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Business Development Report & Research Reflection - BioCatcher

   

Added on  2020-10-22

43 Pages14502 Words85 Views
Business Development Report &Research Reflection

EXECUTIVE SUMMARYThe present business proposal is about BioCatcher which will establish its business inValletta(Malta) in cosmetic sector. The business idea is completely based on herbal beautyproducts that will going to be offered in retail stores of BioCatcher, shopping mall and ecommerce sites in Valletta. The place is completed surrounded with sea and islands, thus theplace if popular among tourist. Malta not only attracts tourists but it also influences interest of itscustomers to visit beaches many times. Visiting beaches on regular basis creates various skinrelated diseases to customers like tanning, sun burn , skin allergies etc. This can be seen as thethreat for people which has been used by BioCatcher as the opportunity for choosing Valletta asthe best place for business expansion. BioCatcher will locate its retail outlet near beaches and shopping malls as these placesare very crowded and it would be easier for them to grab attention of customers. The estimatedprofits of BioCatcher in first year will be €7600 and this ratio will increase every year.BioCatcher will initial focus on successfully becoming successful in Malta and after attaining itstargeted goals and objective it will move for expansion in international market. It has beenassumed by the top management of the company that its revenue figures will increase with 15%in every year. It is predicted that revenue earning percentage of BioCatcher will increase withcoming years.BioCatcher will register as private firm in (Valletta)Malta and it will be operated bytotal five shareholders who will manage all business activities. These shareholders are highlyexperienced and are successful in their respective career zone. The company has targeted middleto higher class people of Malta for its herbal beauty products at the initial stage. But, afterestablishing successful business in Valletta, its top management has planned to focus tominimising their product prices in order to retain its customers for longer period of time.Business opportunity of BioCatcher has been accessed by adopting both the primary aswell as secondary sources of data collection in grab authentic information within the providedtime frame. Online surveys were also be selected by the company to adopt its customers in orderto analyse perception of local people as well as tourist of Valletta. This feasibility test havecontributed in accessing desired information by which it has been identified that scope of herbalbeauty product in Malta is very vast. The chosen place for establishment of BioCatcher is bestfor herbal cosmetic product as its customer are already facing issues related to skin and will

easily accept new product with natural ingredients. As a result, it can be said that businessopportunity for herbal beauty product is very broad and profitable for BioCatcher in Valletta.

Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2TOPIC: Business plan about herbal beauty products offering........................................................6BUSINESS DEVELOPMENT REPORT ......................................................................................6Introduction.....................................................................................................................................6Rationale.................................................................................................................................6Vision ....................................................................................................................................7Mission...................................................................................................................................7Design and structure of report................................................................................................7Relevant Models and Information sources used.....................................................................8Assumptions...........................................................................................................................8Timescales for Achievement..................................................................................................8BUSINESS CONCEPT...................................................................................................................9Product and services...............................................................................................................9Target Market.......................................................................................................................10Value Added.........................................................................................................................10Specific features...................................................................................................................10Who is involved....................................................................................................................11Windows of opportunity.......................................................................................................11FEASIBILITY RESEARCH.........................................................................................................12The Feasibility Plan..............................................................................................................12Primary and Secondary data needs.......................................................................................12Research Methodologies......................................................................................................135 Key areas of feasibility research........................................................................................16Ambition Vs Ability.............................................................................................................31The Business Model.......................................................................................................................32The core strategy..................................................................................................................32Business Canvas Model........................................................................................................32

THE BUSINESS PLAN................................................................................................................38Potential risk for BioCatcher................................................................................................41Critical Factor for Success....................................................................................................42Visibility of the plan.............................................................................................................45Visibility of budget and investment.....................................................................................47REFERENCES..............................................................................................................................48

TOPIC: Business plan about herbal beauty products offering BUSINESS DEVELOPMENT REPORT IntroductionPresent business proposal is regarding a new organisation named as “BioCatcher” whichwill offer herbal beauty products at market place. The company which was chosen for thisresearch is Malta who wants to establish its production unit and office. Herbal Beauty productsare referred as the cosmetics which are formulated with the usage of natural ingredient. Naturalingredients are free from synthetic chemicals and are helpful in curing skin from different skinallergies. These products also helps user in improving quality of their skin and provides thembest result in reducing acne, wrinkles and sun effects (Cairncross, 2014). Natural products arenot only enhancing beauty of user but it also makes skin healthier and antioxidants. RationaleThe main rationale behind choosing this business idea is that with the increase inexposure to new market business opportunity is also increasing. Due to this demand of herbalbeauty products across the world is rising. Along with this, another reason which have influencedfor this business concept of starting cosmetic herbal company in Malta is the inconvenience ofcustomer while finding out suitable natural beauty products for themselves. As per evaluation ofpast records based on cosmetic industry and experience of users it has been identified thatnormal cosmetic users are suffering from many skin related issues which have generated scopefor herbal beauty products at market place (Kolk, 2016). As a result, increasing side effects ofartificial beauty products has provided an opportunity to BioCatcher for starting its business withherbal beauty products in Malta. Being the capital city of Malta, the location offers a wide rangeof infrastructure facilities, transportation and raw materials that are essential for making thenatural cosmetic products of BioCatcher. This makes Valletta a strategic location for newbusinesses that are striving to gain a high stake in market and build their brand image so as toattract a large number of people towards the high quality herbal products manufactured bycompany.

Vision“To offer herbal beauty products to society and become influential natural skin carecompany across the globe”Mission“To become a leader in herbal cosmetic industry and make quality products accessible tocustomers by using high end technology”Design and structure of reportPresent business proposal of BioCatcher is mainly divided into five subsections which aredefined as below with separate brief description of each part.IntroductionThe first and foremost part of this business proposal is basic introductory section whichincludes brief description about herbal beauty products. It will also include information aboutrationale of the business proposal, mission, vision of the organisation, future assumptions andtimescale for overall proposal.Description about business conceptIn the next section appropriate description about main concept of business that isoffering herbal beauty products in Malta is going to be discussed. It will also includesinformation about products and services, target market, value added factors, special features andpeople who are going to be involved in implementing overall business plan. Feasibility researchThis section will describe about information related to research methodology by thecompany feasibility of the current business proposal can be checked. It will also definefeasibility of whole project in terms of product, industry, organisation, market and financiallythat whether this concept will be profitable for BioCatcher or not.The Business Model This section will now provide information regarding business models and descriptionabout its each and every element, theoretical frameworks, various strategies which will going tobe used by BioCatcher for gaining competitive advantages within the same industry. It will alsoinclude information of business canvas Model and how it fits in similar scenario. The Business Plan

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