Business Plan Assignment - (Solution)

BUSINESS DEVELOPMENT
REPORT & RESEARCH
REFLECTION

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
Background.................................................................................................................................1
Rationale.....................................................................................................................................1
Vision..........................................................................................................................................1
Mission........................................................................................................................................1
Aims and Objectives...................................................................................................................1
Design and stricture of report......................................................................................................2
Relevant model and business sources used.................................................................................2
Actionable assumptions..............................................................................................................3
Timescale....................................................................................................................................3
BUSINESS CONCEPT...................................................................................................................3
Product and Services...................................................................................................................4
Facilities and services.................................................................................................................9
Target market..............................................................................................................................9
Value Added.............................................................................................................................10
Specific Features.......................................................................................................................10
Management..............................................................................................................................11
Window of Opportunity............................................................................................................11
FEASIBILITY RESEARCH.........................................................................................................11
Feasibility research plan............................................................................................................11
research methodology...............................................................................................................12
Key areas of feasibility research are as follows-.......................................................................13
Feasibility of Product/services..................................................................................................13
Feasibility of industry of gold, silver and diamond..................................................................15
Growth and Scope of Gems and Jewellery Industry in India....................................................16
Competitors analysis.................................................................................................................17
Organisational analysis.............................................................................................................18
Feasibility of market analysis...................................................................................................19

Feasibility of financial analysis.................................................................................................20
Ambitions Vs Ability................................................................................................................22
BUSINESS MODEL.....................................................................................................................24
Core strategy.............................................................................................................................24
The business mission................................................................................................................26
Product and Market scope.........................................................................................................27
Value proposition......................................................................................................................27
Customer segmentation.............................................................................................................27
Channel.....................................................................................................................................28
Customer relationship...............................................................................................................28
Revenue stream.........................................................................................................................28
Key activities.............................................................................................................................28
Key resources............................................................................................................................29
Key partners..............................................................................................................................29
Cost structure............................................................................................................................29
BUSINESS PLAN.........................................................................................................................29
Jewellery business in Mumbai (India)......................................................................................30
Project planning development stages.......................................................................................30
Structure of the jewellery shop along with the interior design.................................................31
Marketing plan..........................................................................................................................32
Collaborative marketing strategies............................................................................................33
Online marketing.......................................................................................................................34
Management team.....................................................................................................................34
Risk assessment.........................................................................................................................39
Operating process......................................................................................................................40
FINANCIAL PLAN.......................................................................................................................40
Set-up capital.............................................................................................................................40
Projected cash flow for 1st year................................................................................................41
Projected profit and loss statement...........................................................................................46
Critical success factor of Astera business.................................................................................49

PART 2 - RESEARCH REFLECTION REPORT........................................................................51
REFERENCES..............................................................................................................................53

INTRODUCTION
Background
In recent era, there have been increase in the demand of the gold, silver and diamonds by
different people and mostly by the people of India because in that country there are more people
that are attracted towards the gold, silver and diamond ornaments than the people of any other
country. the present report is about the establishment of the wholesale and retail showroom
which will be focusing on gold, silver and diamond. The aim of Astera showroom is to provide
the gold, silver and diamond ornaments in Mumbai which is based in India. The showroom will
purchase the gold ornaments from Mumbai. The Indian gold , silver and diamond market is
attractive because there are large number of people which have interest in purchasing gold
ornaments so, choosing the Indian market is the best option for this business.
Rationale
Astera will provide customization of vintage ornaments which is new concepts and will
help in the business development in the Mumbai market by attracting the customers to buy gold,
silver and diamond at the affordable prices with the high quality and with customization. The
main reason for choosing this business is growth and profitability involved in this industry is
more than that of other industries. There will be proper planning and formulation of strategies for
the establishment of this business. The Astera is a new concept because it will provide the
customization of ornaments as per the demands of customers.
Vision
Aiming to establish the wholesale and retail showroom of gold, silver and diamond in
Mumbai to gain high market share.
Mission
 To provide the customers with best experience at showroom
 To provide unique vintage ornaments to gain competitive advantage
 To enhance the brand image of show room to attract potential customers
 To provide high quality gold, silver and diamond to customers
Aims and Objectives
Aim : To establish a business to penetrate the gold, silver and diamond market in Mumbai : The
study on India
Objectives :
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 To outline the improvement in sales when penetrating in the Indian market.
 To get competitive advantage by providing vintage ornaments designs.
 To outline the challenges which come across when penetrating in Mumbai market
 To outline the scope of customize vintage ornaments in Mumbai market
Design and stricture of report
The report is divided into four categories which consist of the followings :
 Concept of business : It will include the concept of business with its products and
services and the facilities provided by the Astera showroom to its customers to improve
their customers experience.
 Feasibility Research : This study is carried out in order to identify the feasibility on the
basis of perspective of market, organisational resources, services, financial resources.
 Business model development : It is the business model which will be chosen as part of
business strategy (Hakansson, 2015). The research outcome which will be determined
will include the concept of business.
 Business plan : The business plan will include the execution of various stages which
will be followed for implementation of business model.
Relevant model and business sources used
In the present research , the porter fiver forces model will be used in order to identify the
market and industry feasibility to understand the market for gold, silver and diamond in India for
the establishment of wholesale and retail showroom. Porter fiver forces model is the effective
way of understanding the industry and the impact it will have on the new business. The business
sources which will be used to gather the information will consist of the followings :
 Primary sources : It is the source in which the in formation is gathered first hand by
interacting face to face with people to identify the information. In this study, the primary
information will be collected through use of questionnaire in order to get the information
required for establishment to the business in Mumbai.
 Secondary sources: It is the form of in formation which is collected from the published
sources and it consist of books, journals, articles and online sources. In the present
research, the information which will collected through this source will be use of books,
articles, journals and online sources.
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Actionable assumptions
In Order to identify the gain value of the project there are various assumptions which are
formed for The Astera showroom. They are as follows :
The revenue of the business will be different in the different period due to variation in the gold,
silver and diamond prices in India. there will be seasonal fluctuation and not the basis of
financial year.
Timescale
Timescale is used to identify the time required to study on this project and identify the
strength and weakness related to the project. The first step to understand the market of the gold ,
silver and diamond in Mumbai to understand about the industry and the market. It assist in
identifying the risk involved in completion of this project. It is required to identify the risk of
business success and failure along with the reason to understand the strength and weakness. In
this study, it will first frame the aims and objectives on the basis on the business plan. It will
identify the location for the showroom and funding required for the operations. It will require 2
weeks for market research. for the successful completion of the project it is required to have time
allocation for the activities which will be carried out for the establishment of the Astera
showroom in Mumbai.
BUSINESS CONCEPT
Astera showroom will provide ornaments of gold, silver and diamonds with
customization. The interior of the showroom will be based on them of vintage that means it will
have the vintage showroom design to provide information to customers about the vintage
ornaments which are being provided by the showroom. Moreover, this showroom will be located
in Mumbai as it is the biggest city of India is the most famous and attractive marketplace for the
gold, silver and diamonds. The showroom will provide customized ornaments which will assist
in attracting more people towards the showroom (Venter and Goede, 2018). Moreover, the
showroom will charge lower prices than the other firms involved in this industry to penetrate the
market with the high quality of gold, silver and diamonds. The main concept of the business is to
provide the vintage ornaments to the people to enhance their experience and provide them with
attractive and unique design made up of gold silver and diamonds. Also, the business will have
extra outlet that will buy old gold and silver and melt it into gold blocks by adding some other
metals to make it pure gold and silver.
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Product and Services
The Astera Showroom will provide different products made up of gold, silver and
diamonds. It will provide rings, bangles, necklace chains and other ornaments made up up of
gold, silver and diamonds. The gold ornaments will be charged at 9.16 and 9.25 silver
ornaments. the following are the various products and services which will be provided at Astera
Showroom.
Bangles
It is an ornament which is worn round in the arms. they are traditionally called as rigid
bracelets which is mostly wore by the Indian W omen on daily basis or mostly on occasions. The
bangles of the Astera will be made up of gold with unique designs to attract the customers
towards the showroom.
 Plain gold Bangles : It is the product which will be provided by The Astera for the
women that wants to purchase the daily use bangles with the high quality and attractive
look. They are plain bangles with no design.
 Gold plated twin peacock design bracelet : It is made up of highly polished gold rings
and three rows of pearl will provide its appeal and shine. It is fashionable and can be
provided as gift item to the close person. It will give beautiful look to the women.
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Illustration 1: Gold bangles
( Source : Gold bangles, 2016)

Gold neckpeice :It is the ornament which is wore by women in their neck and it look
attractive and give the attractive look to the women on their dresses. Astera will provide the
Indian jewellery as it is the most attractive traditional jewellery which is liked by everyone.
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Illustration 2: Heavy Nakshi Gold Haram

Astera will provide man made as well as machine made ornaments to give proper
finishing and attractive look to the ornaments. the below picture shows the design of the machine
made ornaments by Astera.
 Silver Rings : It is the ornaments which is available for both then men and women and is
wore in the finger to provide attractive looks to the hands. there are different types of
rings which are available in the market. Astera will provide the men and women with
different design for the silver. This de4isgn are not present in the market as they are
innovative and are customized which means the customers can provide the specific needs
regarding the rings on the basis of which the customized ring is provided to the
customers.
For men
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Illustration 3: Silver ornaments
( Source : Silver bangles , 2017)

For women
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Illustration 4: Vintage black epoxy Ring
( Source : Vintage black epoxy rings for mens, 2016)

 Diamond Ornaments : It is the most attractive and the expensive ornaments which are
made up of diamonds it includes diamond rings, necklace, earrings etc. the diamond is
mostly preferable by the high income group people which have interest in buying
expensive ornaments to showcase their richness.
Diamond earnings : this are the ornaments which are used as ear ornaments to look attractive .
the diamond earnings are shinning and give the fabulous and attractive look.
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Illustration 5: American silver ring
( Source : Silver Ring , 2017)

Facilities and services
The Astera showroom will have interior design in the vintage look to attract the customer
and will provide the customers with various facilities such as personal attendant, facility of
parking, the customers will be welcomed in the most respectful manner. Moreover, there will be
access to free wi -fi and the customers will also be provided with machine made ornaments with
that of hand made. Also, the Astera showroom will use the Technology such as Virtual reality in
the showroom to provide the customers with insights of the ornaments. The showroom will have
basic amenities such as bathroom etc. Moreover, there will be a big mirror for customers in the
interior to give knowledge of the ornaments while using them. Moreover , there will be three
section of counter for gold , silver and diamonds.
Target market
Customer segmentation : Astera showroom will provide the ornaments to the customers
on the the basis of their needs and desire (Antwi and Hamza, 2015). They will be provided with
the different options. The customers is segmented on the basis of demand for different ornaments
as per geographic, behavioural and demographic.
 Demographically : The Astera showroom will provide different gold, silver and diamonds
ornaments on the basis of demographic preferences. This ornaments will be focusing on
the all the age group.
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Illustration 6: Huggie earrings
( Source : Huggie earrings , 2017)

 Geographically : In Indian market there are tourist attracted towards the tradition and
culture followed by the people. So, The geographical segmentation will focus on tourist
and provide them with ornaments which are related to the tradition of the India.
 Behaviourally: The customers will be provided with ornaments which are available at
affordable prices. Astera will provide the ornaments at lower prices than the market price
which will assist in attracting the lower income group people.
Also, the main focus of the Astear showroom is on actress and bridal to visit their
showroom and provide them with the products and facilities to increase the brand image of the
business in the Mumbai market.
Value Added
Astera showroom will provide gold, silver and diamond ornaments which will be
affordable at the lower prices to attract customers towards their products. Also, it will offer the
customers with high quality of gold, silver and diamonds to retain them in business for long
term. Also, the showroom will give the customers with various facilities and the showroom
which will improve their experience (Ebel, Bretschneider and Leimeister, 2016). It will give
their customers with value added services on the basis of high purchase. It means it will provide
the customers with discounts and offers for the next visit if the amount of the price purchased is
more than the specific limit.
Specific Features
The Astera Showroom will provide customized ornaments which will be prepared on the
demands of the customers with specific requirement in the ornaments. The interior of the
Showroom will have Vintage look which will be more attractive and gain the customers
attraction towards the showroom. It will provide unique design of the ornaments such as rings,
bangles, necklace which are made up of gold, silver and diamonds. Also, The showroom will use
virtual reality technology to showcase their ornaments to gain customers attraction towards the
products and services of Astera. Moreover, the Astera showroom will have extra outlet which
will but old gold and will make them pure gold and silver. The expert will be provided at this
outlet to identify the gold amount specifically while purchasing the old gold. There will be
different section for gold , silver and diamonds to reduce confusion to the customers regarding
which section to go.
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Management
Security guard
Accountant
Cleaning staff
Gold specialist
Sales and marketing manager
Customer attendant
Window of Opportunity
Indian market is famous for the cultural and traditional jewellery made up of gold and for
this there are various opportunities for Astera showroom to expand their business by grabbing
the various opportunities in the future to gain more market in the India other than Mumbai Also.
Astera showroom ca use the online marketing for providing their ornaments made up of gold,
silver and diamonds to other part of India. They can create their website through which
customers can order online the various jewellery to expand their business and for the growth and
success of Astera.
FEASIBILITY RESEARCH
This is mainly considered as initial design for any kind of research so that elements and
data of study will get brought together in order to analyse possibility of project. It is the type of
study which helps in estimating the level of expertise which required to perform efficient market
research. Thus, feasibility research study referred as analysis of business idea's viability. It
mainly helps in ensuring a type of project which is legally and technically feasible or not.
Through this process, a scholar will able to decide the project upon which research has been
conducted has worth or not.
Feasibility research plan
 setting aim and objectives of research
 introducing reason for selecting a project
 deciding research design
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 selection of appropriate research methodology
 analysing research techniques
 developing research
 analysing feasibility of research
 introducing business model
 developing business model
 analysing research report
research methodology
This is considered as type of method which helps in describing type of actions which
required to be taken for conducting efficient research study. This is a part of research paper
through which contain ways and means of conducting specific research. In simple words, main
aim of the research methodology is to explain the type of methods which will be used for
developing reliability of the project (Quantitative and Qualitative research methods, 2019).
Generally research methods are split broadly into two parts which include quantitative and
qualitative. Quantitative research methodology is a type of process where data which get
produced are always numerical which generally gets measured with methods of mathematics and
statistics.
For the present scenario, qualitative research technique has been used which mainly does
not involve number or numerical data. This is the technique which mainly involves study
through words or languages where pictures, photographs and observations gets used for
efficiency of the words.
However, for the present scenario, data collection technique which has been chosen is
secondary data analysis. However, data collection process is considered as a process under which
information get collected through the use of relevant sources in order to solution of specific
research problem (Data Collection Methods, 2019). For the present report, in order to analyse the
feasibility of Astera business, secondary data collection technique has been used which is
considered as type of data or information which has already exist in market. In simple words,
information already published under appropriate books, newspaper, online and journals.
Thus, on the basis of secondary research which is in context of feasibility of Astera
business is get determined with various types of scholarly journals and articles related to gold
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and silver industry of Mumbai. The main object of secondary research is to involve collection,
summary and proper synthesis of information which are available in existing market.
Key areas of feasibility research are as follows-
numbers Feasibility research
1 Product/service
2 Industry
3 Market
4 Organisational
5 Financial
Feasibility of Product/services
As pre the observation of demand and supply of products and services in relates to gold,
silver and diamond, it is analysed that Indians are always a diehard fans of jewellery. Infect, it is
found that Indian people mainly consider to invest in the ornaments of gold, diamond and silver.
It is because this is the type of business in India which will not face downfall in market (Hashim
and et.al., 2019). However, demand of taste and preferences of jewellery will always get changed
it is because high alternative availability of designs with the class of products and services. Thus,
it had been observed that love for jewellery among Indian people will gets end. However, as per
secondary sources, it is analysed that during current Indian market situation demand of products
has been moving away from the traditional style of heavy and expensive jewellery to more and
more on colourful and costume jewellery. However, it is also a fact that it is no longer safe for
Indian peoples to wear heavy ornaments in public places because of that people only considering
to wear multi-hued costume jewellery which is made up of both traditional and modern design.
As the market observation, it is also evaluated that recent demand of product for gold, silver and
diamond is of Indo-western pattern which mainly has gained demand because of its unique
mixtures.
In accordance with relevant sources, it is shared that Indian peoples are always been a fan
of any kind of jewellery (Pereira and et.al., 2019). The trend of wearing jewellery is from 5000
year or will never get end. If it is considered with type of television show which telecasts in
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Indian television, TV series actress wears heavy jewellery in the serials like Mahabharata and
Ramanyana. It is an ancient history which will not get end in any manner, however, it is fact that
taste preferences get changed but for the people who only prefer to wear traditional design will
only purchase such ornaments of gold, silver and diamond.
Figure 1 indo-western jewellery
(source: Afro-Indian Fusion, 2019)
Thus, as per the current trend and the from above mentioned picture it has been observed
that jewellery in Indian has seen a type of massive shift which from doting a chokar, a
kamarbandh or a bajuband other than wearing very basic earrings and rings on Indian occasions
like marriage and cultural events trend has become extreme sensitive. Products like use of pearl,
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stones and even like wearing basic chain is in demand. Therefore, to conduct a business in city
called Mumbai it is been analyse that products must be off both western and traditional basis.
Other than this, other ornaments which has the current fashion trend in India includes designs
which is based on animal and nature-inspired, classic geometric brooches, stacking and layering
accessories, latest pearl jewellery, moderate fluid lines and trending gemstones.
Feasibility of industry of gold, silver and diamond
As per the secondary sources, it is analysed that India is the country under which culture
of wearing jewellery will not get diminished which is also in future as well (Vyas, 2019). Thus,
in order to conduct business in Mumbai city, it will become a best attraction for the people and
they will get attracted for the purchasing unique design which has mixture of both traditional and
western culture such as jewellery which relates to pearls, diamond etc. as per the analysis of
feasibility of Astera gold, silver and jewellery business the stages in life cycle circle are as
follows-
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Illustration 7: product life cycle
(source: How to use the Product Life-cycle model, 2018)

According to above graph, it can be said that present stage of Astera business is
introduction stage and in order to introduce this business in market, owners will in need to
require effective amount of funds, marketing strategies and proper analysis of marketing survey
through which consumers needs and expectations gets analysed (How to use the Product Life-
cycle model, 2018). Here, market research will needs to be conducted on already established
competitors strategy in order to develop the needs to consumers. However, in accordance with
secondary sources to make an effective development of business and to analyse the current
market scenario of industries who are engage in business of gold, silver and jewellery various
factors will get used with the development of model which will test its capability to mitigate the
risks.
Growth and Scope of Gems and Jewellery Industry in India
Introduction of Gems and Jewellery Sector:
In order to conduct business of jewellery in Mumbai, firstly market analysis needs to be
developed on the performance of businesses of industries in India. However, according to a
relevant sources it is been analysed that in India gems and jewellery sector has been contributing
approximately 13-15% of total export over the past five years. It is a fact that India's is best
known for the cutting and making design of jewellery. Infect it is the largest manufacturer of
cutting and polishing diamonds across the world and it is exporting 93% of its production across
the world (Kaushik, 2013). However, it is a fact that in today's world 12 out of 14 diamonds are
mainly sold across the world will either be polished or cut in India. Thus, jewellery sector is one
of the largest sector in India.
However, in context with entity's growth and expectation in this sector of business it is
evaluated with the secondary source of factor that companies are trying to expand their business
in more and more cities and in Mumbai there are approximately 100 gold jewellery showrooms
which indicate that Astera will face a tough conception in order to conduct the business in
Mumbai city (Klotz and Fryé, 2019). Other than this, the new move in this sector of business is
regarding online selling of jewellery. It is been analysed with relevant sources that growth of
online jewellery is mainly driven by increasing internet penetration rate growth which is also in
high net worth individuals. This, indicate that Astera business have the opportunity to attract the
customers of Mumbai city through conducing business online as well where they need to provide
the jewellery which are of low range.
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In today's world, industry are also providing financial facility to their customer who are
not able to afford jewellery which are of high range. However, it is fact that increase in
population drives higher demand of gold and jewellery in India.
This is the summary through industry analysis will get developed on national basis.
However, motive of Astera showroom is to conduct the business in Mumbai, therefore in order
to analyse its competitors, porter-five-forces-analysis is as follows-
Competitors analysis
This is the type of marketing and strategic management in order to analyse strength and
weaknesses of potential competitors (Berger, 2019). This is the process through which entity will
able to analyse opportunities and threats which exits in market. Thus, these factors will mainly
measured on the scale of high, medium, low and moderate.
Threat of new entrance (high):
Concept of opening a showroom of jewellery is not a new concept. Therefore, chances of
having any other competitor is comparatively high. Thus, Astera businesses at its initial stage
needs to face challenges in order to get the customer's loyalty and in achieving profitability.
Threat of substitute products (high):
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Illustration 8: porter's five forces analysis
(sources: What is Five Forces Analysis, 2019)

Astera business needs to face challenges regarding availability of substitute products. It is
because Indian customers are the diehard fans of jewellery and to attract them in the business,
entities are providing best possible designs (Fink, 2019). Thus, at beginning Astera showroom
needs to face challenges regarding availability of substitute products.
Bargaining power of buyers (high):
This is the another way where Astera business at the beginning needs to face challenges.
Infect this is the factor which mainly faced by all the businesses of jewellery as customers have
lots of choices. It is because jewellery space is very crowded where large entities are holding
great market value and they also have set up the expectations regarding costing of diamonds.
Bargaining power of suppliers (high):
This is also a factor which also provide challenge to Astera business it is because
suppliers hold a dominant position and they will not tell businesses regarding from where they
brought their sources.
Industry Rivalry (high):
Astera business needs to face high competition in market because there are already lots of
retailers, small businesses, independent retailers and sellers are established because of which
there will not be much room for innovation or product differentiation.
Organisational analysis
According to relevant sources it is analysed that In order to conduct a business in the city
of Mumbai there are lot of competitors which have already their successful established business
and they do have loyalty support from customers. One of top competitors of Astera business are
PCJ, Kalyan, TBZ and many more (Lodhia, 2019). Infect there are also small retailers who have
trusted loyalty from customers. Thus, in order to conduct successful operations, Astera is
providing unique offering to customer where they mainly develop jewellery in regards with
customisation in accordance with the customer’s choice. Astera will provide jewellery like
pearls, indo-westerns, etc. which is also with the financial offering where customers will buy that
products too which they cannot afford. Further, target customers of this business is people of all
age group where unique and classy jewellery will get available to them in with affordable range
of products. Apart from this, Astera business diamonds embark the aspiration of emerging Indian
brides and actresses who mainly uses both traditional and western jewellery and who mainly
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wants jewellery in accordance with their own preference. Thus, this analysis shows effective
feasibility analysis which is also in terms of organisational analysis.
Feasibility of market analysis
In accordance with the relevant sources market analysis is considered as the type of study
where analysis developed on the dynamism of market (Lee, 2019). In simple words, it is
basically a type of business plan under which information gets analysed in terms of market size,
market growth rate, market profitability, industry cost structure, distribution channels, market
trends and key success factors through which business growth will get achieved.
However, in terms of Astera business, its approximate market size will be rupees 35-50
lakh through which effective development takes place. However, Mumbai has a broad market
where money will not sufficient in terms of opening showroom as per the expectations of
consumers. Its growth rate will get determined through the initial quarter of business operations.
Further, in accordance with the cost structure, Astera business has the fixed costs like labour cost
of cutting and developing jewellery design, manufacturing overheads and variable costs like
direct materials, commission, production supplies, peace wage rate, wages related to staff,
bonuses, payroll taxes etc. other business related costs which needs to bear is like rent, utilities,
insurance and depreciation (Oberoi, 2019). In terms of market channel, Astera business have
operative distribution channels through which products and services will easily available to
consumers.
According to the secondary market resources it is analysed that a marketing channel is
considered as structure of includes units like intra-company and agents of extra-company like
dealer, wholesaler and retailer because of which a commodity and services marketed. However,
in context of Astera business, its main market channel is the media through which products and
services will get promoted among customers. This is result which shows feasibility of the
marketing channel of Astera industry. Other than this, its key success factors include providing
customised products to customers like actress and brides who generally prefer to wear both
handmade and machine cuts jewellery. At initial stage, Astera will directly provide its products
to manufacturer from customers.
Thus, in accordance with relevant sources it is analysed that for conducting smooth business
operations there will be a need of proper market analysis so that appropriate strategies will get
developed before commencing business operations. These all are the factors which have been
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considered by the Asetra business so that at initial stage only management will able to capture
customer of business market where they will able to customised their jewellery which is also in
accordance with their own needs.
Feasibility of financial analysis
In accordance with the secondary data sources, financial analysis is the type of process
which used by entity for evaluating their business related projects, budgets and other financial
transactions in order to determine performance and suitability of entity in business market. In
simple words, it is the process which has been used for determining whether a business is stable,
solvent, liquid or profitable enough in order to expand its business operations in near future.
Thus, in order to present the feasibility with regards to financial analysis, generally three
accounts will get prepared by Astera entity that is income statement, balance sheet and cash flow
statement. It refers to a type of assessment in terms of viability, stability and profitability.
There are multiple considerations through which ideal business of jewellery will get established
in the market of Mumbai, as this will be located in attractive location which also in area where
more crowded spaced will get found (Grynberg, Kaulihowa and Singogo, 2018). But in order to
predict the approx. revenue, set up cost, profit and information via internet, telephone enquiries
and mail financial analysis will get performed. Further, business details are stated below:
Set up Capital:
As per the secondary data sources, start-up capital will include funds which will be required
for any business related expenses before launching any new business in the market. Capital will
be required for running smooth flow of business operations till it reaches positive cash flow so
that revenue gets higher than the expenses. It is very important that entity will run its business
within the capital, it is because entity which runs its business initially at out of capital will result
in failure of company. In regards with this context, the Astera business budgeted amount is 35-50
lakh and its operating capital is approximately of 15 lakhs. The average size on which this will
business will set up is 1200 square feet where the expectation of cost of security deposit on rent
for initial six months will approximate includes 70,000.
Equipment and décor:
As per relevant sources it is been analysed that business of jewellery will always be popular,
especially today when the people prefer more style of ornaments to wear in their personal and
professional life (Wilkonson, 2018). Thus, in regards with opening new business, each and every
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owner must need to analyse the types of equipment’s which will be required for performing
effective business operations. In context with Astera business, it is analysed that main purpose of
business is to provide effective customised ornaments to customers like brides and actress so that
they can carry it with any kind of occasions. But there are some essential which required to be
conduct business operations which includes Flat nose pliers, Round nose pliers, Nylon tipped
pliers, wire cutters, toenail clippers, practise material and ruler. However, these are some
important equipment’s which has been set by Astera business is the classy window dressing so
that customer will able choose their own way of style which they preferred. Decor will be set up
in classy way so that customers gets impressed when the first enter the showroom.
Manpower:
in accordance with the secondary research analysis, it is being evaluated that manpower planning
is the most important process which needs to be considered before setting up any kind of
business. It is the type of process of developing review regarding employee of the organisation
which needed to perform for services of organisation. It is true that if entity has competed
manpower forecasts, then they may able to achieve goals and objectives of entity efficiently.
However, in regards with Astera business, the most important part for the management is
manpower which included cost of labour as wages, salaries and commissions and in terms of
present scenario, the manpower cost which has set up for providing to staff member is minimum
8000 per month.
Marketing and personal relations:
In accordance with secondary market analysis, it is analysed that marketing is main important
thing for initiating any business operations. It is important because through this entity will able to
maintain their direct relationship with customers. However, along with this public relation plays
an important role in order to build effective marketing strategies for the entities. In regards with
the Astera entity, this strategy will help entity in creating better organisational strategy because
of which they will able to develop effective online reputation (What is Public Relations and why
is it important, 2019). This helps entity for increasing brand credibility, through this process
profits and sales also gets rises. Through enhancement of online presence, Astera business will
able to enhance their online presence through which they will able to they will directly able to
promote their designs among customers.
Revenue:
21

The revenue of Astera business will mainly depends upon seasonal fluctuations. It is because,
Indian people mainly considered to buy jewellery for particular occasions such as wedding,
home inauguration etc. As there are many superstitious people who prefer to buy gold and
diamond related ornaments only in particular time of season. Thus, it would be assumed that
brides will only get attracted during their own wedding time and other targeted customer will get
attracted during certain season of festivals. These will mainly be considered as the time because
of which high revenue will get generated by the Astera entity as customised theme will mainly
attracts consumers of Mumbai city.
Break-even analysis:
As per the relevant sources, it is articulated that break even analysis is the type of technique
which has been widely used by production management and accountant in order to determine the
level of sales volume by comparing it with total variable and fixed cots with sales and revenue.
In simple words, it is the process of analysing the variation of income in accordance with the
level of business activities. However, in accordance with the Astera business their significant
concept in relations to business operations will determined on monthly basis which is with two
factors like cost and revenue.
Ambitions Vs Ability
In accordance with the relevant sources it is been analysed that these two words upon
which mainly business will get conducted where meaning of ambition is to wanting more and
ability is the type of skills that needed to conduct a business or a specific job. However, in
comparison to these two words ambition is more important it is because this is the way through
which long desired goal get acknowledged. It very important that an enterprise must have
effective ambitions through which a path way gets developed for meeting the future needs of the
organisation. In comparison to both the terms, it is evaluated that ambition will always win over
the ability. It is because if a person or organisation have ambition then they will easily able to
develop the ability in order to perform specific job or business operations. However, in the
context of Astera organisation, it had been analysed that the aim of business is to establish a
business for penetrating gold, silver and diamond market in India. This is the word through
which it is clearly analysed that entity has long term ambition in order to achieve business
profitability.
22

Business also has effective objective which describe its long term ambitions that is in regards
with improvement in sales, achieving competing advantages, to provide the customised
ornaments to the customers of Mumbai. These are the ways which clearly defining its long term
ambition through which business will get achieved success in future. For the first quarter, entity
has the strategy to provide products and services mainly in affordable range so that a loyal
customer base will get developed. In similar aspect, Astera business has a unique feature where
they are providing a gold, silver and diamond related ornaments in a customised way so that any
age group of customer will able to demand the way in which he/she wants to wear a jewellery.
However, Astera business carries quality services for its consumers where they are
providing attracting offers and discounts where customers will easily able to purchase the
jewellery which they want for their personal use. Entity also providing options to customer
where they will able to afford any jewellery in terms of EMI. In order to provide the best
services, entity has hired skilled staff which has potentials to completed any specific
organisational objectives. Staff which will be hired with their ability to perform the work under
heavy work load situation so that proper work of management will get develop and every
customer will feel satisfactorily so that they visit again to buy the ornaments. However, ability is
not only the factor in order to decide the right candidate for the business. That is why in order to
appoint best staff in Astera organisation, candidates go through the personal interview where
their ambition towards work will get analysed by and then only they will get hired for business.
However, for the purpose of avoiding unrealistic target, every business must have to perform
depth study with its core competencies along with the capability for initiating a new venture and
especially in order to conduct business operations in Mumbai city, owner must have to think
widely. It is because this is city where businesses are providing tough competition with each
other whether it is small enterprise or it is a large enterprise. Therefore, Astera business have
conducted report of feasibility for attaining complete view in business market so that in
accordance with that effective marketing strategies will get developed to achieve its business
ambition through adequate capability.
23

BUSINESS MODEL
Core strategy
Mumbai is located in the centre of India and it is the largest city of India which is the
most attractive place in India and have high customers attraction due to availability of pure gold
in that place. The Astera core strategy for this market is to fulfil the customers demands and
provide them ornaments according to their preferences and uniquely designed by the experts
which are not present with the competitors. They will provide the traditional as well the Indo
westerns mix jewellery design made up of gold, silver and diamonds to attract the customers
from different places to the showroom. The main shares of the business is from four people but it
will later on accept the shares from the local and public stakeholders. The raw material for the
ornaments will be purchased from Mumbai as it consist the purest form of gold. The company
will provide not only home made ornaments but also the machine made ornaments. The business
core strategy involved the Hybrid strategy of Bowman which involved the elements of low prices
as compared to its competitors.
Moreover, the showroom will have different section for the gold, silver and diamond
which will assist in providing convenience to the customers at the showroom. The lower price
strategy adopted by Astera will increase their customer base because the gold market in India is
fluctuating and have the highest prices for the ornaments due to which many customers are not
able to afford the gold, silver and diamond ornaments (Kolk, 2016). They will also provide the
customers with offers and discounts for the purchase above the specified limit which will
improve the customer experience will attract more customers towards the firm. Moreover, the
showroom will focus on high quality gold and will assist in attracting the customers towards the
products and services.
Key
partners
Media
advertise
ment
Key
activities
booking
the
jewellery
Value
proposi
tion
providin
g pure
gold
Custome
r
relations
hip
program
mes
Custome
r
segment
s
internatio
nal
Key
resource
s
human
resource(
People)
Channel
s
media
advertise
ment(Ma
Cost
structur
e
cost
accordin
g to the
Revenue
streams
the main
source of
revenue
generatio
24

jewellery
retail
shops
compone
nt
suppliers
transport
providers
providing
quality
goods
fair
transactio
n
improving
customer
experienc
e
offering
variety of
designs
customer
services
sales
packaging
marketing
mangemnt
accountin
g
billing
and
silver
effectiv
e price
ensurin
g purity
of
Diamon
d
unique
designs
offering
s which
create
higher
value
best
designs
digital
paymen
ts
digital
bill
deliever
y
online
events
customer
database
for
messagin
g any
offers
through
media
newspap
ers
in
premises
as one to
one
shows
trade
shows
phone
contacts
in store
demonsta
tions
social
tourist
local
people
outsiders
visitors
Mass
market
online
apps
amazon,
myntra
business
to
business
segments
.
physical
resource(
Factory,
land,
building,
showroo
ms)
financial
resource
other
resources
equipme
nts
efficient
processes
gazines,
newspap
ers)
social
media
Hoarding
s and
billboard
advertise
ments.
Custome
r
feedback
loops
pamplets
Direct
mail list
websites
sponsore
d groups
email
marketin
g
internet
value
offered.
(high
initial
cost)
Labour
taxes
equipme
nts
advertisi
ng
communi
cation
Insuranc
e
free
services
wastr
removal
pay per
click ads
email
marketin
n is from
customis
ed
designs
customer
services
Gold
exchange
s
sale of
gold,
silver and
diamond
ornament
s
coupon
purchase
project
fulfillme
nt
digital
products.
25

queries
quicl
dfelieve
ry
Brand
status
latest
designs
exclusiv
e
product
s
media
inrteracti
ons
customer
website
interactio
ns
image
search
online
videos
internet
text
search
pay per
click
web
pages
product
awarenes
s
g
photos,
videos,
audios
content
creation
web
hosting
energy
sources
The business mission
The mission of the business is to provide the customers with high quality gold, silver and
diamonds ornaments which will be made up of handmade as well as machine made to provide
the perfect finishing to the products of Astera which will assist in enhancing the customer
experience. Moreover, the business will provide the customers to customize their ornaments
which will assist in attracting more customers towards the showroom and will help in increasing
the profitability and market share of Astera in Mumbai market (Eriksson and Kovalainen, 2015).
The business mission of Astera showroom is to provide the customers with different types of
ornaments design which are not available in the market to improve their experience and retain
them in business for the long term success of the business.
26

Product and Market scope
The product scope is large because the product will be made up of traditional and it will
provide the vintage ornaments which will assist in attracting the customers and will provide the
customers with different designs for the ornaments which are made up of gold , silver and
diamonds. Astera will give the customers with the option of customization of the ornaments
which will attract more customers towards the showroom. The showroom will also exchange the
old jewellery which will also beneficial for the customer that does not require the old jewellery
and in exchange require the new one with adding the value to it. Also, for the advertising of the
ornaments can use the online marketing in which it will use the social media sites such as
Facebook and Instagram for the promoting their product and services to attract customers.
Value proposition
It is related to creating value for the customers through their products and services to
improve their customer experience which will assist in increasing the goodwill of the
organisation. It is a belief by customers that how value is delivered, acquired and experienced.
The business will also focus on the interior and the exteriors with the products and services to
gain customer attraction. Moreover, the showroom will provide value to the customers by
providing them better services such as team ,coffee, juice serving at the showroom. Moreover,
they will provide the customers with unique and vintage look ornamentals to enhance their
experience.
Customer segmentation
It means segmenting the customers on the basis of similar characteristics to provide then
products and services according to the segmentation top the different groups. They are
segmented on the basis of their behaviour , needs etc. The Astera showroom has segmented the
customers ion the basis of demographic, geographic and behaviour to identify their taste and
preferences regarding the different ornaments made up of gold, silver and diamonds.
Channel
The Astera showroom will provide the customers to provide their feedback through use
of social media and feedback form to identify the weak areas of the showroom and the operations
to improve them in better way to improve the customer experience (Johnson and et.al., 2016).
The Astera showroom is cost efficient and quality effective channel. It is effectively channelised
with fashion magazines. With the help of Media channel Astera will be able to promote its
27

products. Also, the distribution channel for the showroom will be popular on that will attract
more customers towards the products and services of Astera.
Customer relationship
It is refers to maintaining close relations with the customers to retain them in business for
the long run to enhance the business growth and profitability to gain high market share in the
Mumbai Market. It is significant for the business to maintain the good customer relationship to
increase their sales and attract potential customers in the future. Astera in order to retain the
customer in business will provide them better experience and treatment at the showroom and will
offer them discount and coupon to the regular customers which are retained in the business for
the long run. By providing bad customer service will reduced their customers base and will give
the competitors with competitive advantage against the business. The customer attendant is the
person which have interaction with the customer and is responsible for improving the customer
experience by providing high quality services to customers which will assist in building long
lasting relationship with customers.
Revenue stream
The revenue for the Astera will be generated through the sales of gold, silver and
diamonds ornaments. moreover, it will generate revenue by purchasing the old gold and silver
ornaments and providing the customers with new jewellery by adding the price. It will also
generate revenue through charging the higher prices on the customized designed made on the
requirement of the customers.
Key activities
The main activities for the Astera showroom is to provide the customers with different
and unique design for the gold, silver and diamonds ornaments. It will also be involved in
performing activities such as buying the old gold and silver ornaments and adding the metals and
they providing the pure gold and silver to the customers at different prices. Also, the key
operation of the Astera showroom involves the taking customer orders regarding the
customization of the designed for different ornament made up of gold, silver and diamonds.
Key resources
The Astera showroom for performing its various operations will require different
resource which will assist in enhancing the growth and success of the business and for
28

performing g the day to day activities. It will require five resources which will consist of human
resources , financial resources, physical resources , machinery etc.
financial resources will include the tools and software required for performing the various
activities in the showroom it will require the accounting software to record the sales and other
transactions which are taking place and to identify the stock available with the showroom. It will
save the time of recording manually which will save the time and cost of the organisation.
Human resources are required because without that the Astera showroom cannot provide the
customers with services so, it the most important resource which will be required by the Astera
showroom. The staff member which will require by the Astera will include the cleaning staff for
the showroom, customer attendant, the manager of the showroom and the other staff.
Physical resource which will be required by the furnitures, mirror, chairs machinery for
machine made ornaments etc.
Key partners
The key partners for the Astera showroom which consist of the small retail jewellery
shops, Media, magazines publishers etc.
Cost structure
The Astera showroom will be located in Mumbai which is the most attractive place for
the jewellery business as it contains the most purest form of gold. There are various competitors
of the business In this market such as Kalyan jewellers. The initial cost is high for purpose of
interior decoration and machinery for the made made cut ornaments. The gold will be charged at
9.16 and silver at 9.25.
BUSINESS PLAN
A business plan can be defined as a set of all the policies, strategies and plans of the
business. It includes the information about the new business including product or services to be
provided to the customers, various method that would be used by the organization in order to
perform its business operations, all the essential criteria and ideas of doing business, etc. In other
words, it can be said that a business plan is a document that contains details about entire process
of the new business idea.
Jewellery business in Mumbai (India)
In India, there are huge amounts of jewelry businesses. This results in providing a huge
revenue to the government. As a result the jewelry business is having an effective growth in the
29

Indian market. Further, due to existence of a large number of jewelry businesses, the competition
in the jewelry market is also high in the India. The jewelry businesses in India are also facing
numerous challenges in India like, high level of market competition, large competition in the
market, large sharing of the profit margin of the market, etc.
Further, the most important challenge in the jewelry business is to gain the trust of the
customers. As, without gaining trust, the business can not encourage and attract the customers
for buying jewelries from it. Further, As there are numerous jewelry businesses in the Mumbai,
the Astera needs to develop a strong strategy as to provide the best satisfaction and gaining the
trust of them as well. For this purpose the Astera has decided to advertise its business with the
help any well known personality of India.
Project planning development stages
Activity Janua
ry
Febru
ary
Marc
h
April May June July augus
t
sept Octob
er
Nove
mber
December
Market research
Finding location
Identifying and
arranging sources
of funds
Processing license
Plan for designing
floor
Land on lease
Décor and interior
Website
development
Connection with
media and other
small jewellery
30

businesses.
Staff recruitment
and selection
Opening
Structure of the jewellery shop along with the interior design
Mumbai is the city of India that contains the largest population of the country. Further,
the India is having a culture in which the gold, silver, diamond etc. jeweller are being most
preferred by the population. In this regard, this market have largest profitability in Mumbai. The
interior design plan of the business contains the detailed information about the plan of company
as to deciding the way of displaying the jeweller to customers, deciding the ambiance of the
shop, etc. These elements have influence power as to influence the attraction of the customers. In
this order, the Astera has to set the most attractive ambiance and atmosphere of the business.
Setting the appropriate interior deign, ambiance and atmosphere refers to setting the
suitable lighting, designing an attractive displaying set, etc. The Astera has decided to design a
glass showcase in which it would show various types of jewelry sets to the customers. Further,
the organisation has also decided to place a large and beautiful mirrors in the shop in which the
customers can see themselves with the jewelry.
31

The shop will contain small mirrors on the top of glass showcase so that the customers
can view themselves wearing the jewelry sets. Further, the business is also planning to create a
3D set of displaying the jewelry in the shop. This plan of placing 3D set would definitely help
the business in attracting the customers.
Further, the comfortable sitting arrangement will also be provided to the customers.
Sufficient number of chairs would be placed in the shop so that the customers can comfortably
sit on them and enjoy their shopping experience. In addition, numerous spotting lights will also
be fitted in the shop so that the customers can easily views the displayed products.
A light music will also be played in the shop as to enhance the shopping experience of
the customers. the Astera is also planning to develop a kids zone in the shop where the children
of the customers can enjoy themselves and the customers can freely enjoy the jewellery
shopping.
Marketing plan
It is important for the business to plan there marketing strategies for promoting their
business and products and services. It is required to have the marketing aim and objective to for
establishing the jewellery business in Mumbai. The aim of this plan is to open a jewellery
business in Mumbai which will provide ornament made up of gold, silver and diamonds. Market
research is required to understand the market for gold, silver and diamond. It will include
researching the market on the basis of customer type their profile and occupation it will assist in
allocating their target customers. Moreover, it is required to that after the deciding the target
market by the business it is required to understand the different channels and social media sites
which will assist in promoting the products and services provided by Astera. The focus for the
business is to attract the actress and bridal towards the showroom. For gaining the market it is
32

required that Astera should adopt the various marketing tactics which will help the business in
attracting customers towards the showroom. Also, the marketing budget will be strict and cost
effective as it is a cost oriented budget showroom.
Collaborative marketing strategies
It is a marketing strategy which involved working together in order to promote the brand
and minimize cost and in crease sales. Collaborative marketing is sharing the resources which
assist in increasing the sales and enhance the brand image. The Astera showroom in order to
enhance the brand image will work with the media and promote the products and services
through the advertisement in the television and other places moreover, Astera in order to enhance
the brand will collaborate with the local retail jewellers which have goodwill in the market to
attract the customers towards the products and services offered by Astera. The marketing
strategy of Astera showroom is the least cost but highly effective.
By working collaboratively Astera will be able to attract customers from different places
by providing them information about the uniqueness of the business which is it will provide
customized ornament on the demands of customers which are not provided by any other
showroom moreover, it will also have machined cut ornaments which will be made up of gold,
silver and diamonds and just not only the handmade ornaments. Using the marketing strategy
Astera will be able to gain customer attraction Which in turn will increase the sales of the
Showroom. For attracting the potential customers it will offer the existing customers with offers
and discount which will help in attracting the new customers towards the showroom. The
reviews of customers has huge influence on buying decision of customers. Moreover, it will
make use of virtual reality technology which will assist in promoting the products and services of
the Astera showroom.
Collaborative marketing strategies can help the business in their growth and success and
will also support the showroom in gaining the competitive advantage in the market by proving
the products which are not available in the market. The Astera showroom will provide the
customers with unique and vintage ornaments design. The collaborative marketing strategy
adopted by Astera will assist in making partnership with other companies to promote their
products and services such as ait can make use of the celebrity and models to wear their
ornaments and shoot the videos and pictures which can be used for promoting the ornaments
33

offered by this showroom. With the help of collaborative working the Astera will be able to
retain the customers for the long run in business which will be beneficial for the growth and
success of the business.
Online marketing
The online marketing is the growing trend which is being adopted by various companies
to promote their products and services. It is promoting the products and services through use of
internet. Online marketing is the growing grand which assist in attracting the customers towards
the products and services. There are various organisation which are using social media platform
for promoting their products and services which consist of Facebook, Instagram, Twitter etc. the
Astera showroom will make use of social media to promote the ornaments which are made up by
them of gold, silver and diamonds through use of Facebook and Instagram to gain the customer's
attraction by posting the images of the ornaments on their page.
Online marketing will assist in making the communication faster between the business
and customers which will assist in attracting the customers towards ornaments which have
unique designs. With the help of online marketing the customers are able to make order for the
customized design for the ornaments through the website of Astera showroom which will
provide the customers with the options to order their ornaments through help of online platforms.
Moreover, there will be webpage for the Astera showroom that will provide information about
the showroom location, contact, products and services etc. Also, there will be photo gallery
which includes the pictures of ornaments made up of gold, silver and diamonds and the interior
of the showroom which will assist in attracting the customers towards the showroom. Moreover,
they can ask the queries through the social media messages which will solved by the showroom
staff to provide convenience and better experience to the customers at the showroom.
Management team
Astera showroom will provide the customers with unique design for the ornaments made
up of gold and silver and it will require the staff for management of the business operations. As it
is a new business it will have less staff which will take care and manage the operation so the
business. The structure of the showroom will be as follows :
Accountant 1 position
Customer attendant 4 position
34

Cleaning staff 2 position
Gold specialist 1 position
Manager 1 position
HR 1 position
The Astera showroom is a new business so it will have fewer employees which will
consist of 10 employees that will operate in the manager supervision. The job description for
every position is stated below:
Job title : Accountant
Report to : Manager
General description
It is the person that maintains the accounting information. It will record every financial
flow of Astera showroom. It is required to monitor and control the cash flow of the showroom
to pay the salary and to perform company's operation.
Duties and responsibilities
 To prepare statement of profit and loss and also the monthly closing and cost accounting
reports.
 To prepare the journal entries and ledger accounts by analysing and compiling the
financial information.
 To maintain and establish the implementation of procedures of accounting control.
 To provide suggestion to organisation regarding improving their financial performance
and profitability.
 To prepare and review budget, revenue, expense and payroll entries along with invoices
and other documents of accounting.
Knowledge and skills required
 Working experience of at least 2 years as accountant
 Honest and integrity
35

 Knowledge about using Microsoft and advanced excel.
 Interpersonal skills
Job title : Customer attendant
Report to : Manager
General description
Customer attended is responsible for attending the customers and provide them services
and good experience at the showroom.
Duties and responsibilities
 To attend the customer while entering in the showroom
 To take order for design of customized ornaments.
 To provide customers with ornaments design for selection
 To communicate with customer regarding their requirements about gold, silver and
diamonds.
Knowledge and skills required
 Must have good communication skills.
 Capable of writing and speaking English in fluent manner.
 One year experience in the same industry
 Knowledge about customer preferences.
 Honesty and integrity
 Must have Good interpersonal skills.
Job Title : Cleaner
Report to : Manager
General description
It is required to have clean and hygienic environment to attract the customers towards
the showroom and to provide healthy and safe environment to the employees and customers.
Cleaner in the Showroom is required to clean the mirror and the floor to have shining floor and
36

environment which will make the customers happy.
Duties and responsibilities
 To clean the showroom and the facilities areas such as toilet etc.
 To perform and trace activities of maintained and routine inspection .
 To perform different cleaning actions such as dusting, sweeping, cleaning the floor,
mirror etc.
 To cooperate with other staff members.
Knowledge and skills required
 It must posses the working experience as cleaner.
 It is required to have the high school degree.
 Honesty and integrity
 Good interpersonal skills are required
 It is required that the cleaner should have the capability to work in team.
Job title : Gold specialist
Report to : Manager
General description
It is responsible for identifying the market of gold, silver and diamonds and to identify
the value of gold for selling to customers.
Duties and responsibilities
 To calculate the price of gold for making changes in the price of ornaments
 To determine the value of old gold for exchanging with the new one by adding price
 To analyse the market trend of gold, silver and diamond
knowledge and skills required
 Must be specialist in gold and possess the degree.
 It is required to have 3 years experience as the gold specialist in the same industry.
 Honesty and integrity
 good interpersonal skills
 Analytical and communication
37

Job title : Manager
Report to : Owner
General description
It is responsible for managing the staff members and managing the operations.
Moreover, it is responsible to observe that the staff is performing well and customers are
satisfied by the services provided by Astera Showroom. It will monitor the work of the staff
members and will guide and provide them direction whenever they feel any difficulty. It will
also responsible for improving the customer and employee satisfaction and maximising the
financial performance of the Astera Showroom.
Duties and responsibilities
 To observe the cleaning staff and make sure the showroom is clean and mirror and floor
is shiny.
 To take feedback from employees regarding improvement in operation to improve
customer experience.
 To take feedback from customers regarding the services provided at the showroom
 To treat every employee fairly and respected.
 To handle customer complaints
 To maintain record of staff
 To ensure good services and facilities are provided.
 To maintain budget along with employees, preparing the pay bills and monitoring the
record keeping.
Knowledge and skills required
 It is required to have educational degree with high schooling.
 Must have experience of 2 years in jewellery business
 Must posses the skills of managing the operation and time management.
 Good communication skills to communicate with employees and customers effectively.
 Honesty and integrity
 Knowledge of the industry
Job title : HR manager
38

Report to : Owner
General description
It is responsible for hiring employees for the Astera showroom. It is required to ensure
requirement of employees in the Showroom and provide training ton them and motivate them to
improved their performance for achieving the organisation growth and success.
Duties and responsibilities
 To hire and fire employees
 To provide training to the staff for improving their performance.
 To provide job satisfaction ton the employees
 To provide appraisal;s and salary to the employees
Knowledge and skills required
 Experience of the same profession in the jewellery businesses or any other business of 2
years.
 Good communication skills.
 Excellent interpersonal skills.
 Influencing skills
 Motivator
Risk assessment
It is a term used for describing the risk associated with research and identifying measures
for eliminating and controlling risk. Also, risk assessment giver information regarding the risk
associated with the business. It is required to managed the risk properly. The following are the
risk identified due to opening of Astera showroom:
 Leasing of land : For the establishment of the Showroom it will be require to have
acquired the land on lease which require the permission from the local authority.
 Delay in construction : Another risk associated with the establishment of Astera
showroom is delay in construction which means if there is any delay in construction will
affect the operation of Astera showroom.
 Market research : It is possible that the information collected through primary and
secondary sources is wrong.
39

 Risk related to license : It is required to acquire the license for performing operation in
gold, silver and diamonds ornaments and if there are any problems in getting the licences
it will affect the business establishment.
Operating process
Security guard Open the door for the customers and greet the
customers and guiding them towards reception
Customer attendant Greeting and welcomes the customer and take
them towards the section as per their
requirement for gold, silver and diamond.
Taking customer toward the payment gateway
and collect the bills and thank them for
purchasing the ornaments.
Porter With a smile on face sayb thank you and says
visit again to customer.
FINANCIAL PLAN
Set-up capital
Set-up capital
Description Price Quantity
Total (in
Rs)
Developing online website for Astera business 1200
Development of decor 1700
Furniture and fixtures 1000
Business licence fees 800
Suppliers commission 2500
salary to staff 3500
computer for billing and record keeping 170
development of machines for ornaments 1300 1 1300
40

Mirrors 1 40 40
Air conditioners 55 2 110
Decorations 68
lightings 10 10 100
Equipments for cutting ornaments 36 2 145
Separate wash room 60
Rent 2500
Benches 200 8 1600
security camera 77.6 9 700
Advertising 2000
Total fixed cost 19493
operating capital 2500000
hire purchase (6months) 1200000
Total budgeted capital 3700000
Projected cash flow for 1st year
Projected cash flow statement for the first year (amount in rupees)
Particulars
Initial
investm
ent
Jan
uary
Febr
uary
Mar
ch
Apri
l May June July
Aug
ust
Sept
emb
er
Octo
ber
Nov
erm
ber
Dece
mbe
r
Revenue through
gold
Total number of
consumers 3500 3850 4235
4658
.5
5124
.35
5636
.785
6200
.463
5
6820
.509
85
7502
.560
835
8252
.816
9185
9078
.098
6103
5
9985
.908
4713
85
Average selling
price 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16 9.16
Total revenue
through gold
3206
0
3526
6
3879
2.6
4267
1.86
4693
9.04
5163
2.95
5679
6.24
6247
5.87
6872
3.45
7559
5.80
8315
5.38
9147
0.92
41

6 06 566 0226
7248
6
2973
46
3270
806
1597
8866
Revenue through
silver
Total number of
consumers 1842
2026
.2
2228
.82
2451
.702
2696
.872
2
2966
.559
42
3263
.215
362
3589
.536
8982
3948
.490
5880
2
4343
.339
6468
22
4777
.673
6115
042
5255
.440
9726
546
Avergage selling
price 9.25 9.25 9.25 9.25 9.25 9.25 9.25 9.25 9.25 9.25 9.25 9.25
Total revnue
through silver
1703
8.5
1874
2.35
2061
6.58
5
2267
8.24
35
2494
6.06
785
2744
0.67
4635
3018
4.74
2098
5
3320
3.21
6308
35
3652
3.53
7939
185
4017
5.89
1733
1035
4419
3.48
0906
4139
4861
2.82
8997
0552
Revenue through
diamond
Total number of
consumers 6000
1200
0.1
2400
0.3
4800
0.7
9600
1.5
1920
03.1
3840
06.3
7680
12.7
1536
025.
5
3072
051.
1
6144
102.
3
1228
8204
.7
Average selling
price 9 9 9 9 9 9 9 9 9 9 9 9
Total revenue
through diamond
5400
0
1080
00.9
2160
02.7
4320
06.3
8640
13.5
1728
027.
9
3456
056.
7
6912
114.
3
1382
4229
.5
2764
8459
.9
5529
6920
.7
1105
9384
2.3
Total revnue
( cash inflows)
1030
98.5
1620
09.2
5
2754
11.8
85
4973
56.4
035
9358
98.6
1385
1807
101.
5252
35
3543
037.
6877
585
7007
793.
3865
3435
1392
9476
.495
1878
2776
4231
.594
7066
5542
4269
.564
1772
1107
3392
6.05
0595
42

operating
expenses
Developing online
website for Astera
business 1200 2000
4000
.1
8000
.3
1600
0.7
3200
1.5
6400
3.1
1280
06.3
2560
12.7
5120
25.5
1024
051.
1
2048
102.
3
4096
204.
7
Development of
decor 1700 1000 1150
1322
.5
1520
.875
1749
.006
25
2011
.357
1875
2313
.060
7656
25
2660
.019
8804
688
3059
.022
8625
391
3517
.876
2919
199
4045
.557
7357
079
4652
.391
3960
641
Furniture and
fixtures 1000 1200 1000 1400 1600 1200 1400 1500
Business licence
fees 800 800 800 800 800 800 800 800 800 800 800 800 800
Suppliers
commission 2500 1800 1700 1600 1200 1100 1000 1300 1400 1600 1800 2000 2351
salary to staff 3500 3500 3500 3500 3500 3500 3500 3500 3500 3500 3500 3500 3500
computer for
billing and record
keeping 170 115
123.
05
131.
6635
140.
8799
45
150.
7415
4115
161.
2934
4903
05
172.
5839
9046
26
184.
6648
6979
5
197.
5914
1068
07
211.
4228
0942
83
226.
2224
0608
83
242.
0579
7451
45
development of
machines for
ornaments 1300 1400 1512
1632
.96
1763
.596
8
1904
.684
544
2057
.059
3075
2
2221
.624
0521
216
2399
.353
9762
913
2591
.302
2943
946
2798
.606
4779
462
3022
.494
9961
819
3264
.294
5958
765
Mirrors 40 80 120 140 160 170 200
Air conditioners 110 260 450 560
1120
.025 790 860 1050 1120 1560
Decorations 68 120 150 160 180 220 230 250 330 320 360 400 420
lightings 100 190 180 270 360 450 500 650 850 630 450 860 960
Equipments for
cutting ornaments 145 165 142 152 168
43

Seperate
washroom 60 120 320 250 120
Rent 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500
Benches 1600 800 450 400 800
security camera 700 250 150 360 280 350
Advertising 2000 1250
1268
.75
1287
.781
25
1307
.097
9687
5
1326
.704
4382
813
1346
.605
0048
555
1366
.804
0799
283
1387
.306
1411
272
1408
.115
7332
441
1429
.237
4692
428
1450
.676
0312
814
1472
.436
1717
507
Total expenses
(cash outflow) 19493
1493
5
1766
3.9
2393
0.20
475
3078
3.17
4713
75
4763
4.63
6773
4313
7855
9.41
4948
906
1454
52.3
7288
8138
2732
84.0
4486
7682
5317
21.5
3230
0859
1043
206.
2430
4854
2070
227.
2511
6926
4120
096.
8801
3821
Net cash flow 19493
8816
3.5
1443
45.3
5
2514
81.6
8025
4665
73.2
2878
625
8882
63.9
7707
6569
1728
542.
1102
8609
3397
585.
3148
7036
6734
509.
3416
6667
1339
7754
.962
8869
2672
1025
.351
658
5335
4042
.313
008
1066
1382
9.17
0457
operating capital
250000
0
Investment
500000
00
Hire purchase
reserve
120000
00
Opening cash
balance
350000
0
2200
000
4500
000
5200
000
7200
000
9500
000
1221
0000
1245
4200
1307
6910
1386
1524
.6
1552
4907
.552
1862
9889
.062
4
2235
5866
.874
88
Closing cash
balance
220000
0
4500
000
5200
000
7200
000
9500
000
1221
0000
1245
4200
1307
6910
1386
1524
.6
1552
4907
.552
1862
9889
.062
4
2235
5866
.874
88
2682
7040
.249
856
44

Projected profit and loss statement
Forecasted Profit and loss statement for Astera
Business for 1 year
Particulars
Initial
invest
ment
Jan
uary
Feb
ruar
y
Mar
ch
Apri
l May
Jun
e July
Aug
ust
Sept
emb
er
Oct
ober
Nov
emb
er
Dec
emb
er
Revenue through
gold
3206
0
3526
6
3879
2.6
4267
1.86
4693
9.04
6
5163
2.95
06
5679
6.24
57
6247
5.87
02
6872
3.45
72
7559
5.80
3
8315
5.38
33
9147
0.92
16
Revenue through
silver
1703
8.5
1874
2.35
2061
6.58
5
2267
8.24
35
2494
6.06
79
2744
0.67
46
3018
4.74
21
3320
3.21
63
3652
3.53
79
4017
5.89
17
4419
3.48
09
4861
2.82
9
Revenue through
diamond
5400
0
1080
00.9
2160
02.7
4320
06.3
8640
13.5
1728
027.
3456
056.
6912
114.
1382
4229
2764
8459
5529
6920
1102
5938
45
Illustration 9: Startup cost for Astera business
(source: Created by author)

9 7 3 .5 .9 .7 42
Total revenue
1030
98.5
1620
09.2
5
2754
11.8
85
4973
56.4
035
9358
98.6
139
1807
101.
5252
3543
037.
6878
7007
793.
3865
1392
9476
.495
1
2776
4231
.594
7
5542
4269
.564
2
1102
7339
25.7
506
Less: cost of
revenue
8000
0
8200
0
1000
00
1100
00
2400
00
2500
00
2600
00
2700
00
2800
00
2900
00
3000
00
3100
00
Gross profit
2309
8.5
8000
9.25
1754
11.8
85
3873
56.4
035
6958
98.6
139
1557
101.
5252
3283
037.
6878
6737
793.
3865
1364
9476
.495
1
2747
4231
.594
7
5512
4269
.564
2
1102
4239
25.7
506
Gross profit
margin
40.0
0%
50.0
0%
60.0
0%
70.0
0%
70.0
0%
80.0
0%
80.0
0%
81.0
0%
82.0
0%
83.0
0%
80.0
0%
85.0
0%
Operating
expenses
Developing online
website for Astera
business 1200 2000
4000
.1
8000
.3
1600
0.7
3200
1.5
6400
3.1
1280
06.3
2560
12.7
5120
25.5
1024
051.
1
2048
102.
3
4096
204.
7
Development of
decor 1700 1000 1150
1322
.5
1520
.875
1749
.006
25
2011
.357
1875
2313
.060
7656
25
2660
.019
8804
688
3059
.022
8625
391
3517
.876
2919
199
4045
.557
7357
079
4652
.391
3960
641
Furniture and
fixtures 1000 1200 1000 1400 1600 1200 1400 1500
Business licence
fees 800 800 800 800 800 800 800 800 800 800 800 800 800
Suppliers
commission 2500 1800 1700 1600 1200 1100 1000 1300 1400 1600 1800 2000 2351
salary to staff 3500 3500 3500 3500 3500 3500 3500 3500 3500 3500 3500 3500 3500
computer for billing
and record keeping
170 115 123.
05
131.
6635
140.
8799
150.
7415
161.
2934
172.
5839
184.
6648
197.
5914
211.
4228
226.
2224
242.
0579
46

45 4115
4903
05
9046
26
6979
5
1068
07
0942
83
0608
83
7451
45
development of
machines for
ornaments 1300 1400 1512
1632
.96
1763
.596
8
1904
.684
544
2057
.059
3075
2
2221
.624
0521
216
2399
.353
9762
913
2591
.302
2943
946
2798
.606
4779
462
3022
.494
9961
819
3264
.294
5958
765
Mirrors 40 80 120 140 160 170 200
Air conditioners 110 260 450 560
1120
.025 790 860 1050 1120 1560
Decorations 68 120 150 160 180 220 230 250 330 320 360 400 420
lightings 100 190 180 270 360 450 500 650 850 630 450 860 960
Equipments for
cutting ornaments 145 165 142 152 168
Seperate washroom 60 120 320 250 120
Rent 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500
Benches 1600 800 450 400 800
security camera 700 250 150 360 280 350
Advertising 2000 1250
1268
.75
1287
.781
25
1307
.097
9687
5
1326
.704
4382
813
1346
.605
0048
555
1366
.804
0799
283
1387
.306
1411
272
1408
.115
7332
441
1429
.237
4692
428
1450
.676
0312
814
1472
.436
1717
507
Repairs and
maintenance 7000 8050
9257
.5
1064
6.12
5
1224
3.04
375
1407
9.50
0312
5
1619
1.42
5359
375
1862
0.13
9163
2812
2141
3.16
0037
7734
2462
5.13
4043
4394
2831
8.90
4149
9554
3256
6.73
9772
4487
Total operating
expenses 19493
2193
5
2571
3.9
3318
7.70
475
4142
9.29
9713
75
5987
7.68
0523
4312
9263
8.91
5261
406
1616
43.7
9824
7513
2919
04.1
8403
0964
5531
34.6
9233
8632
1067
831.
3770
9198
2098
546.
1553
1921
4152
663.
6199
1065
Operating profit -19493 1163 5429 1422 3459 6360 1464 3121 6445 1309 2640 5512 1098
47

.5 5.35
24.1
8025
27.1
0378
625
20.9
3337
6569
462.
6099
3859
393.
8895
5249
889.
2024
6904
6341
.802
7614
6400
.217
608
4269
.564
2
2712
62.1
3069
Operating margin
1.13
%
33.5
1%
51.6
4%
69.5
5%
67.9
6%
81.0
4%
88.1
0%
91.9
8%
94.0
2%
96.1
1%
99.4
6%
99.6
0%
less: corporate tax
-
4873.2
5
290.
875
1357
3.83
75
3555
6.04
5062
5
8648
1.77
5946
5625
1590
05.2
3334
4142
3661
15.6
5248
4648
7803
48.4
7238
8122
1611
472.
3006
1726
3274
085.
4506
9034
6601
600.
0544
0201
1378
1067
.391
05
2745
6781
5.53
2672
Net income
-
14619.
75
872.
625
4072
1.51
25
1066
68.1
3518
75
2594
45.3
2783
9687
4770
15.7
0003
2427
1098
346.
9574
5395
2341
045.
4171
6437
4834
416.
9018
5178
9822
256.
3520
7103
1980
4800
.163
206
4134
3202
.173
15
8237
0344
6.59
8017
Net profit margin
0.85
%
25.1
4%
38.7
3%
52.1
6%
50.9
7%
60.7
8%
66.0
7%
68.9
9%
70.5
1%
71.3
3%
74.5
9%
74.7
0%
Critical success factor of Astera business
It is considered as management term which is necessary for an organisation in order to
achieve its objectives. This is the type of activity which perform by entity in order to ensure its
business success. This method is mainly conducted through analysing the data which are related
to business transactions (Wallace and Sheldon, 2015). Here, measurement done with the
operating expenses, net income and total revenue which incurred by entity during a financial
year. This analysis mainly done by the managers and owners so that better business strategies
will get develop for meeting business objectives and future goals. Through this analysis, areas
get evaluated which required to improve in organisation so that high performance work will get
achieved. This is the process which includes issues which are important for current operations of
business and for achieving future success. however, in context with Astera organisation, critical
success factors might sound very complex but it is mainly very complex in order to analyse the
areas which needs to improve in the organisation. In simple words, this is the most important
factor for developing business strategies for meeting business needs. It provides advantage to
department or organisation so that high level objectives get achieved.
48

The critical factor regarding business success of Astera organisation is its business
function where they are providing customised ornaments to customers of all age group. Another
critical factor of this entity is that it is providing jewellery in the mixture of both traditional and
western culture so that people who live in India as well tourists also get attracted. Another
success factor of Astera organisation is that it has virtual reality where customers will able see
designs of their jewellery with three-dimensional image so that proper analysis will get
developed. this is the most unique way through which customers will easily get attracted.
Customers also able to get vintage jewellery so that if they want to wear any traditional form of
ornaments they will easily able to wear. Furthermore, it is associated with the strategy of
business where so that loyal development of customers will get developed at the initial stage
only. Thus, it can be said that with this process, Astera business will able to sustain effectively in
this competitive market of the jewellery. However, it is been analysed with the porter's five
model that in Mumbai there will be a tough competition for a person to start a business of
jewellery in such porch area.
However, in the context of Astera business, it is also analysed that entity is providing a
effective customer support services because they are considering customer at its heart. In this
aspect, it is also analysed that such business is also providing effective scheme to its consumers
that if they cannot able to afford purchase of jewellery in a bulk then they have the option to pay
it in monthly instalments. another strategy which affect customer in this business is that entity is
providing investment scheme where customers have the options to invest some amount of money
in a small portion in business and in return entity at the time of maturity will provide no making
charges when customers will buy ornaments.
Another critical success factor of Astera business is its effective role which played by
employee. It is analysed that employee of this entity are very significant. They are very friendly
and provide appropriate suggestions to customers in order to buy effective items. This business
also have website through which they are providing significant notifications regarding discounts
like free making charges to customers. Marketing of Astera business also effective where they
mainly promote its services with the use of social media marketing and emailing marketing so
that direct communication will gets developed to them.
However, in the same series. Astera business is also providing each and every detail
regarding billing details so that business operations will get developed through proper
49

transparency and honesty. This is the most critical factor which helps Astera in developing a
good loyal base to customers. Its interior is also developed with such effective decor that each
and every customer enjoy its time till they purchase something. Entity is also providing low
making charges to customers so that they do not hesitate in purchasing their own preference of
ornaments. These are some of its critical success factor because of which entity will able to
achieve effective profitability during the first year of its operations. The concept which has
brought by the entity is unique and because of which customer get attracted for the services of
this business. In order to attract the actress and brides, entity has created an effective marketing
strategy because of which it has achieve its business success during the first quarter of business
only. However, in nutshell, critical success factors of Astera business is as follows-
Unique products designs
Effective customer services
Own official website
Development of virtual reality
Customised jewellery
Designs have the mixture of both traditional and western pattern
Delightful customer experience
Low making charges
Experienced management team
Strategic location
PART 2 - RESEARCH REFLECTION REPORT
Research methods and
process
On the basis of the above study, I have gathered numerous
information’s about the Mumbai which is one of the largest city of
India. India has a culture in which jewellery has been provided a
specific and important place. In this regard, jewellery market
contains the largest profit margin in India. In addition, the Mumbai
contains the largest populations of India. The gold is the largest
selling metal of Indian jewellery market. Further, the market also
sales silver, metal and diamond made jewellery along with the
50

gold. In this regard, I have decided to open a jewellery business in
Mumbai as the probability of gaining highest market share and
profitability is highest in this city of India.
Further, I have decided to open the business with the name
of Astera. It is an Iranian originated name that means the star, a
symbol of like and a pleasant thing. Jewellery is among those
things that provides a pleasant feeling to everybody and have
power to attract each person towards it. Therefore, I think, this
name is the most appropriate name for a jewellery business.
From the deep study of the market, I have analysed that the
major challenge in this market is to gain the trust of customers. In
this regard, I have decided to attract the customers towards the
business by providing them the most attractive offers over the
jewellery. Furthermore, I have also decided to incur a sufficient
amount of cost over the ambiance of the shop and providing
sufficient facilities and comfort to the customers as well. It would
result in attracting the customers towards the business through
which we would get an opportunity to gain their trust by providing
them the most appropriate product and services.
In the business structure report of the Astera, I have
involved the interior design of the shop as per which I have decided
to place a 3D displayer where I will put the most unique design of
over business. In addition, I will also put attractive large mirrors in
the shop where customers can see themselves wearing the
jewellery. Furthermore I have also decided to design the wall in
such a way so that it could show the tradition of India which is the
most suitable design for a jewellery shop.
The Astera is being made of 10 employees including
Manager, Accountant. Cashier, sales persons, cleaning staff, etc. I
have also assessed the risk of the business. After a complete
analysis, I have identified the risk in the Jewellery market in
51

Mumbai as under:
Basis of risk Risk Likely
Raising funds Serious High
Customer attraction Serious Low
Risk of theft Serious Medium
Licensing risk Serious Low
Natural calamities Serious Low
Lack of maintaining
sufficient metals for
jewellery
Serious Medium
Literature and sources REFERENCES
Books and Journals
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An introduction to qualitative and quantitative approaches.
Sage Publications.
Fink, A., 2019. Conducting research literature reviews: From the
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Jewellery Demand and Gold Price Volatility: A Global
Perspective.
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Economic on Jewellery Product. Revista Publicando. 5(18).
pp.89-101.
Klotz, U.E. and Fryé, T., 2019. Mechanical Properties of Platinum
Jewellery Casting Alloys. Johnson Matthey Technology
Review.
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Matching Process in India: An Analysis of the Matching
Function Using State-Level Panel Data. Emerging Markets
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the pitching template to qualitative research. Accounting &
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Agreement. Journal of International Commerce, Economics
and Policy, p.1950003.
Pereira, B and et.al., 2019. Building blocks of the luxury jewellery
industry: conversations with a CEO. Asia Pacific Journal of
Marketing and Logistics.
Vyas, P.K., 2019. Proposition of a Selection Matrix for Use of
Nonconventional Materials in Jewellery and Ornamental
Applications. In Research into Design for a Connected
World (pp. 495-504). Springer, Singapore.s
Hakansson, H., 2015. Industrial Technological Development
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Application of Critical Systems Practice to Improve a
Business Intelligence System's Business
Requirements. Systems Research and Behavioral Science.
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Antwi, S. K. and Hamza, K., 2015. Qualitative and quantitative
research paradigms in business research: A philosophical
reflection. European Journal of Business and
Management. 7(3). pp.217-225.
53

Ebel, P., Bretschneider, U. and Leimeister, J. M., 2016. Leveraging
virtual business model innovation: a framework for
designing business model development tools. Information
Systems Journal. 26(5). pp.519-550.
Kolk, A., 2016. The social responsibility of international business:
From ethics and the environment to CSR and sustainable
development. Journal of World Business. 51(1). pp.23-34.
Eriksson, P. and Kovalainen, A., 2015. Qualitative methods in
business research: A practical guide to social research.
Sage.
Johnson, L. and et.al., 2016. NMC horizon report: 2016 higher
education edition (pp. 1-50). The New Media Consortium.
Wallace, M. and Sheldon, N., 2015. Business research ethics:
Participant observer perspectives. Journal of Business
Ethics. 128(2). pp.267-277.
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through < https://www.behance.net/gallery/35695261/Afro-
Indo-Fusion>
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<https://research-methodology.net/research-methods/data-
collection/>
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through <https://www.smartinsights.com/marketing-
planning/marketing-models/product-life-cycle-model/>
Kaushik, S.P., 2013. Export of Gems and Jewellery from India-
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208/1/synopsis.pdf >
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qualitative.html>
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public-relations-and-why-is-it-important/ >
Wilkonson, K., 2018. The 8 Tools Every Jewellery Maker Needs.
[Online]. Available through <
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jewelry-maker-needs >
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through <https://www.dhgate.com/product/vintage-black-
epoxy-rings-for-mens-black/407902139.html>.
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through:<http://www.zebandhaniya.com/unique-wedding-
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Clarity-G-/172071216015>
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:<https://www.pinterest.com/pin/301178293805485095/>
55

Your knowledge I have decided to sale gold, silver and diamond jewellery to the
customers. As per my research, I have the silver jewellery is the
most popular product of the whole jewellery market. Furthermore,
its fabrication is also very easy. Furthermore, the silver plated
jewellery is also one of the largest exported product. In this regard,
I have decided to place it at the priority list of the selling products
and for advertising and displaying purpose as well.
In the present time, diamond jewellery are also popular.
Although, diamond is the most expensive metal in the whole world,
in this regard, its making is also very costly. Therefore, I have
decided to fabricate the diamond jewellery on the customised basis
only. For the displaying purpose, I have decided to display a few
diamond jewelleries in the display with a tight security.
I have also analysed the jewellery market analysis report of
India. As per this report, the Indian jewellery demand has been
grew by approx 13 percent in recent years. The export business of
jewellery has also been raised by 15% in recent years. Further, by
analysing the jewellery market, I have also evaluated that the as the
jewellery market provides the maximum revenue to government,
due to this reason, the government of India provides various
benefits to the jewellery business holders (Market Size of
Jewellery, 2018.). In addition with a view to initiate the export of
jewellery products, the government has liberalised the export rules
along with reducing the tax rate over it. This decision of the
government has resulted in enhancing the FDI to 51%. further, due
to these initiatives the jewellery market is blooming in the India.
In this regard, by analysing a huge growth in this market, I have
56

decided to open a jewellery business in Mumbai.
The reason behind opening the business in Mumbai was the
population of the city and the Mumbai being the most attractive
tourist place of the India. For the purpose of targetting the domestic
population along with the tourists, I have decided to open the
business in Mumbai. Simultaneously, with the view to attract the
customers of target market, I have decided to create the most
attractive advertisement of the business with the help of a well
known personality. In order to attract the customers, I have also
decided to design the wall of the shop with the traditional pictures
and fit bright lighting at everywhere in the shop as well. With the
help of putting the 3D display for the unique jewellery, I would try
to gain the attention of the customers.
According to the risk management analysis, I have
evaluated that the major risks of the jewellery business is risk of
theft and fund management. For the purpose of developing the
capability of the organisation as to face these risks, I have
developed tight security in all over the area of the shop. Further for
the purpose of managing the funds, I have analysed each sources of
generating the funds.
Your learning This research has provided me better understanding about the
jewellery industry. I have understood that by selecting a unique
business idea such as Astera showroom will be beneficial for the
growth and success of the business and attracting customers
towards the products and services provided by the business. There
are unique design of ornaments which attract the customers
towards the showroom. It is a new business development which
will provide customized ornaments to the customers. I have
performed appropriate analysis of business scenarios and have used
57

the models in this research and also identified the risk mitigation
for reduce and eliminating the risk factor. Also, In this project I
have used the porter five forces analysis which has helps me in
understanding and gathering information regarding the industry.
This business idea is unique as it will provide unique and
customized design to the customers which have increased the
chances of profitability of this business. There is high threat of
competitors because it is the profitable business and many people
are attracted in doing this business. With this business Plan I have
learned that establishing a business require lo of information
regarding the market, target customer, impact of various factors
etc. I have done the market research to identify the market for the
business as there is high threat of new entrant and also there are
substitute products available in the market which may affect the
business but as this business is providing the customized ornaments
and machine made ornaments which are not provided by any other
marketers assist in gaining competitive advantage for the business.
I have got knowledge about the prices of gold and the changes in
the price of gold as it is business whereas the prices are fluctuating
which affect the business operations. This business plan report also
helps me in eliminating the gap of writing research study through
which my communication, interpersonal and time management
skill gets enhanced. Through the appropriate online sources,
journals and article my knowledge of conducting business
operations in the city of Mumbai gets enhanced. In order to get
through research objectives, I have initiated secondary market
analysis in the choice of methodology. This is the way through
which I will able to provide validity in my work. During this
research business plan, I have also provided appropriate financial
statements which include income statement for the first quarter
with appropriate cash flow statement. Through such statements I
58

will able to develop the type of revenue and profit which has been
incurred by the entity with its effective marketing strategies. This
helps me in developing my interpersonal and communication skills.
Moreover, other than this my writing skills will also get enhanced
and as a result of which I will able to further conduct more
effective business research in the market. Thus, it can be said that
in order to develop effective learning this business research helps
me in conducting efficient study upon which other market
researcher will also able to relay. During this work I did not have
provided any bias content therefore, this is the study under which
validity of work gets generated.
Critical thinking and your
ideas
Before, choosing this market as a chosen business, I have analysed
various areas. The presence of the largest amount of population and
being in the list if the most visited tourist place, I have decided to
open the business in the Mumbai. Although, I would require a huge
amount of operating capital for opening this business, but
containing the largest part of profit margin, I would be able to
regain the capital along with generating a huge amount of profit
from the business. However, in the same series. Astera business is
also providing each and every detail regarding billing details so
that business operations will get developed through proper
transparency and honesty. This is the most critical factor which
helps Astera in developing a good loyal base to customers. Its
interior is also developed with such effective decor that each and
every customer enjoy its time till they purchase something. Entity
is also providing low making charges to customers so that they do
not hesitate in purchasing their own preference of ornaments.
These are some of its critical success factor because of which entity
will able to achieve effective profitability during the first year of its
operations. For the purpose of providing the best level of
59

satisfaction, to the customers, I have planned to design the best
interior and ambiance of the business. For enhancing the quality of
shopping experience, a special kids zone is going to be build in the
shop. Further, for constructing the business as per the business plan
and providing a smooth running to the business, I have also
prepared a budget report as per which I would need to place an
operating capital worth Rs. 25,00,000. further, for gaining accuracy
in the forecasting, I have prepared monthly budget. As per the
budgetary report the total expenses and debts of the business would
come around Rs. 41,52,663. after adjusting all the expenses and
debts, the net income of the business would be approx Rs.
80,17,745. By analysing the budgetary report of the business, I
have evaluated that the profit margin of the company is increasing
periodically. The major part of business analysis was the revenue
analysis of the business. As per such analysis, with the help of
planned business structure and business strategies, the Astera
would be able to earn a sustainable amount of revenue from the
business.
As per the competitive analysis, the jewellery market of
India contains a big amount of competition. In this regard, I have
made strong business strategies in this regard. On the basis of
analysis of the Porter-five-forces-analysis, each factor of this
model is having higher influence over this factor. In this order, the
a strong business strategy as to come over these factors has been
prepared as well.
In this order, I have evaluated that the Astera is going to
have a great and successful future in the jewellery market. With the
help of virtual reality, attractive ambiances and strong
advertisement strategies, the probability of the business. Therefore,
the decision of choosing the jewellery market for opening the
60

business can be evaluated as a good decision.
Barriers met While undertaking the research there were various barriers which
had affected the research which consist of the followings :
 There was a barrier in performance due to lack of time and
resource available
 It was difficult to find accurate information regarding the
industry from different sources as there was lot of
information available which created confusion.
 There were various websites which does not have access
due to which the more information was collected.
Objectives The objective of this is to establish business a business to penetrate
the gold, silver and diamond market in India. Furthermore, it has an
objective to outline the improvement in sales when penetrating in
Indian market. Other than this, it also has the objectives of gaining
competitive advantage by providing designs of vintage ornaments,
to outline the challenges which come across when penetrating in
Mumbai market and to outline the scope of customised vintage in
the market of Mumbai. However, other than this perspective of
business is to enhance the sales volume of company with the 10%
each year so that profitability gets generated. Here, the type of
services which provide by the Astera business is mainly fulfilling
the customer experience because they have effective skilled staff
which provide each and every detail of design and amount of gold
included in each jewellery they choose to wear. I have analysed the
organisational strategy where I found that in order to achieve the
competitive advantage entity is providing unique services of
customised products to its customers. I also analysed that entity is
providing creativity of services where they brought ornaments
which has the mixture of both traditional and western culture.
61

However, in order to analyse the organisational objectives, I have
also provided feasibility of each and every step through which
business operations will get conducted. Further, in this report I
have given details of each and every step through which such
business will get started where whole evaluation will get conducted
on description of business concept, feasibility of research,
development of business model and most essentially whole
business plan is provided with the statement like income statement,
cash flow statement and with start –up capital. In this report I have
gathered the data through secondary research technique where
proper evaluation will get developed by me. However, with the use
of secondary sources are authentic online sources, books, scholarly
journals and articles have been provided by me. In order to provide
the effective analysis, in this report I have provided proper
evaluation with the graphs and table presentation.
This is the report under which there is presence of multiple
actionable assumption as it has revenue varies which mainly
associate to seasonal fluctuations. It is because Indian people
mainly consider to buy ornaments when there is suitable occasion
in the family which however, comes seasonally. Thus, in order to
analyse market situation of Mumbai in context of jewellery, I have
conducted this evaluation through the two most appropriate models
that are porter’s five forces and SWOT analysis, where I have
mentioned the current market trend of jewellery in India and
especially in Mumbai where I have mentioned that India's is best
known for the cutting and making design of jewellery. Infect it is
the largest manufacturer of cutting and polishing diamonds across
the world and it is exporting 93% of its production across the
world.
62

Findings and outcomes For presenting reliability work, I have conducted this report with
the use of appropriate secondary research techniques where
through the use of scholarly articles, journals and books
information has been presented. However, other than this, while
considering the outcomes of feasibility of research plan it will be
evaluated that in order to conduct operations in the market of gold,
silver and diamonds there are multiple strategies which may an
owner will able to brought for achieving valuable competitive
advantage. In this report, in the context with industry analysis I
have evaluated the feasibility of study with proper development of
graphs where in today's world 12 out of 14 diamonds are mainly
sold across the world will either be polished or cut in India. Thus,
jewellery sector is one of the largest sector in India.
Further in this report, entity's growth and expectation in this
sector of business it is evaluated with the secondary source of
factor that companies are trying to expand their business in more
and more cities and in Mumbai there are approximately 100 gold
jewellery showrooms which indicate that Astera will face a tough
conception in order to conduct the business in Mumbai city. Thus,
by analysing this market condition I have decided to provide the
products which are of customised basis so that each age group of
person will able to wear the kind of jewellery which they want to
wear and which is also available in the mixture of both traditional
and western analysis.
It is also a fact that in the present era, price plays an important role
but in the business of gold, silver and diamond this factor does not
impact upon the profitability because such prices will be decided
through the current market value of gold, silver and diamond in the
share market. But the factor which influence the consumer mind is
63

the making charges. Thus, in my opinion I have presented the
financial strategy where a scheme will be provided to customer in
order to pay the payment of ornaments with the instalment. Further,
in this report I have presented the scheme of investment it is
because Indian people mainly invest their money in the market of
gold where to attract the middle and low class families I have
putted the option of investment scheme. This is the scheme under
which customer needs to provide a small portion of amount every
month to business which for the time of maturity period they have
selected and at the time of maturity they did not have to give
making charge amount and they will able to purchase ornaments
through the money which they have invested in a selected time
period.
By observing its operating process, entity has effective strategies
through which they will able to meet its future needs and
objectives. Thus, in order to analyse the key success factors
through which business have achieved profit during the first year of
business I have collected the data through which it is measured that
The critical factor regarding business success of Astera
organisation is its business function where they are providing
customised ornaments to customers of all age group. Another
critical factor of this entity is that it is providing jewellery in the
mixture of both traditional and western culture so that people who
live in India as well tourists also get attracted.
Furthermore, it is associated with the strategy of business through
which loyal development of customers will get acheiveds at the
initial stage only. Thus, it can be said that with this process, Astera
business will able to sustain effectively in this competitive market
of the jewellery.
Thus, it can be analysed that entity has effective strategy through
64

which they get success in developing effective loyal base of
customer during its first year of initiation of business itself. In
order to provide the products like indo-western jewellery and pearl
and stone based jewellery most of the customer captured by the
Astera business and through which they will able to achieve its
effective business profitability. However, in terms of providing
customised products, this strategy has mainly impressed customers
where tourists also get attracted for buying such ornaments of gold,
silver and diamond.
Your professional
development
During the work of this project I have demonstrated my
interpersonal and communication skills which is also in various
stages of work in order to develop work which is effective. During
the analysis of this project I will able to improve my listening skill
which helps in understanding vital information. Mu interpersonal
skills for this work also helps me positively in terms of succeeding
in developing effectual business plan report. However, on personal
level I mainly benefited from type of secondary research which I
have evaluated in this report. This research study helps me
increasing level of my motivation for studying so that I will able to
develop my career in conducting research study. This also helps me
in eliminating gap of conducting feasibility of elements like
products and services, marketing analysis through terms like
market size, capital etc. The most important part which has
enhance my personality during this work is my self-confidence
where I will able to complete this study in a proper time. My time
management skill also increased through this work and my
understanding in the business of jewellery will get enhanced.
Furthermore, with the result of preparing this business research
plan my professional interest on the issues which associated with
corporate strategies for conducting effective business of jewellery
65

will also get improved where I will able to analyse how businesses
develop strategies for gaining competitive advantage in business
market.
I have used the secondary sources for the purpose of making
research of over various areas of the business. I took the reference
of various journals, newspapers, articles and business statistics for
having a complete analysis of this jewellery business market. From
that analysis, I felt that the profitability of this market is at highest.
Furthermore, in India, due to its traditional culture, India have
have the largest market of the jewellery business. Further, as this
business contains a huge cost, the I felt that maintaining sufficiency
of the fund is the largest challenge for the business.
Further, for the purpose of maintaining certainty in the
business and maintaining smoothness in the working, and
eliminating in the risk of insufficiency of resources and suffering
from a huge amount of loss, I have prepared monthly budget in
which I have forecasted all the future income and expenses of the
Astera.
As per my analysis for running a jewellery business, I have
to take licence from the Government for selling gold, diamond and
other metal jewellery in India. I am planning to start the
construction of the building as per the planned structure, approx 1
year before the date of starting the business. It would help in
avoiding delay in the starting up the new business. Although, the
decoration and interior designing process of the business will start
just 3 to 4 months before the starting business.
After analysing the applied model i.e. the porter-five-
forces-analysis model, I have found that the Astera is needed to
design a core competitive strategy for the business along with the
66