School enterprise Challenge Business Idea Web view̅ Geeta Narang (Lead teacher)Created as part of...

WisdomHigh International School , cambridge , India

BUSINESS PLANWritten byMahekdeepRai ,EshamKaranjikar ,Pratishtha Kapoor , IshitaBhandari∧Anushka Patil (STUDENTS TEAM)

Geeta Narang(LEAD TEACHER)

CREATED AS PART OF THE SCHOOL ENTERPRISE CHALLENGE AWARDS PROGRAMME – BRONZE LEVEL

Section A: Our Business Details

Business Name1-A-R-K (One Act of Random Kindness)

Business Activity To sell “Handicrafts” made out of waste and other materials. These will be designed or customised products which will be made by training the underprivileged, tribal and disabled people from different villages and NGOs in and around our city. We will be designing and branding these products as per the market requirements.

Main product / service Handicrafts

No. of students involved in business planning activities (including writing this Business Plan)

Boys: 5 Girls: 11 Total: 16

Financial SummaryOur Local Currency is: INR US Dollars$

Period of time budgeted for 1 year 1 year

Total Income(Estimated) 305,500 4,888 USD

Total Costs (Estimated) 99,000 1,584 USD

Profit (Estimated) 206,500 3304 USD

Start-Up Costs (Estimated) 39,500 632 USD

Section B:Market Research and Target Market

1. Here is a description of theMarket Research done by us, includinghow many peoplewe spoke toWe had carried out primary research by means of questionnaires which included the following questions.

1)Do you purchase handicrafts? (Please underline) Yes/No2)How much do you plan to spend on handicrafts?

1BRONZE Business Plan Template 2017. ©Teach A Man To Fish

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o Up to Rs. 500o Up to Rs. 2000o Up to Rs. 5000o Up to Rs. 10,000o More than Rs. 10,000

3) How often do you buy handicrafts? o On specific ocassionso Once in a montho Once in six monthso Few times a yearo Very rarely

4) Where do you usually buy handicrafts? o Exhibitionso Specialized storeso Directly from the artist o Onlineo If others, please specify:

5) What kinds of handicrafts do you prefer? Mostly Occasionally Never

Needlework and Thread workPotteryMosaic/GlassJute workBamboo workBead workOthers, specify

6) What is the purpose of you buying handicrafts? o Personal useo Gifting (Personal) o Gifting (Corporate) o Decoration o If others, please specify:

7) Are you looking forward to customized handicrafts, i.e., handicrafts that suit your taste? o Yeso No

8) Do you look for brand names while buying handicrafts? o Every timeo Occasionally o Never

9) What are your expectations from the handicrafts, when you buy them? (Tick as many as you want) o Attractive o Good quality o Durable


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o Reasonable Costo Suits taste and preference o Exchange/Refund available o If others,please specify:

10) What type of designs do you look for when you buy a handicraft? o Traditional o Contemporary/Modern o Fusion o Geometric designs o Bright colourso Uniqueness o Lace workso If others, please specify:

11) Do you look forward to benefit the underprivileged people of the society through your purchase? o Yes, alwayso Sometimes o Rarelyo No, not interested o Yes, only if the product satisfies my expectation

2. These are the results of our Market Research, includingwho is going to buy our product/service and why they will buy it.

Question 2 - How much do you plan to spend on handicrafts?

Details frequency percentageUp to RS 500 200 40%up to Rs 2000 149 29.80%up to RS 5000 80 16%up to Rs 10000 51 10.20%More then Rs 10,000 20 4%

frequency

Upto RS 500 upto Rs 2000 upto RS 5000upto Rs 10000 More then Rs 10,000


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Question 3 How often do you buy handicrafts?Details frequency percentageOn specific occasions 220 44%Once in a month 40 8%Once in six months 50 10%few times a year 140 28%very rarely 50 10%

44%

8%10%

28%

10%

Frequency of purchase of handicrafts

On specific occasions Once in a monthOnce in six months few times a yearvery rarely

Question 4- Where do you usually buy handicrafts?Details frequency percentageExhibitions 200 40%Specialized stores 180 36%Directly from the Artist 60 12%Online 20 4%Others specify 40 8%

40%

36%

12%4% 8%

Place of purchase

ExhibitionsSpecialised storesDirectly from the ArtistOnline Others specify


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Question 5- What kind of Handicraft do you prefer?Kinds of handicraft weighted score average score RankNeedle work 660 1.32 4Pottery 560 1.28 5Mosaics 450 0.9 6Jute work 900 1.8 1Bamboo 780 1.2 3Bead work 850 1.7 2Others 0 0

Needle work

Pottery Mosaics Jute work Bamboo Bead work Others0

100200300400500600700800900

660560

450

900780 850

0

Frequency of Type of handicrafts prefered.

Question 6- What is the purpose of you buying handicrafts?Purpose Frequency PercentagePersonal use 200 40%Gifting ( personal ) 120 24%Gifting ( corporate) 100 20%Decoration 80 16%others 0 0%

40%

24%

20%

16%

Purpose of buying hand-icrafts.

Personal useGifting ( personal )Gifting ( corporate)Decoration others

Question 7 - Are you looking forward to customized handicrafts? customized handicrafts frequency percentage


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Yes 350 70%No 150 30%

Yes No0

100200300400

Preference for customised handicrafts.

frequency percentage

Question 8- Do you look for brand names while buying handicrafts?Look for brand name frequency percentagesEvery time 80 16%Occasionally 200 40%Never 220 44%

E v e r y ti m e O c c a s i o n a l l y N e v e r

80

200 22016%

40% 44%

Brand name in handi craftsfrequency percentages

Question 9-What are your expectations from the handicrafts you buy?Expectations Frequency percentage RankAttractiveness 450 90% 4Good quality 480 96% 3Suits one's taste and preference 500 100% 1Durable 400 80% 5Reasonable cost 500 100% 1Exchange/ refund 300 60% 6


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Attrac-tiveness

Good quality Suits one's taste and

preference

Durable Reasonable cost

Exchange/ refund

0

100

200

300

400

500

450 480 500400

500

300

Expectations from Handicrafts

Questions 10- What types of designs do you look for when you buy a handicraft?Designs expected frequency rankTraditional 380 3Contemporary/ modern 360 4Fusion 420 2Geometric 220 6Bright coloured 219 7Lace works 356 5Uniqueness 480 1

Traditional

Contemporary/ m

odernFusio

n

Geometric

Bright c

oloured

Lace w

orks

Uniqueness0

100

200

300

400

500

Prefered designs

Questions 11- Do you look forward to benefits the underprivileged people of the society through your purchase?

Help through purchase frequency percentageYes, Always 150 30%Sometimes 80 16%Rarely 50 10%No, Not Interested 10 2%

Yes, Only if the product satisfiesmy expectations 210 42%


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30%

16%10%2%

42%

frequency

Yes, AlwaysSometimesRarelyNo, Not InterestedYes, Only if the product sat -isfiesmy expectations

Section C: Competitors and Competitive Advantage

3. These are our main competitors and their strengths and weaknesses.

Competitor Name Strengths Weaknesses

Local Handicraft shops Better knowledge and

understanding of current market conditions, demand and market behaviour patterns.

Do not sell customized products.

Product quality is generally low.

Mass production

Handicraft wholesalers Low selling prices. Various kind of handicrafts

available as products are bought in bulk.

Economies of scales

Product quality is generally low leading to lower consumer satisfaction

No focus on customer satisfaction focus is on sales.

National Brands More variety High quality Competitive prices

Cant offer what the customers want

No customisation High prices

Online sellers Easy availability Availability of all brands under

one roof Economies of scale

No customisation Mass selling High prices

4. Our competitive advantage – This is why we are going to be better than our competitors:

1) We aim to provide customized products, some of which will be mass-customized and the remainder will be expected to be specifically ordered.


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2) We aim to produce high quality products by increasing the efficiency in production.3) Our primary objective is to give an opportunity to underprivileged, tribal and disabled people

from different villages and NGOs in and around our city, people with artistic skills in them and give them a platform to come up and learn how to earn a living and that is how we fulfil the objective of “Teach a man how to fish”.

4) Products will be at a competitive price.

Section D: SWOT Analysis

5. This is our SWOT Analysis.

Strengths – What are our business’ strengths?1) We have a sound organisational structure.2) It is easier for us to employ labour force

for the operations of the business.3) Labour force is relatively efficient since we

are making use of specialisation and division of labour.

4) Designer products.5) Customised products.6) Available easily, even online.

Weaknesses – What are our business’ weaknesses? 1) The business is new and will require

extensive marketing leading to higher costs.

2) The business has to face a lot of popular competitors and therefore, survival will be one of the business objectives rather than business growth.

Opportunities – What opportunities do we have for our business?

1) The increasing interest of people in handicrafts.

2) The increasing awareness among people to support underprivileged people in society.

Threats – Do we face any threats to our business? 1) Well-established firms with multiple

operations.2) Maintaining high quality can increase costs

in the short run.

Section E: Operational Plan

6. These are the one-offtaskswe will need to do to actually start up our business:

Fund Raiser activities:1) Family Fun Day2) ‘Run for a cause’ - Marathon3) Box Cricket4) Lil-Flea


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7. These are the daily, weekly and monthly tasks we need to do to actually run our business:

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).


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Managing Director (Teacher:Geeta ma'am)Teacher: Ashwini Ma'amOperationsTeacher: Pooja Ma'amTeacher: Padmapriya ma'amTask How long does it take? How often?Daily/Weekly/Monthly

Who?Who will be responsible

Finance Management During every event Weekly Mahekdeep Rai

Marketing 3 months Weekly Ishita Bhandari

Sales Execution 3 months Weekly EshamKaranjikar

Human Resource and Administration

3 month Monthly AnushkaPatil

Operations 3 months Weekly Pratishtha Kapoor

Collecting Sponsorships

Before every fun raiser event

Monthly Nishant AgrawalArya Karnawat


Section F: Marketing and Sales Plan

9. These are our 4 P’s (Product, Price, Place, Promotion).

a) P roduct – Our products are handicrafts like cane baskets, warli panted clthes, jewellery, diwali diyas etc. We aim to produce different types of handicrafts to allow for diversification and spread the risks of the business. Products will be designed by our team and made by underprivileged, tribal and disabled people from different villages and NGOs in and around our city. They will be branded and then sold.

b) P rice – We will sell it at this price:A detailed analysis of the price of every kind of product has been provided in the financial plan. We plan to make use of competitive pricing and so different websites, local and international brands have been taken into considerations to provide price comparisons. This will help us to remain competitve in the market.

c) P lace – We will sell our product/service at this place:The target market for our products is the city of Nashik. We will sell our products in local shops, malls, exhibitions and online

d) P romotion – We will promote our product/service by: Door-to-door publicity Good-word-of-mouth as a result of consumer satisfaction During fund-raiser events Pamplets and leaflets In newspapers (when substantial profits are earned)


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Appendix Section: Students in ActionPlease find in this space 3 pictures (when possible) that clearly

shows our involvement as students in ourbusiness planning activities.

FINANCIAL PLAN

1. Income (estimated)

NAME OF PRODUCT OR SERVICE

QUANTITY SALES PRICE SALES INCOME (Quantity x Sales Price)

Needlework’s 100 units 700 INR 70,000 INR

Threadworks 80 units 650 INR 52,000 INR

Glass Mosaic 120 units 650 INR 78,000 INR

Jute and Bamboo Works

90 units 350 INR 31,500 INR


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Pottery 80 units 550 INR 44,000 INR

Customized products 30 units 1000 INR 30,000 INR

TOTAL SALES INCOME 305,500 INR

2. Costs (estimated)

NAME OF ITEM QUANTITY COST PER ITEM TOTAL COSTS (Quantity x Cost per Item)

Sewing Kit 40 units 300 INR 12000 INR

Glue Gun 60 units 300 INR 18000 INR

Brush Kit 20 units 200 INR 4000 INR

Set of Paints 20 units 500 INR 10000 INR

Yarn and Knitting Needles

10 units 1500 INR 15000 INR

Embroidery Threads 10 units 1000 INR 10000 INR

Clay 15 units 3000 INR 30000 INR

TOTAL COSTS 99,000 INR

3. Profit (estimated)

OurLocal Currency

TOTAL SALES INCOME 305,500 INR

TOTAL COSTS 99,000 INR

PROFIT (Total Sales Income – Total Costs)

2,06,500 INR

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-up

EQUIPMENT& SUPPLIES

NAME OF ITEM QUANTITY COST PER ITEM TOTAL COST (Quantity x Cost per Item)

Crochet Hooks 10 units 500 INR 5,000 INR

Pottery Tools 15 units 750 INR 11,250 INR


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Glass Cutter 10 units 220 INR 2,200 INR

Work Gloves and safety glasses

15 units 800 INR 12,000 INR

Stencils 5 units 370 INR 1,850 INR

Stationery 10 units 550 INR 5,500 INR

Tape Measure 5 units 350 INR 1,750 INR

TOTAL EQUIPMENT& SUPPLIES START-UP 39,550 INR

b) Equipment we don’t need to buy as we own/have access to: We are looking forward to producing jute and bamboo artifacts from some local tribes, who will have access to all materials required for such artifacts cheaply as well as easily. Therefore, we will not be investing in the procurement of these raw materials. The base for glass mosaics could be pottery artifacts, which would reduce additional cost for bases, thus increasing cost efficiency. The fabric for needlework and threadworks along with glass will be provided from the students’ households, leading to recycling of resources, which reduces costs and makes the products more environmentally-friendly.

c) We will get the Start-Up capital needed for our business by: The start-up capital will be provided by sponsors like hotels and business corporations in the local area, where one department will solely be appointed for sponsorship opportunities. Fund-raising events like games, food stalls and fun fairs will also give the finance required to begin the operations of the business.

Additional comments:The cost per item has been deduced from the website “amazon.in” which helps provide prices of competitors so that we can make use of competitive pricing. However, prices can be subject to change as the wants of the customers might keep changing or unavoidable circumstances affect the sale in the local area.


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Our Local Currency used : Indian National Rupee (INR)

Exchange rate to US Dollars: 0.016 USD


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.PleasechooseONEoption 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) 2. Work better with people with different opinions to theirs 3. Have improved their team working ability, e.g. if other team members were struggling

they offered support to them

4. Are more confident analysing information 5. Are more able to use their ideas to organise and plan work in order to reach their goals 6. Are more able to look at different ways to solve a problem and are more confident in

selecting a solution

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 Communication Aspiration Confidence Decision making Other – Please specify:

Problem solving

Team work

2. Do you feel the activities helped students improve their performance in other subjects at school? You can choose more than one option.

No Yes, in ScienceYes, in Maths Yes, Other – Please specify: Implementation of concepts in subjects like

Business Studies, Accounting and Economics. Yes, in Writing &

Reading

3. Have the students used the skills learned through the school business planning outside school?


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NoI don’t know

Yes – Please specify: Managing personal budgets, organising events, better analysis of needs and wants.

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 Programme by logging in to your account at: www.schoolenterprisechallenge.org/login


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School enterprise Challenge Business Idea Web view̅ Geeta Narang (Lead teacher)Created as part of...

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