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Akansha answered on
Oct 26 2020
Business Plan 1
Name of the student:
Name of the institution:
Roll No:
Date of submission:
Executive Summary
The following report looks at the Business Plan of SmartCycle, which is an innovative organisation, that aims to sell smart scooters and motorcycles, which are based on the latest technology and use the Internet Of Things technology. The following plan looks at the business, in terms of the registration, GST number, type of business and products offered by the business. It looks at the market, which has the list of competitors, the S.W.O.T Analysis and the Marketing mix of the organisation, which is based on the 4P Model. The Market Analysis also looks at the advertising and sales, along with the industry analysis. The plan looks at the future of the organisation, where the Vision Statement, Mission Statement, Goals/Objectives and Action Plan have been mentioned. It also looks at the finances, which includes the start-up cost, balance sheet forecast, profit and loss forecast, as well as the Break-even analysis of the organisation.
Contents
Business Plan Summary 5
The Business 5
The Market 6
The Future 6
The Business 6
Business Details 6
Registration Details 7
Business Premises 7
Organisation Chart 8
Management and Ownership 9
Key Personnel 9
Products/Services 13
Innovation 15
Insurance 15
Risk Management 15
Legal Considerations 16
Operations 16
Sustainability Plan 19
The Market 20
Market Research 20
Market Targets 20
Environmental/Industry Analysis 21
Your Customers 21
S. W. O. T. Analysis 21
4P Model 22
Your Competitors 23
Advertising and Sales 26
The Future 29
Vision Statement 30
Mission Statement 31
Goals/Objectives 32
Action Plan 32
The Finances 34
Key Objectives and Financial Review 34
Assumptions 35
Finances 35
Start-up costs 35
Balance Sheet Forecast 35
Profit or Loss Forecast 36
Break-even Analysis 36
References 37
Business Plan Summary
The Business
Business Name: SmartCycle Corp.
Business Structure: Partnership
ABN: 596124380758
ACN: 357 992 886
Business location: India, The main manufacturing and assembling plant would be in Tamil Nadu and Gujarat. This is because there have been various incentives that have been promised to the company by the government, which makes it easier to set-up the plant there. Secondary assembling plants have also been set-up in Maharashtra and West Bengal, as it was found that the labour force in the states has been known to be cheaper in the region as well. There have been market or floor spaces in most major cities, such as Ahmedabad, Pune, Mumbai, Gurgaon, Delhi, Chennai, Bangalore and Kolkata.
Date of Establishment: 2018
Business Owners: The main owners would be Mr Vinayak Nair, who has been the main designer and is the CEO of the organisation. The other owner would be Mr Pawan Munjal, who is the CEO of the Hero Motorcorp. Mrs Sobha Naik, would be the Managing Director, who would be in charge of the sales, marketing and office affairs, would also have partial shares, and thus, ownership in the organization. Mrs Raina Susan, who is in charge of manufacturing, design and assembly, also has partial shares and ownership in the organization as well. Thus, there are two main owners, and two partial owners of the organization.
Relevant Owner Experience: Owners have more than 50 years of experience in the field combined.
Products/Services: SmartCycle Pro, SmartCycle Pro Sccoter, SmartCycle Pro Womaniya.
The Market
Target Market: Affluent motor and technology enthusiasts.
Marketing Strategy: Marketing Mix. IMC Strategy.
The Future
Vision Statement: Achieve the world.
Goals/Objectives: Make Profit
The Business
Business Details
Products: The product that is sold by the organization is a smart motor cycle and motor scooter. The smart motor cycle or motor scooter will have smart features. The expected demand for the product will be extremely high, since it would have innovative features, which make it completely different from the motor cycles and scooters from other organizations. The product is expected to have a smart embedded GPS tracking system, which would be beneficial for delivery agents. It would have intelligence seats and finger-print lock. The product would be connected to the IOT or Internet of Things as well. It would be possible for the motorcycles and the scooters to be able to sync to the tablets or phones, and have a heads-up display, which would make it unique in the Indian market. While there has been the innovation of having a smart motorcycle in other countries, this is the first time that it has been launched in India. The product and the features that are offered are completely new and unique in the Indian market, which is why it is innovative, and much needed in the market.
Registration Details
Business name: SmartCycle
Trading name: Smtcyc
Date Registered: 20 October 2018
Location(s) Registered: Delhi, Maharashtra, Gujarat, Tamil Nadu and West Bengal.
Business Structure: The proposed business is that it would be in partnership with Hero Honda. The organisation would be run and be in complete autonomy, but the major investor, and thus, partner, would be involved in many decisions as well.
ABN: 596124380758
ACN: 357 992 886
GST: The organisation is registered for Goods and Services Tax in both Australia and India. The organisation was registered on 15 October, 2018.
Domain Names: SmartCycle.com, SmartCycle.in, SmartCycle.org, SmartCycle.au
Licences and Permits: The licenses and permits that are acquired by the organization include Industrial License, State Government License, Manufacturing License and Endorsement License.
Business Premises
Business Location: The main business location, where the bulk of the manufacturing and assembling would happen would be in India. This is because it would be easier to sell the product in the country, as the government has made various provisions in their Make In India scheme. The main manufacturing and assembling plant would be in Tamil Nadu and Gujarat. This is because there have been various incentives that have been promised to the company by the government, which makes it easier to set-up the plant there. Secondary assembling plants have also been set-up in Maharashtra and West Bengal, as it was found that the labour force in the states has been known to be cheaper in the region as well (Sca
orough, 2016). There have been market or floor spaces in most major cities, such as Ahmedabad, Pune, Mumbai, Gurgaon, Delhi, Chennai, Bangalore and Kolkata. Further plants, and floor spaces will be decided according to the future sales in the market. However, most major cities, with large amounts of people with spending power, have been looked at.
Buy/Lease: Since one of the main investors and partners is Hero Corp, the organization has had ample funds in order to have a lease. The lease has been set for 5 years for the manufacturing plant, and 2 years for the assembling plants. The lease has been set at Rs 5 lakh per month for the manufacturing plant, and at Rs 10 lakh per month for the assembly plant (Chen, Yao and Kotha, 2009).
Organisation Chart
Source: Self-developed
Management and Ownership
Name of the owners: The main owners would be Mr Vinayak Nair, who has been the main designer and is the CEO of the organisation. The other owner would be Mr Pawan Munjal, who is the CEO of the Hero Motorcorp. Mrs Sobha Naik, would be the Managing Director, who would be in charge of the sales, marketing and office affairs, would also have partial shares, and thus, ownership in the organization. Mrs Raina Susan, who is in charge of manufacturing, design and assembly, also has partial shares and ownership in the organization as well. Thus, there are two main owners, and two partial owners of the organization.
Details of management & ownership: As the partial and majority owner, Mr Vinayak would act as the CEO himself. He has 51% voting and ownership share in the organization. Mr Pawan would have 29% of the shares. Mrs Sobha and Mrs Raina would have a 10% share in the organization, which they would forfeit if they left the organization in 20 years of employment (Dollinger, 2008).
Key Personnel
The key personnel in the organisation have been listed, as in the table that is given below.
Job Title
Name
Expected staff turnove
Skills or strengths
Marketing Manage
Mrs Sobha naik
20 years at the most
Bachelors in Marketing and Advertisement, along with Bachelors in Accounting and Commerce from Wharton. MBA in Marketing from IIM Ahmedabad. 15 years of experience, of which 5 have been in a major automobile company. Excellent knowledge of the industry, and the field. Has immense experience in selling and marketing products to the Indian consumer, as well as the consumer a
oad, if the organisation chooses to expand a
oad.
Sales Manage
Mrs Sobha Naik
20 years at most
Bachelors in Marketing and Advertisement, along with Bachelors in Accounting and Commerce from Wharton. MBA in Marketing from IIM Ahmedabad. 15 years of experience, of which 5 have been in a major automobile company (Zacharakis, Spineeli and Timmons, 2011). Excellent knowledge of the industry, and the field. Has immense experience in selling and marketing products to the Indian consumer, as well as the consumer a
oad, if the organisation chooses to expand a
oad.
Office Manage
Mrs Sobha Naik
20 years
Bachelors in Marketing and Advertisement, along with Bachelors in Accounting and Commerce from Wharton. MBA in Marketing from IIM Ahmedabad. 15 years of experience, of which 5 have been in a major automobile company. Excellent knowledge of the industry, and the field. Has immense experience in selling and marketing products to the Indian consumer, as well as the consumer a
oad, if the organisation chooses to expand a
oad.
Design, Assembly and Manufacturing manage
Mrs Raina Susan
20 years
Degree in Automobile engineering and design from IIT Kharagpur. Has been in the business designing motorcycles and cars for many major organisations for the past 15 years (Russell, Atchison and Brooks, 2008). Knows the demands of the Indian consumer, and the demands of the roads and the climate of India.
Required Staff
The following are the required staff for the organisation.
Job Title
Quantity
Expected staff turnove
Skills necessary
Date required
Office Staff
20
2 years
Degree related to office management. Minimum 3 years of experience.
Decembe
Sales Staff
50
2 years
Graduated from High School
May
Assembly Staff
30
5 years
Graduated from high school, with experience in assembling automobiles, or relevant degree in engineering.
Decembe
Manufacturing and Design Staff
25
5 years
Design staff should have experience in automobile or motorcycle design, or a relevant degree from a recognised university.
Manufacturing staff should have passed high-school, or have a relevant engineering degree. They should have 5 years of experience in the manufacturing of automobiles and should be smart, as they would have to handle robots most of time as well.
Decembe
Recruitment Options
The main recruitment option would be advertisement in the relevant newspapers. Campus recruitment can be done, but the organisation should keep in mind that many of the students will not have the relevant experience, and should thus, be hired wisely.
Products/Services
Product/Service
Description
Price
Smart Cycle Pro
The smart cycle pro would be a smart motorcycle that would have many features, which would include embedded GPS tracking system, Biometric Intelligent seats, Finger Print lock, heads up display for navigation system, wearable accessories, inbuilt SOS system and Mobile phone charging dock (Burns and Dewhurst, 2016).
Rs 2.5 lakh
Smart Cycle Pro Scoote
The smart cycle pro scooter would be a smart scooter that would have many features, which would include embedded GPS tracking system, Biometric Intelligent seats, Finger Print lock, heads up display for navigation system, wearable accessories, inbuilt SOS system and Mobile phone charging dock.
Rs 1.5 lakh
Smart Cycle Womaniya
The smart cycle Womaniya would be a smart scooter for women, that would have many features, which would include embedded GPS tracking system, Biometric Intelligent seats, Finger Print lock, heads up display for navigation system, wearable accessories, inbuilt SOS system and Mobile phone charging dock. It would have colour options in the design and could be customised at an extra cost.
Rs 1.5 lakh
Market position: The products are high-end luxury, smart motorcycles and scooters.
Unique selling position: The products are unique in the way that they are created, which is why they will be sold.
Anticipated demand: The demand for the products would be at a 1000 units per month.
Pricing strategy: The pricing is on...