Business Planning Assessment Template
Added on 2023-01-04
21 Pages4228 Words65 Views
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Page 1 of 21Business Planning Assessment Template
YOUR BUSINESS CONCEPT
1.BUSINESS OVERVIEW
What is your business (or value) proposition and why do you think it’s a good idea?
The business idea is to launch a mobile book store which will focus on the collection and supply of books by reaching
people in their homes and comfort rather than simply opening a bookstore. The business will be named as “Books on
Wheels” and this will be used to address the cause of not just an innovative business idea but to meet the criteria of
social entrepreneurship as well. The key value proposition is that the idea is to foster the reading habits amongst the kids
and youngsters which is easily becoming quintessential trait rather than a hobby. Additionally, the poor kids who are not
able to afford the expensive books for their education will also be able to gain access to such knowledge by our proposed
business venture.
I think it is an excellent idea because it not only helps in earning profits and establishing a business but it also helps in
addressing a social cause through such venture.
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]
YOUR BUSINESS CONCEPT
1.BUSINESS OVERVIEW
What is your business (or value) proposition and why do you think it’s a good idea?
The business idea is to launch a mobile book store which will focus on the collection and supply of books by reaching
people in their homes and comfort rather than simply opening a bookstore. The business will be named as “Books on
Wheels” and this will be used to address the cause of not just an innovative business idea but to meet the criteria of
social entrepreneurship as well. The key value proposition is that the idea is to foster the reading habits amongst the kids
and youngsters which is easily becoming quintessential trait rather than a hobby. Additionally, the poor kids who are not
able to afford the expensive books for their education will also be able to gain access to such knowledge by our proposed
business venture.
I think it is an excellent idea because it not only helps in earning profits and establishing a business but it also helps in
addressing a social cause through such venture.
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]
Page 2 of 21Business Planning Assessment Template
How have you confirmed there is a need for your business?
The industry will basically be the book readers industry and although there are not many changing trends in this industry
but yet still the customer base in this industry is huge and widespread. At present, it is estimated that the publishing and
reading industry is ranging for as far as £11.7 billion as estimated in the year 2017. The key players are the writers with
good content, the publishers, the sellers and ultimately the readers. Here, the availability of book is less of a concern than
the price that is being charged for it. I have tried to test the potential success of my business idea by selecting random
strangers and getting their view point that whether they would like my idea of a mobile van. This not only helped me in
gaining an overall positive response but it also helped me in modifying my idea and objective where earlier I was only
planning on sale of books, now I will also supply the necessary books at lower rates to poorer and needy students
(Massaro and et.al., 2020).
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]
How have you confirmed there is a need for your business?
The industry will basically be the book readers industry and although there are not many changing trends in this industry
but yet still the customer base in this industry is huge and widespread. At present, it is estimated that the publishing and
reading industry is ranging for as far as £11.7 billion as estimated in the year 2017. The key players are the writers with
good content, the publishers, the sellers and ultimately the readers. Here, the availability of book is less of a concern than
the price that is being charged for it. I have tried to test the potential success of my business idea by selecting random
strangers and getting their view point that whether they would like my idea of a mobile van. This not only helped me in
gaining an overall positive response but it also helped me in modifying my idea and objective where earlier I was only
planning on sale of books, now I will also supply the necessary books at lower rates to poorer and needy students
(Massaro and et.al., 2020).
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]
Page 3 of 21Business Planning Assessment Template
1. WHO ARE YOUR CUSTOMERS
AND HOW WILL YOU REACH
THEM?
Customer
Profile
Why are you targeting them? How are you going to get their
attention?
How are you
going to convince
them to buy from
you?
What specific
activities does this
mean you need to
do?
What
approximate
level of spend
will you need on
each activity?
1. Youngsters
and teenagers
This group is targeted because
the tastes of this crowd can be
predicted and understood. All
the fan fictions, the trends etc.
that they follow will help in
understanding what are they
thinking about the books and
hence stock them and make
these available to them
proactively will increase the
In order to attract them, the
business will prominently focus
on the creating an excellent and
noteworthy presence on the social
media accounts and digital
platforms giving regular updates
regarding the different stocks and
genres being stored (Gatignon
and et.al., 2017). This will make
it easy for the targeted group to
Offers, discounts,
give away, loyalty
points etc. The
prices would be
distributed in such
a manner that they
are able to get best
deals in books.
Hosting online live
Q and A sessions
with the interested
public.
$80 - 100
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]
MARKETING
1. WHO ARE YOUR CUSTOMERS
AND HOW WILL YOU REACH
THEM?
Customer
Profile
Why are you targeting them? How are you going to get their
attention?
How are you
going to convince
them to buy from
you?
What specific
activities does this
mean you need to
do?
What
approximate
level of spend
will you need on
each activity?
1. Youngsters
and teenagers
This group is targeted because
the tastes of this crowd can be
predicted and understood. All
the fan fictions, the trends etc.
that they follow will help in
understanding what are they
thinking about the books and
hence stock them and make
these available to them
proactively will increase the
In order to attract them, the
business will prominently focus
on the creating an excellent and
noteworthy presence on the social
media accounts and digital
platforms giving regular updates
regarding the different stocks and
genres being stored (Gatignon
and et.al., 2017). This will make
it easy for the targeted group to
Offers, discounts,
give away, loyalty
points etc. The
prices would be
distributed in such
a manner that they
are able to get best
deals in books.
Hosting online live
Q and A sessions
with the interested
public.
$80 - 100
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]
MARKETING
Page 4 of 21Business Planning Assessment Template
sales of company. be in track with the company and
its ideas.
2. Students Students are always in search of
one book or another and this
indicates that the need for them
can easily be met and targeted
thus helping in gaining the
necessary momentum and
results regarding the sales
aspect.
In order to attract them, along
with social media, another tools
like e- mails, messages etc. will
be used so that they can be made
aware regarding the discounts that
the company is giving, the
relevant study material to be
brought etc.
Discounts, offers,
seasonal sales and
offs.
Engaging in
conversations with
them and also
engaging in field
and market
research mainly.
$50
3. Professors
and teachers
The professors and teacher will
act as major donors in the
company who can also be
referred to understand what
kind of books are necessary to
stock and at what time i.e. when
exam season is near, then what
books are to be stored as
compared to the time when the
term is relaxed (Yang and
Gabrielsson, 2017). This can
also help immensely in
targeting the population in a
structured manner.
These will be targeted by
distributing pamphlets, exercising
door to door marketing and
communication etc. This will
make them aware and understand
the business idea thus making
them cooperate towards the
success of business. They can
also be promised rewards and
benefits such as win $ 100 after
donation of every 5 books etc.
Cash prizes and
rewards. Also an
act of charity and
appreciation for it
is always favoured
amongst academic
staff.
Try to integrate as
many of them as
possible into the
network making it
more strong
$50 - 150
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]
sales of company. be in track with the company and
its ideas.
2. Students Students are always in search of
one book or another and this
indicates that the need for them
can easily be met and targeted
thus helping in gaining the
necessary momentum and
results regarding the sales
aspect.
In order to attract them, along
with social media, another tools
like e- mails, messages etc. will
be used so that they can be made
aware regarding the discounts that
the company is giving, the
relevant study material to be
brought etc.
Discounts, offers,
seasonal sales and
offs.
Engaging in
conversations with
them and also
engaging in field
and market
research mainly.
$50
3. Professors
and teachers
The professors and teacher will
act as major donors in the
company who can also be
referred to understand what
kind of books are necessary to
stock and at what time i.e. when
exam season is near, then what
books are to be stored as
compared to the time when the
term is relaxed (Yang and
Gabrielsson, 2017). This can
also help immensely in
targeting the population in a
structured manner.
These will be targeted by
distributing pamphlets, exercising
door to door marketing and
communication etc. This will
make them aware and understand
the business idea thus making
them cooperate towards the
success of business. They can
also be promised rewards and
benefits such as win $ 100 after
donation of every 5 books etc.
Cash prizes and
rewards. Also an
act of charity and
appreciation for it
is always favoured
amongst academic
staff.
Try to integrate as
many of them as
possible into the
network making it
more strong
$50 - 150
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]
Page 6 of 21Business Planning Assessment Template
2. WHO ARE YOUR COMPETITORS AND HOW WILL YOU BEAT THEM?
Competitor profile What will you be
competing with
them on?
Why do customers
buy from them?
Why would customers
switch to you?
What specific
activities will you
need to do?
What approximate
level of spend will you
need on each activity?
1. Amazon/E- Bay:
These .are online sellers
of the books who are
most prominent threat to
company
Price, after sales
services
Because of better
discounts and comfort
level.
Because of better price
and experience
altogether and ability to
touch and smell books.
Working on optimising
digital campaigns
$50
2. Barnes and Nobles:
These refer to the
famous bookstores
which again stand the
chance of grabbing
customer’s attention.
Experience,
feasibility and
accessibility
To enjoy the chance of
seeing new books
To live and gain a
better and improved
experience
Better offers and
ambience development
$35
3. Local Vendors:
These are the local
sellers and other similar
persons who can capture
the market.
Quality, product
features etc/
To suit the customer’s
comfort and time
availability.
To contribute towards
the social cause and
foster new business
idea.
Develop better
practices and being
more in prominent
positions.
$40
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]
2. WHO ARE YOUR COMPETITORS AND HOW WILL YOU BEAT THEM?
Competitor profile What will you be
competing with
them on?
Why do customers
buy from them?
Why would customers
switch to you?
What specific
activities will you
need to do?
What approximate
level of spend will you
need on each activity?
1. Amazon/E- Bay:
These .are online sellers
of the books who are
most prominent threat to
company
Price, after sales
services
Because of better
discounts and comfort
level.
Because of better price
and experience
altogether and ability to
touch and smell books.
Working on optimising
digital campaigns
$50
2. Barnes and Nobles:
These refer to the
famous bookstores
which again stand the
chance of grabbing
customer’s attention.
Experience,
feasibility and
accessibility
To enjoy the chance of
seeing new books
To live and gain a
better and improved
experience
Better offers and
ambience development
$35
3. Local Vendors:
These are the local
sellers and other similar
persons who can capture
the market.
Quality, product
features etc/
To suit the customer’s
comfort and time
availability.
To contribute towards
the social cause and
foster new business
idea.
Develop better
practices and being
more in prominent
positions.
$40
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]
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