Business Idea For Australian Market

RUNNING HEAD: BUSINESS PLAN
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Business Plan

Business Plan
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Executive Summary
This report is based on development of a business idea for Australian market. The business
idea that is discussed in this report is smart suitcase by targeting the elite groups or business
travellers and leisure travellers of Australia. The value proposition that the product give to
customers includes digital lock, digital weight scale, tracker, virtual assistant, and security
and protection. The aim is to make travelling a hassle free experience for customers. Further,
the report cover all the expenses related to production, marketing, inventory management,
and supply chain and customer relationship. At last, the brief idea about projected sales and
profit and loss for six months is included in order to know the breakeven point and the time
when the product prove to be profitable for the company.

Business Plan
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Table of Contents
Introduction................................................................................................................................3
Business model canvas...............................................................................................................3
Planning......................................................................................................................................6
Conclusion..................................................................................................................................9
References................................................................................................................................10
Appendix..................................................................................................................................11

Business Plan
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Introduction
The business plan is considered as the document in which description of business is given
that includes nature of business, marketing and sales strategy, value proposition, target
customer, and resources required (Burns and Dewhurst, 2016). The business plan that is
described here is for Australian market. This report consists of a business idea or an
innovative product that is going to be launch in Australia in near future. The business idea is
based on technological advancement; here a genius suitcase will be launched targeting the
elite and business class group in Australia. This idea is developed by identifying problems of
frequent travellers. The product is a suitcase that has features like trackers, connection with
mobile devices, virtual assistant, digital weight scale, and digital lock to protect stuff of
traveller further the option of removable batteries are also considered in order to give
convenience experience to customers.
This business idea helps in to solve the issues related to excessive weight of luggage as
digital weight scale give indication of overweight luggage, issue of lost luggage as tracker
helps to identify location of luggage and its connection with devices help to lock luggage
when it is in hand of others or here digital lock plays an important role (Li,2017). Hence, it is
estimated that with help of this business ides issues of most of the travellers can be solved. In
the below sections, the complete business plan is described including target market, cost to
be incurred, profit margins and marketing strategies to be followed.
Business model canvas
In Australia there are few smart luggage business operators, the specifications that the
company will offer to customers are attractive and can help the company to attract business
and elite group. The smart luggage market expected to grow at the global level in near future
that benefit the company if this opportunity can be utilized and business idea can be launched
in Australia (Van Merle, 2018).
Customer segments: The customer segment for smart luggage will be leisure traveller and
business traveller age from 20-45 years, both females and males of elite and business class
group can be married or college graduates or full time employed and can be frequent