Introduction to Business Lecturer : Tay Shir Men

PROJECT 1 : BUSINESS PLAN PRESENTATIONGroup Members : Joseph Soh

Tang Fu Hong Tan Jit Kim Teh Wei Hong Thomas Ting Shii Kai

Home cooked food, without the hassleWe deliver fresh ingredients and exciting recipes to your

doorstep so you can make your own healthy meals at home

How It Works?

Watch Me Cut, Watch You Cook Cook!!

BUSINESS BACKGROUND

iRecipeAddress : No. 8A, Jalan SS15/4D, Subang Jaya, Petaling Jaya.

Contract no: 05-80567521

E-mail :i.recipes@gmail.com

Business hour: 9a.m ~ 5p.m

▪ We are specialized in producing secret recipes and are cook by consumer

▪ One day delivered before wanted date▪ Organic▪ Fresh▪ ONLY in SUBANG JAYA AREA▪ Pre-Order 3 days before wanted date

Information

Location

▪People does not cook well▪Have no time▪Doesn't know what to cook▪Can have fresh meal▪Eating organic meal▪Any pax▪Different cuisine

Reasons for Creating This Business

MARKET ANALYSIS

HOW BIG IS THE MARKET ?

95%

5%

iRecipe Other competitors

Customers and Their Backgrounds

• The average family income in Subang Jaya range between low to high income that education level is from minimum high school to postgraduate.

• All races residents and students from Taylor’s, Sunway and Inti within Subang Jaya area .

• The population of Subang Jaya is 708,296, we target 35414.8 citizens of the area.

TRAVEL TO THE MARKETS WEEKLY TO BUY REQUIRED INGREDIENTS?

COMPETITORSThe business faces competitive competition from our potential competitors such as fast food chains such as McDonalds, KFC, Pizza hut and Domino Pizza.

Strengths- Able to prepare food in a short interval of time which will meet the fast pace of modern lifestyle.Effect- Easy and fast

Weakness- The food they offered does not contain all the nutrients needed by the human body systemEffect-This is also contributed to a higher obesity rate among the people.

What are their strengths and weaknesses?

MARKETING STRATEGIES

BENEFIT OF OUR PRODUCT HEALTHY

ORGANIC INGREDIENTS

TARGET FOR VEGETARIAN

TOO!!

WHY? Halal certified products can be advertised as Halal and can also display the registered trademark Halal logo on their packaging, hence making the products readily acceptable by Halal consumers.

HALAL

TUTORIAL VIDEOPosted on YouTube to teach by example and supply the

information on the cooking method

PRICINGi) Meals for a day(Single)- RM30 to RM50 ii) Meals for 3 days (Single)- RM80 to RM140 iii) Meals for a day(2PAX)- RM40 to RM70iv) Meals for 3 days(2PAX)- RM110 to RM200- Every single package will only have 3 dishes per

meal.- Every 2 PAX package will have 5 dishes per meal.

i) EveryfirsttimeconsumerwillbegivenacodewhichdiscountsRM15.

ii) Applyforamembershipfromourwebsitewillget10%ofdiscountoneverymealyouordered.(RM50formembership&itlasts6months)

iii) Wheneverspecialoccasioncomes,wewillbegivingapromotioncodewhichcangetLUCKYDAYMEALS(freemealsofaday)ordiscountforabout30%.

iv)AFacebookpagewillbecreatedinordertoadvertiseourmealsandalsotoinformtheusersaboutourdailymealsupdate&etc.

Advertising and Promotional Activities

MANAGEMENTSTRATEGIES

WHY? – Easier to get more capital . Easier to borrow money from bank. Simple and low cost legal paper work.

Legal Ownership – Partnership

CEO

Assistance

Marketing & Advertising

Sales Accounting & Finance

SupplyChain

Human Resources

• Media & Billboards

• Clerk • Receptionist

• Deliverer • Leafleteer • Accommodation

• Accountant• Transporter • Procurement

Specialist

Assurance of Halal by JAKIMThe examination should not create or give rise to any question or doubt and the examination process has covered all aspects of :• Preparation• Slaughtering• Processing• Handling• Storage• Transportation• Cleaning• Disinfection and • Management Including Intentional Practices.

FINANCIALPLAN

Calculate Business Set-up Cost

Accounting fees Registration and licenses

Equipment and fit-out Initial working capital

Accounting Fees

Each person contribute RM20,000

Total 20,000 x 5 = RM100,000

Registration and licensesTotal : RM2,000

Equipment and fit-outIngredients : RM500

Cooking Equipments : RM14,000 Containers and Boxes : RM1,000

Vehicles : RM3,000 Total : RM18,500

Initial Working Capitalper year

Range of Worker’s Salary : RM10,000 Advertisement : RM500

Utility : RM5,000 Equipment and fit-out : RM18,500

Registration and licenses : RM2,000 Total : RM36,000

Forecast of Sales and Expenses

Sales Revenue to Cost of Goods sold and fixed costs of doing business

Put the pricing model to the test

–Johnny Appleseed

“Type a quote here.”

Forecast to the next twelve months

Total : RM135,000 divided by 5Each partner gets RM27000

–Johnny Appleseed

“Type a quote here.”

Forecast the balance sheet

–Johnny Appleseed

“Type a quote here.”

Forecast the cash Flow

RM2,250+per month

RM2,250+per month

CONCLUSION

CONCLUSIONIn the early stage, we would probably aim our target of market on the customers from Subang Jaya. In the future, if our business runs pretty well, we would enlarge it to the whole MALAYSIA and make it worldwide. Every branch of us will serve different menu of food which depends on the culture and tradition of the place. (target of market)

Hence, more special offers and type of interesting advertisement will be portrayed via different channels. (iRecipe>competitors)

Not only that, we will increase and make more benefits for iRecipe’s members in order to attract more customers to apply for our membership system. (marketing strategy) << etc.

In the future when starting to enlarge our business, at first we might loss some money but at the end can earn x 3 back.

REFERENCES

Malaysia: New guidelines on halal certification. (2013, March 24). Retrieved October 29, 2015, from http://halalfocus.net/malaysia-new-guidelines-on-halal-certification/

Financial plan template. (n.d.). Retrieved October 30, 2015, from https://www.commbank.com.au/business/can/business-templates-and-forms/financial-plan-template.html

Financial plan template. (n.d.). Retrieved October 30, 2015, from https://www.commbank.com.au/business/can/business-templates-and-forms/financial-plan-template.html

References