ST. MARK’S SR. SEC. PUBLIC SCHOOL, INDIASCHOOLNAME ,COUNTRY
BUSINESS PLAN
Written by- SHIVAM SHARMA, SHIRIN DAS GUPTA, HITESH SETHI, MITALI ARORA, PALAK SHARMA
MONIKA UPPALLEADTEACHER
CREATED AS PART OF THE SCHOOL ENTERPRISE CHALLENGE AWARDS PROGRAMME – SILVER LEVEL
Section A: Our Business DetailsBusiness Name Eco Threads
Business Activity Manufacturing home decor products by recycling old/unused clothes
Main product / serviceCushion covers, table mats, fashionable/sling bags, mobile covers, etc
No. of students involved in business planning activities (including writing this Business Plan)
Boys17
Girls14
Total31
Financial SummaryOur Local Currency is: Indian Rupee
US Dollars $
Period of time budgeted for 6 months
Total Income (Estimated) 46300 719
Total Direct Costs (Estimated) 10000 155
Gross Profit (Estimated) 36300 564
Total Indirect Costs (Estimated) 1700 26
Net Profit (Estimated) 34600 538
Start-Up Costs (Estimated) 3040 47
Section B:Market Research and Target Market1. Here is a description of the Market Research done by us, including how many people we spoke to.
Market research is the process of assessing the viability of a new good or service through research conducted directly with the consumer. Our team conducted market research using survey and discussion as the various means. We created a questionnaire for the same. Population covered included students, neighbourhood people, parents of the students and the faculty of our school. Sample size was 500 people.
The aim was to recognize the choices and preferences of our ultimate consumers. We explored the various weekly markets, flea markets, retail outlets, shopping complexes, etc. for the prevailing prices and the strategies undertaken by them to promote their business. Following methods were undertaken to conduct market research:
I. Market surveyII. Discussion
Following are the questionnaires that were being distributed in the neighbourhood and to the parents of the students to decide upon the products to be manufactured
2. These are the results of our Market Research, including who is going to buy our product/service and why
they will buy it.
After conducting the market survey and group discussion with the parents, neighbourhood people and faculty members of our school, we shortlisted the following products that we will be going ahead with like-
i. Cushion coversii. Table mats
iii. Mobile coversiv. Sling bags v. Potli bags
vi. College bags
Our target market will comprise of girls and ladies as the above mentioned items are required by the households on a regular basis.
3. These are our main competitors and their strengths and weaknesses.
Competitor Name What basis will we be competing with them
on? Price, quality, location?
Strengths Weaknesses
Retail outlets PriceQuality
Wider market coverage
Higher prices
Weekly markets/Flea markets
QualityLocation
Wider market coverage,
Lower prices
Inferior quality,Restricted variety,
No guarantee
Shopping complex PriceQuality
Location
Superior quality,All things under one
roof
Higher prices,Restricted accessibility,
Lack of personal attention
4. Our competitive advantage – This is why we are going to be better than our competitors:
A. Ensured quality – The materials that we will use to manufacture our products will be of good quality.B. Showcasing our traditions through our products – We will be instilling traditional colourful patterns on
our products. C. Easy accessibility – Since, our target market is our parents and nearby neighbourhood, so they do not
have to cover an extra mile to buy these products.D. Genuine and reasonable prices – The prices that we will be keeping for our products will cater to the
people of all categories. E. Personalized attention – Our team will provide personal attention to the customers and will also guide
them in their purchasing decision.F. Preparing future entrepreneurs/confidence boosting in students – The students of our team will be
involved in all the business spheres like that of packaging, marketing, etc. They will also be interacting with a variety of people, so this will also give them an edge to develop their oratory skills.
Section D: SWOT Analysis
5. This is our SWOT Analysis.
Strengths – What are our business’ strengths? Ensured quality Reasonable price Loyal customer base i.e. parents’ community Optimum investment Fresh and innovative ideas by the young
team members towards a new venture Budding entrepreneurs Enthusiastic team leading to cent percent
productivity and efficiency
Weaknesses – What are our business’ weaknesses?
Time constraint due to other multiple activities going on in the school like teaching learning process
Limited time with the manufacturers due to their household chores
Opportunities – What opportunities do we have for our business?
Constant parent support Easy collection of raw materials with the help
of faculty, students, etc. Increased demand for hand-made material Reviving India’s culture
Threats – Do we face any threats to our business? High degree of competition Restricted target market
6. These are the one-off tasks we will need to do to actually start up/develop our business:
a) Identifying the appropriate product for the market by conducting a market research.b) Considering our potential customers or target market.c) Segregating the students into various business teams on the basis of the skills possessed by them.d) Raising the start up capital for our business by using crowd funding by involving the students of
finance team.e) Deciding upon an enticing and appropriate business name along with a mission statement
–‘Mainstreaming the marginalised by threading it together’ followed by its logo and banner.f) Assembling the necessary raw material required for manufacturing.g) The first phase of manufacturing to be taken up by the EWS (Economically Weaker Sections) category
parents as per their convenience and thus generating employment opportunities.In the second phase, students will be involved in the manufacturing process.
h) Creating awareness about our business venture by creating a Facebook page as well as spreading it using WhatsApp.
i) Packaging of manufactured items.j) Launch event will take place on 29th July, 2017 within the school premises.
PURCHASE PRODUCTION ACCOUNTS HR MARKETING SOCIAL MEDIA MANAGER MANAGER MANAGER MANAGER MANAGER MANAGER GEHNA YASHIKA SHIVAM KONARK SAHIL MONIKA SAHNI DAWAR SHARMA SAMA UPPAL UPPAL (student) (student) (student) (student) (student) (lead teacher)
Section F: Marketing and Sales Plan
9. These are our 4 P’s (Product, Price, Place, Promotion) and an explanation of what is new/has changed (if needed).
a) P roduct – Our product/service is… manufacturing cushion covers, table mats, mobile covers, sling bags, potli bags by recycling used clothes. The products will exhibit colourful Indian traditional patterns. Community upliftment will also be undertaken by creating employment oppurtunities by providing a platform to EWS (Economically Weaker Sections) category parents in the manufacturing process. Business name – ECO THREADSTagline – Mainstreaming the marginalised
b) P rice – We will sell it at this price:I. Cushion covers –
i. Size 16x16 Rs. 120 for a set of 3. Rs. 250 for a set of 5.
ii. Size 12x12 Rs. 100 for a set of 3. Rs. 200 for a set of 5.
II. Table mats – Rs. 50 per table mat.
III. Potli bags – Rs. 120 per bag.
IV. Mobile covers – Rs. 75 per cover.
V. College bags – Rs. 200 per bag.
VI. Sling bags – Few bags for Rs. 150 each. Few bags for Rs. 50 each.
c) P lace – We will sell our product/service at this place: The launch event will be conducted within the school premises on 29th July, 2017 followed by all the PTM’s that will be coming up in the current
academic session. Besides that, stalls will be set up on special occasions such as Diwali, Christmas, etc
within the school premises. Once we have sufficient stock with us, we would like to broaden up our selling by putting up stalls in crafts bazaars, fairs, exhibitons, etc.
d) P romotion – We will promote our product/service by: Personal selling. Publicising on social media such as Facebook (school’s Facebook page as well as our business
Facebook page), WhatsApp group and school website. By spreading word of mouth.
d) We will raise the Start-Up capital needed for our business by: Crowd-funding: It is the practice of funding a project or venture by raising money from a large number of people who each contribute some amount. Funds will be collected with the help of friends, family, faculty, etc. Under crowd-funding, we will be using reward based crowd-funding which means that in return for donation, the business will give the participants some type of incentive for participating like in the form of manufactured products.
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 ELEGIBLE FOR AN AWARD. Please choose ONE option 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 theirs3. Have improved their team working ability, e.g. if other team members were struggling
they offered support to them4. Are more confident analysing information5. Are more able to use their ideas to organise and plan work in order to reach their goals6. 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 AspirationConfidence 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:Yes, in Writing & Reading
3. Have the students used the skills learned through the school business planning outside school?
NoI don’t know
Yes – Please specify: The students have used the learned skills outside school. They have developed good communication and marketing skills and know they are using these skills to promote and publicize the manufactured products. Students have also developed the art of recycling old clothes and they are using this skill at their homes to create a variety of products.
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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