Business Plan for Prin Ex 6D Printer

Read the business plan for Prin Ex 6D Printer, including executive summary, background, key personnel, operations, marketing, and financial plan. Get insights into the development of this innovative product.

Entrepreneurship &
Entrepreneurial
Management

TOC
Table of Contents
INTRODUCTION...........................................................................................................................1
Business Plan ..................................................................................................................................1
Executive summary................................................................................................................1
Background.............................................................................................................................1
Key Personnel.........................................................................................................................2
Key managers ........................................................................................................................5
Operations...............................................................................................................................8
Marketing ..............................................................................................................................9
Financial plan.......................................................................................................................12
Conclusion ....................................................................................................................................13

INTRODUCTION
The business plan is said to be a structures and systematic course of action that determines all the
major steps and stages that are needed to be accomplished within set boundaries of business
enterprises. The business plan is an effective framework that guides a company for executing
new or existing tasks. The need of business plan arises time to time in several conditions that
could be introducing new offerings in the market, product or brand development, expanding the
business in to new parameters of operations. The respective project is formed on the basis of
development of an existing 3D printer. That would be introduced with certain ne3w technologies
under the name of Prin ex 6D printer. The plan of business will be designed on the dimensions
of said company and its new product launch. The major element on which this project will be
designed are the executive summary about product and company, its background, key personals,
operations, marketing and financial plan.
Business Plan
The business plan will be prepared and designed significantly for the development of Prin
Ex printer. This product will provide a distinctive service to the customers as it has all the new
features that would fulfill the market gap.
Executive summary
The company that is launching a revolutionary product in the electronic and digital
markets is well renowned organization of United Kingdoms and it is wide popular with the name
of Prin Sole. The company here provides a brief summary about its overall business plan. This
plan will check and evaluate the background of the organization to identify the most appropriate
measures of performance. This will be analyzed through the mission, vision and objectives of the
organization. The another factors that will involve the work force of respective company will be
key personnel and key mangers they will directly impact on the success or failure of the product.
Lastly but not the least all the important element of marketing and financing will be discussed in
the project
Background
The company has a quite distinctive approach inn the respective market share that
enables it to give tough response to its rival firms. The firm is on a way to fill the technological
gap in the industry of print and digital media. This will all become possible with its futuristic

product named as the Prin Ex printers. This printer will provide an extensive service of printing
the elements in a 6 dimensional view. The mission , vision and objectives of the firm will help in
to determining the successive rate of this product in to the national as well as international
markets. As there are higher chances of global success of company through this product.
Therefore all theses elements of comapny are elaborated as follows :-
Mission
Prin Sole company wants to introduce such an outstanding technology in priter segment.
By introducing the 6 dimensional printing interface.
Vision
The long term vision of the company is to become the lading company in the sector of
digital and electronic appliances. It does also want to employ its busies in the untapped sections
of market and expanding its business on to a global level . The vision of the company also
comprises of extensive rate of return on the early investment. Along with all these vision motives
the organisation seeks to build its significant position in the consumer shares of educational and
industrial backgrounds.
Objectives (SMART)
The basic objectives of the company are discussed in the above mentioned paragraphs. In
addition to that this segment will contain major elements of the goals and objective of Prin Sole
that will be discussed below. Thus the SMART element is combined of specific, measurable,
Attainable, Relevant, and Time-Bound forces. That enables the organization to specifically
measure its future as well as current outcomes with the previously determined smart objective.
The following objective of Prin Sole . is to enhance its sale by 50% in the upcoming sale
season. This sale will also include the transaction of Prin Ex 6 D printers. The other smart
objective
Key Personnel
The management team within a company is wholly responsible to manage the
overall workings and operations of respective teams. The management team is the foundation
structure to all the other subsidiaries in a company . Different different fields of operations in the
organisation is accountable to do their assigned tasks and that is the duty of the management
team to get that task done on specifically given time. The management team of Prin Sole helps in
building up of the effective and efficient frame work of operations. The management team in the

company is organised in most formal and adequate manner. The team is classified in small
groups of key individual. Each group has a specific subject under which it performs all the
activities and tasks. Thus in the marketing department of Prin sole the management team
member will be there to assist the marketing employees to get their tasks done effectively, same
as in the production, human resources , finance etc. the management groups within the company
does also helps in to resolve a problem or error that arises at the time of executing any task or
operation. The individuals in each group has a respective task to do that demands for full
potential of the person. The basic role of each team member within the management team of Prin
sole is associated with their specialisation. These roles are determined by the head of department,
superior management or the team leader. The role of individuals are as follows :-
 They have to be present on the time of their respective process. The executive is totally
accountable for the success or failure of their job. The roles are played in a way to cover
all the task at the specific time of work.
 The company expects a effectively managed decorum of the organisations internally as
well as eternally.
(Source: Self Generated)
Illustration 1: Organisational Chart of Prin Sole

The total need of human work force will be less as the company is new and its upcoming
product will not face any critical conditions in the market as it is already coming with its very
own USP. The arrangement of all the key personnels and management team will be done through
the set criteria of employing the people in Prin Sole . this will be as follows :-
Designation Role Unit No.
Top manager To monitor and control all the teams of management and
pass necessary orders for the operations and tasks within
company.
1
Head of department The HODs will be associated with their respective
departments comprising of sales, production and marketing .
They have the responsibility to apply and the orders and
regulation of top management in their department as well as
to monitor them correctly.
3
Manager The mangers are the real implementer of work as they will
direct how to work and determine when to accomplish the
respective tasks in all the department do organisation.
3
Senior executive They will perform the assigned task and significantly have a
charge to direct the low level executive.
3
Executive The executives have the responsibility to practice their
assigned activates on given period of time with proper
quality.
3
Sales person The sales executive have the role to interact with customers
physically as well as on other on line communication
channel to sale the product to end consumer and other
retailers.
1
Technician Here the roles and responsibility of a technician is clear as
they have to do the repairing and pre sale works on the
printer to ensure the well effective delivery of final product
to its customers.
1

Key managers
Duties and Responsibilities: There are certain duties and responsibilities which are required to
be followed by each of key manager and they are:
Sales Manager:
 One of the most important duty of a Sales Manager is to make plan and do research in
market.
 Proper policies related to sales are required to be formed and market research is going to
create most important role for it.
 Layout and location of the office or closure of any branch office is to be advised by board
of directors.
 Planning related to product has to be suggested by him and also improvement required in
product design.
 Advertising and sales promotion has to be arranged by him.
Production Manager:
1. Supervising production team for managing and executing projects in smoother manner.
2. Coordination among customers in order to increase plan and timelines for it.
3. Working with team making plan and scheduling is done for performing production
activities.
4. Assigning of work to team member is done by this manager.
5. Suggestion is given for enhancing quality and capacity of production.
6. Resolution of issues related to production is done by manager.
Marketing Manager:
1. Creations of marketing and sales strategies.
2. Providing direction and guidance in process of development.
3. Collaborating with customers, internal staff and vendors over product development.
4. Understanding of customers needs and marketing trends.
5. Developing of logistic for variability at commercial level of product.
6. Maintaining data base for value of concepts and trends in market.
Key Managers:Career Highlights:

These are that form which gives an ideas about how progress takes place within an organisation.
Also about promotion done at various level and how an employee becomes manager. Different
posts are there for different manager and are as follows.
Head of sales: A person who wants to make career in this has to become sales persons and then
has to become Executive1. After this comes senior executive and the the final post is of manager.
All these post gives experience and finally makes head of sales department.
Head of production: In this a person has to become technition and has to do production. Then
comes executive and after this senior executive who analysis work done in a production. Then
comes manager which helps in arranging of resources for smooth running of production. After
this head of production department is made.
Head of Marketing: In this there is executive1. Then comes senior executive and after this
manager. Finally head of marketing is made.
Significance of past accomplishments
Head of sales: Sales of Prin Soles who is selling 6G printer. Its sales has been effected in
past because of reduction in quality. This is later on improved by improving strategies of sales
and increase in sales is seen due to this.
Head of production: Production was reducing as scarcity of raw materials lead to this
situation. After doing outsourcing this scarcity is recovered and production increased because of
this.
Weaknesses in management of Prin Soles has leads towards reduction of in its production
and sales is also not stable. All this is happening because of lack of innovation that is stopping
them from developing new ways of production which is directly impacting sales. This can be
over come by giving training to managers about new techniques.
Compensation & Ownership
Compensation is the monetary and non monetary benefits received by an
employee for performing work within an organisation. Within the confines of an organisation,
compensation is one thing which provides internal satisfaction to employees and motivates them
to work in an enhanced manner in future course of time. Their main aim is to deliver an effective
performance and get an increment in salary.

In relation to Prin Sole, it has been identified that the entity consists of 15
employees who need to be provided with compensation in a timely manner to retain them for a
long period of time in future context.
Designation Description of compensation benefits
Top manager/ Owner Being the main person holding the authority to take decisions and
provide guidance to employees, the top manager or the owner of Prin
Sole will be the one who will receive all the profits earned by the
organization. Further, the surplus left after providing salaries to all
will also be enjoyed by him.
Head of department Being the head of functions such as sales, marketing and production,
these personnel would be provided with salary. In this regard, it has
been identified that the 3 HODs will be provided with incentives only
in the case their team exceed the target given to them by the top
management of Prin Sole.
Manager As he is the one who will be managing all the activities and ensuring
that the employees work as per the organisational requirements, he
would be offered with the highest salary among the employees.
Further, he will be entitled to incentives in case of performing over
and above the targets given by the owner of Prin Sole.
Senior executive As they are the ones who will supervise the working of individuals
and motivate them on a timely manner, thus their role would be quite
crucial for the respective venture. In this regard, the senior executives
would be offered with the second highest salary after the manager.
Executive Executive would be responsible for ensuring the quality of printers
and thus they will be given a decent salary through which they can
sustain their livelihood in an effective manner.
Sales person He is the individual who would be putting the efforts to interact with
customers and pitch them for making the purchase. So the sales
person would be given salary, quarterly incentives and 2.5% of the

sales done by him in a month.
Technician The repair and maintenance of printer would be done by technician so
he would be offered a decent compensation package consisting of just
the salary.
The owner of Prin Sole do not intend to share the gains with any other individual and this
is why they have selected sole proprietorship as the ownership structure for the upcoming printer
manufacturing venture. So, being a Sole Proprietorship firm, Prin Sole would not have any board
of directors. The investment would be solely done by the owner or the sole proprietor who would
enjoy the profits and bear the losses as well.
Operations
Entrepreneurship is defined as the way that is used by management to complete all work
as per innovation techniques. This defines it is essential for company to implement design new
concepts and strategy which leads business to complete all work in effective manner. Prin sole .
Is new in market so it is mandatory for company to manage operations of organisation in
effective manner. This also defines that with proper innovation techniques it is easy for
management to complete all work in proper manner.
Operations are considered as most effective tool that is leading business management to earn
more profits from market. In context of Prin sole management operates its business in digital
industry. In present scenario, it is mandatory for organisation to complete all projects as per
operations. So to check and monitor regular quality of products it is essential to record all
transactions of company. Therefore, printer perform an essential role in company for collecting
evidence of organisation.
The location decided to launch company products is in central London, because the head-
office of multi-national organisation are performing their work from mid place of UK. In the
context of capacity Prin Sole formulate printer that print papers at a broader level within
minimum time period. Along with this due to their high flexibility it is easy for organisation to
connect printer with all devices to perform company work as per management its strategies. This
is also essential for company to manage all task and projects as per company work. It is also used
by management to control cost of organisation. Further, the major concern for company is to

complete organisational work as per management to engage all employees that leads to
organisation for achieving top position in market. So more than 200 individuals are engage in
company work due to manage operations. Further, all individuals are engage in performance of
organisation to complete work in appropriate manner.
Printer is undoubtedly most important equipment for organisation that never end the
printing business. This printer acquire all sign and label to print all signs as per vinyl. Along with
this screen is also required to manage size, colour and area for printer. Cards, box, shirts all are
printed with different techniques. In context of Prin sole material which is required is software,
cutting equipment, binding machine and ink that leads company to print effective designs for
company. Along with all products are purchase by company because it is a one time investment
that leads organisation to earn profits for longer period. Along with this by implement of right
cutter it is easy to adhesive graph properly. This results it is easy to print business with practical
approach.
In the last, printer works with motive of performing task in accurate manner due to which
all designed and graphics are demonstrate within proper manner. All task which are performed
by Printer are digitally connected so management require skilled labour and also organise proper
training classes to increase employee capability for performing their work effectively. Along
with this Prin sole also design it as per future perspective to manager task appropriately.
Marketing
Marketing is a term which refers the exchange of goods and services to consumers with
having a proper market research. Marketing includes the advertising, selling and distribution,
packing, labelling, promotion etc.
For Prin Sole plc. company is essential of marketing because it will boost up its product
in the market and promotion as well. As Prin Sole plc is a upcoming start up company where
they will deal with the consumers with product as printers for that first they have do the market
research which is important before entering into any market field.
Market history:
The power of buyers and suppliers of printer is very high, now a days every organization
having their own printers, basically printers are the business oriented product where every small
organization as well as Multinational companies approaches for the best of the branded printers
to their official work.

The product of Prin Sole plc. is "Prin Ex" launch very soon, on the other hand market
having a different types of branded printers such as HCl, HP, Toshiba, EPSON etc. Where these
companies already have targeted their markets as well consumers in fact, their products have
created a benchmark in the market with 'laser printers'. Prin Sole plc have to create the marketing
promotion with negotiation in their prices where they can retain the customers as much as they
can.
Target Market:
Their target market depends upon the market research where it helps to identify the
demand of the printers on which type of market. Some of the market segmentation in IT sector
small and large hectare business, by which they can pitch their product, Education, MNCs
companies, Hospitality as well, computer is basic essential resources now a days with proper
other specification of systems like printers, scanners etc.
-
Competition:
As Prin Sole plc is a upcoming venture and the product is Prin Ex which printers their
competition can be high with other brands such HP,HCL, ESPON etc. Their strategy of customer
retention is that provided high quality products to them. Specially in Technology consumers is
preference is moderate and very rigid nature to buying the products, they excessively prefer to
those brands which are reliable for long term. By that Prin Sole plc will have to face some
challenges at the starting stage related to product quality, price, promotion etc in terms of
retention of customers. Somehow, they have to face uncertainty to sustain in the market. There
can be threat for Prin Sole plc is other brand product which is more demanding in the market
such as Laser printers of HP company is more forecasting because of reliability of the product
and also they provide colour laser printers.
Market Share
Prin Sole plc share is look on forecasting of their shares in the market, demand of their
product in the market can lead to increase the share price as well wealth of shareholders.
Pricing

Prin sole will determine its pricing strategy according to the need and demand of the
marketing gap as it can be ascertained that the pricing policy of Prin ex printer will under go with
price skimming strategy as this will be most suitable for the business to earn maximum profit
being stress free about the competition in the initial stage as no any other company is offering 6
dimensional printer. This strategy will help to gain the maximum attention of the new generation
and big experiment based laboratories. Along with the higher sections of hospital and industrial
sector will also feel the need to utilize the service of this product. As such qualities of a total
innovative printer will help the company to grab a large amount of market shares in global level.
Thus the company would defiantly get an opportunity to lead the competitive market within
digital and electronical market.
Sales Plan
The Prin Ex printer will be sold at various physical retail stores that are the joint tie ups
of company and along with that the company will also promote and sale the product on multiple
E – commerce platforms. The company will also adapt the method of single chain distribution,
this distribution process will be practised through domestic and global channels of sales. The
company will definitely go for the direct sales and at the initial level there is need of only 1 sale
executive who will get an handsome amount of commission which is determined by the sale of
each and every unit at the rate of 5 % . Prin Sole will use effective process of recruitment and
selection of HRM top find the better match for the sales person profile. The highest qualification
would be graduation and any diploma the order can be probably placed after 1 to 3 calls of query
as its a totally new technology.
Advertising:
The best and most appropriate choice of promotion would be promotional literature as the
respective customer share belongs to the background of highly educated persons and research
and development related individuals. So it would be beneficial to advertise the column of Prin Ex
in popular and informative literature media. The expense of advertising will cost moderately
according to the style of promotion it is far less then other operations of company and the
organisation believes more in the advertisement and promotion and consider them as an
investment not an expenditure.

Financial plan
The balance sheet for the Prin sole company is hereby as :
Illustration 2: balance sheet for three years

Funds needed:
The sufficient amount of funds will be needed to accomplish all the tasks and activities of
organisational purposes. The company currently needs an amount of $ 60000 which will be
incurred for daily operations. The need of money in upcoming years would be around $100000
for the research and development cause and in case the finance department fails to fulfil the need
and demand of operation with money it will certainly result in the deficiency of work and low
quality production. The initial capital amount will be utilised in an effective manner to minimize
the costs and enhancing the quality of work.
Conclusion
From the above findings in this project it can be ascertained that the specific elements
such as key personnels, visions, mission, goals of organisation are essential top determine the
business plan. All the external factor affects the internal proceedings of the company so it would
be beneficial to management to forecast and plan accordingly to beat the adverse conditions.
Illustration 3: Balance sheet for last 3 years

REFERENCES
Books and Journals
Baliga, A.J. and Rodrigues, L.L., 2015. Business Plan-The Secret to Success. The International
Journal of Business & Management. 3(4). pp.210-214.
Bell, E., Bryman, A. and Harley, B., 2018. Business research methods. Oxford university press.
Burns, P. and Dewhurst, J. eds., 2016. Small business and entrepreneurship. Macmillan
International Higher Education.
DaSilva, C.M. and Trkman, P., 2014. Business model: What it is and what it is not. Long range
planning, 47(6), pp.379-389.
Demil, B., and et. al., 2015. Introduction to the SEJ special issue on business models: business
models within the domain of strategic entrepreneurship. Strategic Entrepreneurship
Journal. 9(1). pp.1-11.
Gately, C. and Cunningham, J., 2014. The contributions and disconnections between writing a
business plan and the start-up process for incubator technology entrepreneurs.
In Academic entrepreneurship: Creating an entrepreneurial ecosystem (pp. 197-241).
Emerald Group Publishing Limited.
Hair Jr, J.F., and et. al., 2015. Essentials of business research methods. Routledge.
Ibidunni, A.S., Peter, F. and Ogbari, M., 2017. ENTREPRENEURSHIP EDUCATOR'S
COMPETENCEON UNIVERSITY STUDENTS’COMMITMENT TO LEARNING
AND BUSINESS PLAN WRITING. Academy of Strategic Management
Journal. 16(2). pp.1-10.
McKeever, M., 2016. How to write a business plan. Nolo.
Parhankangas, A. and Ehrlich, M., 2014. How entrepreneurs seduce business angels: An
impression management approach. Journal of Business Venturing. 29(4). pp.543-564.
Pretorius, M. and Rosslyn-Smith, W., 2014. Expectations of a business rescue plan: International
directives for Chapter 6 implementation. Southern African Business Review. 18(2).
pp.108-139.
Ross, L.W. and Byrd, K., 2015. Business Plan Competitions: Start-Up'Idols' and Their Twenty-
First Century Launch Pads.
Rubin, T.H., Aas, T.H. and Stead, A., 2015. Knowledge flow in technological business
incubators: evidence from Australia and Israel. Technovation. 41. pp.11-24.
Scarborough, N.M., 2016. Essentials of entrepreneurship and small business management.
Pearson.
Tounés, A., Lassas-Clerc, N. and Fayolle, A., 2014. Perceived entrepreneurial competences
tested by business plan pedagogies. International Journal of Entrepreneurship and
Small Business. 21(4). pp.541-557.
Wheadon, J.D. and Duval-Couetil, N., 2014. Business plan development activities as a
pedagogical tool in entrepreneurship education. The Journal of Engineering
Entrepreneurship. 5(1). pp.31-48.