Business Plan

IN THE NAME OF ALLAH MOST MERCIFUL MOST BENEFICAL

Management Sciences Department At

National University of Modern Languages and Sciences

Islamabad, Pakistan

Group Members: Roll. No

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Business Plan

Abstract

All praises to almighty Allah who gave me courage, knowledge and determination to

accomplish my tasks. We have studied various courses in this program but no one provided us

opportunity to practical implementation of these courses. It is a task through which the

student get knowledge of creating a business plan and what actually being done in the market

and apply the knowledge that they gained through books.

The main objective of writing this business plan is to create a new business which helps to

maintain the new challenges that we face in practical business life. It is very informative and

innovative through this students get a chance to observe and analyze the market as well as

whole management process e.g controlling, leading, organizing and managing a new business.

This will be unique experience to critically analyze circumstances, opportunities and factors

affecting the business life. It provides a guideline to start a new business. In this business plan,

we able to know how to utilize the resources and howto manage customers.

This opportunity provides us experience of direct public response and behavior towards newly

entered business man. The purpose of this plan is to evaluate the performance of ours and give

concrete recommendations for further improvements.

The problem that we face during a business plan is brainstorming that provide us many

innovative ideas but the main limitation to implement these ideas is our budget. We managed

our budget in this way that is convenient and affordable for each group member.

At the end, I would like to say thanks to all of my group members who helped me during

writing business plan and in the documentation.

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Acknowledgements

“I dedicate the project to my teachers, Friends who remained the source

of encouragement throughout.And I also dedicate it to flood affected

people

At the last I am very humbly raising my hands to pray for success in

worlds, good health and long life of my parents and teachers whose

encouragement and prayers enable me to complete my studies.”

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Table of Content 1. Introduction 7

2.Executive Summary 8

2.1. Objectives 9

2.3. Mission 9

2.4 Keys to Success 10

3. Business Description 11,12

3.1. Why we are Different from Others?13

3.2. Financing 13

3.3. How we assure our profit?13

3.4. Product 14

4. Marketing Strategies 15

4.1. Market Segmentation 16

4.2. Target marketing: 16

5.Sales Promotions 16

6. Competitive Analysis 18

6.1. Competition 18

6.2. Pricing Strategy 18

7. Symbolism of bangles 19

8. Operational/Management Plan 20

9. Financial Components 21

9.1. Income Statement (Estimated)22

9.2. Balance Sheet 23

10. Conclusion 24

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11. References 24

12. Appendix 25

BUSINESS PLAN ON BANGLES

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1.INTRODUCTION

Think of eastern jewelry and the first thing that comes to mind is bangles.Bangles are traditional ornaments worn by all women, especially in subcontinent. They are circular in shape, and, unlike bracelets are not flexible. They are made of numerous precious as well as non-precious materials such as gold, silver, platinum, glass, wood, ferrous metals, plastic, etc. A newly invented Bangles are now running very successfully all over subcontinent namely Bengali Bangle, where pure gold strip is thermo-mechanically fixed on bronze base, and all associated designs are done onto it, it is not only cheaper than usual gold bangles, but becoming popular day by day because of variety of designs.

Bangles are part of traditional jewelry. They are usually worn in pairs by women, one or more on each arm. Mostly women prefer wearing either gold or glass bangles or combination of both. Inexpensive bangles made from plastic are slowly replacing those made by glass, but the ones made of glass are still preferred at traditional occasions such as marriages and on festivals.The tradition of wearing glass bangles also engulfed the young, teenage, and unmarried women, as it is a strong traditional belief that it is inauspicious leaving their hands bare.

The designs range from simple to intricate handmade designs, often studded with precious and semi-precious stones such as diamonds, gems and pearls. Sets of expensive bangles made of gold and silver make a jingling sound. The imitation jewelry, tend to make a tinny sound when jingled.

Glass bangles are mostly produced in the old Indian city of Firozabad in North India. Hyderabad also has a historic market for bangles. In Pakistan glass bangles are produced mainly in Hyderabad, Pakistan.

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2. Executive Summary

Fashion jewelry bangle is owned by some students and the area we have selected is Kayabane-

Sir Syed. It will provide the combination of excellent quality at value pricing with special

discount and good atmosphere. We are providing bangles with best quality & standard in

different size and stuff. Multi colors are available with reasonable price. Our bangles include

combination of materials and decoration to give you truly impeccable styles of bangles. We will

also tell you about bangle color meanings. That will help you at the time of getting special gift.

Bangles are one of those things that attract peoples more and more and with the passage of

time peoples want unique and different styles according to fashion. Our product is usually

inexpensive every one can purchase easily. We are offering glass, wood, ferrous metals, and

plasticbangles and also providing bangles: a solid cylinder type; and a split, cylindrical spring

opening/closing type. Primary distinguishing factor for these is the material that is used to

make the bangles. This may vary anything from glass to jade to metal to lac and even rubber or

plastic.

Another factor that adds to the price of the bangles is the artifacts or the work done further on the metal. This includes embroidery or small glass pieces or paintings or even small hangings that are attached to the bangles. The rareness of a color and its unique value also increase the value. Bangles made from lac are one of the oldest ones and among the brittle category too

The Fashion jewelry bangles financial picture is quite promising. The initial cost is significantly

less than many start-ups these days. For the purpose of this pro-forma plan, the capital

expenditures of facilities and equipment are financed. There will beaverage inventory on hand

so as to meet the requirement of that area and to take advantage of price drops, when and if

they should occur.

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2.1.Objectives

To establish the market presence needed to support marketing and sales

goals and to attract customers.

Satisfaction and positive feed back of customer

Increase no of outlets in local areas

To reach Rs 1,500 monthly sales and Rs 2,000 average monthly sales by the

end of year.

To achieve profit margins over 10-15%.

To develop top-rated relationships with customers.

2.2. MissionFashion Jewelry Bangles is committed to providing the highest quality, and wellness products at low price. Our staff is friendly, eager to serve and ready to educate. And we deliver high quality product at reasonable prices.

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2.3. Keys to Success

The keys to success in this business are as follows:

Primary distinguishing factor for these is the material that is used to make

the bangles.

The greatest locations - visibility, convenient access.

Promoting a productto all community.

Pricing effectively with respect to the quality and customer value

proposition.

The friendliest environment.

Product quality and material that

This business plan calls for an exciting, profitable start-up with future forecasted

growth as we meet the demands of the community. In all, this plan describes a

healthy company with good growth prospects, looking to manage its orderly

growth in the near future.

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3. BUSINESS DESCRIPTION

Our business is about bangles and industry is about bangles. We choose this

sector because the limitations are far away here and Eid event also give raise to

our business.

Fashion Jewelry Bangle is a single unit, small sized business. Which start as a

simple sole proprietorship, owned by its founders. The founders of the Fashion

Jewelry Bangles are six friends which focus on different issues of the business. The

idea behind the business is to provide quality, unique and stylish product to the

public in a friendly environment. It is based on providing consistent levels of

service and quality products, and the values of Quality, Service and fairness are

important to all who work at Fashion Jewelry Bangles. All of us must provide a

high level of customer satisfaction and maintain high standards and different

design and different varieties of bangles of each category.

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We are offering a product of different varieties in beautiful colors. Our customers

are many of the young girls and students and for all ladies. It has a fixed place and

outlets for selling the product and services. We decide to sell our products

according to choice of people. So that we cover all women without any class

discrimination, so our competitors can’t meet us. Most important to us is our

financial success, but we believe this will be achieved by offering high-quality

service and extremely fair, friendly environment.

Fashion Jewelry Bangle offers high quality product to a growing community. At

start up we will be open for 2:00 p.m. to 11:00 p.m. Monday – Wednesday. We

will consider opening earlier and serving to their customers if there is a demand,

and if forecast and financial analysis can justify the increased costs.

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Why we are different from others?

Quality

Customer Dealing

Healthy environment

Reasonable prices

3.1. Financing

Initial financing is provided by partners, which was for the booking of stall Rs.2,000. An agreement was done between Executives (CEOs). We are students but still we carried the burden of finance.

3.2. How we assure our profit?

Assuring our profit is based on our survey which we had done in different ladies market and weekly markets couple of days ago. Another assurance is of our well organized business structure with skilled employees and workers.

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3.3. Product

We want to focus only on selling a quality product. Because ladies always rely on quality and standard products. Fashion Jewelry Bangles promote the traditional culture and enhance their life style.

3.3.1. Product Description

Fashion Jewelry Bangle’s main products are;

Plan Glass bangles

Embroidery or small glass pieces bangles

Painting bangles

Small hangings that are attached to bangles

Wood bangles

Ferrous metals bangles

Plastic bangles

A solid cylinder type of bangles

Split, cylindrical spring opening/closing type of bangles

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4. Marketing Strategies

4.1. Market SegmentationDivide a market into a smaller group of ladies buyers with distinct needs.

4.1.1. Cultural SegmentationOn the basis of cultural segmentation we offer bangles for Eid event, because ladies of different age in sub-continent are very curious to take jewelries and bangles on Eid event.

4.1.2. Demographic segmentationDividing a market into groups based demographic variables such as age, gender etc. Demographic segmentation for Fashion Jewelry Bangles is quality and satisfaction for every female, everyday every age.

4.2. Target marketing

Through market segments the firm evaluate the various segments and decide how many and which segments the firm can best.

Fashion Jewelry Bangles target market is school, college’s girls, university and working women. In other words Fashion Jewelry Bangles are targeting all females without any age discrimination. Our product is useful and attractive for every age of women.

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4.2.1. Marketing positioning

Fashion Jewelry Bangles hold strong reputation for high quality product. They aimed to satisfy consumers' demands, better and more profitably than their competitors.

5. Sales Promotions

In order to support our sale promotion program, we will need to advertise and promote about Fashion Jewelry Bangles through electronic media, internet e.g. facebook and through mobile SMS.

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6. COMPETITIVE ANALYIS

6.1. Competition

The competitive analysis of our competitors is that they do have better

source of funding, more interaction with people. But in their weaknesses

department they do have poor management, quality product and as follow:

Fashion Jewelry Bangles has several advantages over its leading competitors:

Unique combination of colors.

We expect a high degree of passion with friendly staff that reflects the Fashion

Jewelry Bangle’s youthful and energetic culture.

Supply Discounts

Community Benefit

Quality Product

6.2. Pricing Strategy

We provide a customer with a quality product at a competitive price and offer the

customer with a more convenient method for obtaining their desired product.

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7. Symbolism of Bangles

Bangles are a type of ornament worn by women in subcontinent. Also called Kangan or Chudi in subcontinent, bangles come in various colors and are symbols of matrimony. A single bangle worn by woman is called a Kada and Kada is a circular shaped bangle and is made from iron, white metal or gold. It has religious significance for Sikhs.

In whole world and especially in subcontinent, bangles are very popular and with growing fashion trends, have become a highly popular in their various designs and forms. No longer are bangles just made in a circular shape with glass. Today, bangles are made from various materials and can be found in many shapes such as round, rectangular, oval etc. Worn in pairs, one on both arms, bangles are colorful, beautiful, and enhance the beauty of women who wear them. Gold, silver, wood, ferrous metals, plastic, rubber, and glass among other things are used extensively to make bangles. However, tradition demands that women of subcontinent wear gold and glass bangles or only gold or glass bangles.

Gold bangles studded with semi-precious gems, or diamonds, pearls or just plain gold bangles with pretty designs are popular with women in India. The range of these bangles can range from downright simple to extremely intricate. Generally, a single bangle is adorned by women across the world in various variations such as bracelet. But in other regions such as the Arabian Peninsula and South Asia, bangles have been evolved into a wide range and each is used for different occasions.

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Firozabad in Uttar Pradesh, India is the single largest producer of glass bangles. Hyderabad, capital of Andhra Pradesh State, also has a historic bangle market called Laad Bazar. In Pakistan, glass bangles come from Hyderabad (Pakistan).

Bangles have been a part of the Indian culture for many centuries, but the new trendy bangles are more versatile than ever before. Available just bout anywhere, designer bangles are even sold in malls, jewelry shops. But the real deal is the glass bangles…a pious symbol of matrimony. Here’s a look at what the various colors mean.

No. Bangle Color Meaning

1 Red Energy

2 Blue Tranquility/Wisdom

3 Purple Independence

4 Green Luck/Married Status

5 Yellow Happiness

6 Orange Success

7 White New Beginnings

8 Black Power

9 Silver Strength

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10 Gold Fortune

8. OPERATIONAL/MANAGEMENT PLAN

Fashion Jewelry Bangles management team is led by Waseem Murtaza Hussain, which is a small

business and will be relatively flat one, since the majority of personnel are involved in sales and

marketing and there will be a relatively low headcount in production due to nature of product. Over all

group will have six members and all can do full time job. Our team is based on responsibilities and

mutual respects. Group has an environment and structure that encourages productivity and respect for

customers and fellows. There are two functioning groups within thisbusiness such asSales and

Marketing.

Waseem - General and Administrative function.

Saud, Marrium, Alvina- Sales

Saima- Marketing

Naila – Finance

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9. FINANCIAL COMPONENTSTo arrive at the average 3 days fixed costs, the calculated fixed costs for by

using the average price per unit, less the average cost per unit, divided into

the fixed costs of operation, which concludes that we will need to sell at

least the number of units shown in the following chart to reach break-even

within three days.

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9.1. Income Statement (Estimated)

Fashion Jewelry Bangles

Income Statement

For The Period of _________

Expected Sales Rs.10, 000

Less Cost of Goods sold Rs.5, 000

Gross Profit: Rs.5, 000

Less: Operating Expenses

General expenses Rs.1, 000

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Operating income RS.4, 000

Less other expenses

Rent expense RS2,000

Net income Rs 2,000

9.2. Balance sheet

Fashion Jewelry Bangles

Balance Sheet

As on----------------

ASSESTS Rs. LIABILITIES Rs.

Cash 6,000 Expenses 5,000

Reserves4,000Capital 5,000

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10. CONCLUSION1stof all thanks to ALLAH this project has been completed. We have really enjoyed this project. It is very helpful to get a lot of information about market situation and different business trend. This project is very helpful to identify the customer needs wants and demands. We havelearned a lot of about different scenario of market

11. REFERENCES

Sunday market, Jinnah supper, commercial market

www.google.com

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entrepreneur magazines

12. APPENDIX

Pricing

S.No Products Per unit sale price

1 Plan glass bangles 35

2 Embroidery or small glass pieces bangles

90

3 Painting bangles 80

4 Small hangings that are attached to bangles

120

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5 Wood bangles 125

6 Ferrous metals bangles 135

7 Plastic bangles 60

8 Split, cylindrical spring opening/closing type of bangles

95

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