Final Enterprenuer
-
Upload
zunaira-azhar -
Category
Documents
-
view
218 -
download
0
Transcript of Final Enterprenuer
-
7/27/2019 Final Enterprenuer
1/19
1
the little charmer
-
7/27/2019 Final Enterprenuer
2/19
2
TABLE OF CONTENTS
CHAPTER 1: COMPANYS OVERVIEW
CHAPTER 2: ORGANIZATIONAL STRUCTURE:
CHAPTER 3: MARKETING PLANS:
CHAPTER 4: FINANCIAL PLAN:
CHAPTER 5: CONCLUSION
-
7/27/2019 Final Enterprenuer
3/19
3
Chapter 1: Companys overview
Executive summary:
Popular culture is no longer regional. The advent of cable television, syndicated
radio programs, and the Internet has created a world where a fashion
statement in Pakistan. The speed of our telecommunication system has
increased young customers' expectations and demands for products thatrepresent their own cultural statement.
This kids clothing store business plan details how elfin will offer young mothers
customers the trendy pus traditional products and clothing that are desired but
not available locally.
The target customer are mothers with girls from age 2-8years (initially), who
wants stylish girlie goods for their princess. Elfin will provide the distinctiveclothing, and planning to offer shoes and products that are just ahead of the
fashion curve.
Elfin plans to achieve a 60% product awareness among the target audience
within the first year of operation and establish a 20% market share within the
first six months.
Sales target of Rs.100, 000 before the end of the financial year.
To attain constant annual growth of 10% revenue in each year of operation.
Elfin will offer fashion-oriented products and clothing that are popular in the
large urban areas but not currently available locally. Partners, of Elfin, will
create a cost-effective operation that will quickly bring new alternative clothing
and products to the customer. Elfin is all about exclusive and off-beat casual,
semi-formal, formal and traditional wear for the young fashionistas.
-
7/27/2019 Final Enterprenuer
4/19
4
Description
For your sprightly little and mischievous one, Elfin provides a magical range of
vibrant clothing that will make your little one stand out.
At Elfin, We believe in blending numerous colours into a cohesive palette, using
the perfection of intricate attention to detail; making clothing experience both
fun and classy for kids.
ELFIN;
The Philosophy:
Elfin is a small ,cheerful, agile and mischievous one having an over-worldly and
magical quality to charm.
We know that your little one is your little Elfin and when it comes to dressing
them up, we are as particular as you are. This is why Elfin has come up with
perky yet classy clothing for kids that will make them protrude from the crowd.
-
7/27/2019 Final Enterprenuer
5/19
5
Mission
The mission of elf in is to offer distinctive qual i ty products, and designs that are not
readil y available for gi r ls in Pakistan to our target customers.
-
7/27/2019 Final Enterprenuer
6/19
6
Keys to Success
Accessible store where you always find something new that you want. Excellent online (Facebook/mobile) relationship that will facilitate quick of orders. Establish an effective strategy for advertising to our target customers. Create a brand image that our target customer sees as both attractive and trendy.
Company logo:
"the little charmer"
-
7/27/2019 Final Enterprenuer
7/19
7
CHAPTER 2: ORGANIZATIONAL STRUCTURE:
Company Ownership:
Its a partnership based of three equal partners.
Management Summary:
Zunaira Azhar will manage the production (buying, stitching, designs and inventory) of the
brand with consultation of other partners. On the other hand Anam Hashmi with her
marketing skills will deal with the branding and advertising and sales of the products. Madiha
Hassan will be working as a silent partner and also as a major investor to the brand. The
combination of these two business students Anam and Zunaira with their deep understanding
of business and market make elfin uniquely qualified to understand the demands of his target
customers.
Personnel Plan:
Elfins management philosophy is based upon responsibility, mutual respect, andprofitabilityand the partners believes that the company's present and future growth are based upon:
Exceptional People Social Responsibility Uncompromising Commitment to Customer Service Excellence Commitment to Core Values
Elfin will have a staff of three: production manager (Zunaira Azhar) marketing manager
(Anam Hashmi) finance manager (Madiha Hassan) along with business consultant Talha
Aziz
We expect only three full-time employees for the first year. Subcontractors might be used to
help with sales and marketing. As we expand, we expect to hire on more full-time staff to aid
in marketplace research, web design and analytics, and business development.
Personnel Plan Profit Division
Manager1 100/3
Manager 2
Manager 3
Total People 3
Total Payroll 33%
Cur rent Employees:
Initially the only employees will the managers As the company grows, more personnel will
be added as needed.
-
7/27/2019 Final Enterprenuer
8/19
8
Organizational chart:As it is a partnership based company there is no such unbending level of structure and formal
relationship but in times of final decision making and conflict resolution Madiha Hassan the
finance manager is made CEO of the company.
CEO
ProductionManager
MarketingManager
-
7/27/2019 Final Enterprenuer
9/19
9
CHAPTER 3: MARKETING PLANS:
Elfin objectives:
To achieve a 60% product awareness among the target audience within the first year ofoperation.
To establish a 20% market share within the first six months. To achieve a sales target of Rs.100, 000 before the end of the financial year. To attain constant annual growth of 10% revenue in each year of operation.
Market Segmentation:
Each market has its own different segments. Understanding the relevant segments for your
product(s) in your market is important, for they allow you to adjust your marketing mix to
better adapt to the different needs of each segment.
For elfin, the market segment that is targeted is children (girls in particular) from the age of
2-8 years whose parents want them to get dressed in an elegant yet fashionable manner.
What is the ratio of the targeted customer in overall market
demographics?
(Source: http://www.indexmundi.com/pakistan/age_structure.html )
As per recent demographics, 34.7% (male 33,941,828/female 32,130,001) range from 0-14
years of age. Whereas it can be evidently seen from the above figure that the population from0-4 and then 5-9 years accounts for good majority of the population.
http://www.indexmundi.com/pakistan/age_structure.htmlhttp://www.indexmundi.com/pakistan/age_structure.html -
7/27/2019 Final Enterprenuer
10/19
10
What, exactly, this segment wants and needs.Children of this age now a days themselves are very conscious about what they wear and hoe
they look but parents specially mothers are particular decision making authorities for children
of this age group. Mothers are now a days looking for good designing and classy, edgy pluselegant touch in the frocks or other girls wear.
This need was extracted after interviewing many mothers plus personal shopping experience
was the main reason that provoked the idea of Elfin.
The best ways to advertise to and communicate with this segment.Best way to reach this market segment is by promoting it on web, physical advertisement like
billboards etc plus children magazines. But due to budget constraints, elfin is not able to
invest much in marketing for the starters, but soon will be using some of these tactic.
Elfin SWOT Analysis
Strengths
Customer need (Elfin) there is a
huge customer need for cutting
edge clothing for children.
Cost Advantages (Elfin) Lower
costs lead to higher profits for
Elfin. A low cost leader canundercut rivals on price.
Unique Products (Elfin) Unique
products help distinguish Elfin from
competitors. Elfin can charge higher
prices for theirproducts, because
consumers cant get those products
elsewhere.
Weaknesses
Lack of Scale (Elfin) A lack of
scale means Elfins cost per unit
of output is very high. Increasing
volume, while maintain quality,
would help reduce those costs.
Budget constraints (Elfin) As forthe beginning, Elfin is facing
budget constraints to compete in
the market of well established
child wear brands.
Opportunities
Online Market (Elfin) The online
market offers Elfin the ability to
greatly expand their business. Elfin
can market to a much wider
audience for relatively little
expense
Innovation (Elfin) Greater
Threats
Intl Competition
(Elfin) International competitors
are numerous and difficult to
combat, because they can have
many competitive advantages that
give them an advantage overElfin
Mature Markets (Elfin) Mature
http://www.wikiwealth.com/swot-strength:elfin:customer-needhttp://www.wikiwealth.com/swot-strength:elfin:cost-advantageshttp://www.wikiwealth.com/swot-strength:elfin:unique-productshttp://www.wikiwealth.com/swot-weakness:elfin:lack-of-scalehttp://www.wikiwealth.com/swot-weakness:elfin:budget-constraintshttp://www.wikiwealth.com/swot-opportunity:elfin:online-markethttp://www.wikiwealth.com/swot-opportunity:elfin:innovationhttp://www.wikiwealth.com/swot-threat:elfin:intl-competitionhttp://www.wikiwealth.com/swot-threat:elfin:intl-competitionhttp://www.wikiwealth.com/swot-threat:elfin:mature-marketshttp://www.wikiwealth.com/swot-threat:elfin:mature-marketshttp://www.wikiwealth.com/swot-threat:elfin:intl-competitionhttp://www.wikiwealth.com/swot-threat:elfin:intl-competitionhttp://www.wikiwealth.com/swot-opportunity:elfin:innovationhttp://www.wikiwealth.com/swot-opportunity:elfin:online-markethttp://www.wikiwealth.com/swot-weakness:elfin:budget-constraintshttp://www.wikiwealth.com/swot-weakness:elfin:lack-of-scalehttp://www.wikiwealth.com/swot-strength:elfin:unique-productshttp://www.wikiwealth.com/swot-strength:elfin:cost-advantageshttp://www.wikiwealth.com/swot-strength:elfin:customer-need -
7/27/2019 Final Enterprenuer
11/19
11
innovation can help Elfin to
produce unique products and
services that meet customers
needs.
New Services (Elfin)New serviceshelp Elfin to better meet their
customers needs.
New Products (Elfin)New
products can help Elfin to expand
their business and diversity their
customer base.
International Expansion
(Elfin) International markets offer
Elfin new opportunities to expand
the business and increase sales.
markets are competitive. In order
for Elfin to grow in a mature
market, it has to increase market
share, which is difficult and
expensive.
Volatile Costs (Elfin) Volatile
costs mean Elfin has to plan for
scenarios where costs are
skyrocket. Cautious planning will
lead to avoid this situation.
The Marketing Mix
The marketing mix is a business tool used in marketing and by marketing professionals. The
marketing mix is often crucial when determining a product or brand's offering, and is often
synonymous with the four Ps:price,product,promotion, andplace; in service marketing,
however, the four Ps have been expanded to the Seven Ps or eight Ps to address the different
nature of services.
In recent times, the concept offour Cs has been introduced as a more customer-drivenreplacement offour Ps. And there are two four Cs theories today. One is Lauterborn's four
Cs (consumer, cost, communication, convenience), another is Shimizu's four Cs
(commodity, cost, communication, channel).
Product
The main product of Elfin is children wear, girls wear in particular.
It includes a whole range of Casual, Semi-formal and Formal range of children wear that
includes:
-Frocks
-Tops
-Shalwar kameez
-Shirts and Trousers
-Dresses
Here are some pictures from the shoot of the current Eid collection that is in stock.
http://www.wikiwealth.com/swot-opportunity:elfin:new-serviceshttp://www.wikiwealth.com/swot-opportunity:elfin:new-productshttp://www.wikiwealth.com/swot-opportunity:elfin:international-expansionhttp://www.wikiwealth.com/swot-opportunity:elfin:international-expansionhttp://www.wikiwealth.com/swot-threat:elfin:volatile-costshttp://www.wikiwealth.com/swot-threat:elfin:volatile-costshttp://www.wikiwealth.com/swot-opportunity:elfin:international-expansionhttp://www.wikiwealth.com/swot-opportunity:elfin:international-expansionhttp://www.wikiwealth.com/swot-opportunity:elfin:new-productshttp://www.wikiwealth.com/swot-opportunity:elfin:new-services -
7/27/2019 Final Enterprenuer
12/19
12
-
7/27/2019 Final Enterprenuer
13/19
13
-
7/27/2019 Final Enterprenuer
14/19
-
7/27/2019 Final Enterprenuer
15/19
15
Supply chain:
Promotion
A promotional plan can have a wide range of objectives, including: sales increases, new
product acceptance, creation of brand equity, positioning, and competitive retaliations. The
main objectives of promoting Elfins products are:
To present information to consumers as well as others. To increase demand. To differentiate a product.
The promotion strategy is to use web, social networking physical advertisement like children
magazines.
Production
manager
Raw
material
purchase
Production Packing
Shelfing/Onlineorders
DelievryPaymentprocess
-
7/27/2019 Final Enterprenuer
16/19
16
CHAPTER 5: FINANCIAL PLAN:
Cash flow statement shows the available cash calculate from projected cash accumulations
minus projected cash disbursements.
CASH FLOW STATEMENT ELFIN
Rs.
STARTING CASH BALANCE 0
SOURCES OF CASH
Owners' Cash Capital Injections 60,000
TOTAL CASH INFLOWS 60,000
Raw material 30,000
Labor salary 20,300
Hangtags/Woven labels 7000
Accessories 2000
TOTAL CASH OUTFLOWS 59,300
CHANGE IN CASH 700
ENDING CASH BALANCE 700
-
7/27/2019 Final Enterprenuer
17/19
17
INCOME STATEMENT
Revenue Amount
Sales 5000
Net sales 5000
Cost of SalesAmount
Beginning inventory 0
Plus goods purchased/manufactured 59300
Total goods available 59300
Less ending inventory 54300
Gross profit (loss) 5000
Operating ExpensesAmount
Labor salary 20,300
Hangtags/Woven labels 7000
Accessories 2000
Total operating expenses 29300
Net income before taxes (24300)
Taxes on income 0
Net income after taxes (24300)
Net Income (Loss) (24300)
Shows the net profit calculated from projected revenues minus projected costs and expenses
-
7/27/2019 Final Enterprenuer
18/19
18
BALANCE SHEETSummarizes the projected assets, liabilities and net worth of new venture
Assets
Current assets: 2013
Cash 0
Investments 60000
Inventories 0
Accounts receivable 0
Pre-paid expenses 0
Total current assets 60000
Fixed assets: 2013
Property and equipment 0
Leasehold improvements 0
Equity and other investments 0Less accumulated depreciation 0
Total fixed assets 0
Total assets 60,000
Liabilities and owner's equity
Current liabilities: 2013
Accounts payable 0
Accrued wages 0
Accrued compensation 0
Income taxes payable 0
Unearned revenue 0
Total current liabilities 0
Owner's equity: 2013
Investment capital 60,000
Total owner's equity 60000
Total liabilities and owner's equity 60,000
-
7/27/2019 Final Enterprenuer
19/19
19
CHAPTER 5: CONCLUSION
This report introduces the basic model of the newly made firm Elfin that is looking or its
unique place in the market. We presented information about the marketing, financial and
organizational plans of Elfin. The future of this business is dependent on the vision plus the
practicality of the efforts put.
Elfins competitors with apparel industry which is widely varied. Direct competitors are other
established brand manufacturers, such as outfitters, Minnie minors, breakout and pepper land,
the closest competitor in terms of popularity, growth and product line is outfitters.
The companys management is confident that Elfin can achieve its sales objective at the end
of the first financial year.Due to the company's aggressive marketing strategy, establishmentof the company as a "unique" entity in its industry, careful development of its products
coupled with strategic partnerships with some of the industry's retail clothing outlets, and the
company's profitable revenue model, Elfin has the potential to provide lucrative returns to
potential investors., Elfin should be able to achieve operational success for many years tocome.