Entrepreneurship Development

This document provides an introduction to the concept of entrepreneurship development and discusses various aspects such as business objectives, customer value proposition canvas, lean business model canvas, customer engagement plan, and financial planning. It also includes a customer profile and highlights the key resources, partners, and activities involved in the business. The document concludes with a customer engagement plan and references.

Entrepreneurship
Development

Table of Contents
1. Introduction..................................................................................................................................1
Business objectives.....................................................................................................................1
2. Customer Value Proposition Canvas...........................................................................................2
Customer Profile.........................................................................................................................2
3. “Lean” Business Model Canvas...................................................................................................4
4. Customer Engagement Plan (CMO (Marketing))........................................................................6
5. Financial and financial plan.........................................................................................................7
Cost structure for parking of one car parking facility area along with the value added services:
.....................................................................................................................................................7
Break even analysis.....................................................................................................................8
Estimated profit and loss statement for first three years:............................................................8
Cash flow analysis:.....................................................................................................................9
Source of finance-.......................................................................................................................9
6. Summary (Conclusion)..............................................................................................................10
References......................................................................................................................................12

1. Introduction
Present venture development proposal is based on the new, unique and innovative idea
i.e. Hydraulic Underground Car Parking, which can be considered as the future of parking lots
which specifically saves spance, time and helps clients to keep their cars in a much more
enhanced security based zone. Over the years, it has been found that number of cars in all over
the world is increasing, which raised a number of concerns in relation to parking slots and so on
(Mitra, 2019). This struggle of public in today’s world raised this idea of delivering them their
own personal space of parking, which consists of a whole new feature i.e. facial recognition
access, where a customer may scan his face, which may lead him to gain the access to his car.
Considering this safest and intelligent solution, there are some of other features that our business
will be offering to the number of customers and some of these are full valeting services like car
wash and so on.
Being the CMO (Marketing), of this business idea there are number of contributions that
I will be giving and all of these contributions are directly linking with the objective our by
business and of my own.
Business objectives
Objective of sales revenues: It is helpful to find out volume of sales as well as
effectiveness of operations. In the above business plan this will be useful for them to find out
estimated sales growth in next three years (Loures and et. al., 2019).
Objective of profit- Profit is a critical aspect of a company that cannot exist even in a
dynamic environment. The key purpose with which a corporate entity is formed is essentially
profit-making. To ensure market sustainability, success and development over time, the income
must be received.
Objective of profit margin- A main financial objective is the gross margin, which is the
income-to-sales ratio. If a business achieves increases in revenue but invests more on promotions
and administration costs, it can reduce the income margin and cash flow. Consequently, income
margin growth powers to increasing or sustain profits while retaining track of costs. Primal
objective of this business is “To reach to the sales amount of £100,000 within two years
through delivering car parking services and to earn up-to £65,000 as profit.”. Including this,
some of other objectives in relation this business are given underneath:
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 To grab the attention of more than 10,000 people who lives nearby the parking area with
the help of social media and other marketing campaign.
 To develop an effective marketing plan in order to boost the sale of the new business
idea, which has been developed.
2. Customer Value Proposition Canvas
Customer Profile
Based on the prepared customer profile considering different aspects like gainsm pains,
and customer jobs of the value proposition canvas model are presented underneath:
Gains:
 Reliable parking space: Basically, every single individual in present in United Kingdom
is dealing with parking related difficulties. Those who are living in crowdy areas, are
specifically going through different range of issues, where offering them with a much
reliable parking space, would directly grab the attention of customers who are going
through this problem (Morozova, Popkova and Litvinova, 2019).
 Easy Access: With the help of face recognition machine, our customers can effectively
see that we have kept safety and security as priority. It can be said that, considering this
machine, security related measures could effectively be improvised.
 Time saving: Our business is time saving for both us and for our clients as we have
utilised machines, that works much faster than the manpower like some of the existing
parking areas.
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Gains:
Reliable Parking space
Easy Access
Time Saving
Pains:
No parking space
Missing Appointments
Payment concern
Privacy
Customer Jobs:
Park their cars

Pains:
 No parking space: Primal problem that came in front is the parking space among
different crowdy and other areas, if any event takes place. Based on the legal aspect of
external environment, it has been analysed that government of different countries as
made ample number of rules and regulations in relation to parking for different reasons
like traffic and so on. Therefore, any individual cannot park a car wherever he/she feels
like as it is may be possible that they may get a ticket from traffic police, which is
considered to be a penalty that is required to be paid as it is considered to be breaching of
law containment (Cecora, 2019).
 Missing Appointments: Reaching late to the parking slot can be considered as a pain for
our customers as, it is may be possible that the left space for the parking may be grabbed
by other clients.
 Payment and privacy concern: This considered as one of the major that mainly takes
place, and we have decided to reduce this pain of the targeted customers through offering
them online payment facility. We have also utilised privacy related features for our new
service and i.e. face recognition system, where the parking lot will work accordingly and
no other individuals could park the car.
Customer jobs:
 Parking the cars: Our service, that we are offering is specifically designed to enhance the
customer satisfaction level, which is the primal aim of every single company and we have
also kept our main focus delivering the extra and value added services. This will reduce
the time of our customers in relation to cleaning and so on and these all will be done in
one place i.e. parking slot in Hydraulic Underground Car Parking at correct time (Chan
and et. al., 2019).
Therefore, these are some of the values that we have considered while planning our
business and fulfilment of all the aspects would lead this business plan to get the success in the
desired time frame of two years. It may also help us in enhancing the customer base in much
effective and in efficient manner.
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3. “Lean” Business Model Canvas
This is being considered as one of the crucial model, which would help in looking among
different aspects and it is elaborated underneath:
KEY
PARTNERS
 Investors
 Advertisin
g Partner
 Companie
s
 Builders,
IT
developers
 Employee
s
 Borough
council
 Regulatin
g
authorities
KEY
ACTIVITIES
 Car
Parking
 Valeting
 Electrical
vehicle
 Charging
 LED
panel
advertisin
g
VALUE
PROPOSITION
 Offering a
secure and
exclusive
parking
place and
a range of
additional
services to
members.
 Renting
advertisin
g space
Modular
level
system
which
allows
additional
levels to
be added.
CUSTOMER
RELATIONSHI
PS
 In app
24/hour
support
help line
 Feedback
rating
system
CUSTOMER
SEGMENTS
 High
Street
 Businesse
s
 Corporate
Managers
 Upper
class
 Wealthy
people
KEY
RESOURCES
 IT app
developers
 Financial
Building
space
 Technolog
y
CHANNELS
 Social
Media
 B2B
Promotion
 Printed
Media
 Corporate
Events
All the different aspects that are covered within the Business Model Canvas are described
underneath:
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KEY PARTNERS: Investors, Advertising Partner, Companies, Builders, IT developers,
Employees, Borough council, Regulating authorities and so on are said to be the key partners for
the developed business idea of Hydraulic Underground Car Parking with face detection access
system. At the time of taking any sort of decisions, all these individuals will be considered as
crucial ones where suggestions will be taken from them. Also, any sort of alteration within the
plan will be done on the basis of majority of all these individuals that are connected with the idea
of Hydraulic Underground Car Parking with face detection access system (Horst and Murschetz,
2019).
KEY ACTIVITIES: Car Parking, Valeting, Electrical vehicle, Charging, LED panel
advertising are considered as some of the crucial activities that will be performed for gathering
the attention of customers who are looking for more than one thing to be perfomred in a place.
Since, the electrical cars are owned by many individuals, therefore we have offered them
chargning point, valeting and LED panel advertising, which can be taken as a value added
service that may enhance the customer satisfaction level (Kraus and et. al., 2019).
KEY RESOURCES: IT app developers, Financial, Building space and Technology are
said to be the vital resources that are being considered within our plan of this whole new
Hydraulic Underground Car Parking. Basically, IT App developers will help in building an
effective application, where customers will be having all the information in relation to their cars
like if they have got fully charged or not. Also, finance is also said to be one of the crucial
aspect, which will be needed because, the system of face recognition along with the Hydraulic
Underground Car Parking is going to be built with high technology, which needs proper funding.
VALUE PROPOSITION: Value proposition is a promise of value to be delivered,
communicated, and acknowledged. It is also a belief from the customer about how value will be
delivered, experienced and acquired. A value proposition can apply to an entire organization, or
parts thereof, or customer accounts, or products or services. In present context, where the
business idea of Hydraulic Underground Car Parking is going to considered a range of offerings
like security to the vehicles and exclusive parking place and a range of additional services to
members. Along with this, renting advertising space Modular level system which allows
additional levels to be added (Sergi and Scanlon, 2019).
CUSTOMER RELATIONSHIPS: In app 24/hour support help line and feedback rating
system will be delivered to the customers who are using our services of whole new business i.e.
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Hydraulic Underground Car Parking with face detection access system. Basically, this will assist
us in resolving our customer’s queries. Also, it is considered to be one of the crucial feature,
which will help our business to get modified based on the requirements of customers and so on.
CHANNELS: Social Media, B2B Promotion, Printed Media, Corporate Events are some
of the marketing channels, which will be utilised to enhance our performance level along with
brand recognition among customers from all over the world. Also, it is said that considering this
feature of face detection and recognition access system will be on main frame of the marketing
campaign, which will directly grab the attention of rich people who are looking forward park
their cars in much more safer and secured parking area (Sathish and Rajamohan, 2019).
CUSTOMER SEGMENTS: Customer segmentation is the process of dividing
customers into groups based on common characteristics so companies can market to each group
effectively and appropriately (Sá, Casais and Silva, 2019). In business-to-business marketing, a
company might segment customers according to a wide range of factors, including: Industry.
High Street, Businesses, Corporate Managers and Upper class or the individuals who are
carrying wealthy status and living a luxurios life is said to be the customer segment, that is being
taken into consideration by this whole new business idea of Hydraulic Underground Car Parking
with face detection access system. As these are the individuals who majorly has a number of cars
but limited space of parking them. Therefore, our business of Hydraulic Underground Car
Parking with face detection access system will help them in getting the right space for parking
and will support them to enhance security features for their cars.
4. Customer Engagement Plan (CMO (Marketing))
This is considered to be one of the crucial section for every single business organisation
because without promotion, nothing could be done in a righttful manner as customer engagement
will not take place effectively (Sutter, Bruton and Chen, 2019). Being the Chief Marketing
Officer of this new idea of Hydraulic Underground Car Parking, it will be my primal
responsibility to engage customers through different marketing strategies considering a specific
plan, which consists of different stages and these are mentioned underneath:
Customer Journey Map: Basically, the business will be targeting the rich people, who
lives in crowdy places or the ones who are buys a number of vehicles and do not have proper
space for parking their cars. This will be done with the help of lighting board along with
marketing campaign that will be published on our page on different social media sites like
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Facebook, Instagram and so on because most of the rich individuals follow social media and this
will also be considered as the cheapest way of promoting the services of Hydraulic Underground
Car Parking with face detection access system.
Points of attraction: Most of the customer engagement platforms will be covered by the
marketing team, where social media will be considered as one of the crucial channel which will
aid us in communicatiing directly with the customers and interested people who are looking
forward to take our services (Mehmood and et. al., 2019).
Behaviour in real time of the customers: Another crucial stage, which made to enhance
customer engagement of our country, where we will be listening to what exactly customers are
looking for, on the basis of positive or negative feedbacks, all the work will be done.
Offering personalised services: While developing the marketing campaign for different
social media channels, we will be putting more efforts on showing the uniqueness of company’s
services like our whole new parking service feature Face recognition and other value added
services.
Observation of customer’s behaviour: This is the stage, where reviews delivered by
different people will be considered and we will also perform an analysis over prospects like who
has accepted the offer and who did not respond to it. This is where, we will be measuring how
many activities to determine the success of customer engagement plan, that we have taken into
consideration.
Feedbacks from the customers: With the help of this, reality will come in front of all the
customers and viewers point of view over the whole new business idea of Hydraulic
Underground Car Parking with face detection access system.
5. Financial and financial plan
Cost structure for parking of one car parking facility area along with the value added services:
Particulars Amount
(Pounds)
Amount
(Pounds)
Cost of space 1
Material cost:
Hydraulic pressure cost
Cost of metal
1
1
3
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Other material cost
Variable cost:
Labor cost
Staff wages
Direct material cost
1
3
1
5
Maintenance charge 2
Legal charges 1
Fixed cost 5
Total cost for parking of one car 17
Revenue stream: A source of sales is a corporation or an institution's source of profits.
For businesses there is typically a sales source composed of ongoing profits, transactional profit,
project profit or resources. The word income stream in government also applies to various tax
forms. In the context of above business plan the revenue stream can be charges from each
parking of cars (Maldonado-Briegas and Sánchez-Hernández, 2019). Herein, below estimated
revenue from car parking is mentioned below in such manner:
Estimated cost 17
Desired profit 3
Price for parking of one car 20
Break even analysis
Breakeven point = Fixed cost / contribution per unit
Fixed cost= 5
Contribution per unit= Selling price-variable cost per unit
= 20-5
= 15
Hence,
BEP= 5/15
= 0.33
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Estimated profit and loss statement for first three years:
Particulars Year 1 Year 2 Year 3
Sales revenue (Car parking charges) 10000 16000 20000
Less: expenses
Variable cost
Fixed cost
2500
2500
4000
4000
5000
5000
Estimated profit 5000 8000 10000
Profit margin (Profit/sales*100) 50% 50% 50%
Cash flow analysis:
Cash flow Amount
(Pounds)
Amount
(Pounds)
Amount
(Pounds)
Particular Year 1 Year 2 Year 3
Car parking
sales(revenues
)
115000 125000 150000
Set up Cost
Direct cost
Material 5000 5755 6070
Stock 6500 7000 7350
Additional
Staffing 3500 4540 3500
Total direct
cost 15000 17295 16920
Fixed cost
Salaries 12000 12000 12000
Rent 7000 7000 7000
Staff wages 4500 4500 4500
Freight 1500 1500 1500
Telephone [phone]
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charges
Promotion
Expenses 2500 2500 2500
Legal 650 650 650
Transport 3500 3500 3500
Interest
on loan 480 480 480
Total 32390 32390 32390
Sub total 47930 49685 49310
Net Profit 77070 75315 100690
Source of finance-
Financing options for companies include equity, interest, debenture, surplus profits, term
loans, working capital loans, loan notes, euro problems, venture financing, etc. Such tools are
available under multiple circumstances. They are categorized on the basis of time, possession,
power, and generation source. Every source of capital should be analyzed before selecting it
(Brush and et. al., 2019).
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Usage of finance- Financing is one of the core facets of organizational administration that
involves an overview of the company's utilization that recruitment. The financial structure of an
organization is the overall combination of investments used to mobilize assets in corporate
financing (Ferreira, Fernandes and Kraus, 2019).
6. Summary (Conclusion)
With the help of above mentiioned report, it is being concluded that the business proposal
that has been developed will effectively reach to the desired goal and will also deliver the best
results in upcoming years. Investing on this proposal would lead the whole team to earn high
profits in near future as it is considered to be one of the innovative and succesful business plan,
which can easily be seen among above financial analysis of next three years from the execution
day of the overall planning. Including this, it is also said that business model canvas and value
proposition model would aid in understanding the business environment, in much effective and
efficient manner. Away with this, it will be required by the business organisation to consider all
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the different sources and finance and manage them accordingly, so that right amount of
modifications could easily be made within the company whenever it is needed. On the other
hand, considering the whole new idea of face recognition sytsem can be considered as future of
the technology among all the aspects of living. Away with this, the whole new idea of parking
system can be considered as the game changer in today’s busy life.
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References
Books and Journals
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Economics. 53(2). pp.393-408.
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Chan, C. H. and et. al., 2019. The role of the social innovation and entrepreneurship
development fund in fostering social entrepreneurship in Hong Kong: A study on public
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Ferreira, J. J., Fernandes, C. I. and Kraus, S., 2019. Entrepreneurship research: mapping
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