) Improved
2. Work better with people with different opinions to theirs Improved
3. Have improvedtheir team working ability, e.g. if other team members were struggling they offered support to them
Improved
4. Are more confident analysing information Improved
5. Are more able to use their ideas to organise and plan work in order to reach their goals
Improved
6. Are more able to look at different ways to solve a problem and are more confident in selecting a solution
Improved
B. YOUR OPINION ON THE SCHOOL BUSINESS PLANNING PROCESS
1. Through the school business planning process, which skills do you think students improved/gained the most (max 3):
Leadership Improved Communication AspirationConfidence Improved Decision making Other – Please specify:Problem solving Improved Team work
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2. Do you feel the activities helped students improve their performance in other subjects at school? You can choose more than one option.
Yes, in ScienceYes, in Maths Improved Yes, Other – Please specify: commerce students improved practical
knowledge of the topics they have studied theoretically in accountancy ,economics and business studies.
Yes, in Writing & Reading Improved
3. Have the students used the skills learned through the school business planning outside school?
NoI don’t knowYes – Please specify: Yes,The students have participated enthusiastically. It is an amazing opportunity for them to know the entrepreneurial skills in school curriculum practically.They also social skills as leadership and team work.
CONGRATULATIONS on writing your Business Plan! You can now GET STARTED and put all your learning into action! Now is the time for you to actually run your business!
Remember to submit your completed business plan to the School Enterprise Challenge Awards sProgrammeby logging in to your account at: www.schoolenterprisechallenge.org/login
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