Starting a New Business Plan: Report

Enterprise

Table of Contents
Business Concept.............................................................................................................................3
Peer Group Reflection......................................................................................................................4
Concept Improvement Reiteration...................................................................................................8
REFERENCES..............................................................................................................................11
.........................................................................................................................................................1

Business Concept
This report is based on starting a new business plan which is to open a book store to
provide facility to the children for reading stories and which allows them to create drawings
related to the stories they have read. Using the business model canvas, new proposal for opening
the book store is described as follows-
Business Canvas Model
Children's Book Store
Key partners
Merchants who
sells books
related to stories
for children.
Key activities
Story reading for
children's which allow
them to create drawings
based on the story they
have read.
Provide all type of story
books which are funny
as well as knowledgable.
Value
propositions
CUSTOMER
Can easily find
wanted story books
easier.
It creates a learning
platform for
children's and
allows them to be
creative.
SELLER
Can generate
source of income.
Trusted platform to
sell books easier.
Customer
relationships
Directly with the
children's to
attract them with
the new editions
of stories and
take feedback
accordingly.
Customer
segments
Children
who want
to read the
story
books.
Seller who
want to sell
their books
and earn
money.
Key resources
Merchants who want to
sell their books and earn
income.
Channels
Book -store
Cost structure
 Infrastructure set up and running cost.
 Salaries to permanent employees.
Revenue streams
 Advertisement on newspaper.
 Increase stores sales through providing
new and interesting story books.

The above canvas model describes the elements for opening a new venture of book stores
whose target customers are children's to provide them story books and creates drawing on the
basis of reading them. It is the Uniqueness of this book store which makes it different from other
book stores. They can aware the customers especially the children's by advertising in newspaper
through cartoon pictures as well as images which will attract them for visiting the book store. In
order to make the venture unique they can also provide gifts to the children's on the basis of
drawings made as well as competitions can also be held. This book store basically focuses on the
children's to make them creative as well a knowledgable which will help them to attract large
number of customers as well as act as a good source of income (Dijkman and et. al., 2015). The
major cost considerations for this new venture would be infrastructure cost which will have all
facilities to provide good facilities to children as well as they need to hire well knowledgable
staff members who would properly coordinate with the children to attract them for reading new
books. Distribution channels for this book store is directly the store itself where the children's
come and read books. It has no online presence, but with its unique presence in the market it will
help to have a stable business venture for long term period.
Peer Group Reflection
After submission of Business Canvas model my peers group members have provided me
feedback in order to improve my proficiency on the business plan of book store. In this regard, I
have used Gibbs reflection Model to reflect my overall experience which have been gained by
me from the procedure of making a good business plan to feedback received by peer members.
Gibbs reflection model have been described as below:
Gibbs reflection model
It is a systematic cycle which helps individual in reflective their overall phases which
have been experienced by me. This reflective model was given by Graham Gibbs in the year
1988. The professor personally believes that an individual can learn a lot from situations which
they are experiencing regular (Gibbs – Reflective Cycle Model, 2015). Gibbs have also stated
that learning can be done more effectively if an individual met with lots of wrong conduct or
things which does not resulted according to their wish. I have chosen this reflective model to
reflect my overall experience because it has five core stages which will be helpful for me to